Assessment Event 3: Analyzing Financial Performance in FNSACC521

Assessment Event 3 of 3: Skills Unit code and name FNSACC521 – Provide financial and business performance information Qualification code and name FNS50222 – Diploma of Accounting Student name Student number Version: 20221207 Date created: 07 December 2022 © 2022 TAFE NSW RTO Provider Number 90003 | CRICOS Provider Code: 00591E This assessment can be found in the: Learning Bank The content in this document is copyright © TAFE NSW 2022 and should not be reproduced without the permission of TAFE NSW. Information contained in this document is correct at the time of printing: 1 April 2024. For current information please refer to our website or your Teacher/Assessor as appropriate. Document title: FNSACC521_AE_SK3of3 Page 1 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

Assessment information Table 1 – Assessment information Information Details Assessment event overview The aim of this assessment event is to assess your performance as required to analyse and report on a broad range of financial and business performance information. It involves assessing client needs, analysing data, and preparing advice. The unit applies to individuals who use specialised knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients. This assessment is in one part: 1. Part 1: Role Play. And is supported by:  Case study (2 of 3)  Case study Part 1, Task 2.6: Financial advice report for Manager 2 (Riley Jones)  Observation Checklist  FNSACC521_AE_Sk3of3_Appx_RolePlay (Instructions for the role play actor). Unit assessment guide (UAG) Refer to the Unit assessment guide (UAG) before attempting this assessment event. The UAG contains information including assessment requirements and how to achieve a satisfactory result. Submission instructions When you complete this assessment, submit it for marking as directed by the assessor. Refer to the Submission Checklist at the end of the assessment to ensure you have submitted all requirements. It’s important to keep a copy of all the electronic and hardcopy assessments you submit to TAFE NSW and complete the assessment declaration when submitting the assessment. Document title: FNSACC521_AE_SK3of3 Page 2 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

Task instructions The assessor will use the criteria outlined in the following tasks to determine if you have satisfactorily completed this assessment event. Follow these instructions to ensure you demonstrate the required knowledge and skills. Part 1: Role play To complete this part of the assessment, you will participate in a role play with the aid of a colleague or peer to demonstrate your ability to complete skills-based tasks to industry standards. If you are completing your course online, you will need to digitally record and submit the role play as video evidence. Follow the Video recording instruction (pdf) . Long URL: https://share.tafensw.edu.au/share/file/744af7d4-a241-45e2-adb0-0e13f2fe4950/1/ VideoAssessmentInstructions_2022.pdf These instructions include useful tips, links to resources, and a demonstration video. Read all instructions carefully and complete all the assessment requirements. In addition, refer to the Observation checklist , which the assessor will use to assess your performance and record your results. Role play 1: The scenario You are continuing your role as an accountant for FAB Plastics – Design and Fabrication. Manager 2 (Riley Jones) is in the process of preparing a business case to support the acquisition of the new equipment and expansion of the customer base and needs the calculations and advice you were asked to complete in FNSACC521_AE_CS2of3 Part 2, Task 2 and Part 3, Task 2. Manager 2 is interested the understand the tax implications and any legislative or statutory requirements that are relevant to the proposal. Role of the student being assessed Your main task in this role play is to meet with and communicate the recommendations/advice you outlined in you’re the recommendations/advice report to Riley Jones. In the Case Study, Part 3, Task 2, you completed a Financial Advice Report for Manager 2, Riley Jones. Now that your financial advice report is completed, present and explain your findings when comparing Cash Vs Credit and Payback, and the recommendations you provided in the Financial Advice Report for Manager 2 (Riley Jones) to the role play actor. During the role play, the person playing the role of Riley Jones will ask you questions about the financial information you provide. The role play actor is playing the role of Manager-in-Charge of Manufacturing and Fabrication at FAB Plastics (Riley Jones). Document title: FNSACC521_AE_SK3of3 Page 3 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

