Budget
Assessment Task
Practical activity
The following task must be demonstrated in an operational tourism, travel, hospitality or events
environment where financial transactions are processed with access to customers, this may be an
industry workplace with real clients, or a in SCA simulated environment with individuals who
participate in role plays or simulated activities.
Submission requirement:
• prepare a budget for a business that meets the specific business’ needs, and monitor and review
the budget against its performance over its life cycle.
Required:
You will require access to and the use of:
• Computers, printers and accounting software packages
• Financial and operational data and reports used to prepare budgets
• Others with whom you can discuss and negotiate draft and final budget components with; these
can be:
• Those in an industry workplace who are assisted by the individual during the assessment process
• Individuals who participate in role plays or simulated activities, set up for the purpose of
assessment, in a simulated industry environment operated within a training organisation
Assessment Criteria:
For this task you are to prepare a budget for a business that meets the specific business’ needs, and
monitor and review the budget against its performance over its life cycle.
You will need to perform each of the following steps to prepare the budget information:
• Determine the scope and nature of budgets that are required and confirm with relevant personnel.
• Identify and document the data and data sources required for the budget preparation.
• Access and interpret the data required for the budget preparation. Document the interpretation.
• Identify and analyse any internal and external factors that may potentially impact on the budget.
Document the analysis.
• Consult with and provide opportunities for colleagues to contribute to budget planning process.
Complete the following steps to prepare and draft the budget within the designated timelines:
• Draft the budget based on your analysis of all available information.
• Estimate the income and expenditure of the business, and support this estimate with valid, reliable
and relevant information. Document the estimation and support.
• Ensure to reflect the organisational objectives within the draft budget. Document the reflection.
• Assess all relevant options and recommendations, and present them in in a clear format.
• Circulate the draft budget to all colleagues and managers for input.
Perform each of the following steps to finalise the budget within the designated timelines:
• Follow organisational policies and procedures to negotiate the budget with relevant personnel.
• Agree on modifications with relevant personnel, and incorporate them into the budget.
• Complete the final budget in a clear format and within the designated timelines.
• Inform colleagues of the final budget decisions and their applications within all relevant work
areas, including informing them of new or changed reporting and financial management
responsibilities.
Once you have developed your budget, you will need to complete the following steps to monitor
and review the budget against performance over its life cycle:
• Review the budget on a regular basis to assess the actual performance against the estimated
performance.
• Prepare accurate financial reports.
• Incorporate all financial commitments into budget and budget reports.
• Investigate and take appropriate action on identified significant deviations.
• Analyse any changes in the internal and external environment, and make any necessary
adjustments.
• Collect and record all relevant information to assist in future budget preparation activities.
Develop and manage
ASSESSMENT TASK 2
Practical activity
In this task student required to attend a mandatory practical class and need to complete a practical
activity in front of the assessor. Your assessor will assess your knowledge and competency on the
unit based on the activity in the practical class.
Submission requirement:
• Research, develop and manage quality customer service practices for at least three (3) different
areas of the business that meet industry standards.
• Implement and monitor practices for quality customer service in line with above policies and
procedures over four (4) service periods.
Perform the following actions to develop quality customer service practices:
• Obtain and document information on customer needs, expectations and satisfaction levels using
both formal and informal research.
• Provide opportunities for customers and staff to give feedback on products and services.
• Review and document changes in internal and external environments and integrate findings into
planning for quality service.
• Provide opportunities for staff to participate in development of customer service practices.
• Develop policies and procedures for quality service provision.
Complete the below steps to manage delivery of quality service:
• Communicate policies, procedures and expectations to staff.
• Make policies readily available to customers and staff.
• Monitor customer service in the workplace to ensure standards are met.
• Initiate staff training to enhance customer service.
• Take responsibility for service outcomes and dispute resolution.
• Act as a positive role model for professional standards expected of service industry personnel.
Perform the below actions to monitor and adjust customer service, evaluating practices for quality
service provision and identifying any failings:
• Seek ongoing feedback from staff and customers to improve performance.
• Assess and document the effectiveness of customer service practices.
• Identify systemic customer service problems and adjust policies and procedures to improve service
quality. Document the identified problems and adjustments made.
• Develop, document and communicate new approaches to customer service to staff involved in
service delivery.
Financial transaction
Assessment Task 2
Practical activity
The following task must be demonstrated in an operational tourism, travel, hospitality or events
environment where financial transactions are processed with access to customers, this may be an
industry workplace with real clients, or a in SCA simulated environment with individuals who
participate in role plays or simulated activities.
Submission requirement:
• Receive, check and accurately record the cash float
Required:
You will require access to and the use of:
• Point-of-sale equipment and software currently used to process and reconcile financial
transactions.
• Current commercial procedures and documentation for the processing of financial transactions.
• Cash and other forms of payments.
Assessment Criteria:
The following task will need to be conducted over three (3) different work or service periods. To
prepare for the task on each work or service period, complete the following step:
• Receive, check and accurately record the cash float
Throughout each the three (3) service periods, you will need to complete the following steps to
demonstrate your ability to process at least six (6) different financial transactions, ensuring that the
customers are served effectively:
• Determine the types of financial transaction, (must include at least three (3) of the following across
all the transactions processed) and check the customers payment against the sale value:
a. Advance payment
b. Application of goods and services tax (GST)
c. Payments:
i. Cash
ii. Cheque
iii. Credit card
iv. Electronic funds transfer at point of sale (EFTPOS)
d. Deposit
e. Foreign currency
f. Petty cash disbursement
g. Refund
h. Traveller’s cheque
i. Voucher
• For payments made in cash, provide the customer with the correct change
• Process the transaction and record it according to organisational procedures
• Prepare and issue the client with an accurate receipt that includes all relevant tax details
• Complete the transaction using the appropriate software applications and in line with all
organisational speed and customer service requirements
Perform the following steps to reconcile the takings after each work or service period:
• Prior to balancing, and at the designated time, separate the cash floats from the takings.
• Balance the customer payments, according to organisational policy
• Determine the point-of-sale records of customer payments
• Accurately count and calculate the customer payments
• Balance the cash and other payments with the point-of-sale records, noting any discrepancies
• According to your level of responsibility, investigate or report discrepancies in the reconciliation
• Record the takings according to the organisational pro
