www.alphainstitute.edu.au www.alphainstitute.edu.au Student Assessment Tasks BSBFIM501 Manage budgets and financial plans Table of Contents Table of Contents 2 Assessment Information 3 Assessment Instructions 5 Student Assessment Agreement 6 Assessment Task 1 Cover Sheet 7 Assessment Task 1: Written Questions 8 Assessment Task 1 Instructions 10 Assessment Task 1 Checklist 12 Assessment Task 2 Cover Sheet 13 Assessment Task 2: Budget planning project 14 Assessment Task 2 Instructions 15 Assessment Task 2 Checklist 18 Assessment Task 3 Cover Sheet 19 Assessment Task 3: Monitor and control finances project 20 Assessment Task 3 Instructions 21 Assessment Task 3 Checklist 22 Assessment Task 4 Cover Sheet 23 Assessment Task 4: Profit and loss review project 24 Assessment Task 4 Instructions 25 Assessment Task 4 Checklist 26 Assessment Task 5 Cover Sheet 27 Assessment Task 5: Debtor management project 28 Assessment Task 5 Instructions 29 Assessment Task 5 Checklist 31 Assessment Information The assessment tasks for BSBFIM501 Manage budgets and financial plans are included in this Student Assessment Tasks booklet and outlined in the assessment plan below. To be assessed as competent for this unit, the student must complete all of the assessment tasks satisfactorily. Assessment Plan Assessment Task Overview 1. Written questions Students must correctly answer all questions. 2. Budget planning project Students must complete a budget template and participate in a meeting to discuss the budget. They must then present the budget to their team. 3. Monitor and control finances project Students must review budget figures as part of a monitoring process and report on these. 4. Profit and loss analysis project Students must review financial performance from a profit and loss account 5. Debtor Management project Students must review and evaluate financial management processes 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 unit’s 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 Alpha Institute (Australia’s) assessment appeals process. Students 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 Students are directed to name documents logically. Each should include: Course identification code Assessment Task number Document title (if appropriate) Student name Date it was created For example, BSBFI ...

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Student Assessment Tasks

2. BSBFIM501 Manage budgets and financial plans
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 6
Assessment Task 1 Cover Sheet 7
Assessment Task 1: Written Questions 8
Assessment Task 1 Instructions 10
Assessment Task 1 Checklist 12
Assessment Task 2 Cover Sheet 13
Assessment Task 2: Budget planning project 14
Assessment Task 2 Instructions 15
Assessment Task 2 Checklist 18
Assessment Task 3 Cover Sheet 19
Assessment Task 3: Monitor and control finances project 20
Assessment Task 3 Instructions 21
Assessment Task 3 Checklist 22
Assessment Task 4 Cover Sheet 23
Assessment Task 4: Profit and loss review project 24
Assessment Task 4 Instructions 25
Assessment Task 4 Checklist 26
Assessment Task 5 Cover Sheet 27
Assessment Task 5: Debtor management project 28
Assessment Task 5 Instructions 29
Assessment Task 5 Checklist 31
Assessment Information

3. The assessment tasks for BSBFIM501 Manage budgets and
financial plans are included in this Student Assessment Tasks
booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, the student must
complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task
Overview
1. Written questions
Students must correctly answer all questions.
2. Budget planning project
Students must complete a budget template and participate in a
meeting to discuss the budget. They must then present the
budget to their team.
3. Monitor and control finances project
Students must review budget figures as part of a monitoring
process and report on these.
4. Profit and loss analysis project
Students must review financial performance from a profit and
loss account
5. Debtor Management project
Students must review and evaluate financial management
processes
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 unit’s 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.

4. 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 Alpha Institute (Australia’s)
assessment appeals process.
Students 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
Students are directed to name documents logically.
Each should include:
Course identification code
Assessment Task number
Document title (if appropriate)
Student name
Date it was created
For example, BSBFIM501 AT2 Revised Marketing Budget
Joan Smith 20/04/18
Additional Resources
The following resources have been added to appendix.
Assessment Task 2
Marketing Budget Template
Finance Policy and Procedures
Assessment Task 3
Marketing Expenditure
Assessment Task 4
Profit and Loss Account

5. Assessment Task 5
Aged Debtors Report
Assessment Instructions
Each 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 Assessment’s 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 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 Alpha Institute (Australia’s) 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.

