BSBFIM601 Manage Finances Learner Workbook

This BSBFIM601 Manage Finances Learner Workbook from Desklib provides assessment instructions, requirements, and activities for managing finances. It covers topics such as written work, active participation, plagiarism, and collusion. Perfect for students studying finance management.

BSBFIM601
Manage finances
Learner Workbook

Page | 1
Table of Contents
Table of Contents 1
Instructions to Learner 3
Assessment instructions 3
Assessment requirements 6
Candidate Details 7
Assessment – BSBFIM601: Manage finances 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
Activity 1C 14
Activity 1C checklist – for assessor 15
Activity 1D 16
Activity 1D checklist – for assessor 17
Activity 1E 18
Activity 1E checklist – for assessor 19
Activity 1F 20
Activity 1F checklist – for assessor 21
Activity 2A 22
Activity 2A checklist – for assessor 23
Activity 2B 24
Activity 2B checklist – for assessor 25
Activity 2C 26
Activity 2C checklist – for assessor 27
Activity 3A 28

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Activity 3A checklist – for assessor 29
Activity 3B 30
Activity 3B checklist – for assessor 31
Activity 3C 32
Activity 3C checklist – for assessor 33
Activity 3D 34
Activity 3D checklist – for assessor 35
Activity 3E 36
Activity 3E checklist – for assessor 37
Activity 3F 38
Activity 3F checklist – for assessor 39
Activity 4A 40
Activity 4A checklist – for assessor 41
Activity 4B 42
Activity 4B checklist – for assessor 43
Activity 4C 44
Activity 4C checklist – for assessor 45
Activity 4D 46
Activity 4D checklist – for assessor 47
Summative Assessments 48
Section A: Skills Activity 49
Summative Assessments: Section A checklist 50
Section B: Knowledge Activity (Q & A) 51
Summative Assessments: Section B checklist 52
Section C: Performance Activity 53
Summative Assessments: Section C checklist 54
Workplace Documentation – for learner 55
Workplace documents checklist 55
Supplementary Oral Questions (optional) – for assessor 56
Competency record to be completed by assessor 59

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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 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
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

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⮚ 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 “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.
Confidentiality
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.

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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.

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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 –
it is not compulsory for assessment, however, and is to be used at the assessor’s discretion where
required.
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 (formative and summative)
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.

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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 – BSBFIM601: Manage finances
Please complete the following activities and hand in to your trainer/assessor for marking. This forms
part of your assessment for BSBFIM601: Manage finances.
Name: _____________________________________________________________
Address: _____________________________________________________________
_____________________________________________________________
Email: _____________________________________________________________
Employer: _____________________________________________________________
Declaration
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: ____________________________________________________________

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Learner 2: ____________________________________________________________
Signed: ____________________________________________________________
Learner 3: ____________________________________________________________
Signed: ____________________________________________________________

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Observation/Demonstration
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.
Please note that observations are not compulsory for assessment. They are for use at the assessor’s
discretion. They should be used only where observation is required for judging the learner’s
competency (i.e. a practical or performance task), or where the learner requires a reasonable
adjustment (e.g. they are unable to complete a written task due to impairment or a disability).
Observation checklists have been included for all performance criteria in the Observations and
Demonstrations Checklists document, but the assessor only needs to record evidence in this
document if they deem it necessary to judge competency for that particular activity.
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.

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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

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I declare my intention to act as third party for (learner’s name here) __________________________
Third party signature: _____________________________________ Date: ___________________
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.
Activity 1A
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to review and analyse
previous financial data to establish areas which have generated a profit or
loss.
Activity Identify an area of business and explain how you could use different forms of
current and present financial data to ascertain whether the department made
a profit or a loss.
You do not have to use actual figures from your business.
In order to identify on whether the sales department made profit and loss in
that current year, financial data of both short and long term will be used to
indicate financial viability of the business and also to create future projections.
Previous and current data will be compared to know whether company has
grown or not (Epstein, 2018). The financial data will also help in identifying on
the sale department has been able to increase profit or have incurred loss.
Financial information such as total sales will show on whether the company has
incurred profit or loss in the current year. Through use of financial information
regarding sales and its cost the profit and loss of sales department can be
known whereas the comparison to previous financial performance will enhance
the knowledge over the growth f profit and loss in recent years (DeYoung &
Jang, 2016).

