Free Sample
BSB51915 Diploma of leadership and management
Solution.pdf
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Student Declaration
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Student signature |
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Trainer/Assessor use only Trainers and assessors must complete this section (where applicable) and provide adequate feedback to the students throughout the assessment. |
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Assessments |
Satisfactory (S) |
Not Yet Satisfactory (NYS) |
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Initial |
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Assessment 1 |
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Assessment 2 |
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Assessment 3 |
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?The participant has been provided with feedback and informed of the assessment outcome. |
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Unit result (If the unit consists of other forms of assessments, e.g. placements, clinical skills, demonstrations, roleplays, etc.), please do not deem them competent until they have been assessed) |
Competent ? |
Not Yet Competent ? |
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Trainer/Assessor signature: |
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This page is left blank intentionally.
Assessment Instruction
Students are required to read and understand the assessment requirements before undertaking assessment activities.
Section 1: Unit details |
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About the unit |
This unit describes the skills and knowledge required to undertake financial management within a work team in an organisation. It includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances and reviewing and evaluating effectiveness of financial management processes. It applies to managers in a wide range of organisations and sectors who have responsibility for ensuring that work team financial resources are used effectively and are managed in line with financial objectives of the team and organisation. |
Pre-requisites |
N/A |
Relevant Legislation |
No licensing, legislative or certification requirements apply to this unit at the time of publication. |
Section 2: Assessment Requirements |
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Performance evidence |
Evidence of the ability to:
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once. |
Knowledge evidence |
describe basic accounting principles identify and explain the relevant legislation and current requirements of the Australian Taxation Office, including the Goods and Services Tax (GST) explain the key requirements for financiall record keeping and auditing
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Assessment resources and conditions |
All relevant assessment resources such as policies, templates, website links, articles and observation tools/checklists are made available separately or incorporated in the Assessment Pack itself. Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial management field of work and include access to:
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Assessment methods |
ACU College ensures that the assessments are conducted in a fair, flexible, valid and reliable manner. The following assessment methods have been designed to include the performance and knowledge evidence and the performance criteria of the unit of competency. You must attempt to answer all questions/tasks, complete demonstrations, role plays and workplace observations/performances in order to demonstrate competency in this unit. Assessments Assessment 1: Online quiz Assessment 2: Project Assessment 3: 3rd party supervisor observation |
Online quiz |
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Timings and Submission of Assessment/Exam |
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Reasonable adjustments |
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Results, feedback and appeal |
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Student Engagement through the assessments |
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Other relevant policies and forms |
Relevant policies and forms are available for you on LEO https://leo.acu.edu.au. It is your responsibility to familiarise yourself with required policies and forms. |
Assessment 1 – Online Quiz
Instruction
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Answer the following questions (a – h)
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Why should organisations collect, file and maintain accurate financial records
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What are the expectations of managers and supervisors in relation to budge or financial plans
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What are the reports that can be used for financial planning in an organisation?
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What is the process for preparing budgets or other financial plans
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What are two forms of budgeting used?
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Which form of budget allows changes to be made?
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Explain how contingency plans work
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Why should team or work groups members be actively involved in designing and developing contingency plans
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Answer the following questions
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How can employees be engaged in the preparation of financial reports, allowing details to be easily disseminated among team members
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Why should employees be involved in setting and monitoring the budget?
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What is responsibility accounting and what is the importance to an organisation?
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Whare are cost centres and give an example of cost centres that may be encountered in an organisation?
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Answer the following questions
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What is the importance of a cash flow budget or report and what data do you need to collect and from whom to construct a cash flow budget?
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Describe how the budget is used to monitor work, performance, variation and team outputs.
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Answer the following
Part A: What is the meaning of the following terms:
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Assets
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Liabilities
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Expenses
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Equity
Part B: Describe how the following may be used to inform a team’s operations:
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Variance analysis
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The general ledger
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Sales analysis report/budget report
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Variance analysis reports
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Revenue and expenditure report/budget
Part C: Explain why reports must be made to:
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Management
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Investors
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Creditors
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Government
Part D: what details might be provided in a financial report
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What is GST and how is it implemented? Who is required to register for GST and what pierce of legislation primarily governs GST
Assessment 2 – Project
Instruction
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Scenario
Conduct research or use an organisation that you know and get a copy of the annual report and answer the following questions: Part 1:
Part 2:
Part 3 Explain the following statement “Ratio analysis can help in measuring business performance and setting objectives/goals” |
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Type your question here
Assessment 3 – 3rd Party observation report
Instruction
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