FNSACC507 Assessment Instructions
FNSACC507 Assessment Instructions
FNSACC507 Assessment Instructions
Assessment Instructions
Table of Contents
Table of Contents 2
Assessment Schedule 3
Assessment Information 3
Assessment Instructions 4
Assessment Task 1: Ethics project 6
Assessment Task 1 Instructions 8
Assessment Task 2: 9
Assessment Schedule
Task Due Date
Learning Activity Only and Task 1 Week 1
Task 2 Week 2
Task 2 Week 3
Assessment Information
The assessment tasks for FNSACC507 Provide management accounting information are included in
this booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for
clarification if you have any questions at all.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per SCSB
assessment appeals process.
You 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.
Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessor 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.
The Assessor Checklist will be returned to you with the outcome of the individual assessment task,
which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not
satisfactory, your assessor will include written feedback giving reasons why.
If you are submitting electronically, consider giving the document a file name that includes the unit
identification number, the task number, your name and the date.
Assessment Task 1:
Task summary
This is an open book test, to be completed in the classroom. You need to answer all of the written questions
correctly.
Required
Access to textbooks/other learning materials
Computer and Microsoft Office
Access to the internet
Submit
Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
Re-submission opportunities
You will be provided feedback on your performance by the 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, the assessor will explain why, and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with
unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
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 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 2:
Task summary
For this assessment task you are required to review five case studies and complete the tasks outlined. One
of the case studies will also require you to demonstrate your oral communication skills. This assessment is
to be completed in the simulated work environment in SCSB.
Required
Deliver
Meet with the company’s bookkeeper (your assessor).
Submit
Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all
of the assessment criteria. If part of this task is not satisfactorily completed, you will be asked to complete
further assessment to demonstrate competence.
Re-submission opportunities
You will be provided feedback on your performance by the 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, the assessor will explain why, and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with
unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
Case study 1
Mehil owns a taxi business in Newcastle. He recently expanded his business by including limousines.
Mehil’s accountant has provided the following information on monthly revenues and costs:
The taxi division has monthly revenues of $3,475,000
The Limousine division generates revenues of $375,000.
Expenses of $2,656,750 were allocated to divisions based on the number of kilometres travelled.
Mehil has heard about Activity Based Costing and wants to know what benefits it could provide, so he has
obtained the following monthly information on expenses for NSW:
Taxis Limousines
Bookings 44,000 1,500
Kilometres 1,200,000 150,000
Driver hours 67,500 10,000
Mehil has identified that the main activity cost areas include salaries, vehicle costs and booking fees.
Salaries $1,360,000
Booking fees $22,750
Fuel $1,193,000
Call centre booking fees $45,500
Vehicle maintenance $35,500
1. Identify the appropriate cost pools and calculate the appropriate driver rates for the activities
listed above.
You may wish to use the following table in your answer
Cost pool Driver Driver unit Driver rate
Create a Word document for your response to this and the following activities.
Name this document FNSACC507 AT2 Activities.
Case study 2
Tomorrow Aged Care (TAC) builds and runs aged care centres.
TAC runs on very tight budgets, and a fixed construction cost for each centre of $250,000 is set.
Once TAC raises $300,000, they commission construction on the next centre.
Recently, TAC’s CFO undertook a project to determine variances to the standard construction budgets set.
Projects are expected to be completed in 26 weeks and use the following standards.
Recently GAC completed construction on a new centre in Ballarat in regional Victoria, and the following
information was obtained:
The project commenced on 1 June and was completed 32 weeks later.
GAC decided to purchase all materials from the same supplier. GAC purchased 75,000 bricks at a
total cost of $36,000 and 2,000 square metres of timber for $32,000.
GAC purchased the required pre-fabricated walls were purchased for $80,000.
The balance of project costs, including other fixed costs of $47,500 totalled $58,000.
Overall labour costs on the project were $70,000 for 1,250 hours of labour, with an even split of
hours between builders and specialists engaged.
Case study 3
Ethereal Enterprises manufactures microchips for computers. A market survey shows that a 10% reduction
in price will result in a 30% increase in sales, with variable costs per unit remaining unchanged. On the other
hand, an investment of $30,000 in machinery would reduce variable costs by $3 a unit.
6. Determine the sales volume and break-even point for each option given Majestic currently sells
10,000 units @ $20 each, has variable costs of $80,000 and fixed costs of $40,000.
Ensure you have checked all calculations for accuracy prior to submission.
7. Using the current information provided in a) as the budget for month 1 and the additional
information below, complete the 12-month budget for Majestic Enterprises. Ensure that you
have checked all calculations for accuracy prior to submission.
Sales expected to rise monthly by 10%
Variable costs to increase by 5% per month to the 6th month and then stabilise.
Fixed costs to remain stable for the first 9 months then record an increase of $10,000.
Admin expenses of $5,000 to be incurred in the first month with a 2% increase per month.
Case study 4
Mixed Meats Industries is a fine food company producing burgers and sausages.
It has 300 staff who work 8 hours a day, 5 days a week for 50 weeks per year.
The demand for burgers and sausages does not exceed 50,000 and 150,000 kilos respectively per year.
Currently, Mixed Meats receives $10 for one kilo of burgers, and $15 for one kilo of sausages.
Fixed factory overheads are applied on the basis of direct labour hours @$1 per hour.
Mixed Meats Industries is interested in maximising its profit and wants to know what the most profitable mix
of sausages and hamburgers.
Before going to this meeting, make sure that you know which information you need from the bookkeeper.
Case study 5
Gluten Free Gangsters (GFG) is a small company that imports, manufactures and wholesales gluten free
foods. GFG products are minimally processed and contain no artificial additives. In a world with growing
interest in premium quality foods, GFG invests heavily in research and is building a reputation for its quality
goods.
GFG has always invested heavily in Research and Development, and the R&D budget is currently $20
million per annum. It employs a senior food scientist, five junior scientists and two administration staff. The
goal of the R&D department is to develop high quality new products that are then tested and found to be
acceptable for human consumption by an external quality testing agency. The agency provides specific
feedback on the products and has even rejected products in the past. A rejected product results in high
additional costs or severe losses to GFG.
10. Identify two key KPI’s for the Board to consider for each of the internal process and the learning and
growth quadrants of the balanced scorecard for the R&D department.