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Activity 1A checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory

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If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 1B
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to undertake research
to review reasons for previous profit and loss.
Activity Using your answer from the previous activity, explain how you would
undertake research to review the reasons for the profit or loss.
There are several reasons that can be implied in order to gain the accurate
knowledge regarding the profit management of the organisation during the
year. the identified reasons are identified and discussed below:
1. Price
The pricing methods regarding the products and services are o be managed
adequately. The more effective and reasonable the pricing is for the product
the more sales it will achieve.
2. Presentation
Presentation of the products and services in the market is important for the
firm in order achieve accurate marketing and profitability of the services and
products (Zhu & Novikov, 2016).
3. Purchasing process
The purchasing process should include procedures and methods that should
incur minimum purchasing costs. This is mainly because the profitability
margins can be maximised if the purchasing expenses are minimised.
4. Quality of products
Quality of the products and services are to be adequate enough to have
adequate preferences in the market and customers.
5. Availability of products and services
Availability of qualified products and services needs to be maintained with ever
changing demands in the market (Caselli&Gatti, 2017).

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Activity 1B checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No

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(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 1C
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to review business
plans to establish critical dates and initiatives that will require or generate
resources in the next financial cycle.
Activity Using your business plan, identify your business’ critical dates in terms of
income and resource use and generation.
There are crucial business dates that the firm needs to keep in check
, these are as follows:
1. Identification of national and international sale days in retails
2. Black Fridays in the month

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3. End of financial year sales
4. Boxing day
General sale times are also to be included, which are as follows
1. seasonal clothing changes
2. Newly-released items
3. Store-specific events.
Management of slow financial periods needs to be included in the plan
1. The firm can input their temporary staffs in the lean period in order to
save additional wages during the year.
2. Reducing additional stocks in lean periods
Utilising business plan can be involved in the planning:
1. Should identify and prepare for the busy period
2. Same should dine for the lean periods

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Activity 1C checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:

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Learner’s signature
Assessor’s signature
Activity 1D
Estimated Time 15 Minutes
Objective To provide you with an opportunity to understand how to analyse cash flow
trends.
Activity Explain how and why you would analyse your business’ cash flow trends.
There are several importance in identifying the trends and changes in the
organisational cash flows during the year. the reasons for the such justifications
are stated as follows:
1. The cash flow mainly covers three aspects of the firm which are
operating activities, financing activities and investing activities. Thus the
changes of the flow in these sections ii important for financial
determination of the company (Schwartz, 2017).
2. The understanding of financial income and expenditure can be done by
cash flow
3. The cash variations can also be determined by the cash flow in order to
gain the possible changes and adjustments for the future years (Sassen,
2017).

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Activity 1D checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:

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The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 1E
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to review statutory
requirements for compliance and liabilities for tax.
Activity Which taxes are applied to your business? Explain each one, including the
rates and geographical variations, if applicable.
In the international market the firms are generally charged with the taxes that
are discussed below:
1. Company tax
2. Payroll tax
3. Goods and Services Tax (GST)
4. Capital Gains Tax (CGT).
Not only those, the company should also involve knowledge of the taxes that
are applied to them depending on the services and marketing of the firm during
the year. not only that the geographical valuations and rates applied to the
company should also be identified and calculated during the year (Minsky,
2016).
The industrial factors and licensing factors are also to be included in
determining the accurate tax values.

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Activity 1E checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)

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Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 1F
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to review existing
software and its suitability for financial management.
Activity In reference to your current financial management software, give all of the
pros and cons you can think of.
Summarise whether you think the software is suitable for both your current
needs and future needs.
In the modern international market the implied software for the firm should
be able to provide the firm in managing several tasks which are:
1. Maintenance of the general ledger accounts
2. Managing financial accounts
3. Segmenting income and expenses
4. Recording transactions

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5. Managing bills
6. Creating and managing budgets
7. Monitoring financial investments
8. Creating financial and departmental reports (Maxwell, 2017)
In addition to these points the firm should also monitor the requirements f the
software that can provide the mentioned tasks
The software should not be hard for using
Old features
Incomplete updates
Expensive in using

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Activity 1F checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature

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Activity 2A
Estimated Time 25 Minutes
Objective To provide you with an opportunity to use previous financial data to
determine allocations for resources.
Activity Give an example of how you could use previous financial data to determine
the allocation of resources.
Explain the figures and how you would allocate resources accordingly.
Identification of the previous yeas financial performances and data
distributions the firm can understand the factors and aspects that requires the
essential modifications in the upcoming years. Not only that the factors and
accounts that are performing well and positively can be utilised in taking
finance advantages (McGovern, 2019).

