BSBFIM601 Manage finances Learners Assessment Guide Assessment 2 XXXXXXXXXXRTO No: 21595 | CRICOS Code: 02634E BSBFIM601 Manage finances Assessment 2 Page 1 of 5 ©Copyright Academia International 2020...

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BSBFIM601 Manage finances
Learners
Assessment Guide
Assessment 2

XXXXXXXXXXRTO No: 21595 | CRICOS Code: 02634E
BSBFIM601 Manage finances Assessment 2 Page 1 of 5
©Copyright Academia International 2020 XXXXXXXXXXVersion 4 B XXXXXXXXXXApproved by: B.
Wade
Assignment Coversheet
Name:
Student ID:
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Unit name:
Unit Code:
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Student Declaration
I declare that –
a. The evidence I have submitted for assessment is my own work, and
. The evidence I have submitted for assessment has not been shared with other
students, and I have taken all reasonable precautions to ensure that my work cannot
e accessed by other students that may seek to submit my work as their own, and
c. All of the sources of information used to prepare my work have been, or may be
accurately cited, and
d. I retain a copy of all my original for my own records, or for resubmission if required by
Academia Australia, and
e. I have read and understood Academia Australia’s policy regarding plagiarism, and I
accept the right of Academia Australia to investigate suspected plagiarism, and to act
in accordance with the policy and procedure I have read.
Student Signature: __________________________________________
Date of Submission: ___ / /20


XXXXXXXXXXRTO No: 21595 | CRICOS Code: 02634E
BSBFIM601 Manage finances Assessment 2 Page 2 of 5
©Copyright Academia International 2020 XXXXXXXXXXVersion 4 B XXXXXXXXXXApproved by: B.
Wade
Assessment Information

 You must achieve a satisfactory outcome for each of the required criteria of this
assessment to be deemed satisfactory for this assessment. You must achieve a
satisfactory result for the assessments for this unit of competency to achieve a competent
esult for the unit. If one or more of the assessment results are not satisfactory, you will
e Not Yet Competent for this unit.
 You may follow the Assessment Appeals process in the Student Handbook
(www.academia21.com) if you are not satisfied with:
o the assessment result; or
o the way an assessment was ca
ied out by your trainer; or
o the conditions or structure of the assessment

The student handbook has the steps for reassessment if you receive a Not Yet Competent
mark and do not want to appeal.
Reasonable adjustment for assessment

Where students have highlighted Language, Literacy and Numeracy issues reasonable
adjustment to the assessment can be made. Should you receive a ‘Not Yet Competent’ or
‘Resubmit’ result for the assessment you will be given the opportunity to re-submit your
assessment work with any amendments requested by your trainer.

The adjustment may include actions such as:

• Student demonstrating knowledge through ve
al discussion to identify co
ect answers
• Student demonstrating knowledge through applied skills
• Allowing additional time relating to disability
• Through consultation amending assessment timeframes
• Assistance in the form of the training location to allow easier access
• Accessing relevant equipment or aids to assist the student
• Adjustments to the assessment methods to cater for any special needs (without effecting
the integrity of the outcome)
If a student requests or is identified as requiring reasonable adjustment to the training and
assessment process a detailed training and assessment plan including timetables, notes
egarding the required adjustments, and any related communications regarding the
adjustments must be maintained in the students file.

The RTO Manager must review and authorise any request for ‘reasonable adjustment’ to
ensure that any adjustments and resulting outcomes are not affecting the integrity of the
training and assessment process.

