for Assessment Resource | BSBFIM601 Help Auspali

Assessment overview. 3

Student Assessment Agreement 4

Cover Sheet – Assessment Task 1. 5

Assessment Task 1: Written questions. 7

Part A – Food safety. 8

Part B – Preparing appertisers and salads. 15

Cover Sheet – Assessment Task 2. 20

Assessment Task 2: Food safety project 23

Cover Sheet – Assessment Task 3. 29

Assessment Task 3: Cooking observations. 31

Dish 1 – Mixed appetisers. 33

Dish 2 – Grilled salmon on a nicoise salad. 38

Dish 3 – Thai beef with noodle salad. 41

Dish 4 – Herb crusted chicken on a garden salad. 43

Dish 5 – Crispy fried whiting on warm fennel and orange salad. 45

Dish 6 – Warm fruit salad with orange zest zabaglione. 46

Menu Pictures. 49

• This Student Assessment Booklet includes all your tasks for assessment of the Appetisers and Salads topic, which consist of the units:
• SITXFSA002 Participate in safe food handling practices
• SITHCCC001 Use food preparation equipment
• SITHCCC006 Prepare appetisers and salads.

About your assessments

• This unit requires that you complete 2 assessment tasks. You must complete all tasks to achieve competency for the units in this topic.

How to submit your assessments

• Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.
• When you have read and understood this unit’s assessment tasks, sign the Student Assessment Agreement page and provide it to your assessor who will countersign it.
• Keep a copy of all of your work for your personal records, as the work submitted to your assessor will not be returned to you.
• When you have completed each assessment task you will need to submit it to your assessor.
• Instructions about submission can be found at the beginning of each assessment task.
• Make sure you photocopy your written activities before you submit them – your assessor will put the documents you submit into your student file. These will not be returned to you.

Assessment Task Cover Sheet

• At the beginning of each task in this booklet, you will find an Assessment Task Cover Sheet. Please fill it in for each task where you need to submit items for assessment, making sure you sign the student declaration.
• Your assessor will give you feedback about how well you went in each task, and will write this on the back of the Task Cover Sheet.

Assessment appeals

• You can make an appeal about an assessment decision by putting it in writing and sending it to us. Refer to your Student Handbook for more information about our appeals process.

* While submitting or assessing the digital version of this Student Assessment Booklet, writing your name and/or adding an e-signature in the signature places in this document, wherever applicable, will constitute your consent and signature.

* If you are submitting your assessment in digital format, please name the file as “UnitCode_ANIEID_FirstName”.

• Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a copy of your work.
• STUDENT DECLARATION
• I declare that:
  • ☒ These answers and tasks are my own work. None of this work has been completed by any other person.
  • ☒ I have not cheated or plagiarised the work or colluded with any other student/s.
  • ☒ I have correctly referenced all resources and reference texts throughout these assessment tasks.
  • ☒ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

• ASSESSOR DECLARATION

• STUDENT RESULT RESPONSE

☒ My performance in this assessment task has been discussed and explained to me.

☐ I would like to appeal this assessment decision.

A copy of this cover sheet must be supplied to the office and kept in the student file, along with the completed Assessment Record Tool, with the assessment evidence.

Task summary

• You are to answer all written questions in Part A and Part B of this task.

Resources and equipment required to complete this task

• Access to textbooks and other learning materials
• Access to a computer, printer, Internet and email software (if required)
• Access to Microsoft Word (or a similar program).

When and where is this task to be completed?

• This task may be done in your own time as homework or you may be given time to do this task in class (where applicable).
• Your assessor will provide you with the due date for this assessment.

What happens if I get something wrong?

• If your assessor marks any of your answers as incorrect, they will make arrangements with you about resubmission. Your assessor may ask you some questions verbally to check your understanding, or you may need to provide new written responses to the questions that were answered incorrectly. Your assessor will give you a due date by which this must be provided.

Student instructions for task 1

• This is an open book test – you can use your learning materials as reference.
• You must answer all questions in this task correctly.
• You must answer the questions by typing your answers in Microsoft Word or a similar program – your assessor will advise as to whether you must email them your completed assessment, submit the file on a USB drive or hand in a hard copy.
• If there are tables included in your task that you need to fill out, you may choose to recreate them in a word processing application. If you have been provided with an electronic version of this booklet, you may prefer to type your answers directly into the document.

Written answer question guidance

• The following written questions may use a range of ‘instructional words’, such as ‘identify’ or ‘explain’. These words will guide you as to how you should answer the question. Some questions will also tell you how many answers you need to give – for example, ‘Describe three strategies…’.
• Describe – when a question asks you to ‘describe’, you will need to state the most noticeable qualities or features. Generally, you are expected to write a response of two or three sentences in length.
• Explain – when a question asks you to ‘explain’, you will need to make clear how or why something happened or the way it is. Generally, you are expected to write a response of two or three sentences in length.
• List – when a question asks you to ‘list’, this means you will need to briefly state information in a list format, often with a specific number of items indicated.

Question 1

1. Explain the purpose and contents of a food safety program/plan.

1. Explain why it is important to have a food safety program.

1. What five monitoring documents/checklists are included in a food safety program/plan?

1. List four food safety procedures found within a food safety plan/program.

Question 2

• What document provides the basis for food safety requirements for Australian businesses?

Question 3

• List three possible consequences of failing to observe food safety requirements.

Question 4

What is the definition of ‘clean’ in terms of food safety?

Question 5

1. What is the definition of ‘contaminant’ in the food standards?

1. According to the Food Safety Standards, what are ‘potentially hazardous foods’?

Question 6

• Describe the role of local councils regarding food businesses and food safety.

Question 7

1. At what temperature should frozen food be stored at?

1. At what temperature should food cool rooms / refrigerators operate at?

1. Describe the requirements of the ‘2/4 Rule’.

1. What are the parameters of the ‘temperature danger zone’?

1. Why is it important for food handlers to know about the temperature danger zone?

Question 8

1. List the three types/classifications of food contamination.

1. What are three conditions commonly required for development of microbiological contamination?

1. List four food safety monitoring techniques applied in a commercial kitchen.

Question 9

1. List three types of food that fall into the following kitchen supply categories:

1. Provide two safe handling practices that should be implemented when handling the following food types:

Question 10

• In the table below, list the Critical Control Points for food production systems. For each point, List three methods you could use to control food hazards at that critical control point.

Question 11

1. Describe the process for cold calibration of a food thermometer.

1. How can you identify if a food thermometer is faulty?

1. How should a food thermometer be cleaned?

1. What is the minimum checking period for food thermometers and what is the degree of accuracy they must have?

Question 12

• Describe three ways that you could confirm the cleaning and sanitising requirements of kitchen equipment and surfaces.

Question 13

• List three actions that should be used to control pests in a kitchen environment.

Question 14

• List the five groups of people who are more likely to be at risk of food poisoning

Question 15

• Describe three ways to ensure that hot and cold foods kept on display are safely sold to customers.

Question 16

List the basic steps that should be followed when receiving a delivery of food stock for a commercial kitchen.

Question 17

1. What are the four basic steps to cleaning?

1. For each of the following cleaning agents, provide a description of what they are used for in a commercial kitchen.

1. Describe four types of manual cleaning equipment used in a commercial kitchen.

1. Name three types of electrical cleaning equipment used in a commercial kitchen.

Question 18

You are using a commercial food processor when you hear an unfamiliar rattling noise and notice a burning smell coming from the piece of equipment. You immediately stop using it and disconnect the power.

Complete the maintenance request form, describing what happened. Use today’s date and your training organisation’s location.

Question 19

1. Give an example of when you would be required to change or adjust the blades on a piece of equipment in a commercial kitchen.

1. Give an example of a time when you would need to oil a piece of commercial kitchen equipment.

1. How can you ensure that you are following safe operational practices when changing blades and oiling equipment?

Question 1

1. Explain what a ‘barquette’ is and how it can be used.

1. Explain what a ‘bouchee’ is and how it can be used.

1. What is a canapé?

1. What is ‘tapas’?

1. What is an ‘amuse gueule’ and what is another term for it?

Question 2

1. What is the name given to an emulsion of egg yolk, oil with vinegar commonly applied as a salad dressing?

1. What is ‘French dressing’ made from and what is another name for it?

1. List three common garnishes for appetisers and salads.

Question 3

1. What are three key pieces of information that can be found on stock date codes?

1. What are three items of information usually found on internal stock rotation labels?

1. Why should a kitchen worker would check the contents of stock date codes and rotation labels?

1. Describe what the acronym FIFO stands for and how it helps in controlling stock.

Question 4

• List five factors used to judge a salad once it is served.

Question 5

• List four quality indicators to look for once salads and appetisers are served.

Question 6

• List five examples of cookery methods that you may use when preparing of appetisers and salads.

Question 7

• What are the six main parts of a mise-en-place plan for a commercial kitchen?

Question 8

• How should salad ingredients be stored to ensure food safety and optimise their shelf life?

Question 9

• Provide a description of each of the precision vegetable cuts, including approximate measurement sizes.

Question 10

1. Name the appropriate knife to use when removing the bones from poultry, meat and fish.

1. Name the appropriate knife to use when filleting fish.

1. What is a palette knife generally used for?

1. Name the appropriate knife to use when making precision cuts of fruit and vegetables.

1. What is the name of a multipurpose knife that is designed to perform a range of kitchen tasks rather than specialise in one particular task?

1. What is a utility knife used for in a commercial kitchen?

Question 11

1. List five knife safety rules that should be followed in a commercial kitchen.

1. Describe the correct way to wash knives in a commercial kitchen.

1. Provide a basic description of how to sharpen a knife with a steel.

Question 12

1. Convert the following oven temperatures from Celsius to Fahrenheit:

1. Complete the following weight conversion table:

Question 13

• Explain the difference between a classical salad and contemporary (modern) salad.

Question 14

• Describe the nutritional value of the foods listed below

• Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a copy of your work.
• STUDENT DECLARATION
• I declare that:
  • ☒ These answers and tasks are my own work. None of this work has been completed by any other person.
  • ☒ I have not cheated or plagiarised the work or colluded with any other student/s.
  • ☒ I have correctly referenced all resources and reference texts throughout these assessment tasks.
  • ☒ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

• ASSESSOR DECLARATION

• STUDENT RESULT RESPONSE

☒ My performance in this assessment task has been discussed and explained to me.