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Activity 2A checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:

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Learner’s signature
Assessor’s signature
Activity 2B
Estimated Time 20 Minutes
Objective To provide you with an opportunity to make informed estimates of new items
for inclusion in budget.
Activity Identify a new item you could add to the budget in your business. Estimate
the costs of the new item and how it would be included in the budget.
You need to estimate both upfront and on-going costs.
The firm must identify the costs and resources that is to be included for the
manufacturing of the new item. And thus the factors and costs involvement of
various aspects should also be provided during the year (Epstein, 2018).
1. The new resources you may need
2. The quantity you may need the new resources in
3. How much you may have to spend.

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Activity 2B checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:

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Learner’s signature
Assessor’s signature
Activity 2C
Estimated Time 20 Minutes
Objective To provide you with an opportunity tounderstand how to prepare budgets in
accordance with organisational requirements and statutory requirements.
Activity Give an overview of the organisational policies and requirements you need to
adhere to when you are preparing budgets.
In order to prepare and imply adequate budget and financial information the
firm must identify the factors and aspects that can benefit the firm through the
implication of the budget (Jakob, Steckel, Flachsland & Baumstark, 2015). The
organisational managers should maintain these following factors in determining
adequate budgetary prospects:
By operating both statutory and organisational requirements, in order to
ensure that can work compliantly (McGovern, 2019)
The organisational manger should be adequately and sufficiently trained for the
implementation of the workplace’s policies and statutory requirements.

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Activity 2C checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:

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The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 3A
Estimated Time 15 Minutes
Objective To provide you with an opportunity tounderstand how tocirculate budgets
and ensure managers and supervisors are clear about budgets, reporting
requirements and financial delegations.
Activity Write a plan detailing how you would circulate newly-written budgets to
managers and explain any additional information they need to know, such as
reporting requirements and financial delegations.
The management of the firm must involve several aspects and factors that the
firm would utilise in maintaining the adequate circulation of the budget as well
as the identification and reporting of the essential requirements of the
organisational budgets during the year (Gitman, Juchau & Flanagan, 2015).
Hence for the circulation of the budget the firm must imply circulation of the
essential and relevant information to the responsible managers and
supervisors. This is mainly because the firm can imply proper changes and
enforcements for the budgetary information. Also it is to be mentioned that the
departmental expenses and relevancy should also be implied in the circulation
of the budget (James, 2017).
And also the requirements of the budgetary procedures should be reports
through communications of budget along with gathering of the feedback and
understanding of the mangers regarding the budget during the year.

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Activity 3A checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the Yes No

Page | 33
activity? (Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 3B
Estimated Time 25 Minutes
Objective To provide you with an opportunity to understand how to manage risks by
checking there are no opportunities for misappropriation of funds and that
systems are in place to properly record all financial transactions.
Activity Identify five different ways staff could misappropriate company funds and
suggest a resolution for each.
There are various organisational risks that the firm can go through during the
year. Theft of data and resources are always therein the firm during the year.
ways of conducting theft of data and resources from the firm are as follows:
1. staff stealing resources, such as pens and documents
2. Altering the pay or expenses
3. outright stealing cash
4. cheque fraud
5. extra withdrawal

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in order to avoid these risks and data stealing the firm must imply following
methods:
1. recording of all transactions
2. Providing details and sources of these transactions with appropriate
details (Maxwell, 2017).

