BSBFIM601 Manage Finances

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BSBFIM601 Manage Finances – Assessment 1 Last Updated: October 2016, V. No. 1.1

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ASSESSMENT 1 – Project

Submission details

The Assessment Task is due on the date specified by your trainer. Any variations to this arrangement must be approved in writing by your trainer. Submit this document with any required evidence attached. See specifications below for details. You must submit both soft copies and printed copies of your answers. Soft copies- Upload on the eLearning to the specific submission folder with a cover page clearly indicating your name, student id, assessment no and the unit name or put those information in the header and footer of your documents. Printed copies- Submit to your Trainer with the “Assessment Cover Sheet” (Filled out and signed appropriately) attached on top of your documents.

Description

This assessment consist of three parts

PART A You are to research and prepare the following revenue, expenditure and capital investment proposals for a business or strategic opportunity of your choice. This opportunity must be for a business that, as a minimum has:

 Start-up capital

 Overheads including rent, wages, stock, etc

 Scope for growth Your strategic opportunity may include one of the following:

 New product / service development

 New models / revisions of products / services

 Expansion / contraction of operational activities

 Alliances / joint ventures

 Outsourcing / in sourcing

 New business opportunities The reports must include:

 Financial budgets including start-up capital

 Projected profit & loss for 12 months

 Cash flow plans

 Capital expenditure budgets When undertaking this assessment task, you must:

 

 

 

BSBFIM601 Manage Finances – Assessment 1 Last Updated: October 2016, V. No. 1.1

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 Express your strategic opportunities in term of tactical and operational objectives

 Convert these opportunities into special projects or work programs

 Analyse financial trends, and interpret them in context of your objectives

 Clearly outline your financial planning objectives, process timeframes and resources.

 Consult with all relevant persons / groups when developing your proposals

 Consider past experiences, present trends and future expectations

 Show how your proposal is linked to your organisational strategic objectives

 Incorporate a realistic cost benefit and risk analyses / management plan into all proposals

 Detail your organisational investment target rates for capital expenditure proposals

 Identify performance measures and tactics for monitoring and control processes for each proposal / action

 Describe how your proposals comply with your organisations values, policies, code of conduct, and legal / ethical obligations

 Submit your proposal within the time-frame set by your assessor

 Provide supporting evidence (cost/benefit analyses, risk management plans, market research results, net present values, interest rate of return, pay pack calculations, etc)

The trainer/assessor must discuss the proposed business opportunity with the candidate prior to commencing with this assessment.

PART B Next, you are to develop the budgets and plans for your proposals developed in PART A. Throughout this process, you assessor will act as your supervisor for all negotiations required. In developing the budgets and plans proposed, you are to include details on how:

 Negotiation was undertaken with relevant groups and individuals in ways to build commitment to the plans

 You identified and agreed on the links to the achievement of organisation strategies

 Your negotiated with your supervisor (your assessor) to obtain a clear agreement of the matters to be incorporated into the budgets and plans

Your budgets and plans should:

 Show all outcomes confirmed in terms of clear, concise objectives and timeframes

 Incorporate the outcomes of your negotiations and meet your organisations approval process

 Provide written confirmation of all delegations, accountabilities and responsibilities

 Be clearly documented and include a communication plan Throughout this project you need to communicate clearly with your trainer/assessor. You are to demonstrate professionalism with all communications, as you will be representing your company and position. Trainer/assessor will role-play the position of supervisor, and all parties required for negotiation in order to demonstrate competency in this unit.

 

 

 

 

BSBFIM601 Manage Finances – Assessment 1 Last Updated: October 2016, V. No. 1.1

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PART C Now you are to take your completed PART A and PART B and arrange an appointment with your assessor, who will role-play a finance specialist. In this meeting, you are to

 Manage the meeting direction and progress

 Discuss with the finance specialist the aspects of your budgets / financial plans (the package)

 Have your package reviewed, ensuring your validate your reasons and proposals

 Amend / revise your package as appropriate You must now:

 Detail in writing all delegations and budget accountabilities for implementation and management of your package

 

 Develop a written procedure that details the recording systems and documentation process you will follow for monitoring and controlling all activities against your plans.

 

 Develop a risk management and contingency plan for all your proposed financial plans; along with a policy and procedure to be followed when implementing these plans

 

 Develop a policy and procedure that outlines proper maintenance of records of financial performance and provides for evaluation of the effectiveness of your financial management process

The trainer/assessor will be available to role play were required for this assessme

 
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Nutrition

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Last week you were introduced to nutrition and the components of a healthy diet. This week you are learning about digestion and carbohydrates. Digestion is the process by which our body breaks down the foods we eat to provide obtain its energy, essential nutrients and other chemicals that are critical for life. Understanding the digestive process will help you evaluate the myriad of nutrition claims we are confronted with every day.