☐ I would like to appeal this assessment decision.

A copy of this cover sheet must be supplied to the office and kept in the student file, along with the completed Assessment Record Tool, with the assessment evidence.

Task summary

• For this task, you are required to demonstrate your ability to receive, transport and store food, follow a food safety program and control food hazards at critical control points.

Resources and equipment required to complete this task

• Access to a simulated workplace environment.
• Commercial kitchen resources and equipment (RTO to ensure)
• Food safety program (RTO to ensure)
• Food safety procedures relating to receiving food deliveries (RTO to ensure)
• Refrigeration unit with shelving (RTO to ensure)
• Store room with shelving (RTO to ensure)
• Trolley or pallet trucks (RTO to ensure)
• Boxes (RTO to ensure)
• Food and kitchen supplies (RTO to ensure)
• Delivery checklist (assessor to provide)
• Order form (assessor to provide)

When and where should the task be completed?

• Workplace based students will complete this task in the workplace.
• Classroom based students will complete this task in their RTO’s training kitchen.
• Your assessor will provide you with the data and time of each observation.

Student instructions for Task 2

For this task, you are required to follow correct procedures to receive, transport and store food stock.

Your assessor will organise for you to receive a delivery of food.

• Review the commercial kitchen’s food safety program and procedures relating to receiving, transporting and storing stock.
• You will work in groups or pairs as advised by your assessor.
• Once you have received the delivery are required to do the following:
• Check the delivery of supplies matches the order
• Check the temperature of stock on delivery
• Assess the quality and freshness of the food delivered
• Check and maintain storage areas
• Transport stock safely
• Organised and rotated stock on a first-in, first-out basis
• Dispose of spoilt or damaged stock.
• Throughout the process, you are required to complete the delivery checklist provided.
• Report any issues that you come across and note down the action taken.
• Submit your delivery checklist to your assessor.

• Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a copy of your work.
• STUDENT DECLARATION
• I declare that:
  • ☒ These answers and tasks are my own work. None of this work has been completed by any other person.
  • ☒ I have not cheated or plagiarised the work or colluded with any other student/s.
  • ☒ I have correctly referenced all resources and reference texts throughout these assessment tasks.
  • ☒ I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.

• ASSESSOR DECLARATION

• STUDENT RESULT RESPONSE

☒ My performance in this assessment task has been discussed and explained to me.

☐ I would like to appeal this assessment decision.

A copy of this cover sheet must be supplied to the office and kept in the student file, along with the completed Assessment Record Tool, with the assessment evidence.

Task summary

• For this task, you are required to prepare the following dishes:
• Appetisers, consisting of:
• Antipasto platter
• Prosciutto and melon canapés
• Bruschetta
• Pan fried scallop on cauliflower puree on rye with crispy prosciutto garnish
• Grilled salmon on a nicoise salad
• Thai beef with noodle salad
• Herb crusted chicken on a garden salad
• Crispy fried whiting on a warm fennel and orange salad
• Warm fruity salad with orange zest zabaglione.
• Each dish must be prepared for six customers.

You must cater for special dietary requirements.

Your assessor will observe you as prepare, cook, serve and clean.

Resources and equipment required to complete this task

• Access to a real or simulated workplace environment.
• Customers (real life customers or customers role played by other students)
• Industry realistic ratios of kitchen staff to customers
• Recipes (provided)
• Food ingredients (provided by assessor)
• Commercial Cookery Observation Booklet (if applicable)
• Commercial kitchen resources and equipment (assessor to ensure)

When and where will this task be completed?

• You will do this task in a real or simulated commercial kitchen.
• Your assessor will provide you with the date of the cooking demonstrations/observations.

What needs to be submitted?

• You must prepare, cook and present each the following dishes:
• Appetisers, consisting of:
• Antipasto platter
• Prosciutto and melon canapés
• Bruschetta
• Pan fried scallop on cauliflower puree on rye with crispy prosciutto garnish
• Grilled salmon on a nicoise salad
• Thai beef with noodle salad
• Herb crusted chicken on a garden salad
• Crispy fried whiting on a warm fennel and orange salad
• Warm fruity salad with orange zest zabaglione
• You are not required to submit anything else for this task. You will be observed and questioned throughout the assessment and all outcomes will be recorded in the Observation Booklet / Assessment Record Tool.

You may choose to keep recipes and take photos of the meals once they are plated and ready for serving. You may choose to add these to your portfolio, for the assessment task in unit SITHCCC020 Work effectively as a cook.

Student instructions for Task 3

For this task, you must prepare four appetisers and five salads

Read the instructions for each cooking demonstration task. You will be required to alter each dish to cater for any dietary requirements.

Your assessor will observe you as you prepare each dish. Your assessor will ask you some verbal questions during and at the end of some of the cooking demonstration/observations.

Your assessor will advise you of the date and time of each cooking demonstration/observation.

The dishes in this assessment tasks are representative to the required performance criteria of this unit. Your trainer/assessor will finalise the appropriate dishes and will inform you before the practical training and assessment sessions. You will need to attach pictures of the prepared dishes and other required evidence to this answer sheet as instructed by the trainer/assessor.

The units with kitchen training requires a separate Workflow Plan to be prepared by the student. If that is applicable, your trainer/assessor will instruct you and you will need to prepare and submit the Workflow Plan before the kitchen training.

• For this task, you are required to cook a variety of appetisers as follows:
• Appetiser 1: Antipasto platter
• Appetiser 2: Prosciutto and melon canapés
• Appetiser 3: Classic bruschetta
• Appetiser 4: Pan fried scallop on cauliflower puree on rye with crispy prosciutto garnish
• Your assessor will provide you with the recipes.
• You will be required to prepare the appetisers for at least six customers (role played by other students). Adjust recipes to serve six.
• You will work in groups or pairs as advised by your assessor (industry specific staff/customer ratios will apply
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust recipes as appropriate.
• Before you begin to cook, show your assessor how you sharpen knives using sharpening steels or stones.
• Tapas (scallops) and hors d óeuvres (bruschetta) should be made first and then use both of them with the canapé to make a canapé platter.
• Serve the appetisers on platters with individual-use serviettes and disposable plates.
• Access and use information from your food safety program and ensure that you follow correct food safety procedures at all times.

• Your assessor will also ask you some verbal questions during and at the end of the cooking demonstration/observation. The questions will relate to the following topics:
• Purpose of safety programmes
• Consequences of failing to adhere food safety programs
• Reporting non-conforming food safety practices
• Potential food safety issues and corrective actions

• For this task, you are required to cook grilled salmon on a nicoise salad.
• You may work in groups or pairs as advised by your assessor.
• Your assessor will provide you with the recipe.
• You will be required to prepare the dish for six customers (role played by other students). Adjust recipe to serve six.
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust as appropriate.
• You must ensure that you follow correct food safety procedures at all times.

• Your assessor will also ask you some verbal questions during and at the end of the cooking demonstration/observation. The questions will relate to the following topics:
• Faulty equipment
• Waste minimisation
• Cost-reduction initiatives

• For this task, you are required to cook Thai beef with noodle salad
• You may work in groups or pairs as advised by your assessor.
• Your assessor will provide you with the recipe.
• You will be required to prepare the dish for six customers (role played by other students). Adjust recipe to serve six.
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust as appropriate.
• You must ensure that you follow correct food safety procedures at all times.

• For this task, you are required to cook herb crusted chicken on a garden salad.
• You may work in groups or pairs as advised by your assessor.
• Your assessor will provide you with the recipe.
• You will be required to prepare the dish for six customers (role played by other students). Adjust recipe to serve six.
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust as appropriate
• You must ensure that you follow correct food safety procedures at all times.

Your assessor will also ask you some verbal questions during and at the end of the cooking demonstration/observation. The questions will relate to the following topics:

• Manufacturer’s instructions
• Key information and cleaning instructions for equipment and appliances.

• For this task, you are required to cook crispy fried whiting on warm fennel and orange salad.
• You may work in groups or pairs as advised by your assessor.
• Your assessor will provide you with the recipe.
• You will be required to prepare the dish for six customers (role played by other students). Adjust recipe to serve six.
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust as appropriate
• You must ensure that you follow correct food safety procedures at all times.

• For this task, you are required to cook warm fruit salad with orange zest zabaglione.
• You may work in groups or pairs as advised by your assessor.
• Your assessor will provide you with the recipe.
• You will be required to prepare the dish for six customers (role played by other students). Adjust recipe to serve six.
• Confirm the dietary requirements of each of the customers prior to preparing the dish and adjust as appropriate
• You must ensure that you follow correct food safety procedures at all times.

Your assessor will also ask you some verbal questions during and at the end of the cooking demonstration/observation. The questions will relate to the following topics:

• Cleaning procedure for a planetary mixer
• Reporting cracked, broken or chipped eating, drinking and food handling utensils.

Menu – 1 (Kitchen Week -1)

1. Antipasto platter
2. Prosciutto and melon canapés
3. Classic Bruschetta
4. Pan fried scallop on cauliflower puree on rye with crispy prosciutto garnish

Menu – 2 (Kitchen Week -2)

1. Grilled salmon on a niçoise salad (Dill mayonnaise)
2. Thai beef noodle salad
3. Herb crusted chicken on a garden salad
4. Crispy fried whiting on a warm fennel and orange salad (Tempura batter)
5. Warm fruit salad with orange zest zabaglione

Assessment Resource | BSBFIM601

• • Assessment Cover Sheet 

     

    Student name:		Student ID:
    Student email:	Phone:
    Course Name: Advanced Diploma of Hospitality Management	Course Code: SIT60316
    Unit of competency code: BSBFIM601	Unit of competency Name: Manage finances
    Task Number:	Trainer name: Satish Chander

     

    • I declare that the work contained in this Assessment Task is my own, except where acknowledgement of sources is I keep copy of these assignment submitted for my record.
    • I have read the BIT’s Plagiarism Policy and
    • I understand the consequences of engaging in plagiarism and

     

     

    Student signature:

    Date:

     

    Please note: You are advised to keep a copy of all your work submitted to the institute.

