Report on Financial Activity

STUDENT
ASSESSMENT
Report on Financial Activity
BSBFIA412

Student Details
Student Name Student ID
Result Summary
Assessment
task outcomes
TASK 1 C NYC NA Type of
Submission
First submission
First re-submission
Second re
submission
TASK 2 C NYC NA
Final Unit
Outcome
Competent Competent Not Yet Submission Date
Assessor Name Assessor
Signature

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Assessment Record of Outcome
Purpose: This sheet provides an overview of a student’s competency for each unit based on all assessment tasks
submitted.
Instructions: Assessor: Record the outcome of each assessment task and determine the student’s competency for the
unit based on all assessment tasks. Record the unit outcome below, sign and date.
Admin Team: Record the unit outcome in RTO Manager and save the assessment bundle in the student’s file. A scanned
copy of this document is to be retained once the assessment is destroyed.
Student Name Student ID
Unit Code BSBFIA412
Unit Title Report on Financial Activity
Assessment
Submission
Date
Type of
submission
□ First Submission
□ First Re-submission
□ Second Re-submission
Assessment Task Results (Please tick)
Assessment 1 C (Competent) NYC (Not Yet Competent) NA (Not Assessed)
Assessment 2 C (Competent) NYC (Not Yet Competent) NA (Not Assessed)
Final Assessment Result for this unit Competent Not Yet Competent
Assessor
Declaration
In completing this assessment, I confirm that the participant has demonstrated all unit outcomes
through consistent and repeated application of skills with competent performance in multiple
instances over a period of time.
Evidence collected has been confirmed as: Valid Sufficient Current Authentic
Assessor Name Assessor
Signature
Feedback
Data Entry
Admin Officer
Initials
Date Entered
In RTO
Manager
YES No

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Student Declaration and Agreement

Section One: Declaration
I declare that this assessment is my own work, except where acknowledged, and has not
been submitted for academic credit elsewhere, and acknowledge that the assessor of this item may,
for the purpose of assessing this item:
reproduce this assessment item and provide a copy to another member of the Institute; and/or,
communicate a copy of this assessment item to a plagiarism checking service (which may
then retain a copy of the assessment item on its database for the purpose of future plagiarism
checking).
I understand it is my responsibility as a student to keep a copy of the assessment prior to
submission, Albright Institute takes no responsibility for lost in transit. If required I may be asked to
reproduce another copy of the assessment/s.
I understand that it is my responsibility to read all the policies relevant to my course and
college and if I am found to be in breach of policy, disciplinary action may be taken against
me.

Section Two: Agreement
Read through the assessments in this booklet before you fill out and sign the agreement
below. Make sure you sign this before you start any of your assessments.
Have you read and understood what is required of you in terms of
assessment?
Yes No
Do you understand the requirements of this assessment? Yes No
Do you agree to the way in which you are being assessed? Yes No
Do you have any special needs or considerations to be made for this
assessment? If yes, what are they?
___________________________________________________________________________
Yes No
Do you understand your rights to appeal the decisions made in an
assessment?
Yes No

 

Student
Name
Student
Signature
Date

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Assessment Overview
This Student Assessment Booklet includes all your tasks for assessment of BSBFIA412 Report on
Financial Activity.
About your assessments
This unit requires that you complete two (2) assessment tasks. You must complete all tasks with
a competent result to achieve competency for this unit. Please read the information below
about each task included in this assessment.

Task Description
Assessment Task One Knowledge Test

In this task, you will demonstrate a sound knowledge of the unit
requirements through completing and submitting written questions.
You must correctly answer all 8 questions to show that you understand the
knowledge required of this unit.
Assessment Task Two Performance Activity on Financial Performance
Part A: Compare and analyse information from a range of sources,
record numerical and textual information using financial language,
and present financial issues and requirements clearly. From assessing
your statements, analyse and forecast how the organisation’s
financial activities may transpire for the next year.
Part B: Report on financial recommendations as discussed with your
trainer/assessor

