Upon successful completion of this unit, you will:
- develop a financial plan which identifies financial requirements of the business, including cash flow projections and a projected profit statement
- follow the financial plan, including:
- demonstrating an awareness of appropriate legal requirements
- implementing strategies to monitor financial performance
Demonstrate knowledge of:
- break-even analysis
- costing for the business, including margin or mark-up, hourly charge-out rates and unit costs
- financial decision-making relevant to the business
- methods and relative costs of obtaining finance
- principles for preparing balance sheets
- principles for preparation of cash flow forecasts
- principles for preparation of profit and loss statements
- purpose of financial reports
- relevant accounting terminology
- working capital cycles