    For office use only:

     

    Date received from student:

    Name and signature of Trainer/Assessor:   Satish Chander

     

    ✂                                                                                                    

    Student Receipt (to be completed by BIT staff only)

     

    Unit(s) of competency (code and name): BSBFIM601 Manage finances
    Student name:	Student ID:
    Staff member signature:	Date:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

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    ASSESSMENT SUMMARY / COVER SHEET

     

    This form is to be completed by the assessor and used as a final record of student competency. All student submissions including any associated checklists (outlined below) are to be attached to this cover sheet before placing on the students file. Student results are not to be entered onto the Student Management Database unless all relevant paperwork is completed and attached to this form.
    Student Name:
    Student ID No:
    Final Completion Date:
    Unit:		BSBFIM601 | Manage finances
    Please attach the following documentation to this form			Date	Result S = Satisfactory NS = Not Satisfactory NA = Not Assessed	Date	Reassessm ent S = Satisfactory NS = Not Satisfactory NA = Not Assessed
    Assessment 1	q Budget report attached q One-year budget attached q Checklist attached			S | NS		S| NS
    Assessment 2	q Variance analysis attached q Revised Budget report attached q Checklist attached			S | NS		S | NS
    Assessment 3	q Research project attached q Checklist attached			S | NS		S | NS
    Assessment 4	q Written Assessment / Project attached			S | NS		S | NS
    Final Assessment Result for this unit				C / NYC

    Assessor Notes: (inclusive of reassessment, reasonable adjustment, further opportunities for gap training etc.):                                   

     

     

     

    Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I also am aware of my appeal rights. Name:                                                           Signature:                                                     Date:           / / _

    Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback. I further declare that this assessment has been checked and is free from plagiarism Name:                Satish Chander                   Signature:                                                      Date:                /         /       _

     

    Administrative use only

    Entered onto Student Management Database

    q                              Date

    Initials

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

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    Assessment Resource Summary
    Unit Details	BSBFIM601       Manage finances
    Assessment Type	This is a summative assessment, which requires each student to have adequate practice prior to undertaking this assessment
    Assessment Methods	Projects	Assessment 1 (Part A) (Prepare a one-year budget and complete reports)   Assessment 1 (Part B) (Risk Analysis, Financial Management, Communication)   Assessment 2 (Analysis of company financial position and performance)   Assessment 3 (Review and evaluate financial software programs)
    	Written Assessment or Project	Assessment 4 (Written Assessment / Project)

     

     

     

     

     

    Unit Summary

    This unit describes the skills and knowledge required to undertake budgeting, financial forecasting and reporting and to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to financial bids and estimates, allocating funds, managing budgets and reporting on financial activity.   It applies to individuals who have managerial responsibilities which include overseeing the management of financial and other resources across a business unit, a series of business units or teams, or an organisation. It covers all areas of broad financial management. In a larger organisation this work would be supported by specialists in financial management.   No licensing, legislative or certification requirements apply to this unit at the time of publication.

     

     

     

    Prerequisite Units

    There are no recommended pre-requisite units for this competency.

     

     

     

     

    Possible Co-requisite Units

    There are no recommended co-requisite units for this competency.

     

    Summative Assessment – Assessor Instructions

    It is important that in conducting assessment, the assessor undertakes the following:

     

    Prior to conducting the assessment

    • Read the assessment tasks as detailed throughout this document
    • Contextualise the task (and checklist) to ensure it reflects the students working (Be sure to check with the mapping document to ensure any contextualisation still covers the unit requirements)
    • Read the assessor instructions and checklist prior to commencing the assessment
    • Ensure the assessment environment is suitable for the parameters of the task, to ensure the students will have an appropriate opportunity to demonstrates their skills
    • Make suitable modifications to the assessment environment (if required), to allow all tasks to be observed
    • Ensure the student is allocated the appropriate time and resources for the task
    • If undertaken on the job – discuss the assessment with the workplace supervisor, to so they are aware of what will happen throughout the process
    • If undertaken on the job – Determine and agree with the supervisor an acceptable time frame for each
    • Advise the student prior to conducting the assessment of:
      • what will occur throughout the assessment process
      • when the assessment will occur
      • the level of competency expected (review the checklist or the criteria for the task to ensure the student understands the assessment process and the expectations)
      • the RTO reasonable adjustment process and offer adjustment for any students needing assistance
      • the RTO re-assessment and appeals process
    • You should not tell the student how to undertake the task, as it would lead the student and render the assessment process The student should have been taught “How” to perform each task during the training stage and is expected to know this prior to commencing the assessment.
    • Do not give the student a copy of the Assessor Checklist or Sample Answers prior to the assessment. The student instructions provide appropriate detail for the student on the expected level of competency for each

     

    Conducting the assessment

    • Establish and oversee the evidence gathering process to ensure it remains valid, reliable, fair and flexible
    • Advise the student when to commence the assessment
    • Observe the student undertake the tasks as outlined
    • Record your observations in the assessor checklist
    • Where a checklist point is not observed due to an inappropriate environment, or for a reason outside the student’s control, modify the scenario to allow the student an opportunity to perform the associated task
    • Where a checklist point is not appropriate, write “N/A” in the space provided
    • Incorporate allowable adjustments to the assessment procedure without compromising the integrity of the Be sure to make appropriate notations on the assessment checklist to explain any variances to the assessment process (such as probing questions, alterations to assessment environment, etc) to ensure the assessment process is transparent (and the assessment remains Valid)
    • Gather supporting documentation where available and appropriate (as evidence)
    • Do not interfere with the assessment unless the student’s actions impose a risk to themselves or anyone If the actions of the student impact on the safety of any person – you are to immediately cease the assessment and take actions to reduce the identified risk.
    • If a student performs an action incorrectly, mark it as Record what you see, not what you want to see.
    • Once the assessment is complete, advise the student that the assessment has ceased, and record your comments in the sections

     

    Making and recording the decision

    • The student needs to be deemed satisfactory in all assessments to gain
    • You are to provide feedback* to the student on their performance and/or the outcome from their assessment (whether satisfactory or not yet satisfactory)
    • If a student has been assessed as “Not Yet Satisfactory” on their performance in an assessment they should be offered information about the appeal process and/or a reassessment

    ·         Re-assessments:

    • Re-assessments are to be undertaken on a different date. This is to allow an opportunity for the student to undergo further training as required, and to ensure the student is assessed on their ability to demonstrate their actual skills and knowledge – not just their ability to answer questions / perform actions based on immediate advice of the
    • When undertaking observation-based re-assessments, students must perform the full task that relates to the observation. This means if a student undertakes an observation and is marked not satisfactory on one or more points within the observation, they must perform the task again in
    • If a student has been marked as satisfactory on any full observation task, they are not required to be re-assessed on that task
    • Written assessments (if applicable). Students are only required to be re-assessed on the questions relating to the topic they answered incorrectly in the initial For example, if the student answered Q1, 2, 3 correctly, but answered Q4+5 incorrectly; then they must be re- assessed on Q4+5 on a later date
    • Using the evidence gathered and the rules of evidence (validity, reliability, sufficiency, currency and authenticity) determine the outcome for the If you are in doubt, gather further evidence to help guide your decision.
    • Assess the students on what you observe during the assessment period, not on their actions before or after the
    • If you are marking the student NYC, ensure you outline why you have made this decision, and provide advice on how the student can improve their skills / knowledge prior to reassessment; or if the re- assessment opportunities have lapsed, provide advice on appeals and or re-enrolment.
    • Record the assessment results onto the Assessment Summary / Cover Sheet, ensuring each section is complete
    • Attach all evidence (projects / checklists / tests, etc) to this
    • Submit the completed Assessment Summary/ Cover sheet and associated evidence for processing as per your RTO procedures

     

     

    Providing feedback

    • Provide constructive feedback to the student on their performance during the assessment Do not make any comments on actions undertaken prior or after the assessment period.
    • Provide the student with:
      • Their assessment result
      • Clear and constructive feedback based on the assessment decision
      • The reasons underpinning your assessment decision
      • Information on ways of overcoming any identified gaps in competency revealed by the assessment the opportunity to discuss the assessment process and outcome information on reassessment and the appeals
      • An opportunity for reassessment if appropriate or requested by the candidate
      • Information on appeal process as applicable to your organisation

     

     

     

    ASSESSMENT 1 – STUDENT INFORMATION

    This information is to be handed to each student to outline the assessment requirements

     

    PART A – For this assessment, students are to utilise the data in the Appendices regarding Ed’s Whitegoods. The instructor can role-play the part of Edward Tan, the proprietor and will give any additional information required, including company policies and procedures, milestones etc.

     

    Students are to undertake the following:

    • List all personnel you would consult with in order to gain adequate advice prior to commencing your
    • Consult with your instructor to determine management requirements
    • Outline the statutory requirements in relation to compliance and tax that affect your budget
    • Prepare a 1 year budget & projected financial statement including:
    • Sales forecast, taking into account additional information in Appendix 5
    • Estimated expenses / inventory costs
    • Estimated profits
      • Ensure report layout and format comply with management information requirements, are clear and error-free

     

    Note: Students must use appropriate spreadsheet or accounting software to undertake this task.

     

    Students must ensure that estimates of future cash flow, costs and revenues are realistic in context of the available information at the time of creating the budget. Changes in circumstances should be anticipated as best as possible with particular emphasis on financial risks and creating protection strategies in accordance with organisational procedures. Any liaison with the proprietor of the business to determine milestones, policies, goals etc. should be carried out with your instructor, who will role play the relevant parts.

     

    Assessment Summary

    You are to submit the following evidence / perform the following tasks

    • Develop and submit your annual budget as outlined above

     

    PART B – Now you are to take your completed budget and arrange an appointment with your assessor, who will role-play a finance specialist. In this meeting, you are to

    • Manage the meeting direction and progress
    • Discuss with the finance specialist the aspects of your budgets / financial plans (the package)
    • Have your package reviewed, ensuring your validate your reasons and proposals
    • Amend / revise your package as appropriate

     

    You must now:

    • Detail in writing all delegations and budget accountabilities for implementation and management of your package
    • Develop a written procedure that details the recording systems and documentation process you will follow for monitoring and controlling all activities against your
    • Develop a risk management and contingency plan for all your proposed financial plans; along with a policy and procedure to be followed when implementing these plans
    • Develop a policy and procedure that outlines proper maintenance of records of financial performance and provides for evaluation of the effectiveness of your financial management process

     

    The assessor will be available to role play were required for this assessment

     

    This project is due for submission on:                                                                               

     

    ASSESSMENT 1 – STUDENT SELF ASSESSMENT CHECKLIST

    This information is to be handed to each student to outline the assessment criteria

     

    This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.

