Assessment Plan and Instructions for BSBFIA301 Unit - IVET College

This document presents a detailed assessment plan for the BSBFIA301 unit, focusing on maintaining financial records. It includes an assessment plan outlining the purpose, target group, context, and personnel involved in the assessment process. The plan details various assessment methods, in...Read More

Running head:
Name of the Student
Name of the University
Author Note

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Step 1 - Assessment Plan
ASSESSMENT PLAN
Unit name and code BSBFIA301 Maintain financial records
Purpose of the assessment This unit describes the skills and knowledge required to
maintain daily financial records such as reconciling debtors’
and creditors’ systems, preparing and maintaining a general
ledger and trial balance and includes activities associated with
monitoring cash control for accounting purposes.
It applies to individuals who are skilled operators and
apply a broad range of competencies in various work
contexts and may exercise discretion and judgment using
appropriate theoretical knowledge of financial records.
Target group VET Students completing a course that this unit is part of
Context of assessment Training and Assessment Environment
Written and practical components assessment classroom
based
Specific needs of the cohort/individual
being assessed
All students completed an LLN prior to their enrolment
Any other special needs will be assisted as required

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Personnel involved in the assessment
process?
Assessment information and evidence requirements
Assessment methods
Assessment instruments required
for each method
Unit requirements
this meets (PC1.2,
PE2, KE4 etc.)
1 Written test
Written questions
Instructions for candidate
Marking guide for assessor
See mapping at end
of document
2
Practical Tasks
Instructions
Company Policy & Procedures
Observation Check list
See mapping at end
of document
3 Group Discussion/Question Discussion/Question Guideline for
the assessor
Observation Checklist
See mapping at end
of document
Resources
Specialist support (if applicable/required) Integration Aids are available if required

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Any tools or equipment required for
assessment
Desk, chair, computer
Any materials required for assessment Company policy and procedures folder
Any other resources required for
assessment (for example, supporting
documentation)
Computer manual
Any human resources required for
assessment (for example, other workplace
personnel, clients/customers etc.)
Not required for this unit
Assessment arrangements
Timeline for assessment – when will each
item be assessed?
All 3 assessments will be completed within the delivery
of the unit
How long will be given to each
assessment?
Written Assessment 30 mins
Practical Assessment 1 hour
Group Discussion 30 mins
Is integration of activities possible? The group discussion will lead into the practical
assessment
Assessment arrangements continued

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Work health and safety issues that may
impact on assessment activities being
conducted
No obvious health and safety issues are foreseen for this
assessment plan. It is expected that students will have a
safe environment at all times.
A sight safety assessment will be made as part of the
group discussion assessment
Privacy/confidentiality issues that may
impact on assessment activities/portfolios
submitted
None at this stage as they will be handed to the assessor
directly
Any other issues that may impact on
assessment activities (for example,
sustainability)?
The practical assessment will be rescheduled if there is
power shortage
Any reasonable adjustments identified? Students may need additional time for assessments and
this is available if required
Where will assessment outcomes be
recorded?
A student record summary is used for recording all
outcomes and any feedback. A copy of this will be
emailed to all student
Date of each assessment to be
submitted/conducted
All assessments are to be submitted and conducted with
the time allocated for the unit

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Step 2 - Assessment Instructions and Instruments
ASSESSMENT TASK INSTRUCTIONS
Unit code and title BSBFIA301 Maintain financial records
Workplace/Location Classroom
Purpose of assessment This unit describes the It applies to individuals who are skilled operators
and apply a broad range of competencies in various work contexts and
may exercise discretion and judgment using appropriate theoretical
knowledge of financial records.
Context of assessment Training and Assessment Environment
Written, Oral and Practical components assessment, classroom based
Resources required for
assessment
Assessment Task 1
PC and Microsoft Office
Login details for IVET student portal
Pen or Paper
Assessment Task 2
PC and Microsoft Office
Login details for IVET student portal

