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29 Nov
2019

52449 – Student Assessment TasksFNSACC607 Evaluate business performance | NO PLAGIARISM

Student Assessment TasksFNSACC607 Evaluate business performanceTable of ContentsTable of Contents 2Assessment Information 3Assessment Instructions 5Student Assessment Agreement 6Assessment Task 1 Cover Sheet 7Assessment Task 1: Written Questions 8Assessment Task 1 Instructions 10Assessment Task 1 Checklist 12Assessment Task 2 Cover Sheet 13Assessment Task 2: Performance Report 14Assessment Task 2 Instructions 16Assessment Task 2 Checklist 18Assessment Task 3 Cover Sheet 19Assessment Task 3: Improvements project 20Assessment Task 3 Instructions as provided to students 21Assessment Task 3 Checklist 24Assessment InformationThe assessment tasks for FNSACC607 Evaluate business performance are included in this Student Assessment Tasks booklet and outlined in the assessment plan below.To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.Assessment PlanAssessment Task Overview1. Written questions You must correctly answer all questions.2. Performance Report You must analyse data and prepare a performance report which analyses trends and evaluates operational performance.3. Improvements project You must analyse data and make improvements to current processes.Assessment PreparationPlease read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.When you have read and understood this unit’s assessment tasks, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.Assessment appealsIf you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s assessment appeals process.You have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.Naming electronic documentsIt is important that you name the documents that you create for this Assessment Task in a logical manner.Each should include:• Course identification code• Assessment Task number• Document title (if appropriate)• Student name• Date it was createdFor example, FNSACC607 Performance Report Joan Smith 20/10/19Additional ResourcesYou will be provided with the following resources before you begin each Assessment Task.Assessment Task 2• Profit and Loss 2016/17• Profit and Loss 2017/18• Strategic Business Plan• Budget Forecast 2017/18• Cash Flow Statement 2016/17• Cash Flow Statement 2017/18• Estimated Costs and Income• Finance Policy and Procedures• Performance Report TemplateAssessment Task 3• Aged Debtor Monitoring• Debtor Management Policy and Procedures Template• Debtor Management Report Template• Aged Debtor ReportAssessment InstructionsEach assessment task in this booklet consists of the following:Assessment Task Cover SheetThis must be filled out, signed and submitted together with your assessment responses.If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit the file.The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as peryour RTO’s re-assessment policy.Depending on the task, this may include• resubmitting incorrect answers to questions (such as short answer questions and case studies)• resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task• redoing a role play after being provided with appropriate feedback about your performance• being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time, after being provided with appropriate feedback.Assessment Task InformationThis gives you:• a summary of the assessment task• information on the resources to be used• submission requirements• re-submission opportunities if requiredAssessment Task InstructionsThese give questions to answer or tasks which are to be completed.Your answers need to be typed up using software as indicated in the Assessment Task Instructions.Copy and paste each task’s instructions into a new document and use this as the basis for your assessment task submission. Include this document’s header and footer.If you are submitting electronically, give the document a file name that includes the unit identification number, the task number, your name and the date.ChecklistThis will be used by your assessor to mark your assessment. Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses.Student Assessment AgreementMake sure you read through the assessments in this booklet before you fill out and sign the agreement below.If there is anything that you are unsure of, consult your assessor prior to signing this agreement.Have you read the assessment requirements for this unit? • Yes • NoDo you understand the requirements of the assessments for this unit? • Yes • NoDo you agree to the way in which you are being assessed? • Yes • NoDo you have any specific needs that should be considered? • Yes • NoIf so, explain these in the space below.Do you understand your rights to re-assessment? • Yes • NoDo you understand your right to appeal the decisions made in an assessment? • Yes • NoStudent nameStudent numberStudent signatureDateAssessor nameAssessor signatureDateAssessment Task 1 Cover SheetStudent DeclarationTo be filled out and submitted with assessment responses• I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).• I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.• I have correctly referenced all resources and reference texts throughout these assessment tasks.Student nameStudent ID numberStudent signatureDateAssessor declaration• I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.Assessor nameAssessor signatureDateAssessment outcome S NS DNS Resubmission Y NFeedbackStudent result response• My performance in this assessment task has been discussed and explained to me.