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Activity 3B checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature

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Activity 3C
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how toreview profit and
loss statements, cash flows and ageing summaries.
Activity Explain your organisation’s use of ageing summaries, in terms of accounts
payable and receivable, where applicable.
Reviewing profit and loss statement
1. Provides with detailed information regarding the organisational
financial events for the current year.
2. Summing of net financial performances can also be done
Reviewing profit and loss statement
1. Tounderstand the income and expenditure of an organisation
2. Arisethrough financing, operations andinvesting
3. This can be utilised for specificprojects and also to monitor an
organisation’s entire business finances.
Reviewing the purpose of ageing summaries
1. It contains information regarding the accounts payable and receivable
which are overdue
2. Accrual receivables are also reviewed and grouped during the year
(James, 2017).

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Activity 3C checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:

Page | 38
Learner’s signature
Assessor’s signature
Activity 3D
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to revise budgets, as
required, to deal with contingencies.
Activity Give an example of a contingency that could occur at your workplace and
explain how you would revise the budget to deal with it.
Examples of contingencies
1. Vehicle breakdown
2. Technological malfunction
3. Natural disaster
4. Machinery fault
5. Staff strike.
The firm must learn ways in which it can revise their prepared budgets during
the year
1. Revising budgets in such a way that can be altered during contingencies
2. Preparing provisions for cintingencies

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Activity 3D checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:

Page | 40
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 3E
Estimated Time 15 Minutes
Objective To provide you with an opportunity to understand how to maintain audit
trails to ensure accurate tracking and to identify discrepancies between
agreed and actual allocations.
Activity Give an example of how you could use an audit trail to identify a discrepancy
in budget allocations.
Conduction of audit trials
1. In order to implement systematic records that can be used in solving
queries
2. Audit trials reflects the accuracy of the records
3. With the utilisation of audit trails there is enough development
opportunity for an organisation by understanding the way it has been
operating and needs to operate in future (Maxwell, 2017)

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Activity 3E checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:

Page | 42
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 3F
Estimated Time 30 Minutes
Objective To provide you with an opportunity tounderstand how to ensure compliance
with due diligence.
Activity Identify three areas of compliance you could monitor in your workplace and
explain how you would ensure that regulations are being adhered to.
Compliance of policies
1. Policies and procedures along with adequate protocols in managing
finance
2. Reporting of every event of non-compliance
3. Proper understanding of health and safety protocols
Regulations to keep compliance adhered
all information and factors along with the figures should bechecked for
accuracy byauthorities and reliablesources
The compliances can be well monitored if a responsible person is kept in check
for the changes to be reviewed. With the utilisation of the due diligence the
following of the information get easier and the aspects of compliance get
interesting for the employees to follow (Cumming, Deloof, Manigart & Wright,
2019).

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Activity 3F checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name

Page | 44
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 4A
Estimated Time 15 Minutes
Objective To provide you with an opportunity to ensure structure and format of reports
are clear and conform to organisational and statutory requirements.
Activity Identify a report used in your workplace and list all of your organisation’s
specifications here, including format and style.
Required organisational features

Page | 45
1. Usage of letter headed paper
2. Usage of organisational forms
3. Correct information implementations
4. Timeliness
5. Submission methods, such as email
6. Recipient, such as duty manager
Required formats
1. Audits
2. Balance sheets
3. Cash flow statements

Page | 46
Activity 4A checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature

Page | 47
Assessor’s signature
Activity 4B
Estimated Time 15 Minutes
Objective To provide you with an opportunity to understand how to identify and
prioritise significant issuesin statements, including comparative financial
performances for review and decision making.
Activity How are significant issues in statements highlighted for priority attention in
your workplace?
Identified significant options
1. Cost structures
2. Internal controls
3. Losses and returns
4. Profitability
The changes and issues in the cost structure for an organisation gets
highlighted in the very stage of accounts evaluation and thus, the
understanding of the changes in cost structure gets easier to notice.
Internal controls cannot be highlighted without understanding the places it gets
actually utilised. However, the use of the controls for the management in
organisation if sees any change can be identified by the slow progress of work.
Loss and returns along with the profitability easy to be highlighted through the
evaluation of the financial books.