Our body makes energy from the carbohydrate we eat and drink.  Glucose is our body’s preferred energy source, but fatty acids provide an alternative energy source when needed.  This forum will explore deeper several topics related to digestion and carbohydrate.

Your initial forum must be at least 250 words, posted by Tuesday11:55 pm EST, and contain at least one outside, reputable reference. You need to state your thesis and support it with at least one outside, reputable reference. Your textbook is not an outside reference. Remember, there is no right or wrong. Before you post your initial forum discussion, submit it in the assignment area so its originality will be checked by turnitin.com. I will take points off if you do not do this. Before you post your discussion, make sure your originality index (%) is less than 15. If it is greater than 15, rewrite your discussion, submit it again in the assignment area and check the %. Keep doing this until your % is less than 15. Only post your discussion when the % is less than 15.

Once you have posted your initial forum discussion, you must reply to at least two other learner’s post.  Each post must be a different topic.  So you will have your initial post from one topic, your first follow-up post from a different topic and your second follow-up post from one of the other topics.  Of course, you are more than welcome to respond to more than two learners. Your follow-up post must be posted by Sunday 11:55 pm EST.

If your last name starts with, then you will discuss…

First Letter of Last Name

Topic

A through F

Topic 1

G through L

Topic 2

M through R

Topic 3

S through Z

Topic 4

Topic 1:  Should a product be labeled as Genetically Modified (GM) if it contains an ingredient that has been genetically modified? Currently, the FDA requires a GM food to be labeled as such only if there is a substantial difference in nutrient content, the food contains an allergen that would not normally be present, or the food contains a toxicant beyond a certain limit. Do you think consumers should know if their food contains GM ingredients? What are some of the advantages and disadvantages of labeling foods as either containing GM ingredients or as “GM free”? How would you use this information?

Topic 2:  Your friend wants to know what is riskier: the bacteria present in food or the additives listed on the food label. How would you respond? On what information would you base your conclusion?

Topic 3: Mary is going to cleanse her gut.  She is thinking of using laxatives and enemas every other week.  What reasons would you give her to steer clear of the regime? What are some possible harmful effects?

Topic 4: Mike was recently diagnosed with type 2 diabetes.  He is feeling good and has not noticed any changes in his health.  Sam, his twin, has not been diagnosed with type 2 diabetes.  They both like the same activities and foods. Mike does not understand why he has diabetes, but his brother does not and why he has not had any noticeable symptoms. How would you explain this to him?

Your initial forum and follow-up forums will be graded based on the following rubric.

Note that my topic is Number 3

 
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A Philosophy of Multicultural Education

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Assignment A Philosophy of Multicultural Education
Due Week 3 and worth 270 points

Create a Prezi presentation in which you propose a short training demo for new teachers, selecting one (1) philosophical approach to multicultural education as described by the author. Use multicultural resources of your choice to support your examples.

Create a fifteen to thirty (15-30) slide Prezi presentation in which you:

1.Create a section (five to ten [5-10] slides) in which you:

a.Compare and contrast three to five (3-5) diversity approaches, focusing on their application to a classroom environment.
b.Analyze key instances in which you have experienced each diversity approach in action in your own life, focusing on events that took place in a K-12 environment.
c.Provide between three to five (3-5) images that demonstrate diverse classrooms in each instance discussed in the question above.

2.Create a section (five to ten [5-10] slides) for multicultural approaches in which you:

a.Design a unit that relates to your grade level and area of instruction that focuses on the approach to multicultural education you have selected.
b.Choose resources that could be used to deliver this unit. Consider the use of any appropriate adaptive learning technologies as well as incorporating International Society for Technology in Education (ISTE) National Educational Technology Standards (NETS).
c.Recommend at least three (3) strategies that teachers can choose from to integrate multicultural techniques into their classrooms.

3.Create a section (five to ten [5-10] slides) for philosophies of multicultural education in which you:

a.Create a diagram that demonstrates your personal philosophy of multicultural education and its major applications to a K-12 curriculum.
b.Determine which evaluation criteria you would use to examine the effectiveness of a multicultural curriculum.

Your assignment must follow these formatting requirements:

  • Follow APA for formatting guidelines. Check with your professor for any additional instructions.
  • Include a cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover slide and the reference page are not included in the required assignment page length.

Directions for submitting your presentation:

  • Submit your presentation to the area designated by your professor.
  • Review at least two (2) other classmates’ presentations and post a response indicating what you learned by identifying two (2) specific points that were made in the presentation.

The specific course learning outcomes associated with this assignment are:

  • Formulate a personal and professional philosophy with respect to multicultural education.
  • Examine and analyze various diversity approaches and apply them to the learning environment.
  • Identify instructional strategies that are applicable to the K-12 diverse learning environment.
  • Use technology and information resources to research issues in diversity in K-12 education.
  • Write clearly and concisely about diversity in K-12 education using proper writing mechanics.
 
