NZQA registered unit standard
6410 version 8
Page 1 of 4
Title
Manage financial resources for a small business enterprise
Level
5
Credits
5
Purpose
People credited with this unit standard are, for a small business
enterprise, able to: develop financial strategies; implement
financial strategies; monitor financial performance; and identify
opportunities to improve financial performance.
Classification
Financial Management > Financial Skills
Available grade
Achieved
Explanatory notes
1
Small business enterprises are diverse, and management of financial resources could
require consideration of a range of current legislation, such as:
Employment Relations Act 2000
Income Tax Act 2007
Goods and Services Tax Act 1985
Commerce Act 1986.
Outcomes and evidence requirements
Outcome 1
Develop financial strategies.
Evidence requirements
1.1
Financial objectives are confirmed that are consistent with overall business
planning in terms of profit objectives and return on capital invested.
1.2
Capital and cash flow financing requirements are determined in relation to the
establishment, operation, and development of the business.
1.3
Capital investment requirements are quantified for each operational period.
1.4
Investigation identifies sources and costs of funding and optimal funding terms.
1.5
Short-, medium-, and long-term financial performance indicators and targets are
established to enable ongoing monitoring of financial performance.
NZQA National Qualifications Services
SSB Code 9999
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
6410 version 8
Page 2 of 4
1.6
Financial information requirements that are appropriate for the nature and extent
of business operations and enable ongoing monitoring of financial position and
financial performance are determined in terms of administration, record keeping,
and reporting.
1.7
A financial plan is produced that specifies financial objectives in terms of finance
requirements, funding arrangements, information requirements, financial
performance targets and indicators, and income statement and balance sheet
projections.
1.8
The financial plan is documented and communicated to appropriate staff and
stakeholders to enable effective implementation.
Outcome 2
Implement financial strategies.
Evidence requirements
2.1
Essential financial systems and records are established, and are maintained to
ensure ongoing accessibility of financial information.
2.2
Legal and financial control systems are established, and are maintained to
facilitate ongoing monitoring of financial activities.
2.3
Financial and statutory reporting is conducted in accordance with legal,
administrative, and business planning requirements.
2.4
Financial reports are accurate, timely, and designed and formatted to facilitate
understanding of the financial information.
2.5
Budgets are consistent with financial strategies and plans, and are appropriate for
the nature and extent of business operations.
2.6
Revenue, expense, and cash flow projections are prepared in relation to each
forward period.
2.7
Balance sheet projections meet the needs of investors, shareholders, and
stakeholders, and provide reliable risk management information.
2.8
Business operations are monitored, and actions are taken to ensure achievement
of financial performance targets, and profit and return on investment objectives.
Outcome 3
Monitor financial performance.
Evidence requirements
3.1
Financial information is gathered and interpreted, and results are assessed for the
extent to which the financial plan objectives and budget projections have been
met.
NZQA National Qualifications Services
SSB Code 9999
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
6410 version 8
Page 3 of 4
3.2
Achievement of financial performance targets is regularly monitored in accordance
with the financial plan and budget projections.
3.3
The content, assumptions, and projections of the financial plan and budget are
reviewed, and the results are assessed to determine the need for variations or
alternative plans or budgets.
3.4
The financial plan and budget are amended to incorporate any agreed variations
and corrective actions.
Outcome 4
Identify opportunities to improve financial performance.
Evidence requirements
4.1
Staff, owners, and other stakeholders are encouraged to review financial
operations, processes, and systems on an ongoing basis, and to make
recommendations for improvements and innovations.
4.2
Evaluation of financial performance incorporates consideration and identification
of potential for change and improvement to financial operations, processes, and
systems.
4.3
Recommended changes are specified and assessed in terms of their potential
contribution to financial performance, and relevant performance criteria are
defined for agreed changes.
Planned review date
31 December 2020
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
22 February 1996
31 December 2016
Revision
2
12 May 1999
31 December 2016
Revision
3
8 February 2001
31 December 2016
Revision
4
12 January 2006
31 December 2016
Rollover and
Revision
5
22 August 2008
31 December 2016
Rollover
6
21 May 2010
31 December 2016
Rollover
7
18 April 2013
N/A
Rollover and
Revision
8
17 September 2015
Republished
8
11 March 2016
NZQA National Qualifications Services
SSB Code 9999
N/A
N/A
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
6410 version 8
Page 4 of 4
Consent and Moderation Requirements (CMR) reference
0113
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the CMR. The CMR also includes useful information about
special requirements for organisations wishing to develop education and training
programmes, such as minimum qualifications for tutors and assessors, and special
resource requirements.
Comments on this unit standard
Please contact NZQA National Qualifications Services nqs@nzqa.govt.nz if you wish to
suggest changes to the content of this unit standard.
NZQA National Qualifications Services
SSB Code 9999
 New Zealand Qualifications Authority 2016