• I would like to appeal this assessment decision.Student signatureDateA copy of this page must be supplied to the office and kept in the student’s file with the evidence.Assessment Task 1: Written QuestionsTask summaryThis is an open book test, to be completed in the classroom.A time limit of 1 hour to answer the questions is provided.You need to answer all of the written questions correctly.Your answers must be word processed and sent to the assessor as an email attachment.Required• Access to textbooks and other learning materials• Computer with Microsoft Office and internet accessTimingYour assessor will advise you of the due date of this assessment.Submit• Answers to all questionsAssessment criteriaAll questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.Re-submission opportunitiesYou will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.Written answer question guidanceThe following written questions use a range of “instructional words” such as “identify” or “explain”, which tell you how you should answer the question. Use the definitions below to assist you to provide the type of response expected.Note that the following guidance is the minimum level of response required.Analyse – when a question asks you to analyse something, you should do so in detail, and identify important points and key features. Generally, you are expected to write a response one or two paragraphs long.Compare – when a question asks you to compare something, you will need to show how two or more things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are expected to write a response one or two paragraphs long.Contrast – when a question asks you to contrast something, you will need to show how two or more things are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to write a response one or two paragraphs long.Discuss – when a question asks you to discuss something, you are required to point out important issues or features and express some form of critical judgement. Generally, you are expected to write a response one or two paragraphs long.Describe – when a question asks you to describe something, you should state the most noticeable qualities or features. Generally, you are expected to write a response two or three sentences long.Evaluate – when a question asks you to evaluate something, you should put forward arguments for and against something. Generally, you are expected to write a response one or two paragraphs long.Examine – when a question asks you to examine something, this is similar to “analyse”, where you should provide a detailed response with key points and features and provide critical analysis. Generally, you are expected to write a response one or two paragraphs long.Explain – when a question asks you to explain something, you should make clear how or why something happened or the way it is. Generally, you are expected to write a response two or three sentences long.Identify – when a question asks you to identify something, this means that you are asked to briefly describe the required information. Generally, you are expected to write a response two or three sentences long.List – when a question asks you to list something, this means that you are asked to briefly state information in a list format.Outline – when a question asks you to outline something, this means giving only the main points, Generally, you are expected to write a response a few sentences long.Summarise – when a question asks you to summarise something, this means (like “outline”) only giving the main points. Generally, you are expected to write a response a few sentences long.Assessment Task 1 InstructionsProvide answers to all of the questions below:1. Identify the main principles of capital budgeting and investment analysis.2. Describe the payback period method.3. Describe the net-present value method.4. Describe the internal rate of return method.5. Describe the accounting rate of return method.6. Describe the key principles of valuation.7. Describe three valuation techniques.8. Describe the cost-benefit analysis process.9. Describe three statistical analysis ratios that are commonly used by accountants.10. Discuss four situations that could be a conflict of interest when working as an accountant.11. Discuss the relationship between an accountant and their client in relation to confidentiality if the accountant is engaging in outsourcing.12. Discuss the legal duty of disclosure and provide an example of when this may be required.Assessment Task 1 ChecklistStudent’s name:Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? Completed successfully CommentsYes NoQuestion 1Question 2Question 3Question 4Question 5Question 6Question 7Question 8Question 9Question 10Question 11Question 12Task Outcome: Satisfactory • Not Satisfactory •Assessor signatureAssessor nameDateAssessment Task 2 Cover SheetStudent DeclarationTo be filled out and submitted with assessment responses• I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).• I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.• I have correctly referenced all resources and reference texts throughout these assessment tasks.Student nameStudent ID numberStudent signatureDateAssessor declaration• I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.Assessor nameAssessor signatureDateAssessment outcome S NS DNS Resubmission Y NFeedbackStudent result response• My performance in this assessment task has been discussed and explained to me.• I would like to appeal this assessment decision.Student signatureDateA copy of this page must be supplied to the office and kept in the student’s file with the evidence.Assessment Task 2: Performance ReportTask summaryThis assessment task requires as student to analyse data and prepare a performance report which analyses trends and evaluates operational performance.This assessment is to be completed in the simulated work environment in the RTO.Required• Access to textbooks and other learning materials• Computer with Microsoft Office and internet access• Profit and Loss 2016/17• Profit and Loss 2017/18• Strategic Business Plan• Budget Forecast 2017/18• Cash Flow Statement 2016/17• Cash Flow Statement 2017/18• Estimated Costs and Income• Finance Policy and Procedures• Performance Report TemplateTimingYour assessor will advise you of the due date of these submissions.Submit• Email with performance report attachedAssessment