SITXFIN003 COURSE (1)

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Austin Community College District *

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30008

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Accounting

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Nov 24, 2024

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Assessment Task 2: Project Information for students You are required to manage finances within a budget for a case study organisation and then report on your findings. You will need access to:  your learning resources and other information for reference  accounting software (Wave free online software)  your Café Quarterly Budget  your Budget Report Template . Ensure that you:  review the advice to students regarding responding to written tasks in the Hospitality Works Student User Guide  comply with the due date for assessment which your assessor will provide  adhere with your RTO’s submission guidelines  answer all questions completely and correctly  submit work which is original and, where necessary, properly referenced  submit a completed cover sheet with your work  avoid sharing your answers with other students. i Assessment information Information about how you should complete this assessment can be found in Appendix A of the Hospitality Works Student User Guide . Refer to the appendix for information on:  where this task should be completed  how your assessment should be submitted. Note : You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix B of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 3 of 28 File Name: Assessment Tool July 2020 1.1

Activities Complete the following activities. 1. Carefully read the following scenario You are the café manager of a popular café within the Blue Healer Hotel and Spa. The owner has provided you with the budget for the next quarter and it is part of your responsibility to allocate resources and manage the finances within the budget. The budget has been increased in month three as this is a popular month where lots of visitors stay at the Blue Healer and neighbouring guest houses as there is a music festival on. As such, additional wait staff will be hired on a casual basis and less private catering jobs will be booked in as the café will be at its peak. Additional information:  The business uses local suppliers but due to a recent drought the cost of meat with the usual supplier, Fresh Farms, went up by 7% last month.  The café serves breakfast, light meals, light dinners and sharing plates, smoothies, coffee, pastries and is a local favourite for its homemade iced tea.  Due to the clientele of the hotel and health spa, and the area within which the Blue Healer is located, there have been a number of requests for more vegetarian and vegan options.  Apart from you and the owner (you also cook and prepare food) there is full-time chef named Navneet, two part-time kitchen porters and casual wait staff employed.  There has been a pattern of food wastage in the past two months with too much fruit purchased that spoiled before it could be used as the iced tea became so popular that not as many smoothies were made and sold.  The food budget has blown out over the past three months but the owner can’t increase it as the profit from the café is being invested into building and landscaping works to create an outside undercover area that will double the capacity of the café.  The business uses Wave Accounting free online software for recording income and expenditure but makes use of Excel spreadsheets for budgeting and planning purposes. ANSWER: © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 4 of 28 File Name: Assessment Tool July 2020 1.1

Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 Beverage sales 23,000 24,500 21,000 $19,000 Catering fees 10,000 10,200 7,200 $2,200 Total income 69,500 70,500 62,200 $34,800 Cost of sales Food purchases 15,000 15,000 17,250 $6,750 Beverage purchases 5,000 5,000 6,000 $6,000 Total cost of sales 20,000 20,000 23,250 $12,750 Gross profit 49,500 50,500 38,950 22,050 Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 This document is Quarterly budget for the unit SITXFIN003 Last month's cost of sales Last month's food and beverage budget: $20,000 Supplier Category Cost Fresh Farms (meat) Food $8,500 Donna's wholesale pastries (cakes and pastries) Food $2,000 Wild Beans (coffee beans and flavoured syrups) Beverage s $4,000 Fizzy Lizzy (soft drinks) Beverage s $1,200 Fromo Fruits (fruit for smoothies) Beverage s $1,000 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 5 of 28 File Name: Assessment Tool July 2020 1.1

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Byron's Baking Supplies Food $500 Coles (milk and sundries) Food $1,500 Ferguson Family Farms (vegetable crates) Food $2,000 Total $20,700 Food sales $14,500 Beverage sales $6,200 Fund allocation Food Type Month 1 Month 2 Month 3 fresh markets ( meat) $8,500 $85oo $8,500 Donna's wholesale pastries (cakes and pastries) $2,000 $2,000 $2,000 Byron's Baking Supplies $500 $500 $500 Coles (milk and sundries) $1,500 $1,500 $1,500 Ferguson Family Farms (vegetable crates) $2,000 $2,000 $2,000 Total $14,500 $14,500 $14,500 Beverages Type Month 1 Month 2 Month 3 Wild Beans (coffee beans and flavoured syrups) $4,000 $4,000 $4,000 Fizzy Lizzy (soft drinks) $1,200 $1,200 $1,200 Fromo Fruits (fruit for smoothies) $1,000 $1,000 $1,000 Total $6,200 $6,200 $6,200 Combined total $20,700 $20,700 $20,700 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 6 of 28 File Name: Assessment Tool July 2020 1.1

