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Australian Harbour International College RTO ID: 41338 CRICOS Provider Code: 03449J ABN: 74 603 036 102 T: 02 9268 0085 E: [email protected] W: www.ahic.edu.au A: Level 4, 114-120 Castlereagh Street Sydney NSW 2000 Australia Assessment Details Qualification Code/Title BSB50120 Diploma of Business Assessment Type Assessment -01 (Written Assessment) Time allowed 5 weeks Due Date Location AHIC Term / Year T4/2023 Unit of Competency National Code/Title BSBFIN501 Manage budgets and financial plans Student Details Student Name Student ID Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Signature: ____________________________ Date: _____/______/__________ Assessor Details Assessor’s Name RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY Feedback to student: Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I am also aware of my appeal rights. Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback. Signature Signature Date Date Instructions to the Candidates · This assessment is to be completed according to the instructions given below in this document. · Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit. · If you are not sure about any aspect of this assessment, please ask for clarification from your assessor. · Please refer to the College re-submission and re-sit policy for more information. · If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately. · Please read the Tasks carefully then complete all Tasks. · To be deemed competent for this unit you must achieve a satisfactory result with tasks of this Assessment along with a satisfactory result for another Assessment. · This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor. Remember, that it must be your own work and if you use other sources then you must reference these appropriately. · Resources required completing the assessment tasks are Learner guide, PowerPoint presentation, Unit Assessment Pack (UAP), Access to other learning materials such as textbooks, Access to a computer, the Internet and word-processing system such as MS Word. · Submitted document must follow the given criteria. Font must be Times New Roman, Font size need to be 12 and line spacing has to be Single line. · Once you have completed the assessment, please upload the softcopy of the Assessment into AHIC Moodle. · Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark of Zero. Reasonable adjustments · Students with carer responsibilities, cultural or religious obligations, English as an additional language, disability etc. can request for reasonable adjustments. · Please note, academic standards of the unit/course will not be lowered to accommodate the needs of any student, but there is a requirement to be flexible about the way in which it is delivered or assessed. · The Disability Standards for Education requires institutions to take reasonable steps to enable the student with a disability to participate in education on the same basis as a student without a disability. · Trainer/Assessor must complete the section below “Reasonable Adjustment Strategies Matrix” to ensure the explanation and correct strategy have been recorded and implemented if applicable. · Trainer/Assessor must notify the administration/compliance and quality assurance department for any reasonable adjustments made. · All evidence and supplementary documentation must be submitted with the assessment pack to the administration/compliance and quality assurance department. Reasonable Adjustment Strategies Matrix (Trainer/Assessor to complete) Category Possible Issue Reasonable Adjustment Strategy (select as applicable) LLN Speaking Reading Writing Confidence Verbal assessment Presentations Demonstration of a skill Use of diagrams Use of supporting documents such as wordlists Non-English-Speaking Background Speaking Reading Writing Cultural background Confidence Discuss with the student and supervisor (if applicable) whether language, literacy and numeracy are likely to impact on the assessment process Use methods that do not require a higher level of language or literacy than is required to perform the job role Use short sentences that do not contain large amounts of information Clarify information by rephrasing, confirm understanding Read any printed information to the student Use graphics, pictures and colour coding instead of, or to support, text Offer to write down, or have someone else write, oral responses given by the student Ensure that the time available to complete the assessment, while meeting enterprise requirements, takes account of the student’s needs Indigenous Knowledge and understanding Flexibility Services Inappropriate training and assessment Culturally appropriate training Explore understanding of concepts and practical application through oral assessment Flexible delivery Using group rather than individual assessments Assessment through completion of practical tasks in the field after demonstration of skills and knowledge. Age Educational background Limited study skills Make sure font size is not too small Trainer/Assessor should refer to the student’s experience Ensure that the time available to complete the assessment takes account of the student’s needs Provision of information or course materials in accessible format. Changes in teaching practices, e.g. wearing an FM microphone to enable a student to hear lectures Supply of specialised equipment or services, e.g. a note-taker for a student who cannot write Changes in lecture schedules and arrangements, e.g. relocating classes to an accessible venue Changes to course design, e.g. substituting an assessment task Modifications to physical environment, e.g. installing lever taps, building ramps, installing a lift Educational background Reading Writing Numeracy Limited study skills and/or learning strategies Discuss with the Student previous learning experience Ensure learning and assessment methods meet the student’s individual need Disability Speaking Reading Writing Numeracy Limited study skills and/or learning strategies Identify the issues Create a climate of support Ensure access to support that the student has agreed to Appropriately structure the assessment Provide information or course materials in accessible format, e.g. a textbook in braille Changes in teaching practices, e.g. wearing an FM microphone to enable a student to hear lectures Supply of specialised equipment or services, e.g. a note- taker for a student who cannot write Changes in lecture schedules