     

    Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.

     

    You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed.

     

     

    Student Assessment Criteria	I feel I can demonstrate this
    Communication: Are you able to:
    o   Communicate clearly with others o   Clarity the task requirements o   Ask for help when needed o   Follow instructions o   Give and receive feedback as appropriate o   Answer questions and clarify concerns that arise o   Explain rational on decisions effectively	r Yes r No
    Safety: Are you able to:
    o Always work safely	r Yes r No
    o Ensure your actions do not put the safety of yourself or others at risk	r Yes r No
    Task requirements: Are you able to:
    o Access required information from supervisor (e.g. company policy / authorisation measures)	r Yes r No
    o Undertake discussions with stakeholders to gather additional information as required	r Yes r No
    o Discuss and review assumptions and budget parameters	r Yes r No
    o Outline the statutory requirements in relation to compliance and tax that affect your budget	r Yes r No
    o Identify budget objectives	r Yes r No
    o   Clearly detail the following items: o   Cash o   Expenditure o   Revenue	r Yes r No

     

     

    o Include milestones and performance indicators to monitor performance	r Yes r No
    o Ensure profit targets / goals conform with budget requirements	r Yes r No
    o Include a detailed breakdown of annual budget into seasonal periods	r Yes r No
    o Identify any potential financial risks based on given data / information, and recommend appropriate protection strategies	r Yes r No
    o Identify non-current asset requirements, and alternative asset management strategies	r Yes r No
    o Prepare cash flow projections in accordance to business plan	r Yes r No
    o   Include all relevant taxes, including: o   GST o   BAS o   FBT	r Yes r No
    o   Communicate with stakeholders regarding the following: o   Milestones o   Policies o   Goals	r Yes r No
    o   Provide conservative estimates based on the provided information including: o   Future cash flow o   Future costs o   Future revenues	r Yes r No
    o   Create a forecast template including o   Create copy of last forecast o   Extend forecast to cover new forecast period o   Delete from the forecast any dates that are now in the past o   Label the spreadsheet with the forecasting date o   Clear all numbers from the forecast line items	r Yes r No
    o   Populate the forecast template, including entering the following for each time period o   Current cash balance o   The best estimate of cash receipts from open accounts receivable o   The projected cash disbursements for payroll and payroll tax payments o   The projected cash disbursements for accounts payable o   The projected timing of expenditures for capital projects o   The projected timing of dividend payments	r Yes r No
    o Generate budget following set procedures and adhering to Australian accounting standards	r Yes r No
    o Read and interpret financial information / statements	r Yes r No
    o Adhere to the principles of double entry accounting	r Yes r No
    o Demonstrate skills in accrual accounting	r Yes r No

     

     

    o Gather and verified all data effectively	r Yes r No
    o   When undertaking the role plan: o   Communicate professionally o   Explain proposed budgets effectively o   Validate reasons and proposals thoroughly o   Detailed all delegations and budget accountabilities for implementation and management of proposal	r Yes r No
    o Developed procedure for risk management and contingency planning	r Yes r No
    o Complete the task on time	r Yes r No

     

    ASSESSMENT 1 – ASSESSOR INSTRUCTIONS

    These instructions must be followed when assessing the student in this unit. The checklist on the following page is to be completed for each student. Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

     

    For this assessment, students are to utilise the data in the Appendices regarding Ed’s Whitegoods. The instructor can role-play the part of Edward Tan, the proprietor and will give any additional information required, including company policies and procedures, milestones etc.

     

     

    Students are to undertake the following:

    • List all personnel you would consult with in order to gain adequate advice prior to commencing your
    • Consult with your instructor to determine management requirements
    • Prepare a One-year budget & projected financial statement including:
    • Sales forecast, considering additional information in Appendix 5
    • Estimated expenses / inventory costs
    • Estimated profits
      • Ensure report layout and format comply with management information requirements, are clear and error- free

     

    Note: Students must use appropriate spreadsheet or accounting software to undertake this task.

     

    Students must ensure that estimates of future cash flow, costs and revenues are realistic in context of the available information at the time of creating the budget. Changes in circumstances should be anticipated as best as possible with particular emphasis on financial risks and creating protection strategies in accordance with organisational procedures. Any liaison with the proprietor of the business to determine milestones, policies, goals etc. should be carried out with your instructor, who will role play the relevant parts.

     

    ASSESSOR NOTES

    • Throughout this assessment, you are required to role-play the client and assist the students in determining specific goals, milestones, policies that you deem This will require you to answer questions as raised by the student, and possibly provide additional data if required. In all dealings, you are to only answer questions asked by the student, and not lead them in any way
    • Sample data has been provided in Appendix 1-5, along with additional assumptions provided in Appendix 6
    • You may modify the business data as required; however, Business models should be as realistic as possible, and documentation provided to the student should be as close as possible to what they would need to disseminate in a real work
    • A sample policy and procedure for the students to follow during this assessment has been provided as an attachment to this

     

    This assessment may be undertaken in the following formats:

    • On the job. These assessments must:
      • using a registered and operating workplace
      • ensure access to customers relevant to the work role and unit requirements
      • ensure access to staff members / colleagues
      • ensure candidate is working in a suitable role to the unit (i.e. – candidates undertaking units requiring staff supervision must have staff to supervise, and authority to do so)
      • ensure access to relevant, working and current tools and equipment as appropriate to the unit requirement
      • substitute the provided data with relevant data from the students work-place

     

    • Classroom / Simulated environment. These assessments must

    Simulation is a form of evidence gathering that involves the candidate in completing or dealing with a task, activity or problem in an off-the-job situation that replicates the workplace context. Documented definitions state “Simulations vary from recreating realistic workplace situations such as in the use of flight simulators, through the creation of role plays based on workplace scenarios to the reconstruction of a business situation on a spreadsheet. In developing simulations, the emphasis is not so much on reproducing the external circumstance but on creating situations in which candidates are able to demonstrate:

    • technical skills
    • underpinning knowledge
    • generic skills such as decision making and problem solving
    • workplace practices such as effective communication “

     

    • In conducting training and assessment in a simulated workplace environment, trainers and assessors must make sure that the simulated environment gives the learner the opportunity to meet the following critical criteria:
      • Quality – The work is of the standard required for entry into the
      • Productivity – The work is performed within a timeframe appropriate for entry to the
      • Safety – The work is performed in a manner that meets industry safety

     

    • Each assessment has taken the following aspects into consideration, to ensure any simulations provide for integrated assessment of This includes:
      • performing the task (task skills)
      • managing a number of tasks (task management skills)
      • dealing with workplace irregularities such as unexpected problems, breakdowns and changes in routine (contingency management skills)
      • fulfilling the responsibilities and expectations of the job and workplace, including working with others (job/role environment skills)
      • transferring competencies to new contexts

     

    • Assessment activities must be realistic and reasonable in terms of scale. Assessment conducted under simulated conditions should reflect those typically found in the Where appropriate to the UOC, simulated environment should allow the learner to:
      • deal with typical customers, including difficult customers and diverse types of customers
      • use facilities, equipment and materials that meet current industry standards
      • plan and prioritise multiple tasks to meet deadlines
      • experience the typical workflow for the industry
      • require adherence to service standards, workplace procedures, health and safety requirements
      • work with others as part of a team
      • consider constraints and pressures met in the workplace, g. budget, time, availability of resources

     

    • If a simulated workplace is used, it must allow for distractions such as background noises, ringing telephones, interruptions, etc. As this is a Business Based Finance unit, a simulated environment may also include an office environment with office equipment and computers. Each student must dress appropriately and professionally in line with workplace

     

    • For each assessment, you are not to If the assessment is activities will impact on the safety of a student or bystander, the assessment must be stopped immediately

     

    ASSESSMENT 1 – ASSESSOR CHECKLIST

    This checklist is to be used when assessing the students in the associated task. This checklist is to be completed for each student.

    Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

    Please complete below

    Student Name:
    Student ID No:

     

    Assessor Instructions:

    Please refer to the detailed instructions outlined on the Assessment Instruction Page (previous) that provides more detail as to required observations:

     

    Student checklist – Annual Budget. Did the student:	Satisfactory
    Access required information from supervisor (e.g. company policy / authorisation measures)	r Yes r No
    Correctly interpreted and followed given instructions / procedures	r Yes r No
    Access and correctly interpret / follow budget legislation (ATO Tax Law)	r Yes r No
    Undertake discussions with stakeholders, discussing and reviewing assumptions and budget parameters and identifying budget objectives?	r Yes r No
    Detail personnel to consult with to gain adequate advice (e.g. Accounts department / Managers etc)	r Yes r No
    Budget / project financial statement incorporates a sales forecast that
    ·         Includes all discussed assumptions, includes a yearly/monthly sale forecast considering historical data.	r Yes r No
    Budget / project financial statement incorporates estimated expenses including:
    ·         Advertising, all financial costs, operating expenses, utilities and staff expenses	r Yes r No
    ·         Inventory costs and inventory turnover	r Yes r No
    Budget / project financial statement incorporates estimated profits (Total projected business income LESS total projected business operational / depreciation / amortisation expenses)	r Yes r No
    Incorporate milestones / KPI’s	r Yes r No
    Break down annual budget into seasonal periods (Christmas, Mothers day, EOFY Sales, etc)	r Yes r No
    Recommended appropriate protection strategies as required (insurances, holding profit aside to cover low sales periods, back-up suppliers, etc)	r Yes r No
    Identified non-current asset requirements (intangible assets / plant / property / equipment, etc)	r Yes r No

     

     

    Identified any alternative asset management strategies (identify asset life cycle, asset requirements to achieve proposed budget, identification of surplus assets, acquisition, maintenance, disposal and funding)	r Yes r No
    Prepare cash flow projections in accordance to business plan, including any tax liabilities	r Yes r No
    Conservatively base the following estimates on the provided information:
    ·         Future cash flow, costs and revenues	r Yes r No
    Financial Forecasting: Did the student
    Create a forecast template including, previous forecast, new forecast and adjustments.	r Yes r No r N/A
    Populate the forecast template, including entering the following for each time period; current and forecast cash balance and expected timings of major payments.	r Yes r No r N/A
    During role-play with finance specialist (assessor), did the student
    ·        Communicate professionally, explaining the budget and giving valid, logical reasons for decisions made and explaining who would be responsible for budget implementation.	r Yes r No
    Develop a procedure for risk management and contingency planning that:
    ·        Outlines the risks, contingencies, mitigation measures that may occur as a result of budget decisions.	r Yes r No
    Student demonstrated functional keyboard and computing skills	r Yes r No
    Student demonstrated the ability to read and interpret financial information / statements	r Yes r No
    Student adhered to the principles of double entry accounting	r Yes r No
    Student demonstrated basic skills in accrual accounting	r Yes r No
    Student always communicated effectively with instructor / supervisor	r Yes r No
    Student gathered and verified all data effectively	r Yes r No
    Student demonstrated good time-management skills by submitting assessment by due date	r Yes r No
    Annual budget attached	r Yes r No

     

     

     

    Result: Satisfactory |  Not Satisfactory  |  Not Assessed

     

    Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I also am aware of my appeal rights.

