Qualification Code/Title FNS40222- Certificate IV of Accounting and Book-Keeping
Assessment Details
Qualification Code/Title FNS40222- Certificate IV of Accounting and Book-Keeping
Assessment Type Assessment 2 Time allowed Due Date Location Term / Year Unit of Competency
National Code/Title FNSACC414 Prepare financial statements for non-reporting entities
Student Details
Student Name Student ID Student Declaration: I declare that the work submitted is my own and has not been copied or plagiarised from any person or source. Signature: ____________________________
Date: _____/_/_________
Assessor Details
Assessors Name RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
*If Student is Not Satisfactory
Reassessment Required Yes No Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Signature: ________________________
Date: ______/_______/___________
Comment: Instructions to the Candidates
This assessment is to be completed according to the instructions given below in this document.
Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
Please refer to the College re-submission and re-sit policy for more information.
If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately.
Please read the Tasks carefully then complete all Tasks.
To be deemed competent for this unit you must achieve a satisfactory result with tasks of this Assessment along with a satisfactory result for another Assessment.
This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor. Remember, that it must be your own work and if you use other sources then you must reference these appropriately
Submitted document must follow the given criteria. Font must be Times New Roman, Font size need to be 12, line spacing has to be Single line and Footer of submitted document must include Student ID, Student Name and Page Number. Document must be printed double sided.
This is Individual Assessments. Once you have completed the assessment, please provide the Hard copy of the Assessments to your Trainer/ Assessor.
Plagiarism is copying someone elses work and submitting it as your own. Any Plagiarism will result in a mark of Not Satisfactory. SCCM uses Safe Assign Plagiarism Checker to check the originality of the student assessment. Student must be aware of and understand the SCCMs policy on plagiarism and certify that this assignment is their own work, except where indicated by referencing, and that student have followed the good academic practices noted above.
Assessment InformationThe assessment tasks for FNSACC414 Prepare financial statements for non-reporting entitiesare included in this Student Assessment Tasks booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task Overview
1. Written questions You must correctly answer all questions.
2. Financial statements and report project You must develop financial statements and a report for a customer using data provided.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.
When you have read and understood this units assessment tasks, print out the Student Assessment Agreement.Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your RTOs assessment appeals process.
You have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Naming electronic documents
It is important that you name the documents that you create for this Assessment Task in a logical manner.
Each should include:
Course identification code
Assessment Task number
Document title (if appropriate)
Student name
Date it was created
For example, FNSACC414 AT2 Financial Report Joan Smith 20/10/18
Additional Resources
You will be provided with the following resources before you begin Assessment Task 2.
Andrews Slabs Transactions June
Andrews Slabs Transactions May
Andrews Slabs April Closing Balance
Bank Statements
Financial Policy and Procedures
Assessment InstructionsEach assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each tasks submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per
your RTOs re-assessment policy.
Depending on the task, this may include
resubmitting incorrect answers to questions (such as short answer questions and case studies)
resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
redoing a role play after being provided with appropriate feedback about your performance
being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time, after being provided with appropriate feedback.
Assessment Task Information
This gives you:
a summary of the assessment task
information on the resources to be used
submission requirements
re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each tasks instructions into a new document and use this as the basis for your assessment task submission. Include this documents header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification number, the task number, your name and the date.
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses.
Assessment Task 2: Financial statements and report projectTask summary
This assessment task requires you to read through the available data and prepare financial statements, and a report, on a case study companys financial viability.
This assessment is to be completed in the simulated work environment in the RTO.
Required
Access to textbooks/other learning materials
Computer withMicrosoft Office and internet access
Andrews Slabs Transactions June
Andrews Slabs Transactions May
Andrews Slabs April Closing Balance
Bank Statements
Financial Policy and Procedures
Timing
Your assessor will advise you of the due date of these submissions.
Submit
Email with Andrews Slabs Workbook attached.
Email with Andrews Slabs Revised Workbook and Financial Report attached.
Email with Andrews Slabs Revised Workbook attached.
Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed,you will be asked to complete further assessment to demonstrate competence.
Re-submission opportunities
You will be provided feedback on their performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
Assessment Task 2 InstructionsCarefully read the following:
That
Andrew has been buying and selling timber slabs for a year. He also buys old furniture, renovates it, and then resells it. He has also started repairing furniture for customers.
On the first of May, Andrews Slabs had the following assets:
Cheque account$19,783
Furniture and fittings$14,200
Motor vehicles$7,520
Office equipment & computers$4,750
Plant & equipment$4,050
An inventory count was performed on May 1 and found that Andrews Slabs had $127,540 of stock.
Andrews Slabs liabilities
Accounts payable$14,200
Andrew started the business with $45,000 savings and has $22,469 in retained earnings.
The business transactions are still recorded in a cash receipts book, but the transactions for May and June have been transferred to an Excel Workbook.
Andrew has modified a Financial Policy and Procedures from a company that he worked for previously and wants all financial undertakings to comply with this.
Andrew feels that the business is getting too big for him and wants to put it on the market. To that end, Andrew has asked you to read through the available data and prepare financial statements and a report on Andrews Slabs financial viability.
