annotated-601-ASSESSMENT%201-1

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BSBFIM601 Manage Finances ACTIVITIES 1 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM ASSESSMENT 1 OF 3 – ACTIVITY BSBFIM601 Manage Finances STUDENT Student Name Student Number Due Date : Trainer Name : I …………………………………………(student name) Declare that I have been fully informed of the assessment and re-assessment processes and the answers to the questions in this assessment are my own work and are not copied or plagiarised. Student Signature ASSESSOR Assessor Name – Signature of Assessor : Date assessment submitted: Candidate submitted assessment after the due date - NOT YET SATISFACTORY Candidate submitted on or before the due date and was deemed as: (please tick) SATISFACTORY NOT YET SATISFACTORY ASSESSOR COMMENTS RE-ASSESSMENT Date Assessor Name Signature of Assessor The Candidate was deemed as: (please tick) SATISFACTORY NOT YET SATISFACTORY Candidate was still deemed Not Yet Satisfactory – see student services Office use only : COMMENTS Student to be re-assessed with charge Student to be re-assessed without charge Student to repeat unit at a later date with charge
BSBFIM601 Manage Finances ACTIVITIES 2 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM Assessment Instructions This assessment addresses the following elements ELEMENTS 1. Plan for Financial Management 2. Establish budgets and Allocate funds 3. Implement Budgets 4. Report on Finances Assessment details This is assessment one of three for this unit. This is a summative assessment. This assessment is single sided. It is an open book assessment. This assessment must be completed individually. All questions are to be answered correctly to be deemed Satisfactory in the assessment. The cover page must be completed in full when you submit the assessment. This assessment must be submitted in by the due date or it will be deemed an automatic NYS. If that is the case the student will be charged a re- assessment fee if the assessors deem it NYS when they mark it. Candidate Instructions Assessment must be completed electronically and submitted. 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 There are no special instructions for this assessment. 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 - Re-Assessment - Assessment Appeals Assessor Instructions There are no special instructions for the assessor. ANIBT’s normal rules of assessment and assessor instructions and guidelines are detailed in the Trainer and Assessor responsibilities handbook.
BSBFIM601 Manage Finances ACTIVITIES 3 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM ACTIVITY 1a Identify an area of business and explain how you could use different forms of current and present financial data to ascertain whether the department made a profit or a loss. You do not have to use actual figures from your business. ACTIVITY 1b 1. Using your answer from the previous activity, explain how you would undertake research to review the reasons for the profit or loss. Think about contributors of success, contributors to losses and other factors.
BSBFIM601 Manage Finances ACTIVITIES 4 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM ACTIVITY 1c 1. Using your business plan, identify your business’ critical dates in terms of income and resource use and generation. Think about seasonality and other contributing factors . ACTIVITY 1d 1. Explain 3 aspects on how and why you would analyse your business’ cash flow trends HOW WHY
BSBFIM601 Manage Finances ACTIVITIES 5 ANIBT Assessment Tool Version 3.1 Date: September 2018 AAP TM ACTIVITY 1e 1. Explain three types of taxes that are applied to your business? including the rates and geographical variations, if applicable. 1 2 3 ACTIVITY 1f 1. Give 2 pro’s and 2 cons of financial software in your business environment Pro’s Con’s 1 2 ACTIVITY 2a 1. Give an example of how you could use previous financial data to determine the allocation of resources. Explain the figures and how you would allocate resources accordingly
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