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Student Information
What is competency?
To complete assessment tasks satisfactorily you will need to demonstrate competence – but
what does this mean?
In the Australian vocational education and training system, the concept of competence, is
defined as: “The ability to perform tasks and duties to the standard expected in the workplace”.
Competence involves the application of specific skills, knowledge and attitudes to the work
performance in an industry, an industry sector or an enterprise. Competence is rarely achieved
in a one-off demonstration. It needs to be developed holistically – that is, bringing a range of
skills and knowledge together – and over time in a real or simulated workplace. To achieve
competence, you need to demonstrate that you can perform a given task to the standard
defined in an endorsed unit of competency.
How to submit your assessments?
When you have completed each assessment you will need to submit it to your assessor.
Instructions about submission can be found at the beginning of each assessment task. Make
sure you photocopy your written activities before you submit them – your assessor will put the
documents you submit into your student file. These will not be returned to you.
Assessment Task Cover Sheet
At the beginning of each task in this booklet, you will find an Assessment Task Cover Sheet.
Please fill it in for each task, making sure you sign the student declaration.
Your assessor will give you feedback about how well you went in each task, and will write this
on the back of the Task Cover Sheet.
Assessment outcomes
Once the assessment has been completed the student will be given the result within 14 days.
Once the student has satisfactorily completed the required assessments for a unit of
competency he/she will receive an outcome of C (Competent) or otherwise NYC (Not Yet
Competent) in which case the student is entitled to apply for a resubmission of the assessment.
Reasonable adjustments
Wherever possible, trainers/assessors will make reasonable adjustments to training and
assessment processes to ensure all people are treated equally in the training and assessment
process.
Students who have special needs may be allowed reasonable adjustment at the time of
assessment in line with the Albright Institute’s Policy and Procedures.
To meet the needs of all learners’ adjustments can be made to the way assessments are
conducted but not to the requirements of the assessment. The purpose of these adjustments is
to enhance fairness and flexibility so that the specific needs of students can be met.
Examples of reasonable adjustments
providing additional time for student to practice the assessment tasks
presenting questions orally for students with literacy issues
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asking questions in a relevant practical context
adapting machinery and equipment to make it more easily used
presenting work instructions in diagrammatic or pictorial form instead of words and
sentences
simplifying the design of tasks
It is the responsibility of each assessor to assess students’ needs and make whatever reasonable
adjustments are practicable to maximise a students’ opportunity to demonstrate their
competence.
Assessment re-submission
If a student is deemed NYC (not yet competent) the Trainer/Assessor (TRN) will explain why and
inform the student of what needs to be completed in order to demonstrate competence.
Re-assessment for assessments only occurs if the student has previously submitted the
assessment or has missed the relevant session(s) and has been afforded special consideration
which is approved by the Administration department.
If the result for the first submission of an assessment is NYC, students will be given two resubmission opportunities to achieve a competent result (this re-assessment is conducted free
of charge). A suitable time will be arranged for the reassessment to occur within 14 days of the
completion of the unit in question. Should a student either not make an attempt within this time
frame (in spite of all efforts by Albright Institute, its Trainer/Assessor and administration staff to
have the student attend a reassessment session) or the student does not achieve a satisfactory
result after two re-assessments they may be charged for another attempt.
Should the student still not achieve competence after these assessment attempts, it will be
necessary for them to re-enrol in (repeat) the unit of competence at a cost.
Assessment appeals
You can make an appeal about an assessment decision by filling an appeal form. Ask for an
appeal for from a student support officer. Refer to Albright Institute’s Assessment Policy for more
information about our appeals process.
Plagiarism Policy
All student work must be written in their own words, except where acknowledged through
quotations and referencing. Plagiarism is a serious offence; Albright Institute may impose severe
penalties on students who plagiarise.
For more information on Plagiarism and Cheating refer to Albright Institute’s policies.

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TASK 1 – Coversheet
Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a
copy of your work.

Student and Submission Details
Student
Name
Student ID
Unit Code
and Name
BSBFIA412 – Report on Financial Activity Date of submission
STUDENT DECLARATION
I declare that
these tasks are my own work.
None of this work has been completed by any other person.
I have not cheated or plagiarised the work or colluded with any other student/s.
I have correctly referenced all resources and reference texts throughout these
assessment tasks.
I understand that if I am found to be in breach of policy, disciplinary action may be taken
against me.
Student
Signature

 

Assessor To Complete
Assessment Task Task Result Date Type Of Submission
Knowledge Test □ C (Competent)
□ NYC (Not Yet
Competent)
□NA (Not Assessed)
First submission
First re-submission
Second re
submission
Assessor feedback
Assessor Name
Assessor Signature

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Performance Criteria
The task meets the following requirements: Satisfactory Unsatisfactory Not Present
P1 key provisions of legislation, regulation and codes of practice
relevant to financial operations
P2 key techniques used for forecasting and analysis
P3 key features of the options, methods and practices for deductions,
benefits and depreciations
P4 current business taxation requirements for preparing corporate
accounting reports
P5 current financial legislation and statutory requirements relating to
taxable transactions and reporting requirements
P6 ethical requirements associated with preparing financial reports for
corporate entities, including conflict of interest, confidentiality, and
disclosure requirements
P7 industry-standard methods and formats used to present financial
data.