criteriaFor your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence.Re-submission opportunitiesYou will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.Assessment Task 2 InstructionsCarefully read the following:Grow Management Consultants specialises in leadership consultancy. It has been operational for five years. The company offers a range of services to assist companies to assess leadership behaviour of existing managers and performance metrics. They also design and implement customised leadership programs based on the assessment. Services are offered Australia-wide.The company employs a General Manager (you), two Principal Consultants (who are also Directors), one Senior Consultant, an Administration Officer and a Receptionist.The company used to offer regular professional development workshops on all aspects of leading and managing staff. The workshops were conducted every 3 months in Sydney, Brisbane and Melbourne. In 2016/17, the company ran a total of 36 workshops. The company also produced an E-book about leadership techniques.During 2017/18 the workshops were replaced with an annual conference, as the workshops were not well attended. Client feedback and continued business indicates that a personalised, company-focused approach in the form of consulting services is the service of choice and an annual conference was held to better support this.The E-book has had reasonable sales, but there needs to be a wider selection of books, as well as more marketing. The plan was to generate $10,000 worth of sales for the e-books during the 2017/18 financial year and to increase that over time.As the General Manager for the company with responsibility for finances, you are required to analyse organisational performance and trends to evaluate the business operations, develop performance indicators and identify options for improvement.One of the Principal Consultants also wants you to do some figures and analyse whether a new venture might prove to be worthwhile. A competitor consultant who focuses on the development and sale of leadership and management books and motivational authors is retiring and is looking at selling his business. He has approached Grow Management to see if there is any interest in buying his company. The Principal Consultant has provided you with the following figures:• Initial investment: $255,000• Expected monthly income: first year: $15,000• Expected monthly income: second year: $25,000Complete the following activities:1. Review business dataBegin by reviewing the company’s Strategic Business Plan and Finance Policy and Procedures.Then analyse the financial data in the following documents:• Profit and Loss 2016/17• Profit and Loss 2017/18• Budget Forecast 2017/18• Cash Flow Statement 2016/17• Cash Flow Statement 2017/18• Estimated Costs and Income2. Prepare a performance report for the directors.Based on your analysis, develop a report that includes:• Review of overall performance and gross/net profit margins.• Calculation of variation in actual versus budgeted amounts for each income source.• Calculation of variation in actual versus budgeted costs.• Identify the discrepancies between agreed budget allocations for the conference and the actual figures• Recommended revisions to the 2019 conference budget.• Proposed conference fee for the 2019 conference assuming attendance of 70 people and to make a profit of at least 20%. Show your calculations.• Evaluation of variations against trends• Evaluation of strategic objectives and if these are being met• Research on current business environmental factors in relation to property investment for the business• Evaluation of new investment option to determine the payback period and the return on investment• Development of performance indicators.Use the Performance Report Template to guide your work.3. Send an email to the Principal Consultant (your assessor)The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.It should introduce and summarise the contents of the attachment and ask for their feedback.Attach your Performance Report to the email.Assessment Task 2 ChecklistStudent’s name:Did the student: Completed successfully CommentsYes NoAnalyse the business information to review overall performance and gross/net profit margins?Calculate variations in actual versus budgeted amounts for each income source?Analyse cost variations in actual versus budgeted costs?Identify discrepancies between forecasted and actual budget for the conference held?Recommend revisions to the conference budget and propose a new conference fee in line with analysis?Analyse trends and variations and assess trends in relation to strategic business objectives?Report on the current economic environment and comment on how environment may be conducive to investment opportunities?Perform capital budgeting techniques by working out payback period and return on investment for the new venture.Develop performance indicators for the business based on evaluations?Task Outcome: Satisfactory • Not Satisfactory •Assessor signatureAssessor nameDateAssessment Task 3 Cover SheetStudent DeclarationTo be filled out and submitted with assessment responses• I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s).• I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me.• I have correctly referenced all resources and reference texts throughout these assessment tasks.Student nameStudent ID numberStudent signatureDateAssessor declaration• I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.Assessor nameAssessor signatureDateAssessment outcome S NS DNS Resubmission Y NFeedbackStudent result response• My performance in this assessment task has been discussed and explained to me.