2. Review past information and future budget and plan fund allocation Review the following:  Case study and additional information above Answer: From the above case study and additional information we can find out the all information regarding past and future actual budget as well as fund allocation.  Café Quarterly Budget – budget page ANSWER: Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 34.62% less Beverage sales 23,000 24,500 21,000 $19,000 47.50% less Catering fees 10,000 10,200 7,200 $2,200 44.00% less Total income 69,500 70,500 62,200 $34,800 35.88% less Cost of sales Food purchases 15,000 15,000 17,250 $6,750 Beverage purchases 5,000 5,000 6,000 $6,000 Total cost of sales 20,000 20,000 23,250 $12,750 Gross profit 49,500 50,500 38,950 22,050 Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 7 of 28 File Name: Assessment Tool July 2020 1.1

 Café Quarterly Budget – past information page This document is Quarterly budget for the unit SITXFIN003 Last month's cost of sales Last month's food and beverage budget: $20,000 Supplier Category Cost Fresh Farms (meat) Food $8,500 Donnas’ wholesale pastries (cakes and pastries) Food $2,000 Wild Beans (coffee beans and flavoured syrups) Beverages $4,000 Fizzy Lizzy (soft drinks) Beverages $1,200 Fromo Fruits (fruit for smoothies) Beverages $1,000 Byron's Baking Supplies Food $500 Coles (milk and sundries) Food $1,500 Ferguson Family Farms (vegetable crates) Food $2,000 Total $20,700 Food sales $14,500 Beverage sales $6,200 Look at the cost of sales figures related to food and beverage purchases which is the food and beverage budget that is allocated to you. Do some research and source some local meat suppliers in your area and check out the costs of menu items you have planned for previously in the past, or meals you are familiar with and see what that 7% could look like and the impact over a three month period. Bring this information with you to the meeting in the next activity step to provide recommendations to the owner. Think about how you can work effectively with the budget allocated to you and the changes you could make to manage the finances more effectively. Make notes on your research and findings for use in the following activity. ANSWER: We need the change in suppliers for meat product as fresh farms is likely to increase prices of their circumstances. There are several meat suppliers around us beside fresh farms like Green farm, Everest Butchery who are supplying in 40% less cheaper rates. That means we would have to pay $340 less than Fresh farms. Also, comparably, there are not much of the differences in quality as well. These suppliers have some good reviews from customers too. These corporations are in the suitable places where there are very less chances of getting sort of resources like water and other important requirement to run the factory which helps in the continuous flow of © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 8 of 28 File Name: Assessment Tool July 2020 1.1

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supplies 1. Have a meeting with the owner to discuss the budget and fund allocation Now that you have reviewed all the information, have a meeting with the manager (your assessor) at the date and time advised to discuss any concerns, priorities and changes you would like to make before you allocate the funds. Review the new suppliers you have sourced with your assessor. ANSWER: The purpose of this meeting with the owner to discuss the budget and fund allocation is to manage operating resources. It is also necessary to be involved in because you will suggest future adjustment in budget based on current situation. As well as, you will be carried out all actions steps to avoid such issues in future and involved due to cash flow issues. During the meeting, you will need 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. ANSWER: From the above question, I have mentioned all answer below: Good communication skills can get better the method that we activate from beginning to end of business, smoothing we way in our relationships with others business. Poor communication skills, on the other hand, can unpleasant relationships from business to personal, and make our business considerably harder. Some people appear to recognize how to communicate without even trying. They can modify their verbal communication, quality and communication to their business, and acquire their point across rapidly and briefly, in a way that is heard. They are also able to pick up the messages sent to them rapidly, understanding both what is said, and what has not been said. This may look like natural, but the probability is that they have used up prosperity of time honing their skills. 2. Allocate funds 3. Using the Café Quarterly Budget template – Fund allocation page, allocate the funds for the quarter to the relevant areas and what you will purchase from existing or new suppliers. Make notes in the relevant column to support your choice and rationale. Add or delete rows as necessary and apply cell formatting and the use of formula functions as necessary. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 9 of 28 File Name: Assessment Tool July 2020 1.1

