BSBFIM501_SAT_Manage budgets and financial plans.docx - Student Assessment Tool BSBFIM501 Manage budgets and financial plans Student Name Qualification

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Student Assessment Tool BSBFIM501 Manage budgets and financial plans Student Name Qualification Name Version 2.0 Assessment Overview .......................................................................................................................................... 3 About Your Assessments ................................................................................................................................. 3
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How to Submit Your Assessments ................................................................................................................... 3 Assessment Task Cover Sheet ........................................................................................................................ 3 Assessment Appeals ....................................................................................................................................... 3 Assessment Plan .................................................................................................................................................. 4 Assessment Task Cover Sheet – Assessment Task 1 ........................................................................................... 5 Assessment Task 1: Written Questions ................................................................................................................. 7 Assessment Task Cover Sheet – Assessment Task 2 ........................................... Error! Bookmark not defined. Assessment Task 2: Plan and Implement Budget ............................................................................................... 17 Part A – Budgeting Meeting ...................................................................................................................... 18 Part B – Develop Contingency Plans ........................................................................................................ 19 Part C – Distribute Budget and Contingency Plans .................................................................................. 20 Assessment Task Cover Sheet – Assessment Task 3 ......................................................................................... 21 Assessment Task 3: Monitor, Control and Review Financial Processes ............................................................. 23 Part A – Analyse and Report on Budget Expenditure ................................................................................ 24 Part B – Develop Improvements for Managing Aged Debtors ................................................................... 26 Part C – Implement and Monitor Aged Debtors Process Improvements ................................................... 27 Version: v2.0/ May 2019 Choice Academic College RTO 41177 | CRICOS 03652F Page 2 of 33 BSBFIM501 Manage budgets and financial plans
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Assessment Overview This Student Assessment Booklet includes all your tasks for assessment of BSBFIM501 Manage budgets and financial plans. About Your Assessments This unit requires that you complete three assessment tasks. You must complete all tasks to achieve competency for this unit. Assessment Task About This Task Assessment Task 1: Written Questions Students must correctly answer all questions in this task to demonstrate that they understand the knowledge required of the unit. Assessment Task 2: Project Plan and Implement Budget Students will negotiate a budget with another staff member, develop contingency plans and then distribute to staff. Assessment Task 3: Report Monitor, Control and Review Financial Processes Students will monitor and report on budget expenditure and undertake financial process improvements. How to Submit Your Assessments When you have completed each assessment task you will need to submit it to your assessor by the due date. Instructions about submission can be found at the beginning of each assessment task. Make sure you retain copy of your written activities before you submit those. Your submission to the assessor will keep into your student file. These will not be returned to you. Assessment Task Cover Sheet a. At the beginning of each task in this booklet, you will find an Assessment Task Cover Sheet. Please fill it for each task, making sure you sign the student declaration. b. After assessing your tasks, your assessor will provide you feedback. Assessment Appeals You can make an appeal about an assessment decision by putting it in writing and sending it to us. Refer to your Student Handbook for more information about our appeals process. Version: v2.0/ May 2019 Choice Academic College RTO 41177 | CRICOS 03652F Page 3 of 33 BSBFIM501 Manage budgets and financial plans
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Assessment Plan The following outlines the requirements of your final assessment for this unit. You are required to complete all tasks to demonstrate competency for BSBFIM501 Manage budgets and financial plans.
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