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Operations Management Quiz

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9/4/2015 Assignment Print View

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1. Award: 25 out of 25.00 points

 

Score: 100/100 Points 100 %

Problem 3-2

National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven­month period were as follows:

Month Sales

(000)Units   Feb. 19   Mar. 18   Apr. 15   May 20   Jun. 18   Jul. 22   Aug. 20

b. Forecast September sales volume using each of the following:

(1) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.)

 

Yt 20.86   thousands

(2) A five­month moving average.

Moving average 19   thousands

(3) Exponential  smoothing  with  a  smoothing  constant  equal  to  .20,  assuming  a  March  forecast  of 19(000). (Round your intermediate calculations and final answer to 2 decimal places.)

 

Forecast 19.26   thousands

(4) The naive approach.

Naive approach 20   thousands

(5) A weighted average using .60 for August, .30 for July, and .10 for June. (Round your answer to 2 decimal places.)

 

 

 

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Weighted average 20.40   thousands

 

 

References

Worksheet Learning Objective: 03­07 Use a naive method to make a forecast.

Learning Objective: 03­10 Prepare an exponential smoothing forecast.

Problem 3­2 Learning Objective: 03­08 Prepare a moving average forecast.

 

Problem 3-2

National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven­month period were as follows:

Month Sales

(000)Units   Feb. 19   Mar. 18   Apr. 15   May 20   Jun. 18   Jul. 22   Aug. 20

b. Forecast September sales volume using each of the following:

(1) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.)

 

Yt 20.86 ± 0.10  thousands

 

(2) A five­month moving average.

Moving average 19  thousands

(3) Exponential  smoothing  with  a  smoothing  constant  equal  to  .20,  assuming  a  March  forecast  of 19(000). (Round your intermediate calculations and final answer to 2 decimal places.)

 

Forecast 19.26 ± 0.10 thousands

 

 

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2. Award: 25 out of 25.00 points

 

(4) The naive approach.

Naive approach 20  thousands

(5) A weighted average using .60 for August, .30 for July, and .10 for June. (Round your answer to 2 decimal places.)

 

Weighted average 20.40 ± 0.01 thousands

 

Explanation:

b. (1)

t Y tY 1 19 19 2 18 36 3 15 45 4 20 80 5 18 90 6 22 132 7 20 140 28 132 542

with n = 7, Σt = 28, Σt2 = 140

b = nΣty − ΣtΣy

= 7(542) − 28(132)

= .50 nΣt2 − (Σt)2 7(140) − 28(28)

a = Σy − bΣt

= 132 − .50(28)

= 16.86 n 7

For Sept., t = 8, and Yt = 16.86 + .50(8) = 20.86 (000)

(2) MA5 =

15 + 20 + 18 + 22 + 20 = 195

(3)   Month Forecast =   F(old) + .20 [Actual − F(Old)]     April   18.8     =   19 +           .20 [18 − 19]   May   18.04 =   18.8 +           .20 [15 − 18.8]   June   18.43    =   18.04 +           .20 [20 − 18.04]   July   18.34    =   18.43 +           .20 [18 − 18.43]   August   19.07    =   18.34 +           .20 [22 − 18.34]   September  19.26    =   19.07 +           .20 [20 − 19.07]

(5)   .60(20) + .30(22) + .10(18) = 20.40

 

 

 

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Problem 3-3

A dry  cleaner  uses  exponential  smoothing  to  forecast  equipment  usage  at  its main  plant.  August  usage was  forecasted  to  be  88  percent  of  capacity;  actual  usage  was  89.6  percent  of  capacity.  A  smoothing constant of .1 is used.       a. Prepare a forecast for September. (Round your answer to 2 decimal places.)

Forecast for September 88.16   percent of capacity         b. Assuming actual September usage of 92 percent, prepare a  forecast  for October usage.(Round  your

answer to 2 decimal places.)

Forecast for October 88.54   percent of capacity

 

References

Worksheet Problem 3­3 Learning Objective: 03­10 Prepare an exponential smoothing forecast.

 

Problem 3-3

A dry  cleaner  uses  exponential  smoothing  to  forecast  equipment  usage  at  its main  plant.  August  usage was  forecasted  to  be  88  percent  of  capacity;  actual  usage  was  89.6  percent  of  capacity.  A  smoothing constant of .1 is used.       a. Prepare a forecast for September. (Round your answer to 2 decimal places.)

Forecast for September 88.16 ± 0.05  percent of capacity         b. Assuming actual September usage of 92 percent, prepare a  forecast  for October usage.(Round  your

answer to 2 decimal places.)