Submit to your assessor. Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 34.62% less Beverage sales 23,000 24,500 21,000 $19,000 47.50% less Catering fees 10,000 10,200 7,200 $2,200 44.00% less Total income 69,500 70,500 62,200 $34,800 35.88% less Cost of sales Food purchases 15,000 15,000 17,250 $6,750 28.13% Beverage purchases 5,000 5,000 6,000 $6,000 50.00% Total cost of sales 20,000 20,000 23,250 $12,750 35.42% Gross profit 49,500 50,500 38,950 22,050 36.15% Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 Fund allocation Food © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 10 of 28 File Name: Assessment Tool July 2020 1.1

Type Month 1 Month 2 Month 3 fresh markets (meat) $8,500 $85oo $8,500 Donna's wholesale pastries (cakes and pastries) $2,000 $2,000 $2,000 Byron's Baking Supplies $500 $500 $500 Coles (milk and sundries) $1,500 $1,500 $1,500 Ferguson Family Farms (vegetable crates) $2,000 $2,000 $2,000 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 11 of 28 File Name: Assessment Tool July 2020 1.1

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Total $14,500 $14,500 $14,500 Beverages Type Month 1 Month 2 Month 3 Wild Beans (coffee beans and flavoured syrups) $4,000 $4,000 $4,000 Fizzy Lizzy (soft drinks) $1,200 $1,200 $1,200 Fromo Fruits (fruit for smoothies) $1,000 $1,000 $1,000 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 12 of 28 File Name: Assessment Tool July 2020 1.1

Total $6,200 $6,200 $6,200 Combined total $20,700 $20,700 $20,700 The owners should emphasis on are sales and revenue as the adjustments came out less in sales and revenue and the budgeted amount are is more than the actual budget amount of the both months. They should examine into whether it was budgeted are too high or something happened to make the revenue less than it was expected. Moreover, all the variances cost seemed to be lower than the budgeted, so these make it to the result of extremely low point gain on the whole. 3. Meet with your team © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 13 of 28 File Name: Assessment Tool July 2020 1.1

Briefly meet with Navneet (your assessor) to discuss the resource allocations and the planning for the next quarter in relation to fresh produce, reduction of wastage and recipe variation. Make sure that you discuss the importance of sticking to the budgeted allocations and discuss ways that food wastage can be avoided to ensure the budget is met. During the meeting, you will need 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. Answer: The role play for the meeting between the café manager and the assessor are as below: Café manager: good morning! How are you? Accessor: I am good. And what about you? Café manger: I am good thank you. What brings today in our café? Accessor: well, I just want to know how you are dealing with the wastage of food items in your café? Café manager: at present our café is unable to manage the food wastage due to which the cafes budgets has increased. So, I think it would be better if our café budgeted plan is to be followed properly than there won’t be any food items wastage. Accessor: well, it seems quite complex because the wastage of food item has not been controlled. It’s the matter to talk over. Did you reviewed the cafes quarterly budget in order to plan and look for the solution to reduce the problem? Café manager: well I had a glance over the cafes quartley budget, where it is found that the cost of the purchased goods seems to be higher than the 3-month comparison to the 1 and 2 months of café being opened foe customers. Accessor: in this case the café must be handling the items which are more expensive and its due to the wastage of food items yes! Well, it been long meeting I will provide you attachment about monitor budget. please kindly find. Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 34.62% less Beverage sales 23,000 24,500 21,000 $19,000 47.50% less © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 14 of 28 File Name: Assessment Tool July 2020 1.1

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Catering fees 10,000 10,200 7,200 $2,200 44.00% less Total income 69,500 70,500 62,200 $34,800 35.88% less Cost of sales Food purchases 15,000 15,000 17,250 $6,750 Beverage purchases 5,000 5,000 6,000 $6,000 Total cost of sales 20,000 20,000 23,250 $12,750 Gross profit 49,500 50,500 38,950 22,050 Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 Café manger: thank you for coming and providing me all information about the café the resource allocations and the planning for the next quarter in relation to fresh produce, reduction of wastage and recipe variation. 6.Monitor activities – month 1 It is the end of month 1. You have kept to the budget and the funds have been allocated as you planned for. Using the relevant accounting software and the exact figures from your fund allocation document, enter the expenses you have incurred over the first month exactly as they are represented in your fund allocation page of your spreadsheet. Print a report of the entries or take a screenshot and submit to your assessor. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 15 of 28 File Name: Assessment Tool July 2020 1.1

