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Table of Contents

Table of Contents 1
Instructions to Learner 2
Assessment instructions 2
Assessment requirements 5
Candidate Details 6
Assessment – BSBFIM501: Manage budgets and financial plans 6
Observation/Demonstration 7
Third Party Guide 8
Third party details (required information from the learner) 8
Activities 9
Activity 1A 9
Activity 1B 10
Activity 2A 11
Activity 2B 12
Activity 2C 13
Activity 3A 14
Activity 3B 15
Activity 3C 16
Activity 3D 17
Activity 4A 18
Activity 4B 19
Activity 4C 20

Instructions to Learner
Assessment instructions
Prior to commencing the assessments, your trainer/assessor will explain each assessment task and the terms and conditions relating to the submission of your assessment task. Please consult with your trainer/assessor if you are unsure of any questions. It is important that you understand and adhere to the terms and conditions, and address fully each assessment task. If any assessment task is not fully addressed, then your assessment task will be returned to you for resubmission. Your trainer/assessor will remain available to support you throughout the assessment process.
Written work
Assessment tasks are used to measure your understanding and underpinning skills and knowledge of the overall unit of competency. When undertaking any written assessment tasks, please ensure that you address the following criteria:
? Address each question including any sub-points
? Demonstrate that you have researched the topic thoroughly
? Cover the topic in a logical, structured manner
? Your assessment tasks are well presented, well referenced and word processed
? Your assessment tasks include your full legal name on each and every page.
Active participation
It is a condition of enrolment that you actively participate in your studies. Active participation is completing all the assessment tasks on time.
Plagiarism is taking and using someone else's thoughts, writings or inventions and representing them as your own. Plagiarism is a serious act and may result in a learner’s exclusion from a course. When you have any doubts about including the work of other authors in your assessment, please consult your trainer/assessor. The following list outlines some of the activities for which a learner can be accused of plagiarism:
? Presenting any work by another individual as one's own unintentionally
? Handing in assessments markedly similar to or copied from another learner
? Presenting the work of another individual or group as their own work
? Handing in assessments without the adequate acknowledgement of sources used, including assessments taken totally or in part from the internet.
If it is identified that you have plagiarised within your assessment, then a meeting will be organised to discuss this with you, and further action may be taken accordingly.
Collusion is the presentation by a learner of an assignment as their own that is, in fact, the result in whole or in part of unauthorised collaboration with another person or persons. Collusion involves the cooperation of two or more learners in plagiarism or other forms of academic misconduct and, as such, both parties are subject to disciplinary action. Collusion or copying from other learners is not permitted and will result in a “0” grade and NYC.
Assessments must be typed using document software such as (or similar to) MS Office. Handwritten assessments will not be accepted (unless, prior written confirmation is provided by the trainer/assessor to confirm).
Competency outcome
There are two outcomes of assessments: S = Satisfactory and NS = Not Satisfactory (requires more training and experience).
Once the learner has satisfactorily completed all the tasks for this module, the learner will be awarded “Competent” (C) or “Not yet Competent” (NYC) for the relevant unit of competency.
If you are deemed “Not Yet Competent” you will be provided with feedback from your assessor and will be given another chance to resubmit your assessment task(s). If you are still deemed as “Not Yet Competent” you will be required to re-enrol in the unit of competency.
Additional evidence
If we, at our sole discretion, determine that we require additional or alternative information/evidence in order to determine competency, you must provide us with such information/evidence, subject to privacy and confidentiality issues. We retain this right at any time, including after submission of your assessments.
We will treat anything, including information about your job, workplace, employer, with strict confidence, in accordance with the law. However, you are responsible for ensuring that you do not provide us with anything regarding any third party including your employer, colleagues and others, that they do not consent to the disclosure of. While we may ask you to provide information or details about aspects of your employer and workplace, you are responsible for obtaining necessary consents and ensuring that privacy rights and confidentiality obligations are not breached by you in supplying us with such information.

Assessment appeals process
If you feel that you have been unfairly treated during your assessment, and you are not happy with your assessment and/or the outcome as a result of that treatment, you have the right to lodge an appeal. You must first discuss the issue with your trainer/assessor. If you would like to proceed further with the request after discussions with your trainer/assessor, you need to lodge your appeal to the course coordinator, in writing, outlining the reason(s) for the appeal.
Recognised prior learning
Candidates will be able to have their previous experience or expertise recognised on request.
Special needs
Candidates with special needs should notify their trainer/assessor to request any required adjustments as soon as possible. This will enable the trainer/assessor to address the identified needs immediately.

