BSBESB407

Application

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.

Unit mapping information

Supersedes and is equivalent to BSBSMB421 Manage small business finances.

Licensing, legislative, regulatory or certification requirements

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

Foundation skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Unit sector or competency field

Business Competence – Entrepreneurship and Small Business

Prerequisite, co-requisite or interdependent assessment of units

Not applicable

Assessment conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

• business equipment and resources, including business technology
• legislation, regulations, codes of practice and standards relating to business described in performance evidence
• workplace documentation and resources relevant to performance evidence.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.