4. Monitor activities – month 2 It is the end of month 2. You have kept to the overall budget, but funds have had to be rearranged in the following ways:  There was an accident when unloading the vegetable crate one week and all the produce was spoiled. You had to purchase a second crate which pushed your amount spent with the vegetable supplier up by 10%.  To accommodate for the overspend, you reduced the amount spent on cakes and pastries by that same amount and baked inhouse. Enter the expenditure figures into the accounting software as outlined in your fund allocation document but consider the information above and work out the variances. Print a report of the entries or take a screenshot and submit to your assessor. It is the end of month 2. You have kept to the overall budget, but funds have had to be rearranged in the following ways:  There was an accident when unloading the vegetable crate one week and all the produce was spoiled. You had to purchase a second crate which pushed your amount spent with the vegetable supplier up by 10%.  To accommodate for the overspend, you reduced the amount spent on cakes and pastries by that same amount and baked in house. Enter the expenditure figures into the accounting software as outlined in your fund allocation document but consider the information above and work out the variances. Print a report of the entries or take a screenshot and submit to your assessor. Answer: By the accident of the vegetable crate, we were suffering from increasing expenditure of one week. So, to solve that problem be we started to bake the cake in the house. For example, our 10% allocation of vegetable was $300, and we reduce our amount of cake without purchasing the cake from the factory. Which helped our business to overcome our problems and easily balanced our budget as usual. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 17 of 28 File Name: Assessment Tool July 2020 1.1

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5. Monitor activities – month 3 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 18 of 28 File Name: Assessment Tool July 2020 1.1

It is the end of month 3. The following has happened: Due to recent environmental conditions, less people came to the local area than planned for and many people cancelled their accommodation at Blue Healer. Some of the food for the first week had already been ordered and as such – there was a lot that went to waste. The figures have been calculated for the month based on 4 weeks. $6000 was spent on food in preparation for the increased numbers but during the first week there was a total waste of 35%. Many items were able to be frozen, and as such the budget can be amended for the next quarter to try and recoup some of the losses. The following three weeks the same amount was spent as budgeted for the two prior months, being $3,750 per week and a total of $6000 for the month was spent on beverages. Enter the expenditure figures into the accounting software as outlined in your fund allocation document but consider the information above and work out the variances. Print a report of the entries or take a screenshot and submit to your assessor. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 19 of 28 File Name: Assessment Tool July 2020 1.1

6. Develop an actual budget from the past three months Develop an actual budget using the past information and your financial records you complied and submitted in the previous activity steps. Make a new page in the Café Quarterly Budget spreadsheet and name it ‘Actual Budget’. Assume the following information: © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 20 of 28 File Name: Assessment Tool July 2020 1.1

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 Variances of 10% are not considered unusual.  The actual income is as follows:  The operating expenses are all correct. Submit to your assessor. Answer: the following tables indicates the actual budget Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 Beverage sales 23,000 24,500 21,000 $19,000 Catering fees 10,000 10,200 7,200 $2,200 Total income 69,500 70,500 62,200 $34,800 Cost of sales Food purchases 15,000 15,000 17,250 $6,750 Beverage purchases 5,000 5,000 6,000 $6,000 Total cost of sales 20,000 20,000 23,250 $12,750 Gross profit 49,500 50,500 38,950 22,050 Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 By using actual budget we can find out the variances of the month for the income we can see by using above actual budget in food sales, beverage sales, catering sales are $18000, $19000, $2000 which means less than 34.62%, 47.50%, 44% respectively and total month variances income is $34800 which is less than 35.88%. As well as for food purchase, beverage purchase is $6750, $6000 which 28.13% and 50%, which means total cost of sales are $12750 and 35.42%. the gross profit of month variances is $22050and 36.15%. moreover, there is no change in operating expenses. 9.Conduct research and write a budget report © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 21 of 28 File Name: Assessment Tool July 2020 1.1

