RTO Name
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Student Assessment Tasks
FNSINC602 Interpret and use financial statistics and tools

Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 6
Assessment Task 1 Cover Sheet 7
Assessment Task 1: Written Questions 8
Assessment Task 1 Instructions 10
Assessment Task 1 Checklist 13
Assessment Task 2 Cover Sheet 14
Assessment Task 2: Financial statistics and tools project 15
Assessment Task 2 Instructions 17
Assessment Task 2 Checklist 21

Assessment Information
The assessment tasks for FNSINC602 Interpret and use financial statistics and tools 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 Plan
Assessment Task Overview
1. Written questions You must correctly answer all questions
2. Financial statistics and tools project You must complete a project to use financial statistics and tools to analyse and report on data for a client, Boutique Build Australia.
Assessment Preparation
Please 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 appeals
If 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 documents
It 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 created
For example, FNSINC401 AT2 Customer Data Report Joan Smith 20/10/18
Additional Resources
You will be provided with the following resources before you begin Assessment Task 2
• Customer List
• Financial Policy and Procedures
• Financial Statistics
• Survey Results
• Customer Data Report Template
• Company Data Template
• Survey Sample Recommendation Template
• Survey Analysis Template
• Survey Report Template

Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This 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 per
your 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 Information
This gives you:
• a summary of the assessment task
• information on the resources to be used
• submission requirements
• re-submission opportunities if required
Assessment Task Instructions
These 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.
Checklist
This 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 Agreement
Make 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 • No
Do you understand the requirements of the assessments for this unit? • Yes • No
Do you agree to the way in which you are being assessed? • Yes • No
Do you have any specific needs that should be considered? • Yes • No
If so, explain these in the space below.
Do you understand your rights to re-assessment? • Yes • No
Do you understand your right to appeal the decisions made in an assessment? • Yes • No
Student name
Student number
Student signature
Date
Assessor name
Assessor signature
Date

Assessment Task 1 Cover Sheet
Student Declaration
To 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 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 name
Student ID number
Student signature
Date
Assessor 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 name
Assessor signature
Date
Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
• My performance in this assessment task has been discussed and explained to me.
• I would like to appeal this assessment decision.
Student signature
Date
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Assessment Task 1: Written Questions
Task summary
This is an open book test, to be completed in the classroom.
A time limit of 2 hours 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/other learning materials
• Computer and Microsoft Office
• Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
• Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.
Re-submission opportunities
You 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 guidance
The 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 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 do so putting 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 Instructions
Provide answers to all of the questions below:
1. Explain measure of central tendency and the main measures of central tendency.
2. Review the following set of data. Explain which measure of central tendency is most appropriate for identifying the company’s most popular product as per the number of items purchased per product? Calculate the measure of central tendency using the data below and show your workings.
Products Product 1: Skirt Product 2: Jumper Product 3: Dresses Product 4: Scarves Product 5: Hats Product 6: Rings
Number of items purchased 36 30 32 24 12 10
3. Calculate the mean of the following sales data for 2013 – 2017. Show your workings.
Year 2013 2014 2015 2016 2017
Sales revenue $350,000 $375,000 $400,000 $420,000 $450,000
4. Explain the use of the median as a measure of central tendency. Then calculate the median number of skirts sold per day at Sue’s Clothing Supplies.
Products Monday Tuesday Wednesday Thursday Friday Saturday Sunday
Skirts 44 32 22 54 74 4 18
5. Explain correlation and why this statistical method may be useful for a company.
6. A consultancy company is reviewing its expenditure on advertising against its sales revenue over the last two years. The correlation coefficient calculated is 0.2. Explain the relationship between advertising expenditure and sales revenue and how might the company use this finding to inform its actions.

