NZQA Expiring unit standard
1992 version 7
Page 1 of 4
Title
Control and evaluate small business operations
Level
4
Credits
Purpose
5
This unit standard is for people who own, seek to own, or
participate in small business ventures and need to select and
implement control techniques and evaluate business
performance against business goals.
People credited with this unit standard are able to: select and
implement control techniques; interpret financial and
accounting information; evaluate operating results against
business plans and objectives; and manage business risks.
Classification
Business Operations and Development > Systems and
Resources Management
Available grade
Achieved
Explanatory notes
None.
Outcomes and evidence requirements
Outcome 1
Select and implement control techniques.
Evidence requirements
1.1
The purpose and nature of control are analysed.
1.2
Plans are analysed and key resource areas requiring control measures are
identified.
Range
1.3
Control processes that are compatible with plans are assessed, selected, and
implemented.
Range
1.4
physical, financial, human, information.
access, security, operational, quality, financial and budgetary,
documentary, performance, organisational.
Standards are established for key business activities.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
1992 version 7
Page 2 of 4
1.5
Performance and outcomes are monitored against standards.
1.6
The need for corrective action or adjustments is identified and implemented.
1.7
Inaccurate or arbitrary controls are minimised.
Outcome 2
Interpret financial and accounting information.
Evidence requirements
2.1
The functions of a basic accounting system are identified.
Range
2.2
The components of the accounting equation are identified.
Range
2.3
assets, liabilities, owner’s equity.
Financial information is analysed and significant factors identified and
interpreted for their impact on the small business operation.
Range
2.4
source documents, journals, accounts receivable and accounts
payable records, cash book, general ledger.
cash flow statements, financial budgets, financial reports,
statements of change in financial position.
Measures of financial stability and profitability are analysed and clarification of
the financial position is produced.
Range
ratios for profitability, liquidity, efficiency, financial structure.
2.5
Comparisons are made of financial information from similar business
operations.
2.6
Areas of weakness are identified and proposals to address weaknesses are
formulated.
2.7
Information, analysis, and interpretation are relevant to the specific small
business operation and are presented in a form to assist owners and managers
with business decisions.
2.8
The role of accounting and finance industry professionals in providing
assistance and guidance is identified.
Outcome 3
Evaluate operating results against business plans and objectives.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
1992 version 7
Page 3 of 4
Evidence requirements
3.1
Operating results are contrasted with objectives stated in strategic and business
plans.
3.2
The extent of achievement of objectives is assessed.
3.3
The extent of achievement is considered against the criteria established for
evaluating success for the specific business venture.
3.4
Cultural aspects and Equal Employment Opportunities associated with
operating results, objectives, and business plans are considered and evaluated.
Outcome 4
Manage business risks.
Evidence requirements
4.1
Risks that may threaten the resources and earnings of the enterprise are
identified.
Range
4.2
trading risks, non-trading risks, government policy changes,
legislation.
The process of risk management is defined.
Range
4.3
risk identification, risk measurement, risk control, risk financing.
Plans for risk management are produced that are relevant to the specific
business venture.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
28 September 1994
31 December 2018
Revision
2
11 May 1999
31 December 2018
Revision
3
16 January 2001
31 December 2018
Revision
4
12 January 2006
31 December 2018
Rollover and
Revision
5
22 August 2008
31 December 2018
Review
6
17 November 2011
31 December 2018
Rollover
7
15 August 2013
31 December 2018
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
1992 version 7
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 Consent and Moderation Requirements (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.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016