STUDENT STUDENT STUDENT STUDENT - PRACTICAL ASSESSMENT TASK Task Number 2 of 3 Task Name AT 2 National unit/s code BSBSMB405 National unit/s title Monitor and manage small business operations...

1 answer below »
use by own word


STUDENT STUDENT STUDENT STUDENT - PRACTICAL ASSESSMENT TASK Task Number 2 of 3 Task Name AT 2 National unit/s code BSBSMB405 National unit/s title Monitor and manage small business operations FNSACC408 Work effectively in the accounting and bookkeeping industry National qualification code FNS40217 National qualification title Certificate IV in Accounting and Bookkeeping RMIT Program code RMIT Course code Section A - Assessment Information Duration and/or due date: Task Instructions Summary and Purpose of Assessment This practical assessment task is the second of three assessment tasks you need to complete satisfactorily, in order to be deemed competent for this unit. This practical assessment will allow you to explore an organisation from the perspective of a bookkeeper and develop a policies and procedure manual. Assessment Instructions What There are 3 parts to this task, you will be required to complete: Part 1: Working as a bookkeeper Part 2: Policies and procedures manual Part 3: Meeting with CEO Part 1: Working as a bookkeeper For your own organisation, or a business provided to you by your Assessor (the ‘Practice Firm’), you will take on the role of the bookkeeper and report on the 4 key areas of the business outlined below. Use the template provided in AT2 Part 1 Working as a bookkeeper, to write your report. You may draw on class materials, workplace documents, research documents, information for your workplace, or a combination of these. When referencing any additional content which is not your own, please cite the source and give full details. 1. Background (400 words) · What is the main business of the organisation you’ve selected? · What type of regulatory environment does it operate in? · Who are the major stakeholders (internal and external)? · What products and/or services does it provide? · What are some of the roles within the organisation – profile 3 of these, explaining the duties and expectations commonly required of these job-holders · What specialist or technical skills are required by one or more job-holders in this organisation? 2. Information and communication (500 words) · What information must the organisation provide to others – such as stakeholders (internal and external) – describe 3 stakeholders and the information which must be provided. · To whom would you direct stakeholders for advice and other services? · What information must be collected from others? Explain 3 different sets of information. · Discuss 2 ways the organisation can find out their clients’ needs or buying requirements · Discuss at least one method the organisation could use to gain feedback on client satisfaction · What technology (give 2 types) can be used to carry out information collection and sharing of feedback to the team? · Discuss how you could support the team to identify and resolve problems that affect performance. 3. Improving performance – self and team (400 words) Remember that you work in this organisation as a bookkeeper, answer the questions whilst ‘in role’. · What are your major tasks and responsibilities? Discuss at least 4. · How could you plan and prioritise your tasks and time better, to get the best out of your day? · Discuss 2 techniques or strategies you could trial to enhance your effectiveness · Explain how you could keep your competency and compliance obligations current and how you could continue to do in future. 4. Implementing performance improvement – self and team (500 words) Select a specific area of the business to focus on with an aim of performance improvement. · What area of the business have you selected? · What is your performance improvement idea? · What are the benefits and risks of this idea? · How would you minimise risks if you carried out this improvement? · What resources would you need to make this improvement? · How would you manage the various stakeholders and address communication needs? Part 1 Complete the following: · AT2 Part 1 Working as a bookkeeper Part 2: Policies and procedures manual Prepare a financial policies and procedures manual (800 – 1000 words) for the role of the bookkeeper, either for your own workplace or the ‘Practice Firm’ provided by your Assessor. Ensure the policies and procedures manual covers: · Policy statement · Purpose definitions · General financial transactions · Purchases · Salaries and wages · Computing / electronic accounting · Financial records and reporting · Legislation Part 2 Complete the following: · Financial policies and procedures manual (800 – 1000 words) Part 3: Meeting with CEO Organise a 15 minute meeting with your CEO (to be roleplayed by your Assessor). In the meeting you a to brief the CEO on the financial policies and procedures manual you have created. The CEO will provide you with feedback on how well the policies and procedures meet the needs of the organisation, and comply with legislative requirements. Take notes during the