7. Explain the product moment correlation coefficient. Then apply the formula to calculate the correlation coefficient between advertising and sales as shown below.
Year 2012 2013 2014 2015 2016 2017
Advertising spend ($000) 15 16 17 18 19 20
Sales revenue ($000) 300 345 375 405 420 450
8. Explain regression analysis and its application.
9. Describe three statistical analysis ratios that are commonly used by accountants.
10. Outline two sources of information that an accountant could use to access statistical data relevant to the financial services industry. Your answers should outline the type of data that can be sourced from each.
11. What type of chart is shown below? Explain three key features of this type of chart.

12. What type of chart is shown below? Explain three key features of this type of chart.


13. What type of table is shown below? Explain three key features of this type of chart.
Mark Tally Frequency
4 III 3
5 IIIII 5
6 III 3
7 I 1
8 II 2
9 III 3
14. What type of diagram is shown below? Explain three key features of this type of diagram.
15. Explain two key principles of statistical standards and provide an example of one standard.

Assessment Task 1 Checklist
Student’s name:
Did the student provide a sufficient and clear answer that addresses the suggested answer for: Completed successfully Comments
Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Question 12
Question 13
Question 14
Question 15
Task Outcome: Satisfactory • Not Satisfactory •
Assessor signature
Assessor name
Date

Assessment Task 2 Cover Sheet
Student Declaration
To 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 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 name
Student ID number
Student signature
Date
Assessor 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 name
Assessor signature
Date
Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
• My performance in this assessment task has been discussed and explained to me.
• I would like to appeal this assessment decision.
Student signature
Date
A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Assessment Task 2: Financial statistics and tools project
Task summary
This assessment task requires you to assume the role of an Accountant and use financial statistics and tools to analyse and report on data for a client, Boutique Build Australia.
This assessment is to be completed in the simulated work environment in the RTO.
Required
• Access to textbooks/other learning materials
• Computer with Microsoft Office and internet access
• Financial Statistics
• Company Data Template
• Customer List
• Survey Results
• Customer Data Report Template
• Company Data Template
• Survey Sample Recommendation Template
• Survey Analysis Template
• Survey Report Template
Timing
Your assessor will advise you of the due date of these submissions.
Submit
• Email with Customer Data Report and Company Data Workbook attached
• Email with Survey Sample Recommendation attached
• Email with Survey Analysis, Survey Report and screen shot attached
Assessment criteria
For 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 opportunities
You 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 Instructions
Carefully read the following:
Boutique Build Australia specializes in designing and building boutique houses for residential customers. It has been operating since 2002.
The company is a new client, and they have requested your assistance in analysing both internal and external statistical data to assess their performance as a business, as well as using the analysis to assist with forecasting. They also want you to validate the data, to test the effectiveness of the data, and then to establish any relationship between GDP and sales.
The client has provided you with internal data for the last 10 years that includes trading revenue, total assets and earnings before interest. You will find this in the document Financial Statistics.
Your work should comply with industry standards and your company’s internal regulations set out in Financial Policy and Procedures.
Complete the following activities:
1. List the three different forecasting methods for forecasting growth covered in this course and explain the circumstances in which each would be used.
Record your response in Customer Data Report Template.
2. Prepare six forecasts for sales for 2017 using two for each of the three methods.
The relevant company data can be found in the document Financial Statistics.
Use Company Data Student to complete your response. You should insert the formulas into the tables yourself.
• For the Moving Average method, one forecast using 3-year period and the other using 4-year period.
• For the Weighted Moving Average method, one forecast using weights of 0.5, 0.35 and 0.15, from the most recent observation to the third most recent. The other forecast using weights of 0.55, 0.3 and 0.15 in a similar fashion.
• For the Exponential Smoothing method, one forecast should be prepared using a = 0.85 and the other using a = 0.35.
Use the Company Data Template Excel Workbook to guide your work.