    Name:                                                _ Signature:                                            _ Date:           / / _

     

    Assessor: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback

    Name:                Satish Chander                 Signature:                                           _ Date:                /         /       _

     

     

    ASSESSMENT 2 – STUDENT INFORMATION

    This information is to be handed to each student to outline the assessment requirements

     

     

    Students are required to compare their budgeted figures against actual figures located below:

     

     

    Ed’s Whitegoods One-year result:

    Total Sales:                              $1,623,000

    Total Purchases:                          $701,400

    Total Expenses:                           $402,000

     

     

     

    Students are to undertake the following:

    • Prepare a variance analysis between budgeted and actual figures
    • Ensure report demonstrates major differences
    • What was the discrepancy?
    • Is the discrepancy a positive or negative one?
    • Locate the area and give at least 5 reasons why the discrepancy may have occurred
      • Utilise the data provided to determine the effectiveness of the cost budgeting techniques used
      • Lastly, students should give recommendations as to how their variance may be corrected for future budgets for the

     

    The variance report should be submitted along with a written report detailing the student’s answers to the above questions.

     

    Assessment Summary

    You are to develop and submit the following:

    • revised budget
    • budget assessment report
    • feasibility report

     

     

    This assessment is due on:                                                            

     

    ASSESSMENT 2 – STUDENT SELF ASSESSMENT CHECKLIST

    This information is to be handed to each student to outline the assessment criteria

     

    This checklist is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.

     

    Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.

     

    You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed.

     

    Student Assessment Criteria	I feel I can demonstrate this
    Communication: Are you able to:
    o   Communicate clearly with others o   Clarity the task requirements o   Ask for help when needed o   Follow instructions o   Give and receive feedback as appropriate o   Answer questions and clarify concerns that arise o   Explain rational on decisions effectively	r Yes r No
    Safety: Are you able to:
    o Always work safely	r Yes r No
    o Ensure your actions do not put the safety of yourself or others at risk	r Yes r No
    Task requirements: Are you able to:
    o Access all required information from supervisor	r Yes r No
    o Compare prepared budget with actual figures	r Yes r No
    o   Identify any significant over or underestimation of the following: o   Future cash flow o   Future costs o   Future revenues	r Yes r No
    o Prepare comparison trends and other appropriate graphs to demonstrate the information provided	r Yes r No
    o Demonstrate validity of the analysis	r Yes r No
    o Identify any milestone that were not met	r Yes r No
    o   Adapt budget, taking into account: o   Actual figures o   Conversations with stakeholders	r Yes r No

     

     

     

    o Prepare a budget variance report	r Yes r No
    o Prepare a feasibility report	r Yes r No
    o Clearly outline stated any major discrepancies	r Yes r No
    o Define positive / negative discrepancies	r Yes r No
    o List 5 possible reasons for discrepancies	r Yes r No
    o Ensure all reasons given are logical and reasonable	r Yes r No
    o Ensure all reports are prepared following organisational procedures	r Yes r No
    o Ensure all reports conform to Australian Accounting Standards	r Yes r No
    o Adhere to the principles of double entry accounting	r Yes r No
    o Gather and verified all data effectively	r Yes r No
    o Complete the task on time	r Yes r No

     

    ASSESSMENT 2 – ASSESSOR INSTRUCTIONS

    These instructions must be followed when assessing the student in this unit. The checklist on the following page is to be completed for each student. Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

    Students are required to compare their budgeted figures against actual figures located below: Ed’s Whitegoods One-year result:

    Total Sales:                                $1,623,000

    Total Purchases:                            $701,400

    Total Expenses:                             $402,000

     

     

     

    Students are to undertake the following:

    • Prepare a variance analysis between budgeted and actual figures
    • Ensure report demonstrates major differences
    • What was the discrepancy?
    • Is the discrepancy a positive or negative one?
    • Locate the area and give at least 5 reasons why the discrepancy may have occurred
      • Utilise the data provided to determine the effectiveness of the cost budgeting techniques used
      • Lastly, students should give recommendations as to how their variance may be corrected for future budgets for the

     

    The variance report should be submitted along with a written report detailing the student’s answers to the above questions.

     

    Assessment Summary

    You are to develop and submit the following:

    • revised budget
    • budget assessment report
    • feasibility report

     

    ASSESSOR NOTES

    • Students are not to undertake this assessment until they have successfully completed Assessment 1, as it relates to work completed previously
    • This assessment may be undertaken as a project, or in the classroom
    • If the student has used another business for Assessment 1, you are to develop and provide the student additional information (like that provided above) for the student to refer to
    • Refer to pages 3-4 of this assessment tool for additional instructions

     

    This assessment may be undertaken in the following formats:

    • On the job. These assessments must:
      • using a registered and operating workplace
      • ensure access to customers relevant to the work role and unit requirements
      • ensure access to staff members / colleagues
      • ensure candidate is working in a suitable role to the unit (i.e. – candidates undertaking units requiring staff supervision must have staff to supervise, and authority to do so)
      • ensure access to relevant, working and current tools and equipment as appropriate to the unit requirement
      • substitute the provided data with relevant data from the students work-place

     

    • Classroom / Simulated environment. These assessments must

    Simulation is a form of evidence gathering that involves the candidate in completing or dealing with a task, activity or problem in an off-the-job situation that replicates the workplace context. Documented definitions (state “Simulations vary from recreating realistic workplace situations such as in the use of flight simulators, through the creation of role plays based on workplace scenarios to the reconstruction of a business situation on a spreadsheet. In developing simulations, the emphasis is not so much on reproducing the external circumstance but on creating situations in which candidates are able to demonstrate:

    • technical skills
    • underpinning knowledge
    • generic skills such as decision making and problem solving
    • workplace practices such as effective communication “

     

    • In conducting training and assessment in a simulated workplace environment, trainers and assessors must make sure that the simulated environment gives the learner the opportunity to meet the following critical criteria:
      • Quality – The work is of the standard required for entry into the
      • Productivity – The work is performed within a timeframe appropriate for entry to the
      • Safety – The work is performed in a manner that meets industry safety

     

    • Each assessment has taken the following aspects into consideration, to ensure any simulations provide for integrated assessment of This includes:
      • performing the task (task skills)
      • managing several tasks (task management skills)
      • dealing with workplace irregularities such as unexpected problems, breakdowns and changes in routine (contingency management skills)
      • fulfilling the responsibilities and expectations of the job and workplace, including working with others (job/role environment skills)
      • transferring competencies to new contexts

     

    • Assessment activities must be realistic and reasonable in terms of scale. Assessment conducted under simulated conditions should reflect those typically found in the Where appropriate to the UOC, simulated environment should allow the learner to:
      • deal with typical customers, including difficult customers and diverse types of customers
      • use facilities, equipment and materials that meet current industry standards
      • plan and prioritise multiple tasks to meet deadlines
      • experience the typical workflow for the industry
      • require adherence to service standards, workplace procedures, health and safety requirements
      • work with others as part of a team
      • consider constraints and pressures met in the workplace, g. budget, time, availability of resources

     

    • If a simulated workplace is used, it must allow for distractions such as background noises, ringing telephones, interruptions, etc. As this is a Business Based Finance unit, a simulated environment may also include an office environment with office equipment and computers. Each student must dress appropriately and professionally in line with workplace

     

    • For each assessment, you are not to If the assessment is activities will impact on the safety of a student or bystander, the assessment must be stopped immediately

     

    ASSESSMENT 2 – ASSESSOR CHECKLIST

    This checklist is to be used when assessing the students in the associated task. This checklist is to be completed for each student.

    Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

    Please complete below

    Student Name:
    Student ID No:

     

    Assessor Instructions:

    Please refer to the detailed instructions outlined on the Assessment Instruction Page (previous) that provides more detail as to required observations:

     

    Student checklist – Variance analysis	Satisfactory
    Student accessed required information from supervisor	r Yes r No
    Student correctly interpreted and followed given instructions / procedures	r Yes r No
    Student accessed and correctly interpreted and followed relevant budget legislation (ATO Requirements)	r Yes r No
    Student prepared an accurate variance analysis between budgeted and actual figures by:
    ·         Identifying budgeted and actual sales, budgeted and actual expenses, budgeted and actual purchases etc.	r Yes r No
    Student prepared comparison trends and other appropriate graphs to demonstrate the information provided	r Yes r No
    Student demonstrated the validity of their analysis and identified milestones (KPIs) that were not met.	r Yes r No
    Student adapted budget, considering the actual figures and discussions with stakeholders (assessor)	r Yes r No
    Student prepared an appropriate feasibility report that outlines: the rational behind the budget, the budget strengths and weaknesses and any threats that can be foreseen.	r Yes r No
    All reports were prepared following organisational procedures	r Yes r No
    Student demonstrated functional keyboard and computing skills	r Yes r No
    Student demonstrated the ability to read and interpret financial information / statements	r Yes r No
    Student adhered to the principles of double entry accounting	r Yes r No
    Student demonstrated basic skills in accrual accounting	r Yes r No
    Student demonstrated good time-management skills by submitting return within acceptable timeframes	r Yes r No

     

     

    Revised budget attached	r Yes r No
    Budget assessment report attached	r Yes r No
    Feasibility report attached	r Yes r No

     

     

     

     

    Result: Satisfactory |  Not Satisfactory  |  Not Assessed

     

    Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I also am aware of my appeal rights.

