Organise finances for the micro business

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver BSBSMB303A, 'Organise finances for the micro business'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Organise finances for the micro business' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1. Ascertain own financial position and the ability to provide capital/equity for the business

1.1. Realistically detail personal, family or community financial situation in terms of funds available and commitments already incurred

1.2. Determine equity finance and assets available for micro business from personal, family or community sources

2. Determine projected cash flow for the business

2.1. Determine the level of forecast business activity over a year and the business mix

2.2. Estimate establishment costs for the business and repayment schedule for borrowings

2.3. Calculate the monthly variable and fixed costs needed to conduct business activity over a year

2.4. Estimate personal drawings needed to be taken from the business

2.5. Estimate the monthly income generated by the business for a year based on price per unit item or hourly charge rate for labour

2.6. Develop a cash flow budget for the first year of business operation

2.7. Seek professional advice to estimate goods and services tax and operating finance required for the business

3. Source the required funds to establish the business

3.1. Estimate required funding to establish and run the business based on expected sales and activity levels, available finances and commitments

3.2. Investigate methods of accessing alternative sources of finance

3.3. Identify strategies for meeting financial obligations

3.4. Implement plans to access available funds as required

4. Monitor profitability of the business

4.1. Maintain and review monthly expenditure and income records

4.2. Compare equity at beginning and end of a year to estimate business performance

4.3. Assess the financial viability of the business after a year of operation

4.4. Seek professional advice on depreciation, insurance and tax implications of the business


Qualifications and Skillsets

BSBSMB303A appears in the following qualifications:

  • BSB30307 - Certificate III in Micro Business Operations
  • CHC42608 - Certificate IV in Celebrancy
  • CUS30109 - Certificate III in Music
  • CUS30309 - Certificate III in Music Business
  • CUS30209 - Certificate III in Technical Production
  • RGR40408 - Certificate IV in Racing (Greyhound Trainer)
  • RGR40108 - Certificate IV in Racing (Racehorse Trainer)