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Activity 4B checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:

Page | 49
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 4C
Estimated Time 20 Minutes
Objective To provide you with an opportunity to understand how to prepare
recommendations to ensure financial viability of the organisation.
Activity Explain how you would use each of the following to determine the financial
viability of the organisation:
⮚ Cash flow: identifying net cash turnovers and also o understand the
usage of cash in every activity like the financial, operating and the
investment
⮚ Changes in business activity, including markets, goods or services
traded: for including variations and new items to the market and
customers for maximising profits. With new changes in the business
work operation one can justify the immense fluidity in choosing the
field of business
⮚ Consolidation: meeting financial goals and also to understand the exact
work capability in progress
⮚ Expenses and overheads: It helps in understanding the capability of an
organisation to incur more of expense and overhead justifying the
viabilityand growth in marketing.
⮚ Labour costs, including decisions to move production to other
locations or sites: Ithelps in understanding the ay a manager views its
options for expansion. This gives indication of its financial viability.
⮚ Write-offs: This helps in evaluating the efficiency a manager has and
the confidence that he or she has from the viability and the
performance of the company. Writing off aspects and values does allow
one to understand the capability to withstand loss and liability (Caselli
& Gatti, 2017)

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Activity 4C checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)

Page | 51
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Activity 4D
Estimated Time 25 Minutes
Objective To provide you with an opportunity to understand how toevaluate the
effectiveness of financial management processes.
Activity Outline here how you would evaluate the effectiveness of your organisation’s
financial management processes.
1. It is essential for the firm in order to evaluate and determine the
effectiveness of the organisational financial management processes in
order to identifyits strengths and weaknesses and adapt theprocesses
accordingly.
2. Evaluation may be undertaken as a matter of course,perhaps at the end
of the financial year or followinga major financial problem (Anderson,
2016)

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References
Anderson, J., (2016). Environmental finance. In Handbook of environmental and
sustainable finance (pp. 307-333). Academic Press.
Caselli, S. & Gatti, S. eds., (2017). Structured finance: Techniques, products and
market. Springer.
Cumming, D., Deloof, M., Manigart, S. & Wright, M., (2019). New directions in
entrepreneurial finance. Journal of Banking & Finance, 100, pp.252-
260.
DeYoung, R. & Jang, K.Y., (2016). Do banks actively manage their
liquidity?. Journal of Banking & Finance, 66, pp.143-161.
Epstein, G.A. ed., (2018). The Political Economy of International Finance in an
Age of Inequality: Soft Currencies, Hard Landings. Edward Elgar
Publishing.
Gitman, L.J., Juchau, R. & Flanagan, J., (2015). Principles of managerial finance.
Pearson Higher Education AU.
Jakob, M., Steckel, J.C., Flachsland, C. &Baumstark, L., (2015). Climate finance
for developing country mitigation: blessing or curse?. Climate and
Development, 7(1), pp.1-15.
James, D., (2017). What lies beneath the finance industry's water words. Eureka
Street, 27(11), p.47.
Maxwell, D., (2017). Valuing Natural Capital: Future Proofing Business and
Finance. Routledge.
McGovern, M., (2019). Awaiting Hayne: Full report sure to shake finance
sector. News Weekly, (3036), p.10.
Minsky, H., (2016). Can" it" happen again?: essays on instability and finance.
Routledge.
Sassen, S., (2017). Finance and business services in New York City: international
linkages and domestic effects. In Deindustrialization and Regional
Economic Transformation(pp. 132-290). Routledge.
Schwartz, H.M., (2017). W. Travis Selmier II and W. Kindred Winecoff Re-
conceptualizing the political economy of finance in the post-crisis era

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167. Business and Politics, 19(2).
Zhu, S.P. &Novikov, A., (2016). STOCHASTIC AND COMPUTATIONAL METHODS
IN FINANCE. The ANZIAM Journal, 57(3), pp.205-206.
Activity 4D checklist – for assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the unit activity. Indicate in the table below if the learner is deemed
satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.

Page | 54
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature
Assessor’s signature
Summative Assessments
The summative assessments are the major activities designed to assess your skills, knowledge and
performance, as required to show competency in this unit. These activities should be completed