When your report has Andrews approval, you are to send a copy to George, a friend of Andrews, who is interested in buying the business.
Complete the following activities:
Create a new Excel Workbook for Andrews Slabs.
Review Andrews Slabs Financial Policy and Procedures to ensure compliance, then enter Andrews Slabs transaction details from Andrews Slabs Transactions May and June, and Andrews Slabs April Closing Balance, into the first four Worksheets in your new Workbook.
Reconcile all transactions with Bank Statements.
Use data from the scenario information above and the transactions to create a Worksheet for each of the following for the months of May and June:
Balance Sheet
Profit and Loss
Trial Balance
Cash Flow Statement
Save this file as Andrews Slabs Workbook.
Write an email to Andrew (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
The email text should also request clarification on any discrepancies that you found during your reconciliation.
It should summarise the contents of the attachment and give a short report (tree or four lines) on the liquidity, financial viability and profitability of Andrews Slabs as evidenced in the data that you have been given.
The email text should also ask Andrew for the place, date and time when they could have a meeting with you to discuss your Excel Workbook and report.
Attach your Andrews Slabs Workbook to the email.
Meet with Andrew (your assessor).
The objective of the meeting is to discuss your Andrews Slabs Workbook and report with Andrew.
At the meeting, you will be asked to:
Discuss the contents of the Excel Workbook that you have created, giving Andrew a good understanding of how his business is performing.
Discuss your report with Andrew. You may have to modify the report to reflect Andrews feedback at the meeting.
During the meeting, demonstrate effective communication skills including:
Using clear language and correct terminology
Using non-verbal communication to assist with understanding
Asking questions to identify required information
Responding to questions as required
Using active listening techniques to confirm understanding
Revise your Excel Workbook.
Update your Andrews Slabs Workbook to include Andrews requests from the meeting.
Save this file as Andrews Slabs Revised Workbook.
Update your report.
Revise your short report (tree or four lines) on the financial viability of Andrews Slabs that you included in the text of the email you sent to Andrew.
The changes should reflect any feedback that you received from Andrew at the meeting.
Create a new Word document for your report and save this document as Financial Report
Write an email to Andrew (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should summarise the contents of the attachment and seek Andrews approval for the Workbook and report to be sent to George.
Attach your Andrews Slabs Revised Workbook and report to the email.
Write an email to George (your assessor).
When you have received written approval for your Workbook and report, send an email to George.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should start with an introduction and a summary of the contents of the attachment.
The email text should also include your short report on the financial viability of Andrews Slabs.
Attach your Andrews Slabs Revised Workbook to the email.
Assessment Task 2 ChecklistStudents name:
Did the student: Completed successfully Comments
Yes No Code, classify and check Andrews Slabs data, paying attention to accuracy and reliability of the data? Compare, match, and interpret data from the Bank Statements and the Excel tables provided? Check internal financial data against bank statements to ensure consistency and accuracy? Develop an Excel Workbook to assist with financial monitoring and reporting? Develop comprehensive and accurate income statement, balance sheet, and cash flow statement? Accurately represent Andrews Slabs financial information in the written report? Perform mathematical calculations and forecasting techniques to represent financial datain the written report? Analyse and compile relevant financial data to complete Andrews Slabs financial report? Comply with Andrews Slabs Financial Policy and Procedures by producing financial reports and performing data entry as described? During the meeting with Andrew, present information? During the meeting, demonstrate effective communication skills including:
Using clear language and correct terminology
Using non-verbal communication to assist with understanding
Asking questions to identify required information
Responding to questions as required
Using active listening techniques to confirm understanding
Make necessary corrections to the financial statements? Obtain verification and authorisation from Andrew for the report and financial statements before sending them to George? Task Outcome: Satisfactory Not Satisfactory
Assessor signature Assessor name Date Student Overall Assessment Record Sheet
This form is to be completed by the assessor and used a final record of student competency.
All student submissions including any associated checklists (outlined below) are to be attached to this cover sheet before placing on the students file.
Student results are not to be entered onto the Student Database unless all relevant paperwork is completed and attached to this form.
Qualification Code and Title FNS40222- Certificate IV of Accounting and Book-Keeping
Student Name: Student ID No: Final Completion Date: Unit Code and Title Term Year Date Assessed Please attach the following documentation to this form Result
Assessment 1 Report ProjectCase Study Written Presentation S NYS DNS
Assessment 2 Report ProjectCase Study Written Presentation S NYS DNS
Final Assessment Result for this unit C NYC
C=Competent NYC= Not Yet Competent S= Satisfactory NYS= Not Yet Satisfactory DNS= Did Not Submit
Feedback:
Any Adjustment Made to The Assessment:
Student Declaration:I declare that this work has been completed by me honestly and with integrity and that I have been assessed in a fair and flexible manner. I understand that the Institutes Student Assessment, Reassessment and Repeating Units of Competency Guidelines apply to these assessment tasks.
Name: ____________________________________________
Signature: _________________________________________
Date: ____/_____/_____ Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Name: _________________________________
Signature: ______________________________
Date: ____/_____/_____
Administrative use only
Entered onto Student Management Database ________________
Date Initials
