Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/ XXXXXXXXXXPage 1 of 32...

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Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 1 of 32 06/2020 Student Assessment Tasks BSBFIM501 Manage budgets and financial plans Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 2 of 32 06/2020 Table of Contents Table of Contents 2 Assessment Information 3 Assessment Instructions 5 Student Assessment Agreement 6 Assessment Task 1 Cover Sheet 7 Assessment Task 1: Written Questions 8 Assessment Task 1 Instructions 10 Assessment Task 1 Checklist 12 Assessment Task 2 Cover Sheet 14 Assessment Task 2: Budget planning project 15 Assessment Task 2 Instructions 17 Assessment Task 2 Checklist 20 Assessment Task 3 Cover Sheet 21 Assessment Task 3: Monitor and control finances projectError! Bookmark not defined. Assessment Task 3 Instructions 24 Assessment Task 3 Checklist Error! Bookmark not defined. Assessment Task 4 Cover Sheet 24 Assessment Task 4 Cover Sheet 28 Assessment Task 4: Debtor management project 29 Assessment Task 4 Instructions 30 Assessment Task 4 Checklist 32 Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 3 of 32 06/2020 Assessment Information The assessment tasks for BSBFIM501 Manage budgets and financial plans are included in this Student Assessment Tasks booklet and outlined in the assessment plan below. To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily. Assessment Plan Assessment Task Overview 1. Written questions You must correctly answer all questions. 2. Budget planning project You must complete a budget template and participate in a meeting to discuss the budget. You must then present the budget to their team. 3. Monitor and control finances project You must review budget figures and report on these as part of monitoring processes. 4. Debtor Management project You must review and evaluate financial management processes Assessment Preparation 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, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file. Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you. Assessment appeals If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s assessment appeals process. You have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal. Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 4 of 32 06/2020 Naming electronic documents It is important that you name the documents that you create for this Assessment Task in a logical manner. Each should include: • Course identification code • Assessment Task number • Document title (if appropriate) • Student name • Date it was created For example, BSBFIM501 AT2 Revised Marketing Budget Joan Smith 20/10/18 Additional Resources You will be provided with the following resources before you begin each Assessment Task. Assessment Task 2 • Marketing Budget Template • Finance Policy and Procedures Assessment Task 3 • Campus Profit and Loss • Marketing Expenditure • Marketing Budget Report Template • Campus Budget Report Template Assessment Task 4 • Aged Debtors Report Template • Aged Debtor Summary • Aged Debtor Monitoring Summary Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 5 of 32 06/2020 Assessment Instructions Each assessment task in this booklet consists of the following: Assessment Task Cover Sheet This must be filled out, signed and submitted together with your assessment responses. If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission. If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit the file. The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per your RTO’s re-assessment policy. Depending on the task, this may include • resubmitting incorrect answers to questions (such as short answer questions and case studies) • resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task • redoing a role play after being provided with appropriate feedback about your performance • being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time, after being provided with appropriate feedback. Assessment Task Information This gives you: • a summary of the assessment task • information on the resources to be used • submission requirements • re-submission opportunities if required Assessment Task Instructions These give questions to answer or tasks which are to be completed. Your answers need to be typed up using software as indicated in the Assessment Task Instructions. Copy and paste each task’s instructions into a new document and use this as the basis for your assessment task submission. Include this document’s header and footer. If you are submitting electronically, give the document a file name that includes the unit identification number, the task number, your name and the date. Checklist This will be used by your assessor to mark your assessment. Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses. Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 6 of 32 06/2020 Student Assessment Agreement Make sure you read through the assessments in this booklet before you fill out and sign the agreement below. If there is anything that you are unsure of, consult your assessor prior to signing this agreement. Have you read the assessment requirements for this unit?  Yes  No Do you understand the requirements of the assessments for this unit?  Yes  No Do you agree to the way in which you are being assessed?  Yes  No Do you have any specific needs that should be considered?  Yes  No If so, explain these in the space below. Do you understand your rights to re-assessment?  Yes  No Do you understand your right to appeal the decisions made in an assessment?  Yes  No Student name Student number Student signature Date Assessor name Assessor signature Date Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 7 of 32 06/2020 Assessment Task 1 Cover Sheet Student Declaration To be filled out and submitted with assessment responses  I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).  I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.  I have correctly referenced all resources and reference texts throughout these assessment tasks. Student name Student ID number Student signature Date Assessor declaration  I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. Assessor name Assessor signature Date Assessment outcome S NS DNS Resubmission Y N Feedback Student result response  My performance in this assessment task has been discussed and explained to me.  I would like to appeal this assessment decision. Student signature Date A copy of this page must be supplied to the office and kept in the student’s file with the evidence. Student Assessment Tasks Atlantis College of Management; RTO: 41458, CRICOS Provider: 03482G Approved Version Page Number To be reviewed Document Name BSBFIM501- Manage Budgets and Financial Plans 06/2019 1.0 Page 8 of 32 06/2020 Assessment Task 1: Written Questions Task summary This is an open book test, to be completed in the classroom. A time limit of 1.5 hours to answer the questions is provided. You need to answer all of the written questions correctly. Your answers must be word processed and sent to the assessor as an email attachment. Required • Access to textbooks/other learning materials • Computer and Microsoft Office • Access to the internet Timing Your assessor will advise you of the due date of this assessment. Submit • Answers to all questions Assessment criteria All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily. Re-submission opportunities You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not