• I would like to appeal this assessment decision.Student signatureDateA copy of this page must be supplied to the office and kept in the student’s file with the evidence.Assessment Task 3: Improvements projectTask summaryIn this assessment task, you will need to analyse data and make improvements to current processes.This assessment is to be completed in the simulated work environment in the RTO.Required• Access to textbooks and other learning materials• Computer with Microsoft Office and internet access• Aged Debtor Monitoring• Debtor Management Policy and Procedures Template• Debtor Management Report Template• Aged Debtor Report• Finance Policy and ProceduresTimingAdvise the student of the due date of these submissions.Submit• Email with aged debtor management report attached• Email with debtor management policy and procedures attached• Email with aged debtor monitoring analysisAssessment criteriaStudents must complete all of the activities listed and will be assessed against the assessment criteria included in the checklist included with this task.Re-submission opportunitiesIf a student submits work that is not satisfactory, the assessor will provide written feedback explaining why, as well as timelines for resubmission.Assessment Task 3 Instructions as provided to studentsCarefully read the following:The company’s directors have read your performance report and recommendations and are happy with what you have prepared for them.They have asked you to look at the debtor management system, as this is an area that is likely to inhibit cash flow in the future.Complete the following activities:1. Write a debtor management report.Review the Aged Debtor Report, noting that the company’s usual terms are payment 10 days from invoice.Using the Internet, research best practice debtor management and make notes on your findings.Your report should be approximately 1 page.Provide a report for your CEO based on your analysis that includes:• A summary: give your interpretation of the information in the aged debtor report.• Good practice debtor management• Develop at least five recommendations that could be adopted by the company in response to your analysis. This will also be based on the debtor management research you conducted.Use the Debtor Management Report Template to guide your work.2. Send an email to the Principal Consultant (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.It should introduce and summarise the contents of the attachment and seek their approval to implement best practice debtor management processes.Attach your Debtor Management report to the email.In response to your recommendations, the Principal Consultant has asked you to develop a debtor management policy for the company. The objectives and procedures should be developed and implemented in relation to customer invoices.3. Establish new organisational objectives, policy and procedures.You are required to develop and debtor management policy and procedures for Grow Management Consultants’ customer payments.The procedures should include a range of simple steps, from a friendly reminder to sending a formal letter of demand. It should be should be approximately one-page long.After formal approval it will be inserted at the end of the company’s Finance Policy and Procedures.Use the Debtor Management Policy and Procedures Template to guide your work.4. Send an email to the Administration Officer (your Assessor)The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.The email text should request a meeting to discuss the changes that are being made to the company’s debtor recovery procedures.The text should ask them to review the attachment prior to the meeting.Attach your debtor management policy and procedures to the email.5. Participate in a meeting with the Administration Officer (your assessor).You are required to discuss the debt recovery procedures that you have developed with the Administration Officer. They will be implementing the changes from that meeting onwards, so both of you have to be clear on what the procedure will be.During the meeting you will be required to demonstrate effective communication skills including:• Speaking clearly and concisely• Using non-verbal communication to assist with understanding• Asking questions to identify required information• Responding to questions as required• Using active listening techniques to confirm understanding.it is six months later, and you have received a monitoring summary of the company’s current aged debts to determine the effectiveness of the new debtor management procedure implementation.6. Monitor debtor management proceduresReview the Aged Debtor Monitoring.Compare it against the Aged Debtor Summary to determine the effectiveness of the new debtor management procedures.7. Send an email to the Principal Consultant (your assessor).The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.It should summarise your findings regarding your analysis of the Aged Debtor Monitoring.Assessment Task 3 ChecklistStudent’s name:Did the student: Completed successfully CommentsYes NoCorrectly identify issues in the aged debtor report to identify factors inhibiting performance?Analyse and report on the effectiveness of financial management processes in relation to debtor management to minimise or eliminate factors that may inhibit performance?Document options and recommendations for appropriate improvements to debtor management practices to improve business performance?Establish new organisational objectives, policy and procedures in relation to debtor management to improve cash flow?Communicate changes in process to Administration Office via email and informing them of meeting to discuss?During the meeting, demonstrate effective communication skills including:• Speaking clearly and concisely• Using non-verbal communication to assist with understanding• Asking questions to identify required information• Responding to questions as required• Using active listening techniques to confirm understandingMonitor the performance of the debtor management processes implemented?Task Outcome: Satisfactory • Not Satisfactory •Assessor signatureAssessor nameDate

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