meeting and complete AT3 Meeting minutes. Then amend your financial policies and procedure manual in line with the feedback received. Save the amended manual as Version 2. Part 3 Complete the following: · AT2 Part 3 Meeting minutes · Financial policies and procedures manual Version 2 Where You will be provided some class time to work on this assessment, however, it is expected that the majority of this assessment will be completed outside of class. How You will be assessed against the criteria as listed in the observation checklist in Section B of this task. To achieve a satisfactory result, you will need to address all criteria satisfactorily. Conditions for assessment · You must be observed undertaking this task by a qualified assessor · Your assessor will negotiate a suitable time and location for assessment at least one week prior to the assessment taking place · You must complete the task within the maximum allowed duration · This is an individual task that you must complete with minimal support from others (allowed support would be questions related to the location of equipment needed) · Please make arrangements with your assessor at least one week prior to the assessment due date if you feel you require special allowance or allowable adjustment to this task · You must complete all the actions as listed in the observation checklist to the standard described in Section B to be deemed satisfactory in this assessment · As part of the practical assessment, the student will need to submit the completed Part 1 – 3: · Part 1: Working as a bookkeeper · Part 2: Policies and procedures manual · Part 3: Meeting with CEO · Please ensure your full and correct name is written on the student version of this assessment task (do not use nicknames or abbreviations) · You will be assessed as satisfactory or not satisfactory · You can appeal the assessment decision according to the RMIT Assessment Processes Instructions on submitting your Assessment Evidence There are 3 parts to this task, you will be required to complete: Part 1: Working as a bookkeeper Part 2: Policies and procedures manual Part 3: Meeting with CEO You will be assessed against the criteria as listed in the observation checklist in Section B of this task and how well you answer the questions asked by your assessor. To achieve a satisfactory result, you will need to address all criteria satisfactorily. Please ensure your full and correct name is written on the student version of this assessment task (do not use nicknames or abbreviations) Equipment/resources students must supply: Equipment/resources to be provided by RMIT or the workplace: · Computer and relevant software · Access to own workplace, including policies and procedures · Onsite computer and internet access · ‘Practice Firm’, including policies and procedures · AT2 Part 1 Working as a bookkeeper · AT2 Part 3 Meeting minutes Section B – Observation Checklist TASK: Describe the task – context and conditions for assessment. Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting and bookkeeping field of work and include access to: · Organisational policies, procedures, legislation, regulations and codes of practice required for own role · Office equipment, technology, software and consumables required for own role, including an integrated financial software system and data. List the actions to be observed Satisfactory Not Satisfactory Marking Guide Develop professional working relationships: · Clarify business needs and expectations of work to be done through clear communication with key stakeholders · Determine roles and responsibilities of various members of the accounting and tax profession according to business needs · Identify activities that fall outside own role and responsibilities, and identify networks of individuals able to carry out those activities · Refer business owner to networks for advice and services where applicable · Request feedback on range, type and quality of service to be provided and act on feedback, where applicable · Identify and use ethical principles and practices in own role and responsibilities ☐ ☐ Student to submit completed AT2 Part 1 Working as a book keeper. All points in ‘Background’ are to be covered, including: · What is the main business of the organisation you’ve selected? · What type of regulatory environment does it operate in? · Who are the major stakeholders (internal and external)? · What products and/or services does it provide? · What are some of the roles within the organisation – profile 3 of these, explaining the duties and expectations commonly required of these job-holders · What specialist or technical skills are required by one or more job-holders in this organisation? Word limit 400 words All points in ‘Information and communication’ are to be covered, including: · What information must the organisation provide to others – such as stakeholders (internal and external) – describe 3 stakeholders and the information which must be
Answered 2 days AfterApr 18, 2021FNSACC408Training.Gov.Au

Answer To: STUDENT STUDENT STUDENT STUDENT - PRACTICAL ASSESSMENT TASK Task Number 2 of 3 Task Name AT 2...

