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Evidence Guide: ICTSMB401 - Set up and operate a contractor business

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

ICTSMB401 - Set up and operate a contractor business

What evidence can you provide to prove your understanding of each of the following citeria?

Set up business operation

  1. Develop business plan for small business operation according to business planning guidelines
  2. Follow statutory and legal requirements to register business
  3. Mitigate liabilities by obtaining adequate business insurance
  4. Provide and maintain vehicle through purchase, lease or hire purchase, including managing fringe benefits tax (FBT) liabilities according to business plan
Develop business plan for small business operation according to business planning guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Follow statutory and legal requirements to register business

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Mitigate liabilities by obtaining adequate business insurance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide and maintain vehicle through purchase, lease or hire purchase, including managing fringe benefits tax (FBT) liabilities according to business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide client service

  1. Develop and maintain client base to support business plan
  2. Analyse and determine client expectations in relation to industry standards
  3. Provide client service that meets client expectations according to enterprise standards
  4. Monitor and evaluate performance on installations completed against industry standards
Develop and maintain client base to support business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and determine client expectations in relation to industry standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide client service that meets client expectations according to enterprise standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and evaluate performance on installations completed against industry standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Perform small business financial management tasks

  1. Record income and expenditure using bookkeeping tools and software according to normal accounting standards
  2. Construct small business financial balance sheet using banking records or supply information to accountant according to normal accounting standards
  3. Calculate small business taxation and superannuation requirements or supply information to accountant according to normal accounting standards
  4. Complete a business activity statement (BAS) or supply data to accountant according to normal accounting standards
Record income and expenditure using bookkeeping tools and software according to normal accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Construct small business financial balance sheet using banking records or supply information to accountant according to normal accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate small business taxation and superannuation requirements or supply information to accountant according to normal accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete a business activity statement (BAS) or supply data to accountant according to normal accounting standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cost and quote installation

  1. Establish extent of work to be completed through professional and personable discussions with client
  2. Complete job specification for quote with cost estimates of time required to complete work
  3. Estimate and include cost of materials using supplier quoted prices
  4. Determine and include margin for profit and ongoing costs for installation according to business plan
  5. Check finalised quote for accuracy
  6. Submit quote to client within agreed timeframe
Establish extent of work to be completed through professional and personable discussions with client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete job specification for quote with cost estimates of time required to complete work

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estimate and include cost of materials using supplier quoted prices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and include margin for profit and ongoing costs for installation according to business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check finalised quote for accuracy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit quote to client within agreed timeframe

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Elements

Performance Criteria

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Set up business operation

1.1 Develop business plan for small business operation according to business planning guidelines

1.2 Follow statutory and legal requirements to register business

1.3 Mitigate liabilities by obtaining adequate business insurance

1.4 Provide and maintain vehicle through purchase, lease or hire purchase, including managing fringe benefits tax (FBT) liabilities according to business plan

2. Provide client service

2.1 Develop and maintain client base to support business plan

2.2 Analyse and determine client expectations in relation to industry standards

2.3 Provide client service that meets client expectations according to enterprise standards

2.4 Monitor and evaluate performance on installations completed against industry standards

3. Perform small business financial management tasks

3.1 Record income and expenditure using bookkeeping tools and software according to normal accounting standards

3.2 Construct small business financial balance sheet using banking records or supply information to accountant according to normal accounting standards

3.3 Calculate small business taxation and superannuation requirements or supply information to accountant according to normal accounting standards

3.4 Complete a business activity statement (BAS) or supply data to accountant according to normal accounting standards

4. Cost and quote installation

4.1 Establish extent of work to be completed through professional and personable discussions with client

4.2 Complete job specification for quote with cost estimates of time required to complete work

4.3 Estimate and include cost of materials using supplier quoted prices

4.4 Determine and include margin for profit and ongoing costs for installation according to business plan

4.5 Check finalised quote for accuracy

4.6 Submit quote to client within agreed timeframe

Required Skills and Knowledge

Elements

Performance Criteria

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Set up business operation

1.1 Develop business plan for small business operation according to business planning guidelines

1.2 Follow statutory and legal requirements to register business

1.3 Mitigate liabilities by obtaining adequate business insurance

1.4 Provide and maintain vehicle through purchase, lease or hire purchase, including managing fringe benefits tax (FBT) liabilities according to business plan

2. Provide client service

2.1 Develop and maintain client base to support business plan

2.2 Analyse and determine client expectations in relation to industry standards

2.3 Provide client service that meets client expectations according to enterprise standards

2.4 Monitor and evaluate performance on installations completed against industry standards

3. Perform small business financial management tasks

3.1 Record income and expenditure using bookkeeping tools and software according to normal accounting standards

3.2 Construct small business financial balance sheet using banking records or supply information to accountant according to normal accounting standards

3.3 Calculate small business taxation and superannuation requirements or supply information to accountant according to normal accounting standards

3.4 Complete a business activity statement (BAS) or supply data to accountant according to normal accounting standards

4. Cost and quote installation

4.1 Establish extent of work to be completed through professional and personable discussions with client

4.2 Complete job specification for quote with cost estimates of time required to complete work

4.3 Estimate and include cost of materials using supplier quoted prices

4.4 Determine and include margin for profit and ongoing costs for installation according to business plan

4.5 Check finalised quote for accuracy

4.6 Submit quote to client within agreed timeframe

Evidence of the ability to:

produce a business plan and set up a business

define and meet client needs

perform simple financial management tasks including maintaining simple financial records, and completing business activity statement (BAS), fringe benefits tax (FBT) and insurance documentation

quote for installation jobs that cover all aspects of costing.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

specify business registration and licensing requirements

identify and describe Commonwealth, state, territory and local government legislative requirements relating to business operations including:

anti-discrimination

environmental issues

equal employment opportunity

industrial relations

work health and safety (WHS)

taxation requirements

analyse costs associated with running a business

identify the current tax rates

identify relevant industry codes of practice and evaluate their impact on the business

identify relevant industry standards in relation to:

materials and labour costs

rates of pay

identify common business liabilities

evaluate several sources of advice and specialist services

identify sources of information about regulatory, taxation and insurance requirements and issues.