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SCA - SITXFIN003 Assessment - A Short Answer

This document provides details of an assessment for a unit on managing finances with a budget. It includes 20 short answer questions to assess knowledge of concepts and techniques for enhancing customer service experiences. Students must correctly answer all questions within the time frame set by the assessor to be deemed satisfactory. Access to learning resources and the internet is required to complete the questions.

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littlebambi
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915 views4 pages

SCA - SITXFIN003 Assessment - A Short Answer

This document provides details of an assessment for a unit on managing finances with a budget. It includes 20 short answer questions to assess knowledge of concepts and techniques for enhancing customer service experiences. Students must correctly answer all questions within the time frame set by the assessor to be deemed satisfactory. Access to learning resources and the internet is required to complete the questions.

Uploaded by

littlebambi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSESSMENT TASK 1

Assessment Details
Qualification SIT40516 Qualification Certificate IV in Commercial Cookery
code Name
Unit Code SITXFIN003 Unit Name Manage Finances with a Budget

Assessment Short Answer Questions Due


Type Date

Assessment Information
Welcome to your student assessment for the unit SITXCCS007 ENHANCE CUSTOMER SERVICE
EXPERIENCES
This student assessment is where you will write all your answers for the knowledge questions. Please refer to
the information below relate to the write short answer questions.

To Achieve Competence:
To be deemed competent for this unit, you will need to meet the following conditions:
 Complete all of the task(s) and criteria set below, and ensure that your responses are relevant,
accurate and specific.
 Submit your completed work to your assessor electronically
 perform the above task within the time frames given by your assessor (note: or have been allowed for
arranged time by your assessor where they see fit)
 your work must be you own work and in your own words
 where you use external source, you must reference and/or provide citation

Assessment Instructions
There are 20 short answer questions that will provide us with evidence on your general knowledge of concepts
and techniques of enhancing service experience.
Please note, that your responses for you short answer question can (where appropriate) use dot point format.
 You are required to answer all questions.
 Read each question carefully. Ensure you have provided all required information.
 On completion, submit your assessment via the LMS to your assessor.
 These questions assess the knowledge evidence required for this unit.
 Should you require ‘reasonable adjustment’ to complete this assessment, discuss the options with your
assessor prior to attempting the task. Reasonable adjustment means modifications or changes that give you
the same opportunities in training as a person without a disability.
 Your assessor will discuss the conditions of assessment, e.g., open or closed book, time limits for
completion, etc., with you prior to attempting this task.
 To be deemed satisfactory in this task you are required to answer all questions correctly. Your assessor will
determine how many attempts are allowed for each question.
 You will require access to the learner resource for this unit, the internet and a computer (if submitting via
LMS) or a pen (if submitting hard copy).

SCA_SITXFIN003 Manage Finances with a Budget.AT1.V2. Date:8/01/2020 Page 1 of 4


RTO:45062 CRICOS:03565E
Questions:
Q1. When owning and operating any business, whether it’s a café or a pool-cleaning business, it’s
very important that you know exactly what your income and expenditure are. Is your business making
money or not? List eight financial records that will provide you with this information

Q2. There are many different types of budgets to suit the different types of business operations.
List the eight types of budgets you could use.

Q3. Most financial and statistical reports focus on key areas of the business: sales, revenue, expenses
and performance. The information provided varies based on the type of report, its focus and who
it will be distributed to.
Complete the table below with three examples of statistical information required for the following
reports.

Daily revenue summary for front


office of a hotel

Weekly budget performance report


for a kitchen

Monthly revenue report for a travel


agency

SCA_SITXFIN003 Manage Finances with a Budget.AT1.V2. Date:8/01/2020 Page 2 of 4


RTO:45062 CRICOS:03565E
Monthly sales analysis report for a
reception centre

Q4. List four options you might consider to help manage budget deviations effectively..

Q5. What information might you need to include when preparing a statistical or financial report for
your supervisors in a suburban hotel which has multiple departments? List five examples.

Q6. How do you know when to complete reports?

Q7. What is a budget cycle? List the three common cycles used and their dates.

Q8: What is one benefit of using computerised systems to maintain financial records?

Q9. You are to calculate the shopping list below and answer the following question below.

Seafood Qty per week Price per unit ($) Total per week
($)

Prawns – Large Whitsunday wild peeled raw 15 kg 100.00

Whiting – Qld sand 10 kg 32.00

Atlantic salmon – raw fillet 30 kg 39.00

Squid tube rings - raw 8 kg 26.00

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RTO:45062 CRICOS:03565E
Flake (Mako) – raw fillet 35 kg 20.00

Total cost of seafood per week

Total spend seafood per month (Total per week x 4) (A)

Food purchases May Actual (B) 45,864

% seafood spend of total food purchases budget (A ÷ B) x 100

 Discuss techniques that you would use to reduce costs with an existing supplier to inform and assist in
the management of organisational budgets.

SCA_SITXFIN003 Manage Finances with a Budget.AT1.V2. Date:8/01/2020 Page 4 of 4


RTO:45062 CRICOS:03565E

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