6. 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 task’s instructions into a new document
and use this as the basis for your assessment task submission.
Include this document’s 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 1: Written Questions
Task summary
You need to answer all of the written questions correctly.
Your answers must be word processed.
Required
Access to learning materials
Computer and Microsoft Office

7. Access to the internet
Timing
Your assessor will advise you of the due date of this
assessment.
Submit
Answers to all questions
Assessment criteria
All questions must be answered correctly in order for a student
to be assessed as having completed the task satisfactorily.
Re-submission opportunities
Students will be provided feedback on their performance by
their 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 your
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.
Students 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.
Students are encouraged to consult with their assessor prior to
attempting this task if they do not understand any part of this
task or if they have any learning issues or needs that may hinder
them when attempting any part of the assessment.
Written answer question guidance
The following written questions use a range of “instructional
words” such as “identify” or “explain”, which tell you how you
should answer the question. Use the definitions below to assist
you to provide the type of response expected.
Note that the following guidance is the minimum level of

8. response required.
Analyse – when a question asks you to analyse something, you
should do so in in detail, and identify important points and key
features. Generally, you are expected to write a response one or
two paragraphs long.
Compare – when a question asks you to compare something, you
will need to show how two or more things are similar, ensuring
that you also indicate the relevance of the consequences.
Generally, you are expected to write a response one or two
paragraphs long.
Contrast – when a question asks you to contrast something, you
will need to show how two or more things are different,
ensuring you indicate the relevance or the consequences.
Generally, you are expected to write a response one or two
paragraphs long.
Discuss – when a question asks you to discuss something, you
are required to point out important issues or features, and
express some form of critical judgement. Generally, you are
expected to write a response one or two paragraphs long.
Describe – when a question asks you to describe something, you
should state the most noticeable qualities or features. Generally,
you are expected to write a response two or three sentences
long.
Evaluate – when a question asks you to evaluate something, you
should do so putting forward arguments for and against
something. Generally, you are expected to write a response one
or two paragraphs long.
Examine – when a question asks you to examine something, this
is similar to “analyse”, where you should provide a detailed

9. response with key points and features and provide critical
analysis. Generally, you are expected to write a response one or
two paragraphs long.
Explain – when a question asks you to explain something, you
should make clear how or why something happened or the way
it is. Generally, you are expected to write a response two or
three sentences long.
Identify – when a question asks you to identify something, this
means that you are asked to briefly describe the required
information. Generally, you are expected to write a response
two or three sentences long.
List – when a question asks you to list something, this means
that you are asked to briefly state information in a list format.
Outline – when a question asks you to outline something, this
means giving only the main points, Generally, you are expected
to write a response a few sentences long.
Summarise – when a question asks you to summarise something,
this means (like “outline”) only giving the main points.
Generally, you are expected to write a response a few sentences
long.Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Explain the basic principle of double entry bookkeeping.
2. Describe the principle of cash accounting and one advantage
and one disadvantage of this method of accounting.

10. 3. Describe the principle of accrual accounting and one
advantage and one disadvantage of cash accounting
4. Explain the two accounting principles on which the
calculation and reporting of deprecation is based.
5. Identify and explain three key features of A New Tax System
(GST) Act 1999.
6. Identify and then explain the four main taxation and
superannuation obligations for a business. Briefly discuss each
obligation.
7. According to GST legislation, list four items that do not
attract GST.
8. Explain the process by which a business reports GST to the
Australian tax office.
9. What is the penalty rate to be applied if a supplier does not
provide an ABN?
10. A non-profit organisation needs to register for GST after it
has a turnover of more than how much?
11. List the key information that must be included on a tax
invoice for sales of $1,000 or more.

11. 12. Identify and explain three types of financial statements and
their purpose.
13. Describe the type of entity that is required to have financial
reports audited.
14. Explain the purpose of a financial audit and auditor’s report.
15. Describe why companies may choose to develop budgets.
16. Explain the main steps in the budgeting process.
17. List 5 ways to improve cash inflow and give examples.
18. Explain the use of electronic spreadsheets in developing
budgets and give two of their key features.
19. Explain three key principles relating to the management of a
chart of accounts.
20. Explain the purpose of a profit and loss statement and give
two of its key features.
Assessment Task 1 Checklist
Student’s name:
Did the student provide a sufficient and clear answer that

12. addresses the suggested answer for:
Completed successfully
Comments
Yes
No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8

13. Question 9
Question 10
Question 11
Question 12
Question 13
Question 14
Question 15
Question 16
Question 17

14. Question 18
Question 19
Question 20
Task Outcome:
Satisfactory
Not Satisfactory
Assessor signature
Assessor name
Date
Assessment Task 2: Budget planning project
Task summary
This assessment task requires you in the role of the Marketing
Manager for King Edward VII College to review the budget you
have been assigned for the upcoming financial year and to
participate in a meeting with the CEO (role-played by your
assessor) to discuss and negotiate the budget.
You are then required to meet with your team to discuss the
budget allocation for the year, as well as explain the key
features of the company’s financial policy and procedure.
This assessment is to be completed in the simulated work

