Assessment Tasks and Instructions

Student Name
Student Number
Course and Code
Unit(s) of Competency and Code(s) SITXFIN001 Process financial transactions
Stream/Cluster
Trainer/Assessor

Assessment for this Unit of Competency/Cluster Details

Assessment 1 Short Answer Questions
Assessment 2 Observations
Assessment 3
Assessment conducted in this instance: Assessment 1 2 3

Reasonable Adjustment
1. Has reasonable adjustment been applied to this assessment?
No No further information required

Yes Complete 2.
2. Provide details for the requirements and provisions for adjustment of assessment:

Student to complete
My assessor has discussed the adjustments with me
I agree to the adjustments applied to this assessment
Signature Date

2nd Assessor to complete

I agree the adjustments applied to this assessment are reasonable
Name

Signature Date
Assessment Guidelines
What will be assessed
The purpose of this assessment is to assess you underpinning knowledge to complete the tasks outlined in the

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elements and performance criteria for this unit of competency and relating to the following aspects:

 types of financial transactions that commonly take place in tourism, travel, hospitality and event organisations:
o advance payments
o application of goods and services tax (GST)
o payments:
 cash
 cheque
 credit card
 electronic funds transfer at point of sale (EFTPOS)
o deposits
o foreign currency
o petty cash disbursements
o refunds
o traveller’s cheques
o vouchers
 procedures for processing and recording different types of transactions:
o completing reconciliation records
o complying with financial institution documents and procedures
o designated times for completing reconciliations
o handling customer claims of short change
o how and where large sums of cash should be counted
o maintaining low levels of cash in tills
o managing petty cash
o process for providing receipts and invoices to customers
o process for taking cash from customers
o securing credit card imprints
o securing takings in the event of a hold-up
 features and functions of point-of-sale software
 role and importance of the reconciliation process to organisational financial management system
 security procedures for transporting and securing cash floats, cash and other payments:
o obtaining receipts or sign-off for takings handed over to financial personnel
o separating and securing cash floats
o transporting takings to back office areas and internal cashiers
o transporting takings to the bank and obtaining receipts or sign-off
 different products and services that attract GST.
Place/Location where assessment will be conducted
RTO to complete

Resource Requirements

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Pen, Paper or computer, calculator

Instructions for assessment including WHS requirements

You are required to address all questions to achieve competence. Your trainer will provide you with instructions
for time frames and dates to complete this assessment.
Once completed, carefully read the responses you have provided and check for completeness. Your trainer will
provide you with feedback and the result you have achieved.

Statement of Authenticity
I acknowledge that I understand the requirements to complete the assessment tasks
The assessment process including the provisions for re-submitting and academic appeals were explained to
me and I understand these processes
I understand the consequences of plagiarism and confirm that this is my own work and I have
acknowledged or referenced all sources of information I have used for the purpose of this assessment
Student Signature: Date: / /201

This assessment: First Attempt 2nd Attempt Extension – Date:    /    /   

RESULT OF ASSESSMENT Satisfactory Not Yet Satisfactory

Feedback to Student:

Assessor(s) Signature(s): Date:    /    /     

Student Signature Date:    /    /     

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Assessment 1

Your task: Answer the following questions. Each question must be completed.

1. List the checking and documentation requirements when receiving a cash float:

Requirements

2. Describe the procedures for taking cash payment and giving change to a customer:

Procedures

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3. Describe the procedures for processing the following payments:

Method of Payment Procedural Steps (What needs to be done)

Credit Card (using Electronic
Facility)
Include provisions where a card
without PIN is being used e.g. by
a customer from U.S.

Credit Card (Manual Processing)

Cash Card

Refund on a Credit or Cash Card

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4. A supplier delivers two bags of coffee beans for which he requires a cash payment as your establishment
holds a Cash On Delivery (COD) account with the supplier. What would be the correct procedure for
processing this transaction?

Explanation

5. List the details which must be shown on a tax invoice issued to a customer and explain how you would verify
a manual (written) invoice:

Details required on a Tax Invoice

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6. You have finished the evening shift at Futura restaurant. Describe the procedures for a reconciliation of
takings.

Reconciliation Procedures

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7. You have reconciled all takings and counted all payments at the end of your shift. In the table below,
establish the Total Amount of Sales, Total Amount of Takings and determine the amount for Under or Over:

Date: Cashier: YOU Cahier #: 3

Shift: AM/PM/BFAST/LUNCH/DINNER
Opening Float $
Takings $ Amount Denomination Items $ Amount
Food 2678.50 $100 2
Beverage 934.20 $50 22
Other $20 22
$10 13
Entrees $5 9
Main Courses $2 26
Desserts $1 33
Beverages $0.50 7
Other $0.20 23
$0.10 47
$0.05 18
Visa 6
MasterCard 2
American Express 1
Diners Club
Internal Account
Room Charge 7
Less Payments from Till
Total Sales Total Takings
Under/Over
Signed by Cashier:
Signed by Supervisor:

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8. What are the processes and security aspects which must be followed for the following procedures:

a. Collecting a float

b. Managing monies in the till during service or a trading period

c. Banking

Security Procedures
a. Collecting a float

b. Managing monies in the till during service or a trading period

c. Banking

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9. Explain the procedural steps for posting charges to a guest account
a. manually
b. using a computerised system

Procedures
a.

b.

10. Calculate the GST amount for the following transactions:

1. The total amount of a bill incl. GST is $ 275.33. What is the GST amount?

2. A bill comes to $ 175.50 excluding GST. What amount needs to be added for GST?

3. The total for a customer’s purchase adds to $ 355.50 including GST and includes an item for
$ 36.50 which is GST free. What is the actual GST amount for this purchase?

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11. Calculate the following foreign exchange transactions based on the given exchange rates:

1 AUD = £ 0.49

1 AUD = $US 0.78

1 AUD = € 0.58

1. A customer would like to exchange £ 245.00. The commission is 8%. How many AUD will you pay to the
customer?

2. A customer would like to exchange $US 390.00. The commission is 7%. How many AUD will you pay to
the customer?

3. A customer would like to exchange € 435.00. The commission is 9%. How many AUD will you pay to the
customer?

12. What is the role and importance of the reconciliation process for an organisational financial management
system?

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13. List 5 different products and service categories in the Tourism, Hospitality and Event industries, which do
attract GST. Provide 1 example for products which are generally exempt from GST.

Products and services attracting GST Products and services exempt from GST
1. 1.

2.

3.

4.

5.

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