    Name:                 Satish Chander               Signature:                                           _ Date:                /         /       _

     

    Assessor: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback

    Name:                                                _ Signature:                                           _ Date:                /         /       _

     

    ASSESSMENT 3 – STUDENT INFORMATION

    This information is to be handed to each student to outline the assessment requirements

     

     

    For this task you are to identify and evaluate a minimum of 3 commercially available financial management software for its appropriateness within your actual or projected business. You need to consider

     

    1. Price
    2. Usability
    3. Features and functions
    4. Compatibility with other programs
    5. Compatibility with other specialists

     

    Provide your review in the form of a written report, making a recommendation on the most suitable product for you. Be sure to explain your approach, including the pros and cons of each product evaluated

     

    Evidence Summary

    You are to submit your written report by the due date

     

    This assessment is due on:                                                            

     

    ASSESSMENT 3 – STUDENT SELF ASSESSMENT CHECKLIST

    This information is to be handed to each student to outline the assessment criteria

     

    This checklist is like the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.

     

    Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.

     

    You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed.

     

     

    Student Assessment Criteria	I feel I can demonstrate this
    Communication: Are you able to:
    o   Communicate clearly with others o   Clarity the task requirements o   Ask for help when needed o   Follow instructions o   Give and receive feedback as appropriate o   Answer questions and clarify concerns that arise o   Explain rational on decisions effectively	r Yes r No
    Safety: Are you able to:
    o Always work safely	r Yes r No
    o Ensure your actions do not put the safety of yourself or others at risk	r Yes r No
    Task requirements: Are you able to:
    o Identify 3 different commercially available financial management software	r Yes r No
    o Consider and comment on price	r Yes r No
    o Consider and comment on appropriateness to business	r Yes r No
    o Consider and comment on usability including user support	r Yes r No
    o Consider and comment on functions	r Yes r No
    o Consider and comment on upgrades (to keep up with ATO changes)	r Yes r No
    o Consider and comment on features	r Yes r No

     

     

    o Consider and comment on compatibility with other software (exporting and importing)	r Yes r No
    o Compare each software program	r Yes r No
    o Justify comments and decisions appropriately	r Yes r No
    o Select an appropriate financial management software program for business	r Yes r No
    o Complete the task on time	r Yes r No

     

    ASSESSMENT 3 – ASSESSOR INSTRUCTIONS

    These instructions must be followed when assessing the student in this unit. The checklist on the following page is to be completed for each student. Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

    Students are to identify and evaluate a minimum of 3 commercially available financial management software for its appropriateness within their current employer or projected business. Students need to consider

     

    1. Price
    2. Usability
    3. Features and functions
    4. Compatibility with other programs
    5. Compatibility with other specialists

     

    Students are to provide review in the form of a written report, making a recommendation on the most suitable product. They are to explain their approach, including the pros and cons of each product evaluated

     

    ASSESSOR NOTES

    • It is important that students perform their own research and make their own evaluations on each product
    • Students will need access to the internet and a telephone for this
    • Students may consider any type of company to relate each product
    • Refer to pages 3-4 of this assessment tool for additional instructions

     

    This assessment may be undertaken in the following formats:

    • On the job. These assessments must:
      • using a registered and operating workplace
      • ensure access to customers relevant to the work role and unit requirements
      • ensure access to staff members / colleagues
      • ensure candidate is working in a suitable role to the unit (i.e. – candidates undertaking units requiring staff supervision must have staff to supervise, and authority to do so)
      • ensure access to relevant, working and current tools and equipment as appropriate to the unit requirement
      • substitute the provided data with relevant data from the students work-place

     

    • Classroom / Simulated environment. These assessments must

    Simulation is a form of evidence gathering that involves the candidate in completing or dealing with a task, activity or problem in an off-the-job situation that replicates the workplace context. Documented definitions state “Simulations vary from recreating realistic workplace situations such as in the use of flight simulators, through the creation of role plays based on workplace scenarios to the reconstruction of a business situation on a spreadsheet. In developing simulations, the emphasis is not so much on reproducing the external circumstance but on creating situations in which candidates are able to demonstrate:

    • technical skills
    • underpinning knowledge
    • generic skills such as decision making and problem solving
    • workplace practices such as effective communication “

     

    • In conducting training and assessment in a simulated workplace environment, trainers and assessors must make sure that the simulated environment gives the learner the opportunity to meet the following critical criteria:
      • Quality – The work is of the standard required for entry into the
      • Productivity – The work is performed within a timeframe appropriate for entry to the
      • Safety – The work is performed in a manner that meets industry safety

     

    • Each assessment has taken the following aspects into consideration, to ensure any simulations provide for integrated assessment of This includes:
      • performing the task (task skills)
      • managing a number of tasks (task management skills)
      • dealing with workplace irregularities such as unexpected problems, breakdowns and changes in routine (contingency management skills)
      • fulfilling the responsibilities and expectations of the job and workplace, including working with others (job/role environment skills)
      • transferring competencies to new contexts

     

    • Assessment activities must be realistic and reasonable in terms of scale. Assessment conducted under simulated conditions should reflect those typically found in the Where appropriate to the UOC, simulated environment should allow the learner to:
      • deal with typical customers, including difficult customers and diverse types of customers
      • use facilities, equipment and materials that meet current industry standards
      • plan and prioritise multiple tasks to meet deadlines
      • experience the typical workflow for the industry
      • require adherence to service standards, workplace procedures, health and safety requirements
      • work with others as part of a team
      • consider constraints and pressures met in the workplace, g. budget, time, availability of resources

     

    • If a simulated workplace is used, it must allow for distractions such as background noises, ringing telephones, interruptions, etc. As this is a Business Based Finance unit, a simulated environment may also include an office environment with office equipment and computers. Each student must dress appropriately and professionally in line with workplace

     

    • For each assessment, you are not to interfere. In the event that the assessment is activities will impact on the safety of a student or bystander, the assessment must be stopped immediately

     

    ASSESSMENT 3 – ASSESSOR CHECKLIST

    This checklist is to be used when assessing the students in the associated task. This checklist is to be completed for each student.

    Please refer to separate mapping document for specific details relating to alignment of this task to the unit requirements.

     

    Please complete below

    Student Name:
    Student ID No:

     

    Assessor Instructions:

    Please refer to the detailed instructions outlined on the Student Instruction Page (previous)

     

    Student checklist – Analyse business performance	Satisfactory
    Identify 3 different commercially available financial management software	r Yes r No
    Consider and comment on price	r Yes r No
    Consider and comment on appropriateness to business	r Yes r No
    Consider and comment on usability including user support	r Yes r No
    Consider and comment on functions	r Yes r No
    Consider and comment on upgrades (to keep up with ATO changes)	r Yes r No
    Consider and comment on features	r Yes r No
    Consider and comment on compatibility with other software (exporting and importing)	r Yes r No
    Compare each software program	r Yes r No
    Justify comments and decisions appropriately	r Yes r No
    Select an appropriate financial management software program for business	r Yes r No
    Comments

     

     

    Result: Satisfactory |  Not Satisfactory  |  Not Assessed

     

    Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I also am aware of my appeal rights.

    Name:                                                _ Signature:                                            _ Date:           / / _

     

    Assessor: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback

    Name:              Satish Chander              Signature:                                            _ Date:                /         /       _

     

     

     

     

    ASSESSOR USE ONLY

     

    Appendix 1 – Big Ed’s Whitegoods Ltd

    Edward Tan owns a medium sized whitegoods retail store. He provides you with the following information which is current as of 1 October 2014. All sales and purchasing figures are inclusive of GST.

     

    Assets: Cash (Bank)	$245,000
    Computer equipment	$16,400
    Delivery Van	$26,000
    Phones	$2,300
    Office Equipment	$4,500
    Debtors	$13,580
    Stock	$117,303
    Expenses Phone Service / Calls		$780
    Electricity		$1590
    Gas		$600
    Water		$550
    Insurance		$1300
    Payroll		$465,000
    Cleaning		$850
    Finance Costs		$1650
    Advertising		$560
    Rent		$25,000
    Petrol		$560
    Accountants Fees		$370
    Maintenance		$1405
    Bank Fees		$210
    Office Supplies		$600
    Creditors: JRL Holdings		$22,626
    Innovating Technology Ltd		$3,653
    LMS Marketing		$1,200
    Rowlings & Sons		$35,622

     

    Ed has 3 customers that purchase a large quantity of stock through him which he delivers to their premises. To keep these customers happy, Ed is providing this service on credit to the customers listed below. The listed customers have a debt owing to Ed as listed:

     

    Debtors:
    P.L Farthings	$1,323
    J Smyth & Co	$800
    L.L Incorporated	$356
    National Appliances Direct	$4,233

     

    Appendix 2 – Big Ed’s Whitegoods Ltd Transactions October 2014 Ed sold the following items:

    12 fridges	Each sold at: $1600
    15 freezers	$800
    13 microwaves	$470
    11 Range hoods	$190
    6 ovens	$2100
    16 cook tops	$560
    18 dishwashers	$990
    22 Vacuums	$390
    14 Coffee makers	$600
    25 Toasters	$99
    5 Irons	$156
    16 Mixers	$89
    13 Deep fryers	$99
    4 Portable A/Cs	$350
    0 Hairdryers	$35
    14 Irons	$45
    14 Scale Sets	$24
    13 Kettles	$78
    15 Small Bins	$40
    7 Large Bins	$60
    9 Wine coolers	$299
    5 Washing Machines	$340
    4 Dryers	$330
    TOTAL All Sales for cash	$111837

     

     

    Ed purchased the following items:

    Each purchased for:

    10 fridges                                                 $800               Purchased on credit from JRL

    15 freezers                                               $250               Purchased on Credit from JRL

    10 microwaves                                        $150

    10 Range hoods                                      $80

    5 ovens                                                    $900

    15 cook tops                                            $200

    15 dishwashers                                        $450

    20 Vacuums                                             $130               Purchased on credit from Innovative Tech

    10 Coffee makers                                    $250               Purchased on credit from Innovative Tech

    20 Toasters                                              $35

    5 Irons                                                      $78

    15 Mixers                                                 $45

    10 Deep fryers                                        $45

    0 Portable A/Cs                                       $180

    0 Hairdryers                                             $9

    10 Irons                                                    $19

    10 Scale Sets                                          $12

    10 Kettles                                                 $34

    10 Small Bins                                          $13

    5 Large Bins                                            $22

    15 Wine coolers                                       $130

    5 Washing Machines                               $220               Purchased on credit from Rowlings

    5 Dryers                                                   $210

     