15. environment in Alpha Institute (Australia’s).
Required
· Computer and Microsoft Office
· Access to the internet for research
· Marketing Budget Template
· Finance Policies and Procedures
· Space for a meeting
· Roleplay participants
Timing
Your assessor will advise you of the due date of these
submissions.
Submit
· Email to assessor with the Draft Marketing Budget attached
· Email to assessor with the Revised Marketing Budget attached
Assessment criteria
For students’ performance to be deemed satisfactory in this
assessment task, they must satisfactorily address all of the
assessment criteria. If part of this task is not satisfactorily
completed they will be asked to complete further assessment to
demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by
their 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 your
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.
Students 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.

16. Students are encouraged to consult with their assessor prior to
attempting this task if they do not understand any part of this
task or if they have any learning issues or needs that may hinder
them when attempting any part of the assessment.
Assessment Task 2 Instructions
Carefully read the following:
King Edward VII College has been operating for 5 years. The
College is based in Melbourne CBD and has an additional
campus in Sydney. The College offers a range of courses in
management, marketing, human resources and international
business. It currently has around has around 500 students
enrolled across all of its courses. Courses are offered at all
levels, from Certificate II to Graduate Diploma.
King Edward VII College is very popular due to its competitive
pricing structure, innovative teaching methods and state of the
art facilities.
The College currently employs 24 staff members that include
the CEO, a Marketing Manager and Marketing Assistant,
Promotions Officer, Human Resources Manager, Operations and
Finance Manager, Administration Manager, Office Assistant,
Receptionist, Academic Manager, Student Services Officer and
approximately 14 trainers.
As the Marketing Manager for the company, you are allocated a
budget each year to spend on marketing.
This year the budget you have been allocated is $25,000, which
is approximately 10% of revenue. Your budget does not include
salaries and wages of staff, which is accounted for through

17. another cost centre.
Your marketing plan for the year includes the activities below.
The amounts in brackets are your cost projections for each
activity:
· Redesign web site to improve branding ($5,000)
· Design and implement an incentive scheme for referrals by
students ($2,400)
· Conduct a radio advertising campaign ($10,000)
· Online communications: newsletters, websites. Blogs, Twitter
(zero cost: staff time only)
· Stand at VCE Careers Expo 2016 (Stand package $3,300)
· Develop and publish 2016 promotional brochure ($1,500)
· Sponsor community organisation to improve local community
profile ($2,000)
· Contingency amount ($800)
You would also like to conduct a TV advertising campaign, and
have been quoted a price of $30,000 to run the campaign. As
this is obviously well over the budget limit, you need to
negotiate an increase in budget. In order to negotiate this
increase, you will need to research and present an argument for
using TV advertising and the benefits to the company.
Complete the following activities:
1. Develop a draft marketing budget
As the Marketing Manager for King Edward VII College, you
are required to develop a budget for marketing for the year.
Review the case study information provided to you and, based
on amounts allocated to each marketing activity, develop a
marketing budget using the Marketing Budget Template to
discuss at a meeting with the CEO.

18. Save this document as Draft Marketing Budget.
Prior to the meeting, you are also required to research the
benefits of television advertising in order to present a case for
an increase in budget. Make notes to assist you at the meeting.
22. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the
attachment, and ask for an appointment to discuss it with them.
Attach your draft marketing budget to the email.
Your assessor will advise you of the time and date of the
meeting.
23. Participate in a budget meeting
The next part of the assessment requires you to participate in a
meeting with the CEO (role-played by your assessor) to discuss
the marketing budget. At the meeting, you will need to:
Provide a copy of your completed budget to the CEO
Explain each of the planned marketing activities
Confirm the amount allocated to each of the marketing
activities, including the amount allocated for contingencies.
Negotiate to increase the budget to accommodate the TV
advertising campaign you wish to run (as per the case study
information, you will need to present the benefits of television
advertising to convince the CEO).
During the meeting, demonstrate effective communication skills
including:
Speaking clearly and concisely
Using non-verbal communication to assist with understanding

