Assessment Instructions
Elements:
Plan for financial management
Establish budgets and allocate funds
Implement budgets
Report on finances
Assessment details
• This is assessment three of three for this unit.
• This is a summative assessment.
• This assessment is double sided.
• It is an open book assessment.
• This is a classroom assessment and must be completed individually.
• All questions are to be answered correctly to be deemed Satisfactory in the assessment.
• The cover page and the assessor receipt sheet must be completed in full when you hand in the assessment.
• This assessment must be handed in by the due date or it will be deemed an automatic NYS. If that is the case the student will be charged a reassessment fee if the assessors deems it NYS when they mark it.
BSBFIM601 Manage Finances Assignment-Australian National Institute Business and Technology.
Candidate Instructions
Assessment must be word processed.
You are to use Font Arial 12 for the body of the Project – headings may be in Arial 14.
Ask your assessors if you do not understand a question. Whilst your assessor cannot give you the answer he/she may be able to re word the question so it is easier for you to understand.
Special Instructions
The assessor will go through the instructions with the candidate as per the Project Guidelines Sheet.
ANIBT’s normal rules of assessment apply for this assessment – please refer to the Delivery and Assessment Strategy for this unit (given at the commencement of the unit) and your student Handbook for the following details:
Access and Equity
Plagiarism
Collusion
Assessment Process
Assessment Appeals
Re-Assessment
Assessor Instructions
Assessor is to follow the instructions with the candidate as per the Project Guidelines Sheet.
ANIBT’s normal rules of assessment and assessor instructions and guidelines are detailed in the Trainer and Assessor responsibilities handbook.
BSBFIM601 Manage Finances Assignment-Australian National Institute Business and Technology.
Undertake your own research to obtain an organisation’s annual report. You can use one from an organisation with which you are familiar or one which is freely available on the internet or from ASIC(Australian Securities and Investments Commission). Alternately, your trainer/ assessor might provide you with one.
Answer these questions:
1.To whom is this report disseminated and how does this take place?
2.Why might these recipients need or want the information contained in the annual report?
3.What information is contained in the report? Describe the contents and explain what it disclosed about the organisation’s financial activities during the year.
4.Is there any evidence that those within the organisation used consolidation or conversion procedures to analyse the financial data which was available?
5.Has the organisation disclosed any asset or liability valuations? If so, what do they indicate?
6.Is there any indication of any discrepancies, unusual features of queries about the financial data? Describe.
7.Does it appear that the organisation claimed all available benefits and allowances?Explain.
8.Did the organisation record details of its income and expenditure? Is evidence provided? Provide details.
9.Examine the financial summaries for information about the financial status of the organisation. Did the organisation show a profit?
10.What sorts of recommendations are made and what suggestions are made regarding business activities for the upcoming year? Are they constructive?
BSBFIM601 Manage Finances Assignment-Australian National Institute Business and Technology.
11.Is the report and any recommendation clear and logical?
12.Has the organisation complied with its statutory requirements? Explain.
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