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ASSESSMENT TASK INSTRUCTIONS
Pen or Paper
Safety considerations it is crucial for students to work within a classroom setting as well as
under supervision the entire time
Students should be monitored by the trainer during their working process
Instructions to the
candidate:
Assessment 1:
In the assignment 1, students are needed to go through all the questions
provided by the educator and answer the same correctly.
The assignment has been designed for skills and knowledge required to
maintain daily financial records such as reconciling debtors’ and
creditors’ systems, preparing and maintaining a general ledger and trial
balance and includes activities associated with monitoring cash control for
accounting purposes.
Required recourses:
PC and Microsoft Office
Login details for IVET student portal

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ASSESSMENT TASK INSTRUCTIONS
Pen or Paper
Assessment Task 2
In this assessment students are required to conduct a role play. One
employee will play the role of an charter accountant and will discuss with
his colleagues about financial terms. Employees will help each other to
understand specific accounting terms like breakeven analysis, cost flow an
types of budget.
Resources required:
 PC and Microsoft Office
 Student network on PC
 Tables and chairs
 Room with PC facilities
 Internet access
 Access to finantial documents
 Industry codes of practice
Conditions of Assessment
 Students must attempt all parts of each assessment task.
 For students’ performance to be deemed satisfactory in this
assessment task, they must satisfactorily address all the assessment
criteria. If part of this task is not satisfactorily completed students
will be asked to complete further assessment to demonstrate
competence.
 Students will be provided feedback on their performance by their
Assessor. The feedback will indicate if they have satisfactorily
addressed the requirements of each task or indicate the task(s) not
satisfactorily addressed and indicate what tasks they must re-
attempt at a later date to demonstrate satisfactory performance.

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ASSESSMENT TASK INSTRUCTIONS
What needs to be
submitted?
Assessment task 1
Responses to written questions
Assessment task 2
Students are required to conduct a role platy and write down the
importance of the following financial terms
breakeven analysis
cost flow
Types of budget
Resubmission For students whose performance is not satisfactory will be provided with
another chance of submitting their assignment. This time they will have to
correct the portions where they had gone wrong previously
Reasonable adjustments
(assessor to indicate
possible adjustments):
Students are encouraged to contact their trainer prior to attempting their
task in case they do not understand any part of this task or if they have
any learning issues/ needs that may hinder them when attempting any part
of the assessment.

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ASSESSMENT TASK INSTRUCTIONS
Assessor name Date
Assessor signature
Role Play/Scenario/Observation Task Template
ROLE PLAY / SCENARIO/OBSERVATION TASK
Instructions to the candidate:
In the assignment 1, students are needed to go through all the questions provided by the educator and
answer the same correctly.
The assignment has been designed for skills and knowledge required to maintain daily financial records
such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general ledger and trial
balance and includes activities associated with monitoring cash control for accounting purposes.
Required recourses:
PC and Microsoft Office
Login details for IVET student portal
Pen or Paper
For assignment task 1, students have to answer the question provided by the assessor.
Assessment Task 2
In this assessment students are required to conduct a role play. One employee will play the role of an
charter accountant and will discuss with his colleagues about financial terms. Employees will help each

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other to understand specific accounting terms like breakeven analysis, cost flow an types of budget.
Resources required:
 PC and Microsoft Office
 Student network on PC
 Tables and chairs
 Room with PC facilities
 Internet access
 Access to finantial documents
 Industry codes of practice
Conditions of Assessment
 Students must attempt all parts of each assessment task.
 For students’ performance to be deemed satisfactory in this assessment task, they must
satisfactorily address all the assessment criteria. If part of this task is not satisfactorily completed
students will be asked to complete further assessment to demonstrate competence.
 Students will be provided feedback on their performance by their Assessor. The feedback will
indicate if they have satisfactorily addressed the requirements of each task or indicate the task(s)
not satisfactorily addressed and indicate what tasks they must re-attempt at a later date to
demonstrate satisfactory performance.