Assessment requirements
Assessment can either be:
? Direct observation
? Product-based methods e.g. reports, role plays, work samples
? Portfolios – annotated and validated
? Questioning
? Third party evidence.
If submitting third party evidence, the Third Party Observation/Demonstration document must be completed by the agreed third party.
Third parties can be:
? Supervisors
? Trainers
? Team members
? Clients
? Consumers.
The third party observation must be submitted to your trainer/assessor, as directed.
The third party observation is to be used by the assessor to assist them in determining competency.
The assessment activities in this workbook assess aspects of all the elements, performance criteria, skills and knowledge and performance requirements of the unit of competency.
To demonstrate competence in this unit, you must undertake all activities in this workbook and have them deemed satisfactory by the assessor. If you do not answer some questions or perform certain tasks, and therefore you are deemed to be Not Yet Competent, your trainer/assessor may ask you supplementary questions to determine your competence. Once you have demonstrated the required level of performance, you will be deemed competent in this unit.
Should you still be deemed Not Yet Competent, you will have the opportunity to resubmit your assessments or appeal the result.
As part of the assessment process, all learners must abide by any relevant assessment policies as provided during induction.
If you feel you are not yet ready to be assessed or that this assessment is unfair, please contact your assessor to discuss your options. You have the right to formally appeal any outcome and, if you wish to do so, discuss this with your trainer/assessor.
Candidate Details
Assessment – BSBFIM501: Manage budgets and financial plans
Please complete the following activities and hand in to your trainer/assessor for marking. This forms part of your assessment for BSBFIM501: Manage budgets and financial plans.
Name: _____________________________________________________________
Address: _____________________________________________________________
Email: _____________________________________________________________
Employer: _____________________________________________________________
I declare that no part of this assessment has been copied from another person’s work with the exception of where I have listed or referenced documents or work and that no part of this assessment has been written for me by another person. I also understand the assessment instructions and requirements and consent to being assessed.
Signed: ____________________________________________________________
Date: ____________________________________________________________
If activities have been completed as part of a small group or in pairs, details of the learners involved should be provided below:
This activity workbook has been completed by the following persons and we acknowledge that it was a fair team effort where everyone contributed equally to the work completed. We declare that no part of this assessment has been copied from another person’s work with the exception of where we have listed or referenced documents or work and that no part of this assessment has been written for us by another person.
Learner 1: ____________________________________________________________
Signed: ____________________________________________________________
Learner 2: ____________________________________________________________
Signed: ____________________________________________________________
Learner 3: ____________________________________________________________
Signed: ____________________________________________________________

Throughout this unit, you will be expected to show your competency of the elements through observations or demonstrations. Your trainer/assessor will have a list of demonstrations you must complete or tasks to be observed. The observations and demonstrations will be completed as well as the activities found in this workbook.
An explanation of observations and demonstrations:
Observation is on-the-job
The observation will usually require:
? Performing a work based skill or task
? Interaction with colleagues and/or customers.
Demonstration is off-the-job
A demonstration will require:
? Performing a skill or task that is asked of you
? Undertaking a simulation exercise.
Your trainer/assessor will inform you of which one of the above they would like you to do. The observation/demonstration will cover one of the unit’s elements.
The observation/demonstration will take place either in the workplace or the training environment, depending on the task to be undertaken and whether it is an observation or demonstration. Your trainer/assessor will ensure you are provided with the correct equipment and/or materials to complete the task. They will also inform you of how long you have to complete the task.
You should be able to demonstrate the skills, knowledge and performance criteria required for competency in this unit, as seen in the Learner Guide.