Location of and completion timeframes for assessment
The location of the assessment will depend upon the nature of the assessment.
Assessments such as; role plays, in class activities, presentations and knowledge questions
will be conducting in the classroom. The timeframes and due dates for these assessments,
as well as any reports, projects or research assignments, are documented in the stage
outlines. Stage outlines are handed out at the beginning of each term.
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XXXXXXXXXXRTO No: 21595 | CRICOS Code: 02634E
BSBFIM601 Manage finances Assessment 2 Page 3 of 5
©Copyright Academia International 2020 XXXXXXXXXXVersion 4 B XXXXXXXXXXApproved by: B.
Wade
Assessment 2 - Project 1
Task 1

Go to the Spreadsheet Task1 Support Material and calculate each of the following values in the
orange boxes using the co
ect formulae:

1. Net Cash Flow from Operations
2. Net Cash Flow from Investing Activities
3. Net Cash Flow from Financing Activities
4. Net Increase in Cash
5. Cash at End of Year

Task 2

For this Assessment, Your Trainer will provide you with the Spreadsheet Task 2 Support
Material.

A. On the first tab “Departments” you will find an overview of the existing budget figures for the
2018/2019 financial year.
B. Use the template “Draft Budget” on the second
Answered Same DayNov 15, 2021BSBFIM601Training.Gov.Au

Answer To : BSBFIM601 Manage finances Learners Assessment Guide Assessment 2 XXXXXXXXXXRTO No: 21595 | CRICOS...

Tanmoy answered on Nov 16 2021
66 Votes
BSBFIM601 Manage Finances
Assessment 2
Student’s Name: Robert
Assessment 2 - Project 1
Task 1
Introduction
It is the imperative of the Australian Finance Department to make sure that all the organizations adhere to financial probity. This means all organizations must conduct and operate their business in an ethi
cal manner and with honesty, integrity and uprightness. It is also important for all the organizations to do a financial probity check when sourcing funds or delivering any forms of services to the governments and corporate. It means analysis of business and the fairness, integrity and sincerity of the various financial practices with respect to the invoicing processes. Probity checks involve auditing, verification of the financial records and ensuring that the company adheres to all the licensing and legislative requirements. Also, all these requirements must be kept updated and documented. Thus we will discuss on the financial probity of Hotel Futura based on the projected cash flow statement analysis. Here we will also try to analyse how Hotel Futura can able to establish financial probity in their company.
Essential to avoid fraudulent behaviou
1. Hotel Futura must avoid from insider trading and providing inco
ect information
2. They should avoid evading taxes
3. They should not incorporate themselves in sham and unwa
anted exchanges of money
4. Finally, not indulge themselves in general crime like misappropriation of funds, siphoning of funds, embezzlements and cooking the books of accounts and displaying gloomy results to the stakeholders for acquiring more funds.
Projected Cash Flow Statement of Hotel Futura
    Hotel Futura
    
    
    
    
    
    Cash Flow Statement
    For the Year Ending 30/06/19
    
    
    Cash at Beginning of Yea
    22,900
    
    
    
    Operations
     
    Cash receipts from customers
    
    6,93,200
    Cash paid fo
    
    
    
    Inventory purchases
    -2,64,000
    
    General operating and administrative expenses
    -1,12,000
    
    Wage expenses
    -1,23,000
    
    Interest
    -13,500
    
    Income taxes
    -32,800
    Net Cash Flow from Operations
    1,47,900
    
    
    
    Investing Activities
     
    Cash receipts from
    
    
    
    Sale of property and equipment
    49,700
    
    Collection of principal on loans
    0
    
    Sale of investment securities
    0
    Cash paid fo
    
    
    
    Purchase of property and equipment
    -98,300
    
    Making loans to other entities
    0
    
    Purchase of investment securities
    0
    Net Cash Flow from Investing Activities
    -48,600
    [42]
    
    
    Financing Activities
     
    Cash paid fo
    
    
    
    
     
    
    Repayment of loans
    -64,000
    
    Dividends
    -33,000
    Net Cash Flow from Financing Activities
    -97,000
    
    
    
    Net Increase in Cash
    2,300
    
    
    
    
    Cash at End of Yea
    25,200
Cash Flow Statement Analysis
As per the projected cash flow statement of Hotel Futura it can be stated that the cash at the end of the year is positive and hence illustrates a positive cash flow of $25000. This means there is growth prospects for Hotel Futura in the form of a positive cash flow which will help to operate its business smoothly. If we observe the net cash flow from operations we can see that it is...
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