ASSESSMENT COVER PAGE

STUDENT DETAILS / DECLARATION:

Course Name: DIPLOMA OF HOSPITALITY MANAGEMENT

Unit / Subject Name: SITXFIN003 Manage finances within a budget

Trainer’s Name: ARIF KHAN Assessment No: Task A, Task B, Task C

oX I fully understand the context and purpose of this assessment.

oX I am fully aware of the competency standard/criteria against which I will be assessed.
I declare that:
oX I have been given fair notice of the date, time and venue for the assessment.
oX I am aware of the resources I need and how the assessment will be conducted.
oX I have had the appeals process and confidentiality explained to me.
oX I agree that I am ready to be assessed and that all written work is my own.
oX This assessment is my:
oX First submission o Re-submission (Attempt ___ )
Student Name: Student ID: AC20190099
YANLIN GUO
Student’s Signature: Submission Date: / /

ASSESSOR USE ONLY: (ACADEMIC DEPARTMENT)

Result:
Assessment Task A: o Satisfactory o Not Satisfactory

Assessment Task B: o Satisfactory o Not Satisfactory

Assessment Task C: o Satisfactory o Not Satisfactory

Final Assessment Result for this unit C / NYC

Feedback:
Feedback is given to the student on each
Yes / No
Assessment task & final outcome of the unit

Assessor’s
Feedback:

Assessor’s Date: / /
Signature:

ASSESSMENT FIRST SUBMISSION/RE-SUBMISSION RECEIPT:

It is student’s responsibility to keep the assessment submission receipt as a proof of submission of assessment tasks.

Student Name: Student ID:

YANLIN GUO AC20190099
Unit / Subject Code: Assessment No:
SITXFIN-003 MANAGE FINANCES WITHIN A BUDGET TASK A, TASK B, TASK C
Trainer Name: Date: / /
ARIF KHAN

Signature:

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Assessment/evidence gathering conditions

Each assessment component is recorded as either Satisfactory (S) or Not Yet Satisfactory (NYS). A student can only achieve
competence when all assessment components listed under procedures and specifications of the assessment section are
Satisfactory. Your trainer will give you feedback after the completion of each assessment. A student who is assessed as NYS is
eligible for re-assessment. Should the student fail to submit the assessment, a result outcome of Did Not Submit (DNS) will be
recorded.
Student should be provided with an appropriate time frame in which to resubmit their work, according to the RTO’s re-assessment
policy and procedure.
Plagiarism, cheating and collusion.
Where a trainer/assessor believes there has been an incident of academic misconduct involving plagiarism, cheating, and/or
collusion, they should report this along with reasons for the allegation. Assessors should refer to their RTO’s policy and procedures
regarding training and assessment for further information.”
When all unit’s assessment tasks have been submitted and assessed (including resubmissions), print out a copy of this unit’s Final
Results Record, included as the last page of this document. Record the result for each task and the final result for the unit as C
(Competent) or NYC (Not Yet Competent). There is also space to give the student some written feedback for the overall unit.
Sign and date the middle section and give the sheet to the student. After discussing their results with them, the student must fill out
and sign the final section of the Record, where they acknowledge the result that you have given them.
When the student has filled out the final section of the Final Results Record, make a copy for them and retain the original with the
student’s records.

Resources required for this Assessment

• All documents must be created using Microsoft Office suites i.e., MS Word, Excel, PowerPoint

• Upon completion, submit the assessment printed copy to your trainer along with assessment coversheet.

• Refer the notes on eLearning to answer the tasks

• Any additional material will be provided by Trainer

Instructions for Students

Please read the following instructions carefully

• This assessment is to be completed according to the instructions given by your assessor. These instructions may include
answer length or size (word limit), how to conduct role play presentation etc.
• Feedback on each task will be provided to enable you to determine how your work could be improved. You will be provided
with feedback on your work within 2 weeks of the assessment due date.
• Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge. You will
be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit of competency.

• If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
• Please refer to the College re-assessment and re-enrolment policy for more information.
• Please provide required references of the sources, if you use any information from any sources (such as: learner book, power
point and online resources) to answer the assessment questions and make the required changes to justify that it is your own
work.

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Re-submission opportunities

Please read the following instructions carefully

• 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.

• Please see Student Assessment, Reassessment and Repeating Unit of Competency Guidelines v1.0 for more detail.

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 Assessment Task A: Skills Activity

The skills activity is designed to be a series of demonstrative tasks that should be assessed by observation (by the
assessor or third party, depending on the circumstances)
.
It will demonstrate all of the skills required for this unit of competency – your assessor will provide further instructions
to you, if necessary.

Task summary
Objective: To provide you with an opportunity to show you have the required skills for this unit.

This activity will enable you to demonstrate the following skills:

➢ Reading skills
➢ Writing skills
➢ Oral communication
➢ Numeracy skills
➢ Problem-solving skills
➢ Teamwork skills
➢ Technology skills

Answer the activity in detail, considering your organisational requirements.

As a workplace activity or simulated workplace activity (as directed by the assessor):

1. Obtain a copy of an expenditure report from a past budget, and thoroughly read this document to
identify and analyse any examples of wastage.
2. Using your organisation’s computer software, write up a mock purchase summary report for a recent
order.
3. Organise a meeting with any staff who have financial decision-making authority, in order to discuss the
setting of priorities for an upcoming budget. Lead this meeting, using your oral communication skills to
make sure that details of priorities are communicated and understood by everyone.
4. Use your numeracy skills to estimate expenditure for an upcoming project. Don’t forget to check
previous budgets to check the likely costs involved.
5. Use your problem-solving skills to develop a contingency plan for use in the event of a significant
deviation from the planned budget in question four.
6. Organise a meeting with those involved in the creation of the budget from question four and five. Use
teamwork skills to lead discussions and come to decisions on the desired outcomes of the budget.
Make sure everyone knows what part they play in budget control, and how they can contribute to
agreed outcomes.
7. Using your organisation’s computer software, create a graph or chart which shows overall levels of
expenditure over the course of the budgetary period (using the budget you created in the previous
three questions).

