BSBESB407 – Manage finances for new business ventures

This unit describes the skills and knowledge required to implement and review financial management strategies, including by using new and emerging digital technologies and interpreting financial reports and other numerical data.

The unit applies to those establishing a business providing self-employment, as well as those establishing a new venture as part of a larger organisation.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Nil

• Basic Language, literacy and numeracy skills in English (LLN)
• Victorian Student Number (VSN) – Victoria only
• Unique Student Identifier (USI) – Australia wide
• Access to a functional pc or tablet device with video recording capabilities, internet access and Chrome internet browser.

• legislative and regulatory financial requirements that apply to new business venture described in performance evidence
• key purposes of financial reports
• components of financial budgets or projections, including cash flow estimates
• workplace procedures for
• forms, channels and modes of communication used in relation to managing business finances
• key features of business and industry benchmarking used to evaluate financial ratios
• key features of financial decision-making relevant to the business, including:
• components of client credit policies, including contingencies for debtors in default
• key features of significant financial indicators
• key features of balance sheet preparation and interpretation
• key features of debt collection procedures and strategies
• key features of profit and loss statement preparation and interpretation
• key features of stock records and stock control relevant to the business.

This unit is completed by self-paced work online. The nominal hours for the course are 75hrs Online access remains live for 3 months. Please see information below regarding extensions.

Online

Demonstrate knowledge required to complete the tasks outlined in elements and performance criteria of this unit. Refer to training.gov.au for more specific examples on assessments and tasks. Video footage of demonstration is acceptable.

Online

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