Page | 55
after finishing the Learner Guide. You should complete these as stated below and as instructed by
your trainer/assessor.
Skills, knowledge and performance may be termed as:
⮚ Skills – skill requirements, required skills, essential skills, foundation skills
⮚ Knowledge – knowledge requirements, required knowledge, essential knowledge,
knowledge evidence
⮚ Performance – evidence requirements, critical aspects of assessment, performance
evidence.
Section A: Skills Activity
The Skills Activity is designed to be a series of demonstrative tasks that should be assessed by
observation (by the assessor or third party, depending on the circumstances).
It will demonstrate all of the skills required for this unit of competency – your assessor will provide
further instructions to you, if necessary.
Section B: Knowledge Activity (Q & A)
The Knowledge Activity is designed to be a verbal questionnaire where the assessor asks you a series
of questions to confirm your competency for all of the required knowledge in the unit of
competency.
Section C: Performance Activity
The Performance Activity is designed to be a practical activity performed either in the workplace or a
simulated environment. You should demonstrate the required practical tasks for the unit of
competency and be observed by the assessor and/or third party, as applicable to the situation. If the
third party is required to observe you, you will need to make the required arrangements with them.
If necessary for the activities, you should attach completed written answers, portfolios or any
evidence of competency to this workbook.

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Section A: Skills Activity
Objective: To provide you with an opportunity to show you have the required skills for this unit.
A signed observation by either an approved third party or the assessor will need to be included in
this activity as proof of completion.
This activity will enable you to demonstrate the following skills:
⮚ Reading
⮚ Writing
⮚ Oral Communication
⮚ Numeracy
⮚ Navigate the world of work
⮚ Interact with others
⮚ Get the work done
Answer the activity in as much detail as possible, considering your organisational requirements.
1. Evaluate whether your organisation is adhering to legislative requirements. What proof can
you find to suggest they are or are not meeting legislative needs?
2. Create a document which provides an analysis of factual and forecasted information. Your
document should be prepared using the format, content and layout most appropriate to the
audience and purpose of the document.
3. Demonstrate your oral communication skills by explaining financial decisions and outcomes
clearly and using listening and questioning techniques to exchange information and obtain
agreement. For example, you may host a meeting, talk via a video conference or have a one-
to-one discussion with someone.
4. Describe a time when you have used your numerical skills. Provide details of the calculations,
to show how you have either:
⮚ Reviewed and analysed numerical data embedded in organisational documentation and
legislation; or
⮚ Compared and contrasted complex numerical data to analyse and evaluate financial
position and processes; or
⮚ Used appropriate formulae to analyse financial data to assess and manage risk and
identify discrepancies.
5. Outline a task you have completed (which is part of your work role) where you have
recognised, understood and adhered to legislative and organisational requirements.

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6. Describe a protocol which is in place in your organisation (and you have used), to
communicate with supervisors and managers to share information or seek agreement.
7. Give a demonstration to a supervisor or assessor on how to use a range of digital technology
to access, filter, compile, integrate and logically present complex information from multiple
sources. What new digital technologies and applications are available (or soon to be available)
to manage and manipulate data?

Page | 58
Summative Assessments: Section A checklist
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the summative assessment. Indicate in the table below if the learner is
deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature

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Assessor’s signature
Section B: Knowledge Activity (Q & A)
Objective: To provide you with an opportunity to show you have the required knowledge for this
unit.
The answers to the following questions will enable you to demonstrate your knowledge of:
⮚ Identify the requirements for financial probity
⮚ Describe the principles of accounting and financial systems
⮚ Explain Australian, international and local legislation and conventions that are relevant to
financial management in the organisation
⮚ Outline the requirements of the Australian Tax Office, including Goods and Services Tax,
Company Tax, Pay As You Go
Answer each question in as much detail as possible, considering your organisational requirements
for each one.
1. What is financial probity?
2. Describe three principles of accounting and financial systems.
3. Explain one piece national piece of legislation and one local piece of legislation which is
relevant to financial management in the organisation. Additional research may be needed for
this question.
4. Outline the requirements of Goods and Services Tax, Company Tax and Pay As You Go.