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ROLE PLAY / SCENARIO/ OBSERVATION TASK CHECKLIST
Did the candidate: Yes No N/A Comments
1
The students have completed the
practical task as well as
demonstrate the ability to integrate
the skill requirement of this unit
2
The students undertook a risk
assessment for each actual hazard
you have identified (if any).
3
The student can implement safe
work practices and to achieve this
they can identify and report
incidents and injuries to designated
persons according to workplace
procedures.
4 The student can implement safe
work practices and to achieve this
they can take actions to maintain
safe housekeeping practices in

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own work area.
Reasonable adjustments
Candidates are encouraged to contact their trainer prior to attempting this task if they do not
understand any part of this task or if they have any learning issues/ needs that may hinder them
when attempting any part of the assessment.
Student name Date
Assessor name Date
Assessor
signature
Task outcome  Satisfactory  Not satisfactory
Role Play/Scenario/Observation Task Assessor Template
ROLE PLAY / SCENARIO/OBSERVATION TASK ASSESSOR GUIDE
Instructions to the assessor:
All assessors are expected to have read and follow the trainer and assessors’ handbook
regarding all assessment task. This handbook outlines in detail:
 Assessor Instructions – pre – assessment
 Assessor Instructions – during assessment
 Assessor Instructions – post assessment

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 Guidelines for completing assessment tasks using simulated workplace environment/s
 Students with specific learning needs
Role-play/Scenario/Observation task details:
In the assignment 1, students are needed to go through all the questions provided by the
educator and answer the same correctly.
The assignment has been designed for skills and knowledge required to maintain daily financial
records such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general
ledger and trial balance and includes activities associated with monitoring cash control for
accounting purposes.

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ROLE PLAY / SCENARIO/ OBSERVATION TASK CHECKLIST- ASSESSOR
MARKING GUIDE
Did the candidate: Yes No N/A Comments
1 The students have completed the
practical task as well as
demonstrate the ability to integrate

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the skill requirement of this unit
2
The students undertook a risk
assessment for each actual hazard
you have identified (if any).
3
The student can implement safe
work practices and to achieve this
they can identify and report
incidents and injuries to designated
persons according to workplace
procedures.
4
The student can implement safe
work practices and to achieve this
they can take actions to maintain
safe housekeeping practices in
own work area.
Reasonable adjustments
Candidates are encouraged to contact their trainer prior to attempting this task if they do not
understand any part of this task or if they have any learning issues/ needs that may hinder them
when attempting any part of the assessment.
Student name Date

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Assessor name Date
Assessor signature
Task outcome  Satisfactory  Not satisfactory

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Written Questions Template
Written questions
In the assignment 1, students are needed to go through all the questions provided by the educator and
answer the same correctly.
The assignment has been designed for skills and knowledge required to maintain daily financial records
such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general ledger and trial
balance and includes activities associated with monitoring cash control for accounting purposes.
Required recourses:
PC and Microsoft Office
Login details for IVET student portal
Pen or Paper
For assignment task 1, students have to answer the question provided by the assessor.
Question 1

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What do you mean by break even analysis?
 Satisfactory  Not satisfactory
Question 2
What do you mean by cost flow analysis?
 Satisfactory  Not satisfactory
Question 3
What are the types of budget ?
 Satisfactory  Not satisfactory
Question 4
Why is the importance of keeping financial record in business?
 Satisfactory  Not satisfactory

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Written Questions Assessor Template
Written questions – ASSESSOR GUIDE
In the assignment 1, students are needed to go through all the questions provided by the educator and
answer the same correctly.
The assignment has been designed for skills and knowledge required to maintain daily financial records
such as reconciling debtors’ and creditors’ systems, preparing and maintaining a general ledger and trial
balance and includes activities associated with monitoring cash control for accounting purposes.
Required recourses:
PC and Microsoft Office
Login details for IVET student portal
Pen or Paper
For assignment task 1, students have to answer the question provided by the assessor.
Conditions of Assessment
 Students must attempt all parts of each assessment task.
 For students’ performance to be deemed satisfactory in this assessment task, they must
satisfactorily address all the assessment criteria. If part of this task is not satisfactorily completed
students will be asked to complete further assessment to demonstrate competence.
 Students will be provided feedback on their performance by their Assessor. The feedback will
indicate if they have satisfactorily addressed the requirements of each task or indicate the task(s)
not satisfactorily addressed and indicate what tasks they must re-attempt at a later date to

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demonstrate satisfactory performance.
Question 1
What do you mean by break even analysis?
A break-even analysis is a useful tool for determining at what point of an organization, or a new
product or service, will be profitable. It is a technique widely used by production management and
management accountants.
 Satisfactory  Not satisfactory
Question 2
What do you mean by cost flow analysis?
Cash flow analysis can be defined as the analysis of the cash inflows and outflows of the organization
during a specific period. The analysis initiates with a starting balance along with generating an ending
balance afteraccounting for all cash receipts and paid expenses during the period.
 Satisfactory  Not satisfactory
Question 3
What are the types of budget ?