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You (student), as the accountant at FAB Plastics, have been engaged to provide advice to internal stakeholders on some new equipment Riley Jones intends on procuring. Specifically, the Design and Fabrication team is in the process of preparing a business case to support the acquisition of the new equipment. The team is not particularly financially savvy, so they need you to explain it in language they will understand. During your role play you must demonstrate the following skills:  explain the information outlined in the report (Part 2, Task 2.6) including: o the expected impact of the various financial options presented on the organisation’s goals and objectives o a summary of the risks and benefits associated with each option o that you are awaiting advice on the tax implications of at least one of the recommendations.  present the information clearly using language and terms that are understood by the Manager (Riley Jones, who is not very financially savvy)  listen to and clarify any questions asked by the stakeholder  ask clarifying questions to ensure the stakeholder understands the information and advice presented. Role of the person in the supporting role Ask a colleague or peer to act in a supporting role.  Riley Jones (Manager 2) Manager-in-Charge – Design and Fabrication at FAB Plastics. Online students will need to arrange a friend or colleague to play this part. Other students may use another class member or other person. To assist them, ensure you provide them with the role play script, FNSACC412_AE_Sk3of3_Appx_RolePlay . Time allowed Your role play should take approximately 10 minutes to perform and/or record. Document title: FNSACC521_AE_SK3of3 Page 4 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

Observation checklist The assessor will use this checklist to assess your performance whilst observing you complete the role play. Use this observation checklist to understand what skills you need to demonstrate. The Observation checklist lists the observable criteria in this assessment. You must meet all the criteria. Note that S = Satisfactory and U/S = Unsatisfactory. Table 2 – Student details Student name Table 3 – Observation details Observations details Details of observation Observation 1 Date: Location: Assessor name: Assessor signature: Table 4 – Observation table OC #1 Observable criteria Did the student? OBS 1 Role Play 1 Present findings and provide advice 1. Present and explain your findings and decisions when comparing Cash Vs Credit and Payback. S ☐ U/S ☐ 2. Explain the information outlined in the report (Part 2, Task 2) including:  the expected impact of the various financial options presented on the organisation’s goals and objectives.  that you are awaiting advice on the tax implications of at least one of the recommendations. S ☐ U/S ☐ 3. Present the recommendations you provided in the Financial Advice Report for Manager 2 (Riley Jones). S ☐ U/S ☐ Document title: FNSACC521_AE_SK3of3 Page 5 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

OC #1 Observable criteria Did the student? OBS 1 4. Present the information clearly using language and terms that are understood by the stakeholder. S ☐ U/S ☐ 5. Ask clarifying questions to ensure the stakeholder understand the information and advice presented. S ☐ U/S ☐ 6. Listen to and clarify any questions asked by the stakeholder. S ☐ U/S ☐ Table 5 – Overall observation feedback Overall observation feedback Document title: FNSACC521_AE_SK3of3 Page 6 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

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Submission checklist Submit the following for marking: ☐ This completed Assessment 3 of 3: Role Play ☐ Video recording (if remote) Document title: FNSACC521_AE_SK3of3 Page 7 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

Additional evidence for verification of assessment Assessors may ask additional questions to clarify your understanding during or after an observation. You may be asked questions:  to clarify your understanding (for example, ‘Why did you select that particular piece of equipment?’)  to capture contingencies that may form part of the demonstration (for example, dealing with faults or unexpected events)  to prevent a work, health and safety incident. If additional questions are required, these questions and your responses will be recorded in this table. Table 6 Additional evidence Additional question/s asked by the assessor Maps to Part or Task: Student response to the additional question/s Document title: FNSACC521_AE_SK3of3 Page 8 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

This page is not required for online assessment submissions Student assessment declaration This assessment is my original work and has not been:  copied from any source without proper referencing  written for me by any other person except where such collaboration has been approved by a teacher or assessor. Student signature and date Assessment feedback ☐ Reasonable adjustment was in place for this assessment event. If so, please provide details of any reasonable adjustment strategies that were implemented: Reasonable adjustment strategies : Assessment outcome ☐ Satisfactory ☐ Unsatisfactory Comments : Assessor name, signature and date Student acknowledgement of assessment outcome Would you like to make any comments about this assessment? Student name, signature and date Document title: FNSACC521_AE_SK3of3 Page 9 of 9 Resource ID: SEMX_22_003_FNSACC521_AE_SK3of3 Version: 20221207

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