    TOTAL                                                    $40605

    All Invoices paid at time of purchase unless otherwise stated

     

    The following amounts were paid to creditors:

    JRL Holdings                                                                     $5,000

    Innovating Technology Ltd                                               $2,000

    Rowlings & Sons                                                               $5,000

     

     

    Deliver services were provided on credit to the following:

    P.L Farthings                                                                     $300

    J Smyth & Co                                                                    $150

    L.L Incorporated                                                                $362

    National Appliances Direct                                               $600

     

    The following was paid in expenses

    Phone Service / Calls                                                       $65

    Electricity                                                                           $132.50

    Gas                                                                                    $50

    Water                                                                                 $45.83

    Insurance                                                                           $108.33

    Payroll                                                                               $38750

    Cleaning                                                                            $70.83

    Finance Costs                                                                   $137.50

    Advertising                                                                         $46.67

    Rent                                                                                   $2083.33

    Petrol                                                                                 $46.67

    Accountants Fees                                                             $30.83

    Maintenance                                                                      $117.08

    Bank Fees                                                                         $17.50

    Office Supplies                                                                  $ 50

     

    TOTAL EXPENSES                                                         $41,752.08

     

    Bank Statement October 2014

     

     

    1-Oct	BALANCE FORWARD		$245,000.00	CR
    3-Oct	Loan Costs (National)	$137.50	$244,862.50	CR
    4-Oct	Telsta Invoice 3365432	$65.00	$244,797.50	CR
    5-Oct	HLH Electricity	$132.50	$244,665.00	CR
    6-Oct	Ultimate Gas	$50.00	$244,615.00	CR
    8-Oct	Wages	$19,375.00	$225,240.00
    8-Oct	Rent	$2,083.33	$223,156.67	CR
    9-Oct	Cash Deposit	$6,000.00	$229,156.67	CR
    13-Oct	JRL Holdings	$5,000.00	$224,156.67	CR
    15-Oct	Innovative Technology	$2,000.00	$222,156.67	CR
    17-Oct	Cash Deposit	$25,837.00	$247,993.67	CR
    22-Oct	Cash Withdraw	$500.00	$247,493.67	CR
    22-Oct	Wages	$19,375.00	$228,118.67	CR
    22-Oct	Purchase 11451	$12,620.00	$215,498.67	CR
    23-Oct	Shell	$46.67	$215,452.00	CR
    23-Oct	Purchase 11452	$8,630.00	$206,822.00	CR
    25-Oct	Cash Withdraw	$500.00	$206,322.00	CR
    25-Oct	Purchase 11453	$1,405.00	$204,917.00	CR
    25-Oct	LMS Marketing	$46.67	$204,870.33	CR
    25-Oct	Cash Withdraw	$50.00	$204,820.33	CR
    26-Oct	Water	$45.83	$204,774.50	CR
    26-Oct	Insurance Direct Debit	$108.33	$204,666.17	CR
    27-Oct	Corporate Cleaning Ltd	$70.83	$204,595.34	CR
    27-Oct	Rowlings & Sons	$5,000.00	$199,595.34	CR
    27-Oct	Cash Deposit	$35,000.00	$234,595.34	CR
    28-Oct	Fees	$17.50	$234,577.84	CR
    28-Oct	P.L. Harris Repairs	$117.08	$234,460.76	CR
    29-Oct	Yarra Valley	$45.83	$234,414.93	CR
    30-Oct	Cash Deposit	$45,000.00	$279,414.93	CR
    30-Oct	Cash Withdraw	$500.00	$278,914.93	CR
    30-Oct	Office Supplies	$50.00	$278,864.93	CR

     

    Appendix 3 – Ed’s Whitegoods Ltd Transactions November 2014 Ed sold the following items:

    8 fridges	Each sold at: $1600
    10 freezers	$800
    6 microwaves	$470
    15 Range hoods	$190
    5 ovens	$2100
    18 cook tops	$560
    18 dishwashers	$990
    26 Vacuums	$390
    18 Coffee makers	$600
    13 Toasters	$99
    7 Irons	$156
    11 Mixers	$89
    9 Deep fryers	$99
    6 Portable A/Cs	$350
    2 Hairdryers	$35
    16 Irons	$45
    18 Scale Sets	$24
    14 Kettles	$78
    14 Small Bins	$40
    17 Large Bins	$60
    10 Wine coolers	$299
    10 Washing Machines	$340
    4 Dryers	$330
    TOTAL All Sales for cash	$103136

     

     

    Ed purchased the following items:

    Each purchased for:

    5 fridges                                                   $800               Purchased on credit from JRL

    5 freezers                                                 $250               Purchased on Credit from JRL

    5 microwaves                                          $150

    10 Range hoods                                      $80

    5 ovens                                                    $900

    10 cook tops                                            $200

    10 dishwashers                                        $450

    20 Vacuums                                             $130               Purchased on credit from Innovative Tech

    10 Coffee makers                                    $250               Purchased on credit from Innovative Tech

    10 Toasters                                              $35

    5 Irons                                                      $78

    10 Mixers                                                 $45

    5 Deep fryers                                           $45

    5 Portable A/Cs                                       $180

    0 Hairdryers                                             $9

    15 Irons                                                    $19

    15 Scale Sets                                          $12

    10 Kettles                                                 $34

    10 Small Bins                                          $13

    5 Large Bins                                            $22

    5 Wine coolers                                         $130

    0 Washing Machines                               $220               Purchased on credit from Rowlings

    0 Dryers                                                   $210

     

    TOTAL                                                    $26910

    All Invoices paid at time of purchase unless otherwise stated

     

    The following amounts were paid to creditors:

    JRL Holdings	$5,000
    Innovating Technology Ltd	$2,000
    LMS Marketing	$1,200
    Rowlings & Sons	$5,000

    Deliver services were provided on credit to the following:

    P.L Farthings                                                                     $200

    J Smyth & Co                                                                    $350

    L.L Incorporated                                                                $462

    National Appliances Direct                                               $490

    TTNT                                                                                 $336

     

    As of December 2014, Ed gains another valuable customer, TTNT, who he sets up on the same credit delivery scheme as his other regular customers.

     

    The following was paid in expenses

    Phone Service / Calls                                                       $65

    Electricity                                                                           $132.50

    Gas                                                                                    $50

    Water                                                                                 $45.83

    Insurance                                                                           $108.33

    Payroll                                                                               $38750

    Cleaning                                                                            $70.83

    Finance Costs                                                                   $137.50

    Advertising                                                                         $46.67

    Rent                                                                                   $2083.33

    Petrol                                                                                 $46.67

    Accountants Fees                                                             $30.83

    Maintenance                                                                      $117.08

    Bank Fees                                                                         $17.50

    Office Supplies                                                                  $ 50

     

    TOTAL EXPENSES                                                         $41,752.08

     

    Bank Statement November 2014

     

    1-Nov	BALANCE FORWARD		$278,864.93	CR
    3-Nov	Loan Costs (National)	$137.50	$278,727.43	CR
    4-Nov	Telsta Invoice 3365433	$65.00	$278,662.43	CR
    5-Nov	HLH Electricity	$132.50	$278,529.93	CR
    6-Nov	Ultimate Gas	$50.00	$278,479.93	CR
    8-Nov	Wages	$19,375.00	$259,104.93
    8-Nov	Rent	$2,083.33	$257,021.60	CR
    9-Nov	Cash Deposit	$3,606.00	$260,627.60	CR
    13-Nov	JRL Holdings	$5,000.00	$255,627.60	CR
    15-Nov	Innovative Technology	$2,000.00	$253,627.60	CR
    17-Nov	Cash Deposit	$9,000.00	$262,627.60	CR
    22-Nov	Cash Withdraw	$500.00	$262,127.60	CR
    22-Nov	Wages	$19,375.00	$242,752.60	CR
    22-Nov	Purchase 11454	$7,209.00	$235,543.60	CR
    23-Nov	Shell	$46.67	$235,496.93	CR
    23-Nov	Purchase 11455	$5,695.00	$229,801.93	CR
    25-Nov	Cash Withdraw	$500.00	$229,301.93	CR
    25-Nov	Purchase 11456	$3,656.00	$225,645.93	CR
    25-Nov	LMS Marketing	$1,200.00	$224,445.93	CR
    25-Nov	LMS Marketing	$46.67	$224,399.26	CR
    25-Nov	Cash Withdraw	$50.00	$224,349.26	CR
    26-Nov	Water	$45.83	$224,303.43	CR
    26-Nov	Insurance Direct Debit	$108.33	$224,195.10	CR
    27-Nov	Corporate Cleaning Ltd	$70.83	$224,124.27	CR
    27-Nov	Rowlings & Sons	$5,000.00	$219,124.27	CR
    27-Nov	Cash Deposit	$46,530.00	$265,654.27	CR
    28-Nov	Fees	$17.50	$265,636.77	CR
    28-Nov	P.L. Harris Repairs	$117.08	$265,519.69	CR
    29-Nov	Yarra Valley	$45.83	$265,473.86	CR
    30-Nov	Cash Deposit	$44,000.00	$309,473.86	CR
    30-Nov	Cash Withdraw	$500.00	$308,973.86	CR
    30-Nov	Office Supplies	$50.00	$308,923.86	CR

     

    Appendix 4 – Ed’s Whitegoods Ltd Transactions December 2014 Ed sold the following items:

    16 fridges	Each sold at: $1600
    15 freezers	$800
    6 microwaves	$470
    8 Range hoods	$190
    8 ovens	$2100
    14 cook tops	$560
    14 dishwashers	$990
    29 Vacuums	$390
    26 Coffee makers	$600
    19 Toasters	$99
    9 Irons	$156
    16 Mixers	$89
    13 Deep fryers	$99
    8 Portable A/Cs	$350
    1 Hairdryers	$35
    21 Irons	$45
    22 Scale Sets	$24
    19 Kettles	$78
    31 Small Bins	$40
    16 Large Bins	$60
    16 Wine coolers	$299
    15 Washing Machines	$340
    8 Dryers	$330
    TOTAL All Sales for cash	$133860

     

     

    Ed purchased the following items:

    Each purchased for:

    10 fridges                                                 $800               Purchased on credit from JRL

    10 freezers                                               $250               Purchased on Credit from JRL