19. Asking questions to identify required information
Responding to questions as required
Using active listening techniques to confirm understanding
24. Revise the marketing budget
Following the meeting, revise your marketing budget to
incorporate feedback from the CEO.
Save this document as Revised Marketing Budget.
25. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the
attachment, and seek their feedback and ask for the place, date
and time of the meeting with your team.
Attach your revised marketing budget to the email.
26. Meet with your team to discuss the budget.
The final part of the assessment requires you to meet with your
team to confirm the budget for the year.
You are also required to introduce the team to the company’s
Finance Policies and Procedures, so revise this before the
meeting, and write a short summery of it to share with your
team.
At the meeting, you will need to:
Discuss the overall budget allocation
Discuss the amounts allocated to each marketing activity
Discuss the amount allocated for contingencies
Provide an outline of the Finance Policies and Procedures.
During the meeting, demonstrate effective communication skills
including:

20. Speaking clearly and concisely
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
Assessment Task 2 Checklist
Student’s name:
Did the student:
Completed successfully
Comments
Yes
No
Access budget information from the case study and use this to
develop the marketing budget?
In the meeting, discuss and confirm the marketing budget with
the CEO?
Negotiate changes to the budget based on presenting coherent
arguments for the use of television advertising?
Allow for contingencies within the budget?
During the meeting to discuss budgets and financial policies and

21. procedures, demonstrate effective communication skills
including:
· Speaking clearly and concisely
· 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
Discuss the budget with the team?
Use templates to record all information according to company
procedures?
Provide information to team members to follow required
financial procedures?
Task Outcome:
Satisfactory
Not Satisfactory
Assessor signature
Assessor name
Date
Assessment Task 3: Monitor and control finances project
Task summary
This assessment task requires you to monitor and control

22. finances for the marketing department for King Edward VII
College and provide a budget and expenditure report to the
CEO.
This assessment is to be completed in the simulated work
environment in the Alpha Institute (Australia’s).
Required
· Access to learning materials
· Computer with Microsoft Office and internet access
· Marketing Expenditure
Timing
Your assessor will advise you of the due date of these
submissions.
Submit
· Email to assessor with budget report and updated marketing
budget attached
Assessment criteria
For students’ performance to be deemed satisfactory in this
assessment task, they must satisfactorily address all of the
assessment criteria. If part of this task is not satisfactorily
completed they will be asked to complete further assessment to
demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by
their 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 your
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.
Students have the right to appeal the outcome of assessment

23. decisions if they feel they have been dealt with unfairly or have
other appropriate grounds for an appeal.
Students are encouraged to consult with their assessor prior to
attempting this task if they do not understand any part of this
task or if they have any learning issues or needs that may hinder
them when attempting any part of the assessment.
Assessment Task 3 Instructions
Carefully read the following:
As per company policy, you are responsible for monitoring and
recording expenditure each month.
The finance department has provided you with Marketing
Expenditure, a report on expenditure for 2015/16.
There will also be some notes included to assist you to complete
this task.
Note: that the company deems a standard variance in budgets of
up to 5% acceptable.
Complete the following activities:
1. Update the marketing budget.
Enter the amounts in Marketing Expenditure into your budget
under actual expenses.
Save this document as Updated Marketing Budget.
2. Write a report on the budget and expenditure

24. Your budget report should include:
Projected budget and actual budget and variations
Overall level of variance, as well as variance for individual
marketing activities
Reasons for overruns
Proposed solutions for following year’s budget
3. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the
attachments.
Attach your budget report and updated marketing budget to the
email.
Assessment Task 3 Checklist
Student’s name:
Did the student:
Completed successfully
Comments
Yes
No
Interpret and analyse information for budget reporting?
Monitor and report on expenditure and costs?

25. Record budget information in required documents?
Modify contingency plans?
Report on budget and expenditure?
Task Outcome:
Satisfactory
Not Satisfactory
Assessor signature
Assessor name
Date
Assessment Task 4: Profit and loss review project
Task summary
This assessment task requires you to assume a different role as
Operations Manager for King Edward VII College and to report
on an interim profit and loss account.
This assessment is to be completed in the simulated work
environment in the Alpha Institute (Australia’s).
Required
· Access to learning materials
· Computer and Microsoft Office
· Access to the internet
· Profit and Loss Account
Timing

26. Your assessor will advise you of the due date of these
submissions.
Submit
· Email to assessor with performance report attached
Assessment criteria
For students’ performance to be deemed satisfactory in this
assessment task, they must satisfactorily address all of the
assessment criteria. If part of this task is not satisfactorily
completed they will be asked to complete further assessment to
demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by
their 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 your
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.
Students 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.
Students are encouraged to consult with their assessor prior to
attempting this task if they do not understand any part of this
task or if they have any learning issues or needs that may hinder
them when attempting any part of the assessment.
Assessment Task 4 Instructions
Complete the following activities:

27. 1. Write a report for the CEO on the College’s performance for
the last six months
Analyse the information provided in the interim Profit and Loss
Account, and write a short report on this.
Your performance report should:
a. Outline financial performance based on the figures in the
profit and loss account
b. Identify variances higher than 10%
c. Compare the performance of each campus
d. Recommend solutions in relation to expenditure items where
variances are higher than 10%
2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the
attachment.
Attach your performance report to the email.
Assessment Task 4 Checklist
Student’s name:
Did the student:
Completed successfully
Comments
Yes
No
Interpret a profit and loss account?

28. Evaluate performance based on financial information provided?
Recommend solutions in relation to variances?
Task Outcome:
Satisfactory
Not Satisfactory
Assessor signature
Assessor name
Date
Assessment Task 5: Debtor management project
Task summary
This assessment task requires you to review and evaluate
financial management processes.
This assessment is to be completed in the simulated work
environment in the Alpha Institute (Australia’s).
Required
· Access to learning materials
· Computer and Microsoft Office
· Access to the internet
· Aged Debtor Summary
· Aged Debtor Monitoring Summary
Timing
Your assessor will advise you of the due date of these
submissions.
Submit

29. · Email to the CEO (assessor) with Aged Debtor Report
attached.
· Email to the CEO (assessor) with Debtor Management
Procedures.
· Email to the CEO (assessor) regarding monitoring of aged
debts
Assessment criteria
For students’ performance to be deemed satisfactory in this
assessment task, they must satisfactorily address all of the
assessment criteria. If part of this task is not satisfactorily
completed they will be asked to complete further assessment to
demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by
their 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 your
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.
Students 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.
Students are encouraged to consult with their assessor prior to
attempting this task if they do not understand any part of this
task or if they have any learning issues or needs that may hinder
them when attempting any part of the assessment.
Assessment Task 5 Instructions

30. Complete the following activities:
1. Write an Aged Debtor Report for the CEO.
Analyse the information in the Aged Debtor Summary.
Note that the company’s usual terms are payment 14 days from
invoice.
Research best practice debtor management and then an Aged
Debtor Report.
Your report should include:
An outline of the information in the Aged Debtor Summary.
What this says about the company’s aged debtor processes.
At least 5 recommendations that could be adopted by the
company in response to your analysis. This should be based on
the debtor management research you conducted.
Your report should be approximately 1 page long.
2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the
attachment, and seek their approval to implement best practice
debtor management processes.
Attach your aged debtor report to the email.
3. Implement debtor management procedures

31. Assume that the CEO advises that in response to your
recommendations that a debtor management procedure should be
developed and implemented in relation to customer invoices.
You are required to develop a simple debtor management
procedure for customer payments. It should include a range of
simple steps from a friendly reminder to sending a formal letter
of demand. Your procedure should be approximately one page
and be sent to the CEO (your assessor via email).
4. Monitor debtor management procedures
Assume it is six months later and you are required to review a
summary of current aged debts to determine the effectiveness of
the implementation of the debtor management procedure.
Review the Aged Debtor Monitoring Summary. Compare it
against the previous Aged Debtor Summary to determine the
effectiveness of the procedure.
5. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct
English, written in an appropriate (polite, business-like) style.
It should summarise your findings regarding your analysis of
the Aged Debtor Monitoring Summary.
Assessment Task 5 Checklist
Student’s name:
Did the student:
Completed successfully
Comments
Yes
No
Analyse information on the effectiveness of financial
management processes?

32. Recommend improvements to financial management approaches
based on best practice approaches?
Implement improved financial management approaches?
Monitor improved financial management approaches?
Task Outcome:
Satisfactory
Not Satisfactory
Assessor signature
Assessor name
Date
1

33. Sydney Campus: 8 Figtree Drive Sydney Olympic Park NSW
2127 • Canberra Campus: 17 Oatley Ct, Belconnen ACT 2617
Phone: 0426261343 • Email: [email protected]
ABN: 99 620 543 688 • RTO CODE: 45413 • CRICOS CODE:
03708F
2
Sydney Campus: 8 Figtree Drive Sydney Olympic Park NSW
2127 • Canberra Campus: 17 Oatley Ct, Belconnen ACT 2617
Phone: 0426261343 • Email: [email protected]
ABN: 99 620 543 688 • RTO CODE: 45413 • CRICOS CODE:
03708F