Compile a report to the owner about what has occurred over the past three months. You will also need to conduct some research when writing this report as outlined below. Submit in the timeframe as provided to you by your assessor. Include the following in your report:  The status of the budget and the variations in relation to what was projected – use percentages and figures to discuss a detailed account of what has occurred in the overall actual budget in relation to projections.  Lessons learned from what has occurred in the past quarter and ideas for how you can prevent similar situations in the future by improvements that can be made.  Undertake research to investigate new or different approaches to budget management and then outline the benefits and advantages of different approaches you could take and how these approaches may impact on customer service levels or staff.  Provide recommendations for budget management for the next quarter and provide estimates for this period. Make sure you use correct budget terminology and your report is neatly presented, clear and concise with the use of statistical representations. Use the Budget report template to guide your work. Submit to your assessor. © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 22 of 28 File Name: Assessment Tool July 2020 1.1

Budget report Introduction The purpose of the report is to discuss the budget and fund allocation is to manage operating resources. It is also necessary to be involved in because for future adjustment in budget based on current situation. As well as, to carried out all actions steps to avoid such issues in future and involved due to cash flow issues. More, to plan different phases of the business operations, conditionate activities and to ensure effective control over it. Body Outline:  The status of the budget and the variations in relation to what was projected – use percentages and figures to discuss a detailed account of what has occurred in the overall actual budget in relation to projections.  Lessons learned from what has occurred in the past quarter and ideas for how you can prevent similar situations in the future by improvements that can be made.  Undertake research to investigate new or different approaches to budget management and then outline the benefits and advantages of different approaches you could take and how these approaches may impact on customer service levels or staff. Account Month 1 Month 2 Month 3 month of variances Income Food sales 36,500 35,800 34,000 $18,000 34.62% less Beverage sales 23,000 24,500 21,000 $19,000 47.50% less Catering fees 10,000 10,200 7,200 $2,200 44.00% less Total income 69,500 70,500 62,200 $34,800 35.88% less Cost of sales Food purchases 15,000 15,000 17,250 $6,750 28.13% Beverage purchases 5,000 5,000 6,000 $6,000 50.00% Total cost of sales 20,000 20,000 23,250 $12,750 35.42% Gross profit 49,500 50,500 38,950 22,050 36.15% Operating Expenses Wages 17,000 17,000 21,000 no change Insurance 600 600 600 Utilities 2,000 2,000 2,000 Rent 5,000 5,000 5,000 Marketing 2,000 2,000 2,000 Phone 100 100 100 Live music 500 500 500 © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 23 of 28 File Name: Assessment Tool July 2020 1.1

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Repairs and maintenance 500 500 500 Total operating expenses 27,700 27,700 31,700 Net profit/loss 21,800 22,800 7,250 Recommendations  Provide recommendations for budget management for the next quarter and provide estimates for this period. Assessment Task 2: Checklist Student’s name: Did the student: Completed successfully? Comments Yes No Review the relevant information and the consult with the owner to assess and discuss budget priorities, concerns and changes prior to allocating funds? During the meeting to discuss the budget and fund allocation 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 Allocate funds according to the budget and agreed priorities? © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 24 of 28 File Name: Assessment Tool July 2020 1.1

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Consult with Navneet about the resource allocations and the planning for the next quarter in relation to fresh produce, reduction of wastage and recipe variation and stress the importance of budget control? During the meeting with personnel 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 Monitor financial activities over a three- month period and use accounting software to keep track of financial expenses? Develop an actual budget from the past three month’s activity to provide an accurate and complete picture for the quarter? Identify and report deviations of the projected versus actual budget and discuss impacts? Investigate and report on appropriate options for future budget management to avoid a report of month three’s situation? Outline the benefits and disadvantages of researched approaches? Present the information to the owner using correct budget terminology and in a neatly presented report using clear and concise language with the use of © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 25 of 28 File Name: Assessment Tool July 2020 1.1

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statistical representations and in the timeframe provided to them. Task outcome:  Satisfactory  Not satisfactory Assessor signature: Assessor name: Date: © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 26 of 28 File Name: Assessment Tool July 2020 1.1

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Final results record Student name: Assessor name: Date: Unit name: Qualification name: Final assessment results Task Type Result Satisfactor y Unsatisfactory Did not submit Assessment Task 1 Knowledge questions S U DNS Assessment Task 2 Project S U DNS Overall unit results C NYC Feedback  My performance in this unit has been discussed and explained to me.  I would like to appeal this assessment decision. Student signature: _________________________________________ Date: _________________  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 signature: _______________________________________ Date: _________________ © International Institute of Education RTO: 45150 CRICOS: 03838G Revised date Version Page 27 of 28 File Name: Assessment Tool July 2020 1.1

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