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The chief types of budget includes master budget, Operating Budget, Cash Flow Budget, Financial Budget
and Static Budget.
 Satisfactory  Not satisfactory
Question 4
Why is the importance of keeping financial record in business?
The chief importance of an effective financial records is that it is are essential for reporting income tax
returns.
 Satisfactory  Not satisfactory

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Assessment Quality Review Checklist
The following document is to be used by you to review your own assessment questions. Please
complete all areas.
ASSESSMENT QUALITY REVIEW CHECKLIST
Unit reviewed: BSBFIA301 Maintain financial records
List all documents that are to be reviewed as part of this process
Assessment plan
Role Play with observation checklist (students and assessor instructions)
Written Questions (students and assessor instructions)
Review Question Y/N/NA Comments and suggestions
a) The unit of competency is sufficiently addressed
including:
 performance criteria
 performance evidence
 knowledge evidence
 assessment conditions
Y
Mapping clearly shows how each task relates to unit
requirements
Y

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ASSESSMENT QUALITY REVIEW CHECKLIST
The assessment instructions for the student are:
 written in plain English and are
clear and easy to follow
 when and how the tasks are to be
completed
 under what conditions
 resources required
 and the criteria against which
students will be assessed
Y
The guidance to assessors is clear and easy to follow Y NA
The assessment methods and arrangements used
match all details provided in the Assessment Plan
Y Practical and Written
A range of assessment methods are used and they are
suitable to the intended outcomes of the unit.
Y Practical Observation with checklist
The tasks ensure appropriate assessment of practical
skills
NA NA

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ASSESSMENT QUALITY REVIEW CHECKLIST
Third party reports, where applicable, are:
 written in plain English so that the
third party can clearly understand
what they are being asked
 only relied upon as supplementary
and not primary evidence
Y
Principles of assessment and rules of evidence have
been considered
Y
Assessment tasks appropriately reflect industry
expectations and current workplace practices
Y
The assessments allow for collection of sufficient
quality and quantity of evidence
Y
Assessment record tools:
 are easy to use
 ensure the requirements of each
task can be checked and recorded
 allow the recording of an outcome
Y

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ASSESSMENT QUALITY REVIEW CHECKLIST
at task level (S/NS)
 allow the recording of an overall
outcome for the whole unit
(C/NYC)
The assessments ensure:
 competency is assessed over a
period of time and in a range of
contexts and;
 there are clear instructions
detailing when and where
assessments are to be conducted
The assessment tools allow for collection of
sufficient quality and quantity of evidence
The assessments can be adapted to suit individual
needs of the student and workplace as required and
provisions for reasonable adjustment can be made
(where required)
The tools ensure that the assessor will know that the
assessment is based on the student’s own work

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ASSESSMENT QUALITY REVIEW CHECKLIST
Reviewer
signature:
Reviewer name: Date:
Improvements/Actions to be taken
Management to complete this section
Action Due date Responsibility Completed (Date)
None at this stage None at this stage None at this
stage
None at this stage

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Step 4 - Trialling assessment tools
You are required to engage relevant personnel to trial and review your assessment tool. This
should be another TAE qualified staff member or a colleague who has knowledge in the
vocational area of the unit chosen.
Have them review all of the assessment instruments in the tool to validate the content and
applicability (you could ask them to complete the review checklist from above and/or to
complete the tool as a student would to test usability)
Document the feedback you have received relating to the trial and review conducted. You can
summarise the feedback in the box below or screenshot evidence of feedback received (i.e.) their
email response.
Comments:
David Johnson who is an employee in the account department, had undergone the test.
He felt that the assessment instruments were well set out and the assessor information was very
detailed providing sufficient assistance to the assessor in conjunction with the assessor handbook.
Amended assessment plans

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If the assessment plan was amended based on feedback received, please specify into the
following space the specific changes that were made.
If no changes were required based on feedback from your colleague, please state “no changes
were required.”.
Wording for types of written questions was corrected