Depreciation Scheduling and Journal Ledger Preparation

Assessment
BSBFIA401
Prepare financial reports

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College Details
Future College
Contact: Ms. Kalpana Bhandari
Tel: [phone]
Mob: [phone]
Email: [e-mail]
Address: Suite 85 Level 8 8-24 Kippax St
SURRY HILLS NSW 2010
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Your Workplace Health and Safety at Future
College
1. It is your duty to inform staff at Hannay if you see, hear or come
across any incident, situation or hazard that might require immediate
attention.
2. In case of an emergency evacuation, you are required to follow the
instructions provided by the trainer. While exiting the building, keep
calm and walk alongside the hand rails.
Table of Contents
Table of Contents...............................................................................1
Instructions to Learner.......................................................................3
Assessment instructions..................................................................................3
Assessment requirements............................................................................... 6
Candidate Details...............................................................................7
Assessment – BSBFIA401: Prepare financial reports.......................................7
Observation/Demonstration................................................................8
Third Party Guide...............................................................................9
Third party details (required information from the learner)............................9
Activities.........................................................................................10
Activity 1A..................................................................................................... 10
Activity 1A checklist – for assessor................................................................11
Activity 1B..................................................................................................... 12
Activity 1B checklist – for assessor................................................................13
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Activity 1C..................................................................................................... 14
Activity 1C checklist – for assessor................................................................15
Activity 2A..................................................................................................... 16
Activity 2A checklist – for assessor................................................................17
Activity 2B..................................................................................................... 18
Activity 2B checklist – for assessor................................................................19
Activity 2C..................................................................................................... 20
Activity 2C checklist – for assessor................................................................21
Activity 2D..................................................................................................... 22
Activity 2D checklist – for assessor...............................................................23
Activity 3A..................................................................................................... 24
Activity 3A checklist – for assessor................................................................25
Activity 3B..................................................................................................... 26
Activity 3B checklist – for assessor................................................................27
Activity 4A..................................................................................................... 28
Activity 4A checklist – for assessor................................................................29
Activity 4B..................................................................................................... 30
Activity 4B checklist – for assessor................................................................31
Activity 4C..................................................................................................... 32
Activity 4C checklist – for assessor................................................................33
Summative Assessments..................................................................34
Section A: Skills Activity................................................................................ 35
Summative Assessments: Section A checklist...............................................37
Section B: Knowledge Activity (Q & A)...........................................................38
Summative Assessments: Section B checklist...............................................39
Section C: Performance Activity....................................................................40
Summative Assessments: Section C checklist...............................................41
Workplace Documentation – for learner.............................................42
Workplace documents checklist....................................................................42
Supplementary Oral Questions (optional) – for assessor.....................43
Competency record to be completed by assessor...............................46
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Instructions to Learner
Assessment instructions
Overview
Prior to commencing the assessments, your trainer/assessor will explain each
assessment task and the submission of your assessment task. Please consult
with your trainer/assessor if you have any questions. It is important that you
understand and adhere to the terms and conditions, and fully address 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 of the 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
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
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 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
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 Not Competent outcome.
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).
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 Competent” (NC) for the
relevant unit of competency.
If you are deemed “Not 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 Competent” you will be required to re-
enrol in the unit of competency.
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 Academic Manager, in writing, outlining the reason(s) for the
appeal.
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Recognition of Prior Learning (RPL)
Learners will be able to have their previous experience or expertise recognised
on request.
Special Needs
Learners 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 .
Activities
Complete the following activities individually or in a group (as
applicable to the specific activity and the assessment environment).
Where applicable, a signed observation by either an approved third
party or the assessor will need to be included in these activities as
proof of completion.
TASK 1. KNOWLEDGE QUESTIONS
This task is subdivided into 4 Activities covering elements
and performance criteria 1 to 4. Complete all questions I the
spaces provided below
Activity 1A (1.1
Introduction
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Preparation of the financial reports is essential for the company for assessing the financial stability of the
business. It is expected to give meaningful insights into the net cash flow for the company and about the
performance of the business indicators.
This financial report is based on the identification of the flow of credit and incurred debt by the company.
The preparation of the general ledger is for the motor vehicle of the company Accounting Without Tears
Ltd. with an overview of the expenses incurred
Answer the following questions in relation to your own organisation’s
policy, procedures and legislation:
1. What is a register of property, plant and equipment and how is one
prepared? (1.1)
A property, plant and equipment register is a list of all the
important fixed assets in an organisation. A property, plant and
equipment register is typically prepared in a spreadsheet and
updated every time an asset is bought or sold.
2. What information should be included in a fixed asset register? (1.1)
 Purchase date of the asset.
 Who it was purchased from.
 Purchase price of the asset .
3. Explain the legislative and organisational requirements for preparing
a register of property, plant and equipment. (1.1)
The Australian Accounting Standards Board makes Accounting
Standard (AASB) 116 Property, Plant and Equipment under section
334 of the Corporations Act 2001. It is responsible for developing,
issuing and maintaining Australian Accounting Standards and
related pronouncements. Assets are defined as future economic
benefits controlled by the entity as a result of past transactions,
and they are classified as either tangible or intangible.
4. List six examples of property, plant and equipment.(1.1)
Buildings.
Plant and equipment.
Office equipment.
Computer equipment.
Furniture and fittings.
Motor vehicles.
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