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TASK 1 – Knowledge Test
Task summary
You are required to answer all the written questions in this task.
Resources and equipment required to complete this task
o Access to textbooks and other learning materials.
o Access to a computer, printer, Internet and email software (if required).

When and where should the task be completed?
o This task may be done in your own time as homework or you may be given
time to dothis task in class (where applicable).
o Your assessor will provide you with the due date for this assessment.

What needs to be submitted?
o Your answers to each question in this task.

Instructions
o This is an open book test – you can use your learning materials as reference.
o You must answer all questions in this task correctly.
o You must answer the questions by typing your answers in Microsoft Word
and converting it into
a pdf.
o Please include the following details in the header section of
each page of yourassessment document:

Student Name and ID
Course Code and title
Unit Code and title
Trainer and assessor name
Page numbers

o You are required to submit your assessment on the LMS
(Moodle). No submissions will be accepted via emails.

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Knowledge Test
Objective: To provide you with an opportunity to show you have the required
knowledge for this unit.
The answers to the following questions will enable you to demonstrate your knowledge
of:
Key provisions of legislation, regulation and codes of practice relevant to
financial operations
Key techniques used for forecasting and analysis
Key features of the options, methods and practices for deductions, benefits and
depreciations
Current business taxation requirements for preparing corporate accounting
reports
Current financial legislation and statutory requirements relating to taxable
transactions and reporting requirements
Ethical requirements associated with preparing financial reports for corporate
entities, including conflict of interest, confidentiality, and disclosure
requirements
Industry-standard methods and formats used to present financial data.
Answer each question in at least 80-100 words, considering your organisational
requirements for each one.
All answers will vary depending on the learner and the organisation they work for, but
the learner should be able to answer each question competently.
1. What are the key provisions of legislation, regulation and codes of practice
relevant to financial operations?
2. What techniques can be used for forecasting and analysis?
3. What are the options, methods and practices for deductions, benefits and
depreciations?
4. What are the current business taxation requirements for corporate accounts?
5. How should taxable transactions and reporting be carried out?
6. Explain how conflict of interest, confidentiality and disclosure may impact on your
financial reporting.

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7. How can you present financial data clearly and according to industry standards?
What to submit:
Answers to all questions
References
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TASK 2 – Coversheet
Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a
copy of your work.

Student and Submission Details
Student
Name
Student ID
Unit Code
and Name
BSBFIA412 – Report on Financial Activity Date of submission
STUDENT DECLARATION
I declare that
these tasks are my own work.
None of this work has been completed by any other person.
I have not cheated or plagiarised the work or colluded with any other student/s.
I have correctly referenced all resources and reference texts throughout these
assessment tasks.
I understand that if I am found to be in breach of policy, disciplinary action may be taken
against me.
Student
Signature

 

Assessor to complete
Assessment Task Task Result Date Type Of Submission
Performance Activity □ C (Competent)
□ NYC (Not Yet
Competent)
□NA (Not Assessed)
First submission
First re-submission
Second re
submission
Assessor feedback
Assessor Name
Assessor Signature

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TASK 2 – Performance Activity

P1 1. Compile and analyse financial data
P2 2. Prepare Reports
2.1 Correctly record income and expenditure to ensure compliance
with statutory requirements
2.2 Correctly identify relevant receipts, revenue documentation and
payments
2.3 Prepare reports according to statutory and ethical requirements, and
organisational procedures relating to conflict of interest, confidentiality,
and disclosure statements
2.4 Present charts, diagrams, tables and supporting data in required
format
2.5 Review statements and data for errors and compliance with statutory
requirements and organisational procedures, and amend as required
2.6 Submit statutory requirement reports to appropriate authorities
within stated deadlines
P3 3. Provide financial business recommendations
3.1 Review recommendations and ensure they are logically derived and
supported by evidence
3.2 Provide recommendations to enhance the effectiveness of functions
and services

 

1.1 Collect, evaluate and code current financial data to ensure
consistency, quality and accuracy in accordance
with organisational requirements
1.2 Use conversion and consolidation procedures to compile data in
accordance with organisational requirements
1.3 Make, record and disclose asset and liability valuations in
compliance with accounting standards
1.4 Ensure that discrepancies, unusual features or queries are identified,
resolved or referred to the appropriate authority
1.5 Identify and record effects of taxation

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3.3 Ensure recommendations are concise and relevant to the direction
and control of organisational operations
3.4 Identify and prioritise significant issues in statements including
comparative financial performances for review and decision making
3.5 Ensure structure and format of reports are clear and conform to
organisational and statutory requirements

