BSBFIN501 Manage Budgets and Financial Plans Assessment Tasks

BSBFIN501 Manage Budgets
and Financial Plans
Assessment Tasks

Contents
Introduction........................................................................................................................................ 3
Assessment Task 1: Knowledge questions.......................................................................................4
Assessment Task 1: Checklist........................................................................................................... 9
Assessment Task 2: Project Portfolio..............................................................................................11
Assessment Task 2: Checklist......................................................................................................... 17
Final results record.......................................................................................................................... 20

Introduction
The assessment tasks for BSBFIN501 Manage budgets and financial plans are outlined in the
assessment plan below. These tasks have been designed to help you demonstrate the skills and
knowledge that you have learnt during your course.
Please ensure that you read the instructions provided with these tasks carefully. You should also
follow the advice provided in the Business Works Student User Guide. The Student User Guide
provides important information for you relating to completing assessment successfully.
Assessment for this unit
BSBFIN501 Manage budgets and financial plans describes the performance outcomes, skills and
knowledge required to undertake financial management in an organisation or work area. It includes
planning and implementing financial management approaches and supporting and evaluating
effectiveness of financial management processes.
For you to be assessed as competent, you must successfully complete two assessment tasks:
 Assessment Task 1: Knowledge questions – You must answer all questions correctly.
 Assessment Task 2: Project – You must work through a range of activities and complete a
project portfolio.

Assessment Task 1: Knowledge questions
Information for students
Knowledge questions are designed to help you demonstrate the knowledge which you have
acquired during the learning phase of this unit. Ensure that you:
 review the advice to students regarding answering knowledge questions in the Business
Works Student User Guide
 comply with the due date for assessment which your assessor will provide
 adhere with your RTO’s submission guidelines
 answer all questions completely and correctly
 submit work which is original and, where necessary, properly referenced
 submit a completed cover sheet with your work
avoid sharing your answers with other students.
Assessment information
Information about how you should complete this assessment can be found in Appendix
A of the Business Works Student User Guide.Refer to the appendix for information on:
 where this task should be completed
 the maximum time allowed for completing this assessment task
 whether or not this task is open-book.
Note: You must complete and submit an assessment cover sheet with your work. A
template is provided in Appendix C of the Student User Guide. However, if your RTO
has provided you with an assessment cover sheet, please ensure that you use that.