and arrangements, e.g. relocating classes to an accessible venue Changes to course design, e.g. substituting an assessment task Modifications to physical environment, e.g. installing lever taps, building ramps, installing a lift Explanation of reasonable adjustments strategy used (If required) What if you disagree on the assessment outcome? You can appeal against a decision made in regards to your assessment. An appeal should only be made if you have been assessed as ‘Not Yet Competent’ against a specific unit and you feel you have sufficient grounds to believe that you are entitled to be assessed as competent. You must be able to adequately demonstrate that you have the skills and experience to be able to meet the requirements of units you are appealing the assessment of. Your trainer will outline the appeals process, which is available to the student. You can request a form to make an appeal and submit it to your trainer, the course coordinator, or the administration officer. The AHIC will examine the appeal and you will be advised of the outcome within 14 days. Any additional information you wish to provide may be attached to the appeal form. Academic Integrity: Academic Integrity is about the honest presentation of your academic work. It means acknowledging the work of others while developing your own insights, knowledge and ideas. As a student, you are required to: · Undertake studies and research responsibly and with honesty and integrity · Ensure that academic work is in no way falsified · Seek permission to use the work of others, where required · Acknowledge the work of others appropriately · Take reasonable steps to ensure other students cannot copy or misuse your work. Plagiarism: Plagiarism means to take and use another person's ideas and or manner of expressing them and to pass them off as your own by failing to give appropriate acknowledgement. This includes material sourced from the Internet, RTO staff, other students, and from published and unpublished work. Plagiarism occurs when you fail to acknowledge that the ideas or work of others are being used, which includes: · Paraphrasing and presenting work or ideas without a reference · Copying work either in whole or in part · Presenting designs, codes or images as your own work · Using phrases and passages verbatim without quotation marks or referencing the author or web page · Reproducing lecture notes without proper acknowledgement. Collusion: Collusion means unauthorised collaboration on assessable work (written, oral or practical) with other people. This occurs when a student presents group work as their own or as the work of someone else. Collusion may be with another RTO student or with individuals or student’s external to the RTO. This applies to work assessed by any educational and training body in Australia or overseas. Collusion occurs when you work without the authorisation of the teaching staff to: · Work with one or more people to prepare and produce work · Allow others to copy your work or share your answer to an assessment task · Allow someone else to write or edit your work (without rto approval) · Write or edit work for another student · Offer to complete work or seek payment for completing academic work for other students. Both collusion and plagiarism can occur in group work. For examples of plagiarism, collusion and academic misconduct in group work please refer to the RTO’s policy on Academic integrity, plagiarism and collusion. Plagiarism and collusion constitute cheating. Disciplinary action will be taken against students who engage in plagiarism and collusion as outlined in RTO’s policy. Proven involvement in plagiarism or collusion may be recorded on students’ academic file and could lead to disciplinary action. Assessment Formatting and Answer length Guidance: Your submitted document must follow the given criteria: · Font must be Times New Roman, Font size need to be 12 and line spacing has to be Single line. · Your assessment needs to be submitted as an electronic copy unless requested differently by your assessor. · The Assessment file name for electronic copy should follow : Student Id_Assessment_No ( Example AHI000014_Assessment 1 Referencing Include a reference list at the end of your work on a separate page or as footnotes. You should reference the sources you have used in your assessments in the Harvard Style. To access a web-based tool, see Harvard Style online generator http://www.harvardgenerator.com Introduction The assessment tasks for BSBFIN501 Manage budgets and financial plans are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course. Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully. Assessment for this unit BSBFIN501 Manage budgets and financial plans describes the performance outcomes, skills and knowledge required to undertake financial management in an organisation or work area. It includes planning and implementing financial management approaches and supporting and evaluating effectiveness of financial management processes. For you to be assessed as competent, you must successfully complete two assessment tasks: · Assessment Task 1: Knowledge questions – You must answer all questions correctly. · Assessment Task 2: Project – You must work through a range of activities and complete a project portfolio. Assessment Task 1: Knowledge questions Information for students Knowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you: · review the advice to students regarding answering knowledge questions in the Business Works Student User Guide · comply with the due date for assessment which your assessor will provide · adhere with your RTO’s submission guidelines · answer all questions completely and correctly · submit work which is original and, where necessary, properly referenced · submit a completed cover sheet with your work avoid sharing your answers with other students. i Assessment information Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on: · where this task should be completed · the maximum time allowed for completing this assessment task · whether or not this task is open-book. Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix C of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. Questions Provide answers to all of the questions below: 1. Explain the basic principle of double entry bookkeeping. Answer: 2. Complete the following table to describe the principles of cash and accrual accounting and an advantage and disadvantage of each method of accounting. Type