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Summative Assessments: Section B checklist
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the summative assessment. Indicate in the table below if the learner is
deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature

Page | 61
Assessor’s signature
Section C: Performance Activity
Objective: To provide you with an opportunity to demonstrate the required performance
elements for this unit.
A signed observation by either an approved third party or the assessor will need to be included in
this activity as proof of completion.
This activity will enable you to demonstrate the following performance evidence:
⮚ Plan for financial management
⮚ Read and review profit and loss statements, cash flows and ageing summaries
⮚ Prepare, implement and revise a budget which aligns with the business plan, is based on
research and analysis of previous financial data and cash flow trends, and meets all
compliance requirements
⮚ Contribute to financial bids and estimates
⮚ Establish a budget and allocate funds in accordance with statutory and organisational
requirements
⮚ Communicate with other people including:
o reporting on financial activity and making recommendations
o identifying and prioritising significant issues
o ensuring managers and supervisors are clear about budgets
⮚ Analyse the effectiveness of existing financial management approaches including reviewing
financial management software, managing risks of misappropriation of funds, ensuring
systems are in place to record all transactions, maintaining an audit trail and complying with
due diligence.
Answer the activity in as much detail as possible, considering your organisational requirements.
1. Plan for financial management by reviewing previous financial data and analysing areas of
profit and loss.
2. Prepare, implement and revise a budget which aligns with the business plan, is based on
research and analysis of previous financial data and cash flow trends, and meets all
compliance requirements.
3. Describe how you have contributed to financial bids and estimates.
4. Establish a budget and allocate funds in accordance with statutory and organisational
requirements
5. Use your communication skills to:
⮚ Report on financial activity and make recommendations

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⮚ identify and prioritise significant issues
⮚ ensure managers and supervisors are clear about budgets
6. Analyse the effectiveness of existing financial management approaches including reviewing
financial management software, managing risks of misappropriation of funds, ensuring
systems are in place to record all transactions, maintaining an audit trail and complying with
due diligence.

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Summative Assessments: Section C checklist
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the summative assessment. Indicate in the table below if the learner is
deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the activity been answered and performed fully, as required to assess the
competency of the learner?
Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner for the
activity?
Yes No
(Please circle)
Comments
Provide your comments here:
The learner’s
performance was: Not yet satisfactory Satisfactory
If not yet satisfactory, date for reassessment:
Feedback to learner:
Learner’s signature

Page | 64
Assessor’s signature
Workplace Documentation – for learner
Workplace documents checklist
To demonstrate and support workplace knowledge, workplace documents can be submitted to the
assessor or third party. Indicate in the table below the documents that have been provided. Please
refer to your trainer/assessor if clarification is required or if you have any further questions on what
you are able to provide or use.
Document name/description Document attached
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
Yes No (Please circle)
For RTO use only
Have originals or digital copies been supplied for the workplace
documents?
Yes No (Please circle)
If not originals, have the originals been validated or checked? Yes No (Please circle)
Learner’s signature

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Assessor’s signature
Supplementary Oral Questions (optional) – for assessor
The below table is for you to document any supplementary verbal questions you have asked the
learner to determine their competency. For example, if you are unsure of their answer to a question
in the Learner Workbook, you may choose to ask them a supplementary question to clarify their
understanding of the relevant criteria.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date of assessment
Question:
Learner answer:
Assessor judgement: Satisfactory Not Satisfactory
Question:
Learner answer:

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Assessor judgement: Satisfactory Not Satisfactory

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Question:
Learner answer:
Assessor judgement: Satisfactory Not Satisfactory
Question:
Learner answer:
Assessor judgement: Satisfactory Not Satisfactory
Question:
Learner answer:
Assessor judgement: Satisfactory Not Satisfactory

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Feedback for the learner
I have read, understood, and am satisfied with the feedback provided by the assessor.
Learner’s name
Learner’s signature
Assessor’s name
Assessor’s signature

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Competency record to be completed by assessor
This should be used by the trainer/assessor to document the learner’s skills, knowledge and
performance as relevant to the overall unit. Indicate in the table below if the learner is deemed
competent or not yet competent for the unit or if reassessment is required.
Learner’s name
Assessor’s name
Unit of Competence
(Code and Title)
Date(s) of assessment
Has the learner completed all required assessments to a satisfactory standard? Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner to prove
their competency across the entire unit?
Yes No
(Please circle)
The learner has been assessed as competent in the elements and performance criteria and the
evidence has been presented as:
Authentic Yes No
(Please circle)
Valid Yes No
(Please circle)
Reliable Yes No
(Please circle)
Current Yes No
(Please circle)
Sufficient Yes No
(Please circle)

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Learner is deemed: Not yet competent Competent
If not yet competent, date for re-assessment:
Comments from trainer/assessor:
Learner’s signature
Assessor’s signature