Forecast for October 88.54 ± 0.05  percent of capacity

Explanation:

a. 88 + .1(89.6 − 88) = 88.16

b. 88.16 + .1(92 − 88.16) = 88.54

 

 

 

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3. Award: 25 out of 25.00 points

Problem 3-4

An electrical contractor’s records during the last five weeks indicate the number of job requests:                      Week: 1 2 3 4 5   Requests: 20 22 18 21 22        Predict the number of requests for week 6 using each of these methods:       a. Naive.

Number of requests 22           b. A four­period moving average. (Round your answer to 2 decimal places.)

Number of requests 20.75

c. Exponential smoothing with α = .30. Use 20 for week 2 forecast. (Round your intermediate

calculations and final answers to 2 decimal places.)

Number of Requests   F3 20.6         F4 19.82         F5 20.17         F6 20.72

 

References

Worksheet Learning Objective: 03­07 Use a naive method to make a forecast.

Learning Objective: 03­10 Prepare an exponential smoothing forecast.

Problem 3­4 Learning Objective: 03­08 Prepare a moving average forecast.

 

Problem 3-4

 

 

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4. Award: 25 out of 25.00 points

An electrical contractor’s records during the last five weeks indicate the number of job requests:                      Week: 1 2 3 4 5   Requests: 20 22 18 21 22        Predict the number of requests for week 6 using each of these methods:       a. Naive.

Number of requests 22          b. A four­period moving average. (Round your answer to 2 decimal places.)

Number of requests 20.75 ± 0.01

c. Exponential smoothing with α = .30. Use 20 for week 2 forecast. (Round your intermediate

calculations and final answers to 2 decimal places.)

Number of Requests   F3 20.6 ± 0.05        F4 19.82 ± 0.05        F5 20.17 ± 0.05        F6 20.72 ± 0.05

Explanation:

b. 22 + 18 + 21 + 22 = 20.754

c.   F3 = 20 + .30(22 − 20) = 20.6   F4 = 20.6 + .30(18 − 20.6) = 19.82   F5 = 19.82 + .30(21 − 19.82) = 20.17   F6 = 20.17 + .30(22 − 20.17) = 20.72

 

Problem 3-32

A manager has just received an evaluation from an analyst on two potential forecasting alternatives. The analyst is indifferent between the two alternatives, saying that they should be equally effective.         Period: 1 2 3 4 5 6 7 8 9 10   Data: 37 39 37 39 45 49 47 49 51 54   Alt. 1: 36 38 40 42 46 46 46 48 52 55   Alt. 2: 36 37 38 38 41 52 47 48 52 53

 

 

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What would cause the analyst to reach this conclusion? (Round your answers to 2 decimal places.)             MAD1 1.60       MAD2 1.50       MSE1 3.78       MSE2 3.89       rev: 11_18_2014_QC_59428

 

References

Worksheet Learning Objective: 03­15 Construct control charts and use them to monitor forecast errors.

Problem 3­32 Learning Objective: 03­16 Describe the key factors and trade­offs to consider when choosing a forecasting technique.

 

Problem 3-32

A manager has just received an evaluation from an analyst on two potential forecasting alternatives. The analyst is indifferent between the two alternatives, saying that they should be equally effective.         Period: 1 2 3 4 5 6 7 8 9 10   Data: 37 39 37 39 45 49 47 49 51 54   Alt. 1: 36 38 40 42 46 46 46 48 52 55   Alt. 2: 36 37 38 38 41 52 47 48 52 53          What would cause the analyst to reach this conclusion? (Round your answers to 2 decimal places.)             MAD1 1.60 ± 0.05      MAD2 1.50 ± 0.05      MSE1 3.78 ± 0.05      MSE2 3.89 ± 0.05      rev: 11_18_2014_QC_59428

Explanation:

 

 

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Period Actual Forecast 1 Forecast 2 error 1 error 2  e12   e22 |e1| |e2| 1 37 36 36 +1 +1 1 1     1     1     2 39 38 37 +1 +2 1 4     1     2     3 37 40 38 –3 –1 9 1     3     1     4 39 42 38 –3 +1 9 1     3     1     5 45 46 41 –1 +4 1 16     1     4     6 49 46 52 +3 –3 9 9     3     3     7 47 46 47   1   0 1 0     1     0     8 49 48 48   1 +1 1 1     1     1     9 51 52 52 –1 –1 1 1     1     1     10 54 55 53 –1 +1 1 1     1     1

Total       –2 +5 34 35     16     15

MSE1 =

34 = 3.789     MSE2 =

35 = 3.899     MAD1 =

16 = 1.610      MAD2 =

15 = 1.510    Both forecasting methods have MADs that are approximately equal (MAD1 = 1.6, MAD2 = 1.5), and MSEs that are also approximately equal (MSE1 = 3.78, MSE2 = 3.89).

 

 
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