Unit Mapping Document BSBSMB406

Unit Code BSBSMB406

Unit Name Manage small business finances (Release 2)

Pre-requisites N/A
Co-requisites N/A
Target Group This unit describes the skills and knowledge required to implement and review
financial management strategies on a regular basis.

It applies to individuals who operate a small business that stands alone, or is part
of a department within a larger organisation. Individuals in this role interpret
financial reports and other numerical data to develop financial management
strategies.

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

of publication.
Conditions and Assessment must be conducted in a safe environment where evidence gathered
context of the demonstrates consistent performance of typical activities experienced in the
assessments Management and Leadership – Small and Micro Business field of work and
include access to:
 Business equipment and resources
 Relevant legislation, regulations, standards and codes
 Relevant workplace documentation and resources
 Case studies or where possible, real situations
 Interaction with others.
Assessors of this unit must satisfy the requirements for assessors in applicable
vocational education and training legislation, frameworks and/or standards.

Assessment This assessment will be conducted in the FRONTIER TRAINING AND

Venue TECHNOLOGY classroom or simulated workplace environment in the main
campus building at 735 Pascoe Vale Rd GLENROY VIC 3046 or actual
designated workplace. Assessment is to occur:
 Address of actual designated workplace:

……………………………………………..

……………………………………………..
 Access to an actual workplace or simulated environment
 Access to office equipment, documentation and resources
Specific  FRONTIER TRAINING AND TECHNOLOGY Assessment materials
Resources  Classroom
Required  Computers
 Whiteboard
 Projector
Abbreviation AT- Assessment Task
LG- Learner Guide

UNIT MAPPING BSBSMB406 Version: 1.0 Page |1

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

FRONTIER TRAINING AND TECHNOLOGY College RTO No. 21244| 735 Pascoe vale Rd, Glenroy, Vic 3046
UNIT MAPPING BSBSMB406

Assessment method
Assessment Task Written / Observation/ Case
Verbal Report Demonstratio study Project
questions n Analysis
Assessment Task 1:
Written Questions and 
Answers
Assessment Task 2:

Case study Analysis
Assessment Task 3:

Project
Assessment Task 3:

Third Party Report

UNIT MAPPING BSBSMB406 Version: 1.0 Page |2

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

Frontier Training and Technology Pty Ltd|735 Pascoe Vale Rd GLENROY VIC 3046| RTO Provider 21244
UNIT MAPPING BSBSMB406

Assessment Methods
(Legends: AT- Assessment Task LG- Learner Guide)
Observation/
Learning Written/ Verbal Case Study
Performance criteria Report Demonstratio Project
Resource Questions Analysis
n
1. Implement financial plan

1.1 AT1.1 AT4

Identify financial information requirements and
obtain specialist services, as required, to
AT2 AT3
profitably operate the business in accordance
with the business plan
1.2
Produce financial budgets or projections,
including cash flow estimates, as required for
AT1.2 AT4 AT2 AT3
each forward period, and distribute to relevant
people in accordance with legal requirements
1.3 AT1.3,1.4 AT4
Negotiate, secure and manage business capital
to best enable implementation of the business
AT2 AT3
plan and to meet requirements of financial
backers

UNIT MAPPING BSBSMB406 Version: 1.0 Page |3

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

Frontier Training and Technology Pty Ltd|735 Pascoe Vale Rd GLENROY VIC 3046| RTO Provider 21244
UNIT MAPPING BSBSMB406
Assessment Methods
(Legends: AT- Assessment Task LG- Learner Guide)
Observation/
Learning Written/ Verbal Case Study
Performance criteria Report Demonstratio Project
Resource Questions Analysis
n
1.4 AT1.6 AT4
Develop and maintain strategies to enable
adequate financial provision for taxation in AT2 AT3

accordance with legal requirements

1.5 AT1.5
Develop, monitor and maintain client credit
policies, including contingencies for debtors in AT2 AT3

default, to maximise cash flow

1.6 AT1.11
Select key performance indicators to enable
AT2 AT3
ongoing monitoring of financial performance
1.7 AT1.7 AT4
Record and communicate financial procedures to
relevant people to facilitate implementation of the AT2 AT3

business plan
2. Monitor financial performance

UNIT MAPPING BSBSMB406 Version: 1.0 Page |4

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

Frontier Training and Technology Pty Ltd|735 Pascoe Vale Rd GLENROY VIC 3046| RTO Provider 21244
UNIT MAPPING BSBSMB406
Assessment Methods
(Legends: AT- Assessment Task LG- Learner Guide)
Observation/
Learning Written/ Verbal Case Study
Performance criteria Report Demonstratio Project
Resource Questions Analysis
n
2.1
Regularly monitor and report on financial
performance targets, and analyse data to
AT1.7 AT4 AT2
establish extent to which the financial plan has
been met
2.2
Monitor marketing and operational strategies for
AT1.8 AT2
their effects on the financial plan
2.3
Calculate and evaluate financial ratios according
AT1.10 AT2
to own or industry benchmarks
2.4
Assess financial plan to determine whether
variations or alternative plans are needed, and AT1.9 AT4 AT2

change as required

UNIT MAPPING BSBSMB406 Version: 1.0 Page |5

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

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UNIT MAPPING BSBSMB406

Performance Evidence Learning Written/ Report Observation/ Case Project

Resource Verbal Demonstration Study
Questions Analysis

Operate the business according to the business plan, AT3

including:

 Adhering to legal requirements

 Meeting requirements of financial backers

 Defining strategies for debt collection and

AT4
contingencies for debtors

 Managing cash flow

 Defining key performance indicators

 Communicating with relevant people

Monitor the business against financial plan and make

changes as required. AT4 AT2

UNIT MAPPING BSBSMB406 Version: 1.0 Page |6

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

Frontier Training and Technology Pty Ltd|735 Pascoe Vale Rd GLENROY VIC 3046| RTO Provider 21244
UNIT MAPPING BSBSMB406

Knowledge Evidence Written/ Observation/

Learning Case Study
Verbal Report Demonstratio Project
Resource Analysis
Questions n
Discuss benchmarking
AT2
Explain financial decision-making relevant to the business
AT4 AT2
Summarise significant financial indicators
AT2
Outline purposes of financial reports
AT4 AT3
Clarify preparation and interpretation of budget/actual
reports AT1 AT4 AT3

Identify principles for preparing balance sheets and their

interpretation AT4 AT3

Outline debt collection procedures or strategies

AT2
Characterise principles for preparing profit and loss
statements and their interpretation AT1 AT4 AT2 AT3

Discuss stock records and stock control relevant to the

business. AT2

UNIT MAPPING BSBSMB406 Version: 1.0 Page |7

Responsibility: Curriculum Manager Created: Dec 2016 Last Reviewed: 07/2017

Frontier Training and Technology Pty Ltd|735 Pascoe Vale Rd GLENROY VIC 3046| RTO Provider 21244