SITXFIN009 Manage Finances Within Budget


Learner Information

This Learner Assessment Pack is designed for you to complete the assessment for SITXFIN009–Manage finances within a budget (Release 1). It may refer to your own workplace/organisation, or to a simulated business provided by your assessor.

The assessment tasks include Knowledge Assessment where you need to demonstrate your knowledge and understanding of the unit, and the Practical Assessment, where you need to demonstrate your skills required in the unit. It is recommended that you complete the Practical Assessments in your own workplace/organisation. If you don’t have access to a real workplace, you can complete the assessment in a simulated environment where resources and conditions similar to a workplace must be accessed. Ensure to discuss this with your assessor prior to commencing with the assessment.

Each Learner Assessment Pack is made up of four parts:

  • Assessment Delivery
  • Learner Information
  • Steps for Learner
  • Assessment Agreement
  • Assessment Tasks
  • Assessment Tasks, including:
  • Knowledge Assessment
  • Practical Assessment
  • Assessment Workbook Checklist
  • Assessment Workbook Checklist
  • Recording
  • Record of Assessment

Before you commence your assessment, ensure that you have a good knowledge of the subject, have thoroughly read your Learner Resource, and clearly understand the assessment requirements and the expectations of the industry to which the assessment is related.

Assessments are designed to be completed using your industry/organisation, but your Registered Training Organisation (RTO) may assist you by contextualizing the unit to be completed in a simulated workplace environment.

You will be required to demonstrate knowledge and skills which must be observed directly by your assessor. Where the observation task may be difficult for the assessor to directly observed, a video recording of the practical observation task must be submitted as supplementary evidence. Verification from at least one third-party signatory, and preferably two or more witnesses is required to confirm your demonstration of these practical knowledge and skills. These witnesses would usually be your current or recent supervisors, or your assessor.

The practical assessment tasks may be completed using your own workplace, a simulated environment, or a mix of both, as instructed by your assessor.To contextualize this assessment to your industry/organisation, you may be asked by your assessor to provide additional information based on your industry/organisation.

Instructions are given for each task. If you have questions, or unclear how to proceed, consult with your assessor.

Records of all aspects of the assessment must be kept in your Learner Assessment Pack

Steps for Learners

Your Learner Assessment Pack:

  1. Upon receiving your Learner Assessment Pack, discuss with your assessor the expectations and requirements of this assessment. You may also need to supply contact details of one or two work referees who can confirm your skills in the industry.

Discuss with your assessor if you intend to undertake the practical assessment tasks based on your employing organisation, in a simulated business, or in a mix of both.

  1. Your Learner Assessment Pack is where you will get the task information. Complete each task as instructedusing either your own workplace, or using a simulated business, as discussed with your assessor.
  1. After you complete your assessment, gather and submit your evidence documents as detailed in the task(s) in the timeframe agreed with your assessor.

Your assessor will advise you if there are any further steps for you to take to satisfactorily complete this assessment.

Reasonable Adjustment

Adapted Reasonable Adjustment in teaching, learning and assessment for learners with a disability – November 2010 – Prepared by – Queensland VET Development Centre

Reasonable adjustment in VET is the term applied to modifying the learning environment or making changes to the training delivered to assist a learner with a disability. A reasonable adjustment can be as simple as changing classrooms to be closer to amenities or installing a particular type of software on a computer for a person with vision impairment.

Why make a reasonable adjustment?

We make reasonable adjustments in VET to make sure that learners with a disability have:

  • The same learning opportunities as learners without a disability, and
  • The same opportunity to perform and complete assessments as those without a disability.

Reasonable adjustment applied to participation in teaching, learning and assessment activities can include:

  • Customizing resources and assessment activities within the training package or accredited course
  • Modifying the presentation medium
  • Learner support
  • Use of assistive/adaptive technologies
  • Making information accessible both before enrolment and during the course
  • Monitoring the adjustments to ensure learners needs continue to be met

Assistive/Adaptive Technologies

Assistive/Adaptive technology means ‘software or hardware that has been specifically designed to assist people with disabilities in carrying out daily activities’ (World Wide Web Consortium – W3C). It includes screen readers, magnifiers, voice recognition software, alternative keyboards, devices for grasping, visual alert systems, digital note-takers.

IMPORTANT:

Reasonable adjustment made for collecting learner assessment evidence must not impact on the standard expected by the workplace, as expressed by the relevant unit(s) of competency. For example, if the assessment were gathering evidence of the learner’s competency in writing, allowing the learner to complete the assessment verbally would not be a valid assessment method. The method of assessment used by any reasonable adjustment must still meet the competency requirements.[embeddoc url=”https://www.cheapassignmenthelp.co.uk/wp-content/uploads/2022/08/SITXFIN009-LearnerAssessmentPack-v1.1.docx” viewer=”microsoft”]

SITXFIN009 Manage Finances Within A BudgetResources Required for Assessment

To complete the Practical Assessment tasks, you will require access to:

  • Computer with internet and email access, and a working web browser
  • Installed software: Word, Adobe Acrobat Reader
  • A workplace, or a simulated workplace environment that will allow you access to:
    • Workplace documentation, including:
      • Organisational operating procedures
      • Organisation’s three-month budget
      • Staff and rostering requirements
      • Existing suppliers of the organisation
      • Documents containing information on the use of budget of the three-month period
      • Organisational procedures for reporting deviations in budget
      • Existing costs and resources
      • Customer service levels
    • Workplace templates, including or similar to the following:
      • Budget monitoring report
      • Budget performance report

  • People, including:

    • At least two relevant colleagues who will be involved in the following:
      • To discuss fund allocation in Workplace Assessment Task 1
      • To communicate with about the monitoring information in Workplace Assessment Task 5.
      • To discuss budget performance in Workplace Assessment Task 6.

Colleagues refer to staff members of the organisation who are responsible for implementation of activities based on allocated budget.

  • At least two relevant personnel who will be involved in the following:
    • To communicate budget allocation and resource decisions from Workplace Assessment Task 1
    • To communicate information on new approaches and recommendations for budget management in Workplace Assessment Task 7.

Relevant personnel refer to senior members of the organisation who approve budget and are responsible for the financial performance of the organisation.

  • Opportunity to:
    • Discuss fund allocation and resource decisions in the workplace with at least two appropriate colleagues
    • Promote budget awareness in the workplace

Accessing Intranet Pages

Some assessment tasksmay require you to access specific pages from the simulated business, The Continent Hotel. Links to these pages are formatted in Blue Text.

 

Question 1
Briefly explain the purpose of each type of financial record listed below.
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