3. Create a summary of the results
Use the MAD column next to each forecasting method option to perform the calculations, so you will end up with six different values which measure effectiveness, two for each method.
Summarise the six forecasts in the Summary Results Worksheet of the Company Data Template.
4. Explain why it is important to test the effectiveness of the various forecasting methods and give the formula of the most widely used test measure.
Record your response in Customer Data Report Template.
5. Choose the forecasted value for 2017 you will use and give reasons.
Record your response in Customer Data Report Template.
6. What are the possible limitations of relying solely on statistical techniques to develop forecasts?
Record your response in Customer Data Report Template.
7. The company wishes to establish whether there is a relationship between GDP and sales.
Identify a source of information for establishing GDP.
Which technique would you use to establish whether there is a relationship between the two?
Explain the method and why.
Record your response in Customer Data Report Template.
8. Calculate the relationship between GDP and sales
Using the method that you have identified in the previous activity, calculate the relationship between the two.
Use the Sales vs GDP Worksheet in Company Data Template to perform the calculations.
9. Comment on the strength of the relationship between GDP chain volume measures and the Boutique Build sales from 1999 to 2016.
Record your response in Customer Data Report Template.

10. File your documents.
You will now have the following documents:
• Customer Data Report Word document containing your responses to activities 1,4,5,6,7,9.
• Company Data Excel Workbook with your responses to activities 2,3, and 8.
Ensure that these documents are named and filed correctly.
11. Send an email to your Manager (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should outline the project and summarise the contents of the attachments.
Attach your customer data report and company data Workbook to the email.
Boutique Build Australia is very happy with your report and has now asked for your advice on the sampling to assist in studying the main motivating factor of why customers choose Boutique Build Australia.
They have provided you with a Customer List in order to select the sample. They have indicated that, as they have approximately 100 customers, they would like you to select an appropriate and representative sample size.
12. Report on sampling methods.
Discuss at least three sampling methods that could be used. Identify which sampling method you consider to be best and why.
Record your response in Survey Sample Recommendation Template.
13. Identify the sample that should be used.
Using the information provided to you in Customer List, identify the sample that will be used based on the method you have identified.
Record your response in Survey Sample Recommendation Template.
14. Send an email to Boutique Build (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 feedback and approval to move forward with the project.
Attach your Survey Sample Recommendation to the email.
Carefully read through the following:
Assume that, based on the sample you identified, the company conducted a survey to identify the main motivating factors that influence customers to sign up for a building project with Boutique Build Australia.
The results of the survey are in the document Survey Results, and the company has asked you to include an analysis of the results in your report. The Boutique Build Australia management team have asked you to present the results in the form of a graph, diagram and table and to comment on the findings.
15. Create a graphical representation of the results.
Use Survey Analysis Template to record the survey results and create graphs for survey questions 2,3 and 4.
16. Write a report on the survey results.
When you have completed the Survey Analysis, write a short report (half a page) on the findings for the Boutique Build Australia management team.
Use the Survey Report Template to record your response.
17. Take a screen shot of your folder and files.
The final part of this assessment requires you to demonstrate that you can file all of your records in a logical structure.
Ensure that you have an overall folder for your work, as well as sub folders if necessary.
All of the documents you have submitted for this assessment task should be correctly named and filed.
The screen shot should show all the folders and documents.
18. Send an email to Boutique Build (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 summarise the contents of the attachments.
Attach your survey analysis, survey report and the screen shot to the email.

Assessment Task 2 Checklist
Student’s name:
Did the student: Completed successfully Comments
Yes No
Identify and review forecasting methods that can be used for forecasting sales growth for Boutique Build Australia?
Use forecasting methods identified to forecast sales?
Use data provided for client in forecasting sales?
Calculate the Mean Absolute Deviation to test the effectiveness of the data?
Ensure accuracy and consistency with standards set out in the Financial Policy and Procedures, evidenced by an error-free report?
Identify source of data for GDP and use to calculate relationships between sales growth and growth in GDP?
Interpret and describe a range of sampling techniques?
Use sampling techniques and create graphs?
Produce a survey analysis that includes charts and tables as required?
File all records in a suitable folder?
Task Outcome: Satisfactory • Not Satisfactory •
Assessor signature
Assessor name
Date