BSBRKG304 Assessment 1: Managing Business Records and Information

This document presents a student's solution to the BSBRKG304 Assessment 1, focusing on a case study involving Evansdale Realty and the acquisition of new residential management records. The assignment addresses key aspects of business record management, including identifying essential re...Read More

BSBRKG304: Assessment 1
STUDENT NAME OTEN NUMBER
What you have to do
To successfully complete this assessment, you must complete the following tasks. You will
be granted a result of “Satisfactory” if the learning outcomes are achieved or “Not
Satisfactory” if not. If a result of “Not Satisfactory” is achieved, you will be given the
opportunity to revise and resubmit your submission.
Case study
Evansdale Realty has just received all of the records for 53 new residential managements
that they have purchased (rent roll) from a nearby Real Estate agency.
Evansdale Realty has received ten (10) boxes full of paper records for this rent roll. It is
essential that Evansdale Realty has received all the records relating to each new rental
property acquired for management. Missing, incomplete or out of date records could lead
to wrong decisions or conclusions, not to mention potential legal liability, or breach of the
law.
Ethan has been given the task of going through the boxes, identifying the records and
checking that all the relevant information has been received from the previous agent. He
has also been given the task to sort, file and store these records.
Ethan has consulted the relevant legislation for his state and identified what records he
should have in the boxes for each new management.
Your Tasks
If you were Ethan, discuss the action that you would take, relating to the above Case Study,
by answering all the following questions and given tasks.
Collate business records
Question 1
Identify the records that Ethan should have found in the files. Take into account what must legally be
held, as well as those records Evansdale Realty maintains for clients. Briefly discuss the ideal status
that the records should be in, to meet legal obligations: –
e.g. building insurance current and up-to-date.
 Building insurance current and up-to-date is the first record which Ethan should record

 Lease and licence is next record in which Ethan should remind with regards to any updates
 All the deeds are also recorded by Ethan in which he has to make sure that all the legal
requirement are done properly.
 Fees with regards to buy any building is another record (Vatsalan and et.al., 2017).
 Mortgage is another document which should be recoded under real estate agency
 Foreclosure is next type which must be filed under the industry
 Estoppels and easement is another documents which need to be complied.
Question 2
Discuss how Ethan should sort and store these records, in accordance to Evansdale Realty office
needs.
 In order to sorting the files as they belongs to different clients, it is suggested to Ethan to
create file categories and put all the documents into them by naming them as well.
 To store the document properly, it is also recommended to use a color coding system in
which files are organize in better manner with a great access. Also, to store document, Ethan
may also develop a sub categories under categories in accordance to Evansdale Reality Office.
Question 3
What security methods could you suggest to restrict access to files on a computer?
 Develop a strong password is the best method that helps to protect to take access of files on
a computer. As company has its own sensitive data and to restrict the access, it is essential for
verify the software security (Steeg and et.al., 2018).
 Installing security patches is another security method that helps Ethan to restrict the access.
Also, this helps to protect a system from any updates and also ensure security and protection
for company’s confidential data.
Question 4
Name two disadvantages of allowing all staff to access electronic records.
Electronic records are assist staff member to protect their data from third party. Hence, this
in turn improve the number of ways to store the document in better manner.
 Potential privacy and security issues are consider one of the biggest cons for staff because
company uses electronic records in order to protect data. Thus, this system are vulnerable to
hacking and if the data are hacked by someone else then it lead to negative results.
 Inaccurate information is another disadvantage of access electronic records. So, the failure
to do so could mean other providers will rely on inaccurate data while determining the
appropriate data.
2 LA022583 Assessment 1, Unit code BSBRKG304, Ed 1
© New South Wales Technical and Further Education Commission, 2017 (TAFE NSW), Archive version 1, September 2017

Update business records system
Question 5
Identify a good way to record and control information for new files in the office system when you get
new properties
Microsoft SharePoint is the newly design software that is used by the real estate in order to
record and control information for new files in the office system while get new properties. Hence,
this method will assist the company to improve the overall performance.
Question 6
When staff remove a file from the filing cabinet, it is advisable that there is a log of the file
movement, if so why is this important within a business?
With the help of log of the file, which is a computer generated data file that contain
information about usage pattern, activities and operations within operating system. With the help of
this system, operator may regain the file and this in turn assist to loss any important data. Hence,
this in turn assist company to recollect the loss data whenever they need (Espinoza, Shah and
Raymond, 2020). Therefore, it is necessary to have log of the file movement which assist to get the
file again.
Question 7
After you have carried out an annual inspection of a property how would record and update
information in the office records system.
Record and information management system in turn is considered to be as one of the key
significant way to record as well as update the information within the office record system. It
mainly comprise of everything from creation of record to the disposal (Steeg, and et.al.,
2018). It is of crucial importance to identify the ley records which has been needed for the
documentation within the office record system. Office 365 record management update is
significant in updating the key information linked with the office record system. This way it
helps in keeping critical set of information and establish the key recordkeeping requirements
and procedures.
Question 8
An owner decides to move back into their home, what steps do you think you would take to remove
records of this property information from your office filing system?
Office filing system is considered to be as the specific set of the clearly defined practice
which helps in recording and keeping all the relevant set of information. It is important to
remove the paper clips and discard the duplicate documents linked with the property
information. Files in the archived must be effective removed from office filing system.
Checklist
I have:
 answered all questions in the space provided
 clearly identified my answers
If you are unable to complete this task for a specific reason, please contact your teacher to
discuss alternative arrangements for demonstrating your skills and knowledge.

4 LA022583 Assessment 1, Unit code BSBRKG304, Ed 1
© New South Wales Technical and Further Education Commission, 2017 (TAFE NSW), Archive version 1, September 2017

REFERNCES
Books and Journals
Vatsalan, D. and et.al., 2017. Privacy-preserving record linkage for big data: Current
approaches and research challenges. In Handbook of Big Data Technologies (pp. 851-
895). Springer, Cham.
Steeg, S. and et.al., 2018. Routine hospital management of self-harm and risk of further self-
harm: propensity score analysis using record-based cohort data. Psychological
medicine. 48(2). pp.315-326.
Espinoza, J., Shah, P. and Raymond, J., 2020. Integrating continuous glucose monitor data
directly into the electronic health record: proof of concept. Diabetes Technology and
Therapeutics, (ja).