The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!
From the Wiki University
What evidence can you provide to prove your understanding of each of the following citeria?
Identify costs, calculate prices and prepare profit statement
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Identify and document costs associated with production and delivery of business products and services Completed |
Evidence:
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Calculate prices based on costs and profit margin, as an hourly charge-out rate for labour or unit price for products Completed |
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Calculate breakeven sales point to establish business viability and profit margins Completed |
Evidence:
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Identify appropriate pricing strategies in relation to market conditions to meet business profit targets Completed |
Evidence:
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Prepare projected profit statement to supplement the business plan Completed |
Evidence:
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Develop a financial plan
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Set profit targets or goals to reflect owner’s desired returns Completed |
Evidence:
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Identify working capital requirements necessary to attain profit projections Completed |
Evidence:
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Identify noncurrent asset requirements and consider alternative asset management strategies Completed |
Evidence:
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Prepare cash flow projections to enable business operation in accordance with business plan and legal requirements Completed |
Evidence:
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Identify capital investment requirements accurately for each operational period Completed |
Evidence:
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Select budget targets to enable ongoing monitoring of financial performance Completed |
Evidence:
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Acquire finance
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Identify startup and ongoing financial requirements according to financial plan/budget Completed |
Evidence:
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Identify sources of finance, including potential financial backers, to provide required liquidity for the business to complement business goals and objectives Completed |
Evidence:
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Investigate cost of securing finance on optimal terms Completed |
Evidence:
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Identify strategies to obtain finance as required to ensure financial viability of the business Completed |
Evidence:
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