    10 microwaves                                        $150

    15 Range hoods                                      $80

    10 ovens                                                  $900

    15 cook tops                                            $200

    15 dishwashers                                        $450

    30 Vacuums                                             $130               Purchased on credit from Innovative Tech

    25 Coffee makers                                    $250               Purchased on credit from Innovative Tech

    20 Toasters                                              $35

    10 Irons                                                    $78

    18 Mixers                                                 $45

    15 Deep fryers                                        $45

    10 Portable A/Cs                                     $180

    5 Hairdryers                                             $9

    25 Irons                                                    $19

    25 Scale Sets                                          $12

    20 Kettles                                                 $34

    30 Small Bins                                          $13

    15 Large Bins                                          $22

    15 Wine coolers                                       $130

    10 Washing Machines                             $220               Purchased on credit from Rowlings 10 Dryers                                                 $210

     

    TOTAL                                                    $55335

    All Invoices paid at time of purchase unless otherwise stated

     

     

     

    The following amounts were paid to creditors:

    JRL Holdings                                                                     $10,000

    Innovating Technology Ltd                                               $4,000

    Rowlings & Sons                                                               $8,600

     

     

    Deliver services were provided on credit to the following:

    P.L Farthings                                                                     $965

    L.L Incorporated                                                                $332

    National Appliances Direct                                               $695

     

    The following was paid in expenses

    Phone Service / Calls                                                       $65

    Electricity                                                                           $132.50

    Gas                                                                                    $50

    Water                                                                                 $45.83

    Insurance                                                                           $108.33

    Payroll                                                                               $38750

    Cleaning                                                                            $70.83

    Finance Costs                                                                   $137.50

    Advertising                                                                         $46.67

    Rent                                                                                   $2083.33

    Petrol                                                                                 $46.67

    Accountants Fees                                                             $30.83

    Maintenance                                                                      $117.08

    Bank Fees                                                                         $17.50

    Office Supplies                                                                  $ 50

     

    TOTAL EXPENSES                                                         $41,752.08

     

    Bank Statement December 2014

     

     

    1-Dec	BALANCE FORWARD		$308,923.86	CR
    3-Dec	Loan Costs (National)	$137.50	$308,786.36	CR
    4-Dec	Telsta Invoice 3365434	$65.00	$308,721.36	CR
    5-Dec	HLH Electricity	$132.50	$308,588.86	CR
    6-Dec	Ultimate Gas	$50.00	$308,538.86	CR
    8-Dec	Wages	$19,375.00	$289,163.86
    8-Dec	Rent	$2,083.33	$287,080.53	CR
    9-Dec	Cash Deposit	$32,615.00	$319,695.53	CR
    13-Dec	JRL Holdings	$10,000.00	$309,695.53	CR
    15-Dec	Innovative Technology	$4,000.00	$305,695.53	CR
    17-Dec	Cash Deposit	$58,565.00	$364,260.53	CR
    22-Dec	Cash Withdraw	$500.00	$363,760.53	CR
    22-Dec	Wages	$19,375.00	$344,385.53	CR
    22-Dec	Purchase 11457	$9,643.00	$334,742.53	CR
    23-Dec	Shell	$46.67	$334,695.86	CR
    23-Dec	Purchase 11458	$11,555.00	$323,140.86	CR
    25-Dec	Cash Withdraw	$500.00	$322,640.86	CR
    25-Dec	Purchase 11459	$11,287.00	$311,353.86	CR
    25-Dec	Cash Withdraw	$600.00	$310,753.86	CR
    25-Dec	LMS Marketing	$46.67	$310,707.19	CR
    25-Dec	Cash Withdraw	$50.00	$310,657.19	CR
    26-Dec	Water	$45.83	$310,611.36	CR
    26-Dec	Insurance Direct Debit	$108.33	$310,503.03	CR
    27-Dec	Corporate Cleaning Ltd	$70.83	$310,432.20	CR
    27-Dec	Rowlings & Sons	$8,600.00	$301,832.20	CR
    27-Dec	Cash Deposit	$20,652.00	$322,484.20	CR
    28-Dec	Fees	$17.50	$322,466.70	CR
    28-Dec	P.L. Harris Repairs	$117.08	$322,349.62	CR
    29-Dec	Yarra Valley	$45.83	$322,303.79	CR
    30-Dec	Cash Deposit	$22,028.00	$344,331.79	CR
    30-Dec	Cash Withdraw	$500.00	$343,831.79	CR
    30-Dec	Office Supplies	$50.00	$343,781.79	CR

     

    Appendix 5 – Ed’s Whitegoods Ltd Assumptions for 2015 financial year

    Following research on market trends and consumer confidence, as well as inflation and other factors, Ed has provided you with the following set of assumptions for the 2015 business year.

     

    1. Purchase cost of goods is set to rise by 5%
    2. Decreased consumer confidence means that sales are expected to decrease by 12%
    3. Ed believes he can increase his sale prices by 8% which should have minimal impact on overall sales, perhaps reducing total sales by a further 3%
    4. Ed plans on reducing his expenses by laying off one of his part time staff members who has a yearly salary of $47,000. This is hoped to have only minimal impact on productivity

     

    Appendix 6 – Ed’s Whitegoods Ltd Historic Data

     

     

     

    2015 Business Year Total Sales:	1366000
    Total Purchases:	643000
    Total Expenses:	186000
    Jan – September 2014
    Total Sales:	1080000
    Total Purchases:	477000
    Total Expenses:	378000

     

    TEST – ASSESSOR INSTRUCTIONS

     

    WRITTEN ASSESSMENT

     

    This assessment may be undertaken in one of the following formats

     

     

    Written assessment

    1. Set a date for this written
    2. Advise students of the topic and how the assessment will be conducted / marked
    3. Advise students where this assessment will be undertaken (classroom environment)
    4. Set up room with a gap between each student (staggered formation recommended)
    5. Set ground rules including no phones, talking, books,
    6. Pass a copy of the assessment to each student (Ensure the answers have been deleted from the students copy)
    7. Allow time for reading and questions before commencing
    8. Once assessment has commenced, no communication between students is
    9. If students repeatedly talk, or are caught cheating, they are to be removed from the classroom, and reported to student Mark the assessment tasks as “incomplete”
    10. Allow 2 hours for this
    11. Remember – assessments are a participatory process, so you can help re-word questions, but be careful NOT TO We are assessing the students, not you!
    12. Once completed, mark the assessment accordingly. Refer to the sample answers as direction on expected student responses
    13. In the event that a question is not answered correctly, discuss the response with the candidate to determine if the student did not know the answer, or did not understand the
    14. In order to achieve competency, all questions that are mapped in the associated mapping document MUST be answered correctly.

     

    ASSESSMENT 4 – WRITTEN ASSESSMENT

     

    Student Name:                                                                                                                    

     

    Student ID No:                                                                                

    Date:                         _

     

    Student Instructions

    Written Assessment

    §  Open book assessment (student must state the source of their answer) §  Students must give the correct answer to all questions in this assessment to achieve a satisfactory outcome. §  If done online the student is to type answers directly into the spaces provided.

    ·         Do not cheat during this assessment. Anyone caught cheating will automatically be excluded under the Disciplinary Rules and their opportunity for assessment will be subject to the outcome of an Appeal Process or Disciplinary Hearing ·         Ask your assessor if you do not understand a question. Whist your assessor cannot tell you the answer, he/she may be able to re-word the question for you ·         Reasonable adjustment: If you require any adjustments to accommodate a need in order to complete this assessment, please talk to your assessor. Arrangements will be put in place to ensure a fair and flexible approach is undertaken for this assessment. Please note that the range or nature of the adjustment will ensure that the outcomes of the unit are not compromised. ·         Re-assessment: If you do not achieve the required standard, you will be given the opportunity to be re-assessed by our Assessor. Arrangements will be made on an individual basis. ·         Feedback: Your assessor will provide feedback to students after the completion of the assessment. The trainer assessor will explain the appeals process. ·         Blue or Black pen only to be used

     

     

    Questions
    1	In your own words, describe responsibility accounting?

     

     

    2	Which of the following statements relating to a budget is not true?
    a)    It is a detailed plan b)    It is a management tool c)    It provides many of the performance targets used in responsibility accounting d)    It is prepared on a historical basis e)    It identifies certain financial and operating targets
    3	Detail 4 different types of budgets, and their purposes.

     

     

    4	What information would you require to plan and prepare a budget for a new business? Detail where this information would come from.
    5	Describe what external factors should be taken into consideration when planning and preparing a budget.

     

     

    6	Describe the following term in relation to an organisations budgetary requirements. CAPITAL INVESTMENT
    7	Describe the following term in relation to an organisations budgetary requirements. CAPITAL EXPENDITURE

     

     

    8	Describe the following term in relation to an organisations budgetary requirements. CASH FLOW
    9	Describe the following term in relation to an organisations budgetary requirements. BREAK EVEN

     

     

    10	Describe the following term in relation to an organisations budgetary requirements. GROSS PROFIT
    11	Describe the following term in relation to an organisations budgetary requirements. RISK MANAGEMENT

     

     

    12	What are the financial reporting cycles relevant to your Industry?
    13	Describe 2 different capital investment evaluation techniques

     

     

    14	What are the benefits of participative budgeting?

     

     

    15	What steps would you take to effectively implement the budget into a team environment?
    16	What are INCOTERMS?

     

     

    17	Describe the following INCOTERMS codes?
    Departure (Group E) FCA – Free Carrier
    Main Carriage Paid By Seller (Group C) CIF – Cost, Insurance And Freight
    Arrival (Group D) DAF – Delivered At Frontier

     

     

    18	What is the trades practice Act?
    19	What is the Warsaw Convention?

     

     

    20	What is the World Trade Organisation?
    21	What are Bilateral and Regional Free Trade Agreements?

     

     

    22	What is meant by financial probity? List 6 aspects of what it includes.
    23	What records need to be kept for the ATO for a small business with an annual turnover of less than $2million (cash basis)

     

     

     

     

    Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source.

    Name:                                                _ Signature:                                            _ Date:           / / _

     

    ASSESSOR USE ONLY

    Comments	Assessment Method: WRITTEN / PROJECT
    Result (Please Circle)		Satisfactory		Not Satisfactory	Incomplete
    Assessor: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback			Name:                                                _ Signature:                                            _ Date:           / / _

     

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