Third Party Guide
You should supply details of the third party to the assessor before you commence the activities (see below), unless the assessor has already selected a third party themselves. The assessor can then contact the third party in instances where they require more evidence to determine competency, or they cannot observe certain tasks themselves.
The reasons to use a third party may include:
? Assessment is required in the workplace
? Where there are health and safety issues related to observation
? Patient confidentiality and privacy issues are involved.
If you are not employed, or able to complete demonstrative tasks in the workplace, you will need to inform the assessor. They will be able to provide you with a simulated environment in which to complete these tasks.
We would prefer that, wherever possible, these be “live” issues for your industry and require application of the principles that you are learning as part of your training. Where this is not possible, you and your third party should simulate the activity tasks and demonstrations that you believe would be likely to arise in your organisation or job role.
Third party evidence can also be used to provide “everyday evidence” of tasks included in your work role that relate to the unit of competency but are not a part of the formal assessment process.
The third party is not to be used as a co-assessor – the assessor must make the final decision on competency themselves.
Documents relevant to collection of third party evidence are included in the Third Party section in the Observations/Demonstrations document.
Third party details (required information from the learner)
A third party may be required for observations or demonstrations; please provide details below of your nominated third party and obtain their signature to confirm their agreement to participate. This information will be required by your trainer/assessor in advance of arranging any future observations or demonstrations.
Third party name: ______________________________________________________________
Position of third party: ______________________________________________________________
Telephone number: ______________________________________________________________
Email address: ______________________________________________________________
Declaration for nominated third party
I declare my intention to act as third party for (learner’s name here) __________________________
Third party signature: _____________________________________ Date: ___________________
Complete the following activities individually or in a group (as applicable to the specific activity and the assessment environment).
Activity 1A
Estimated Time 40 Minutes
Objective To provide you with an opportunity to access budget/financial plans for the work team; clarify budget/financial plans with relevant personnel within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible; negotiate any changes required to be made to budget/financial plans with relevant personnel within the organisation.
Activity How would you go about accessing the budget and financial plans for your organisation? Which personnel would you need to consult and what issues might need to be addressed?
Activity 1B
Estimated Time 25 Minutes
Objective To provide you with an opportunity to prepare contingency plans in the event that initial plans need to be varied.
Activity What is the purpose of a contingency plan? Note five possible contingencies related to your organisation.
Activity 2A
Estimated Time 25 Minutes
Objective To provide you with an opportunity to disseminate relevant details of the agreed budget/financial plans to team members.
Activity Who might you need to inform about budget/financial plans in your organisation? What information would the respective people need to know?
Activity 2B
Estimated Time 45 Minutes
Objective To provide you with an opportunity to provide support to ensure that team members can competently perform required roles associated with the management of finances.
Activity Speak with a team member in your organisation and identify what support they may require to improve their performance. Plan how you would implement this.
Activity 2C
Estimated Time 30 Minutes
Objective To provide you with an opportunity to determine and access resources and systems to manage financial management processes within the work team.
Activity Outline the following resources and systems, as they pertain to your organisation:
? Hardware and software
? Human, physical or financial resources
? Record keeping systems (electronic and paper-based)
? Specialist advice or support.
Activity 3A
Estimated Time 30 Minutes
Objective To provide you with an opportunity to implement processes to monitor actual expenditure and to control costs across the work team.
Activity Access the general ledger of your organisation and choose a month to analyse – where are most of your costs coming from and are they generating a viable return?
Activity 3B
Estimated Time 40 Minutes
Objective To provide you with an opportunity to monitor expenditure and costs on an agreed cyclical basis to identify cost variations and expenditure overruns.
Activity 1. List three causes of cost variation in your organisation.
2. Research what cost expenditure meetings are undertaken in your organisation. List who participates and what is discussed in each one.
Activity 3C
Estimated Time 20 Minutes
Objective To provide you with an opportunity to implement, monitor and modify contingency plans as required to maintain financial objectives.
Activity What processes are involved in the monitoring of a contingency plan?

Activity 3D
Estimated Time 60 Minutes
Objective To provide you with an opportunity to report on budget and expenditure in accordance with organisational protocols.
Activity Prepare a Business Activity Statement for your organisation, complying with Australian Tax Office regulations and your organisational protocols.
Activity 4A
Estimated Time 20 Minutes
Objective To provide you with an opportunity to collect and collate for analysis, data and information on the effectiveness of financial management processes within the work team.
Activity What financial records does your organisation keep and what methods of storage/organisation does it use?
Activity 4B
Estimated Time 25 Minutes
Objective To provide you with an opportunity to analyse data and information on the effectiveness of financial management processes within the work team and identify, document and recommend any improvements to existing processes.
Activity 1. Outline the following terms:
? Earnings growth
? Earnings stability
? Return on equity.
2. How might you determine your company's performance regarding the above?
Activity 4C
Estimated Time 45 Minutes
Objective To provide you with an opportunity to implement and monitor agreed improvements in line with financial objectives of the work team and the organisation.
Activity Identify an improvement that needs to be made in your organisation and implement it.
(If this isn’t possible, plan in detail how you would implement and monitor it.)

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