This unit describes the skills and knowledge required to identify financial requirements of a business, including profit targets, cash flow projections and strategies to garner financial support.
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.
- Prepare to plan finances
- Develop a financial plan
- Plan to acquire finance
Upon successful completion of this unit, you will develop at least one financial plan that addresses financial requirements of a business or new business venture, including cash flow projections and a projected profit statement.
In the course of the above, you must demonstrate that the plan:
- Reflects legal requirements applicable to business
- Include strategies to monitor financial performance of business.
Nominal hours = 50