Small Business Finances (BSBSMB402, BSBSMB406, BSBSMB421)

Introduction 

This unit describes the skills and knowledge required to plan, manage and monitor the financial requirements of a small business and, analyse financial data to make informed business decisions.

It includes the units, BSBSMB402, BSBSMB406 and BSBSMB421. Additional resources have been provided from the unit BSBGOV403 analyse budgets and financial plans and BSBFIM501 Manage Budgets and Financial Plans due to applicability and relevance.

Where possible it is useful to use your own small business data as it will assist you in understanding your own business better. In the absence of your own financial documents, you may use one of the case studies.

Resources 

BSBSMB402_406 – Powerpoint

TM Accounting Principles V1.0

BSBGOV403 Analyse Financial Statements and Budgets

Tips

Before you can really understand your business finances it is useful to have a basic understanding of the Accounting Principles.

https://www.accountingcoach.com/accounting-principles/explanation

Not sure about Debits and Credits. This is a fun video 

 

 

Case Study

The following case studies can be used for assessments.

Case Study: Divinity Cafe

Additional Useful Articles and Information

https://www.businessnewsdaily.com/5954-smb-finance-management-tips.html

https://www.business.gov.au/Finance/Accounting/How-to-set-up-a-cash-flow-statement

https://www.business.gov.au/finance

https://www.business.gov.au/finance/accounting/essential-tasks-at-end-of-financial-year-eofy

 

 

 

 

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