Tanmoy answered on Apr 20 2021
134 Votes
Part A: Working as a bookkeeper
1. Background
I have selected On The Water Mediterranean Restaurant for my main business of the organisation.On the Water is a new Mediterranean restaurant on the Sunset Strip.On The Water is a business that envelopes fine dining of unique mediterranean taste and an excellent bar and grill atmosphere.This is internal major stakeholders.
The restaurant is led by Lily Valdivia, an industry veteran. Her restaurant experience began 12 years ago as a server.For the
last five years Lily has been the manager at a European restaurant with over $2.5 million in annual sales.
One thing that is always consistent with On the Water is their impeccable service. All server staff hired have extensive experience and all go through three weeks of training, ensuring benchmarked customer service. On the Water's services are all delivered in their extraordinary atmosphere which includes a comprehensive art and culture collection from Mediterranean Europe. This provides an authentic surrounding that at times seems to distract everyone as they analyze the wealth of artifacts on display.
Our dining environment is not only welcoming and sophisticated, it is unique in design, with walls on almost all sides that are constantly wet with running water and a lush jungle ceiling that will hang from above. We concentrate on customer satisfaction and quality food that is always fresh and specially selected. We will not judge a customer on class or dress. We want the On the Water grill to be place people can enjoy a good meal and meet new friends at our tropical Mediterranean Honey bar located inside the restaurant.
2. Information and communication
Internal stakeholders are groups or people who work directly within the business, such as managers, employees, and owners. Managers and employees want to earn high wages and keep their jobs, so they have a vested interest in the financial health and success of the business. Owners want to maximize the profit the business makes as compensation for the risks they take in owning or running a business.
3. Improving performance- self and team
Bookkeepers provide essential services to businesses by processing and recording everyday transactions and producing financial statements.
Bookkeepers may also be required to prepare and lodge Business Activity Statements (BAS) for taxation purposes.
Daily tasks for a Bookkeeper
The responsibilities of a Bookkeeper vary according to the size and nature of their employer, and may include:
· Recording the financial transactions of a business in bookkeeping software (such as MYOB or QuickBooks), spreadsheets or databases.
· Arranging payment of accounts.
· Preparing and sending invoices and receipts to debtors.
· Processing payroll and maintaining employee records.
· Carrying out bank reconciliations.
· Reporting for preparation of a Business Activity Statement (BAS).
· Checking figures and reporting for accuracy.
· Reporting any irregularities in data to management.
· Producing balance sheets, income statements and other financial documents.
4. Implementing performance improvement- self and team
Good Lighting- Lighting both window and interior displays is important. But good lighting design can also contribute to a warm, welcoming ambiance. Featured items may be spotlighted from the ceiling or lit from below to distinguish them from other displays.
Customer Service: Customer service is the act of providing support to both prospective and existing customers. Customer service professionals commonly answer customer questions through in-person, phone, email, chat, and social media interactions and may also be responsible for creating documentation for self-service support.
The company's resources provided by customers are the foundation, lifeblood, word of mouth, and core competitiveness. Potential customers bring continuous revenue to the enterprise, which is exactly the charm of customer service.
First, good service will bring more business. The quality of service is usually the only factor that makes similar products stand out in market competition.
Second, the service must be provided immediately. Service is an instant action. When customers have demand or dissatisfaction, providing instant and effective services is the best time to impress customers
Part 2: Policies and procedures manual
Policy statement
The mission of ‘On the water Mediterranean restaurant’ will be to deliver unique and fine dining facilities along with an enhanced area of bar and grill provisions. Also, its mission aims to deliver a high class, friendly and efficient service along with food of great tastes, varieties and flavour. The ultimate aim of the restaurant is to provide its customers with a new experience of sophisticated designs and ambience where water will flow from the walls along with a lush jungle ceiling which will hung from above.
The vision of the ‘On the water Mediterranean restaurant’ will be to become the world class restaurant in...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here