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 Assessment Task B: Knowledge activity ( Q & A)

The knowledge activity is designed to be a verbal questionnaire where the assessor asks you a series of questions to
confirm your competency for all of the required knowledge in the unit of competency.

Task summary
Objective: To provide you with an opportunity to show you have the required knowledge for this
unit.

The answers to the following questions will enable you to demonstrate your knowledge of:
➢ Types of financial records:
o bank deposit documentation
o bank statements
o banking summaries
o business activity statements
o cheque books
o credit card transaction statements
o invoices
o journal entries
o labour and wages reports
o merchant statements
o merchant summaries
o transaction reports
➢ Types of budgets:
o cash budgets
o cash flow budgets
o departmental budgets
o event budgets
o project budgets
o purchasing budgets
o sales budgets
o wage budgets
o whole of organisation budgets
➢ Factors for consideration in the preparation of financial and statistical reports:
o cash flow
o commercial account activity
o commission earnings
o covers and financial return
o daily, weekly and monthly transactions
o expenditure
o income
o occupancy rates and financial return
o performance of department, project and/or products and services
o sales performance
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 o sales returns
o staff costs
o stock levels
o variance in income and/or expenditure
o wastage
o yield
➢ Use, contents of and formats for:
o budgets
o financial reports
o statistical reports
➢ Budget terminology
➢ Specific industry sector and organisation:
o use of budgets to control costs and enhance profitability
o importance of budget control
o techniques for maximising budget performance
o financial reporting procedures and cycles
o features and functions of accounting software programs used to manage budgets

Answer each question in as much detail as possible, considering your organisational requirements
for each one.

1. In your own words, explain what each of the following financial records show:
➢ Invoices
➢ Labour/wage reports
➢ Credit card transaction statements.

2. Explain why having dedicated budgets for specific departments and projects can be useful (as opposed
to only relying on a budget for the whole organisation).

3. Why is it important to consider sales performance when monitoring budgets and preparing financial
reports?

4. What information is contained in the following document types:

➢ Budgets
➢ Financial reports
➢ Statistical reports?

5. Explain what the following budgetary terminology means:

➢ Revenue
➢ Financial commitment
➢ Debt.

6. Why is it important to promote budget control, and how can this enhance the overall profitability of your
organisation?

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 Assessment Task C: Performance activity

The performance activity is designed to be a practical activity performed either in the workplace or a simulated
environment. You should demonstrate the required practical tasks for the unit of competency and be observed by the
assessor and/or third party, as applicable to the situation. If the third party is required to observe you, you will need to
make the required arrangements with them.

If necessary, for the activities, you should attached completed written answers, portfolios or any evidence of
competency.

Task summary
Objective: provide you with an opportunity to demonstrate the required performance elements for
this unit.

A signed observation by either an approved third party or the assessor will need to be included in
this activity as proof of completion.

This activity will enable you to demonstrate the following performance evidence:
➢ Manage a budget for a business over a three-month period that meets the specific business’ needs
➢ Undertake at least two of the following to inform management of the above budget:
o discussions with existing suppliers
o evaluation of staffing and rostering requirements
o evaluation of impact of potential roster changes
o review of operating procedures
o sourcing new suppliers
➢ Monitor income and expenditure and evaluate budgetary performance over the above budgetary
life cycle
➢ Complete financial reports related to the above budget within designated timelines and using
correct budget terminology

Answer the activity in as much detail as possible, considering your organisational requirements.

1. Create a budget for an event or project that will last for three months or more. Throughout this period,
you must show that you can create, monitor, and control the budget by doing the following:

➢ Show that you can work with colleagues to establish requirements and priorities (including staffing
requirements and stock requirements)
➢ Use financial records to monitor expenditure and income on a regular basis
➢ Identify any variances and deviations, and react to them – you may need to adapt the budget
➢ Complete financial reports to ensure control of finances, and to update others on the budget’s
status.

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 Assessment Task A, Task B, Task C Checklist

Student’s name:

Completed
successfully
Did the student: Comments
Yes No

Assessment Task A

Question 1.

Question 2.

Question 3.

Question 4.

Question 5.

Question 6.

Question 7.

Assessment Task B

Question 1.

Question 2.

Question 3.

Question 4.

Question 5.

Question 6.

Assessment Task C

Question 1.

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Task Outcome: Satisfactory  Not Satisfactory 

Assessor name:

Assessor signature:

Date:

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 Role Play Observation (Assessor Checklist)
This checklist is to be used when assessing the students in this task. This checklist is to be completed for each student. Please refer to separate
mapping document for specific details relating to alignment of this task to the unit requirements.

Student name:

Student ID:

Date:

Completed
successfully Comments
In completing this task, did the student
Yes No
Dressed appropriately

Speaking clearly and concisely to present

information

Using active listening techniques

Appropriate Body language

Eye contact with audiences & observer

Identify issues/problems/needs

Summaries or paraphrase

Responding to audiences’ questions

Closed questions to justify

Handed relevant role play document to
observer

Task Outcome: Satisfactory  Not Satisfactory 

Assessor Comments:

Assessor Name:

Assessor signature:

Role Play Observation (Assessor Checklist)

Version: 1.0
Implemented: January 2019
To be reviewed: January 2020
Responsibility: Academic Manager Page 1 of 1
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