Assignment - Financial Management
Added on 2020-02-12
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TUTORIALACTIVITY WORKBOOKWORKBOOK 2 FINANCIAL MANAGEMENTNo part of this workbook may be reproduced by photocopying or any other means without written permission from theAustralasian Academy of Cosmetic Dermal Science.
AACDS WORKBOOK COVERSHEETPlease submit to your AACDS lecturer.Student’s NameUnit 1.4 Practice Management and Administration Course(Please select)10510NATAdvanced Diploma of Cosmetic Dermal Science 52709WAGraduate Diploma of Cosmetic Nursing 52707WAGraduate Diploma of Dermal Therapies 51107WADiploma of Management (Medispa Practice)AACDS ASSESSMENT POLICYAssessments Marked “Competent” or “Not Yet Competent”:1.Must be completed by the due date specified in the student manual for each correspondingunit.2.If a student fails to meet the due date as specified, this may incur additional fees to extend unit access. 3.If a student consistently achieves “Not Yet Competent” and demonstrates poor performance in all assessments, AACDS reserves the right to terminate the student’s enrolment for the corresponding unit.Graded Assessments/Exams: 1.Must be completed by the due date specified in the student manual for each corresponding unit.2.A student will have the opportunity to resit a failed assessment, however on the second attempt the pass mark will increase by 10%.3.If a student fails on the second attempt, the student must re-enrol into the failed unit at the current full-feeGRADE (IFAPPLICABLE):Not Yet Competent Please Resubmit this Assessment by: 29th March 2017 ASSESSMENT FEEDBACKFROM LECTURER:Great start Nicole and excellent job so far, there are quite a few Activities to re-visit please. My comments will hopefully help you to ace the next round. Please contact me if you don’t understand, especially on the Cash Book, GST and BAS. Your explanations from Activity 22 onwards with your formulas show a great understanding of financials. Well Done!
COMPLETIONOFALLTUTORIALACTIVITIES: Yes NoRECOMMENDATIONTOSITFINALEXAMYes NoASSESSOR’S SIGNATURE: Oliver BeckDATE:22 March 2017
ACTIVITY13RESOURCE LISTStudents need to consider a detailed costing of all the equipment and resources (machinery,furniture, equipment including stock) that their virtual medispa will need to acquire to operate.It is recommended that students obtain real world quotes to ensure their resource list is asaccurate as possible in its reflection of resource costs. YesAssessor’s comments Correct, greatVersion 2.0 4
ACTIVITY 14.ONGOING COSTSIn activity 14 students are asked to consider when further assets (resources, equipment, andmachinery, not including stock) will need to be introduced (for expansion purposes) or replaced -estimate what the relevant replacement/additional costs will be over three years. Consider alsomaintenance costs and consumables. It is again recommended that students obtain as many realworld quotes as possible to ensure their resource additions/replacement list is as accurate aspossible in its reflection of resource costs. YesScheduleofassets to be purchasedover the next threeyearsNew computer2000New computer0New computerService IPL Machine300Service IPL Machine300Service IPL MachineNew Towels100New Towels100New TowelsWood lamp1089Wood lamp0Wood lampReception desk689Reception desk0Reception deskSalon bed500Salon bed0Salon bedAssessor’s comments Correct, greatVersion 2.0 5
ACTIVITY 15 TO 19 BASIC BOOKKEEPINGStudents are asked to complete basic book-keeping activities. Though the exercises are simple, to achieve competency students are required to demand accuracy, which is the main outcome the task seeks to test. As in any accounting activity if any items are not accounted for appropriately errors will occur that can be costly and time consuming to resolve. You will need to embellish details as you see fit e.g. get cheque details from bank statements. ACTIVITY 15PETTY CASHQuestion 1 YesComplete the Petty Cash Worksheet below Instructions:You have a $100 float in your petty cash tin. Use the purchases listed below to reconcile your petty cash.Petty Cash Book March110475Assessor’s comments Correct, great
Question 2 YesA cheque is then written out to bring the petty cash float back up to $100.00. How much will this cheque be written out for? Bank of Western AustraliaDate:19-Dec-16Pay: Nicole's beauty salonor bearerAmount: twenty nine dollars and seventy cents$ 29.70Signature:nicole oxladeChq No. 000 108Assessor’s comments Correct
ACTIVITY 16MANAGING FINANCES IQuestion 1 YesSample Cheque Book: Complete each cheque in full. Make the cheques out for the following:•Rent $1000.00•Insurance$542.26•Wages$760.22Bank of Western AustraliaBank of Western AustraliaDate: 15-Mar-13Date:15-Mar-13Details: Rent PaymentPay: Landlordor bearerAmount: one thousand dollars only$ 1000$ 1000Signature:NIcole OxladeChq No. 000 110Chq No. 000 110Bank of Western AustraliaBank of Western AustraliaDate: 18-Mar-13Date:18-Mar-13Details: Insurance paymentPay: Insurance paymentor bearerAmount: five hundred and forty two dollars and twenty six cents$ 542.26$ 542Signature:Nicole Oxlade
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