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PART A: Skills Activity
Objective: To provide you with an opportunity to show you have the required skills for this unit.
Answer the activity in 400-500 words, considering your organisational requirements.
1. As a workplace project (or a simulated workplace activity) compile interim financial statements for
the last year to show the financial position of the organisation including profit and loss, comprehensive
income, cash flows and changes in equity. You should use appropriate software to aid in calculations
and your presentation. Documents should be produced and attached to your workbook to show
evidence of your work. Please refer to the following link for simulated case study Australian Hardware
and the supporting information provided for this task
http://australianhardware.simulations.australiantrainingproducts.com.au/australianhardware.simulations.
learn.com.au/end-of-financial-year-statements.html
You should include the following in your work:
The requirements of legislation, relevant codes of practice and accounting standards
Any deductions, benefits and depreciations that have been made
Conversion and consolidation procedures
Discrepancies that may have been found
Liabilities for tax
Double-entry bookkeeping and accrual accounting practices
Clear presentation and format of information.
Demonstrate that you can compare and analyse information from a range of sources, record
numerical and textual information using financial language, and present financial issues and
requirements clearly. Also, demonstrate using a wide range of mathematical calculations to interpret
and arrange/compare numerical information.
2. From assessing your statements, analyse and forecast how the organisation’s financial activities may
transpire for the next year, you should include:
Techniques to conduct analysis and to make forecasts
Financial business recommendations that may help the organisation in the next quarter.
Submit your analysis, forecasting and recommendations in the form of a report.
PART B : Performance Activity
Objective: To provide you with an opportunity to demonstrate the required performance elements for this
unit.
You are required to participate in a role play with your trainer for this activity.
In your own work environment or a simulated workplace environment (Please refer to the following
link for simulated case study Australian Hardware),
http://australianhardware.simulations.australiantrainingproducts.com.au/australianhardware.simulations.lear
n.com.au/end-of-financial-year-statements.html

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Instructions for this activity:
Organise and present financial data to highlight relevant features and meet workplace
requirements including:
o budget variances
o budgets and forecasts
o cash flow/profit reports
o balance sheets
o financial year reports
o operating statements
o expenditure and receipts
o profit and loss statements
Use conversion and consolidation procedures such as moving averages, standardised variables,
trend analysis and unit costs
Identify, resolve or refer discrepancies such as:
o absence of auditable trail
o expenditure report mismatches
o incorrect payments and unreconciled cash flows
Record income and expenditure to meet statutory requirements
Calculate liabilities for tax including completing Business Activity Statements, where applicable
Provide financial business recommendations
Apply knowledge of relevant legislation and regulations
Perform double entry bookkeeping and accrual accounting.
Answer the above points considering your organisational requirements and submit a report in atleast 500
words.
Trainer will assess whether the student is able to demonstrate the following:
Compile financial information and data for preparing an annual financial report to highlight
relevant features and meet workplace requirements
Use conversion and consolidation procedures such as moving averages, standardised variables,
trend analysis and unit costs
Identify, resolve or refer discrepancies in data such as incorrect payments and unreconciled cash
flows
Prepare the report to statutory and organisational requirements, including adherence to
workplace financial policies and procedures
Calculate liabilities for tax including completing Business Activity Statements (as applicable)
From your report, provide financial recommendations to assist the organisation in the next year’s
financial performance and discuss these with your trainer/assessor.
Throughout this activity, you will need to demonstrate that you can perform double-entry
bookkeeping and accrual accounting in the tasks listed above. You will also need to demonstrate
and apply knowledge of relevant legislation and regulations.

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PART C: Financial Activity Reporting
Using the financial information provided for this task, complete the GST Worksheet for BAS for Australian
Hardware
Copy may be downloaded from the Australian Taxation Office at
https://www.ato.gov.au/uploadedFiles/Content/CAS/downloads/BUS25199Nat4189s.pdf
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What to submit:
Report on Financial analysis, forecasting and recommendations (Part A)
Report on Financial data (Part B)
Completed GST Worksheet and Business Activity Statement (Part C)
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Student Feedback
Please provide any feedback you may have for this unit.
Resources

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…………….………….………………………..Tear Here……………………….……………………………….

Trainer and Assessor
Other Feedback

 

Student Receipt
Students should retain the section below as their receipt for submitting this work.
Students are required to keep a copy of all submitted work.
Student’s Name Student’s ID:
Type of submission First Submission □ First Re-submission □ Second Re
submission
Date of Submission Unit Code & Name BSBFIA412 – Report on
Financial Activity
Assessment tasks
submitted (Please
tick)
Task 1
Task 2
Staff Name Staff Signature