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BSBWRT301 Write simple documents Trainer Guide BSBFIN801 - Lead Financial Strategy Development 1 | Page Abbey College Australia National Provider No. 91136| CRICOS Registration No. 02658G Version V2.0 January 2024 © 2020 RTO WorksPage 1 Online Learning Activity Guide BSBFIN801 - Lead Financial Strategy Development BSB80120- Graduate Diploma of Management (Learning) About this document This document is to be used as Online Learning Activity Guide at home/in your own time to complement the formal learning you are doing as part of your classroom or online studies. It is a requirement of your course that you complete the activities in this guide. You will need to take your notes/completed activities to class, or follow your trainer’s direction about how to complete activities. If you are unsure about anything, talk to your trainer/assessor. Online Learning Activity Guide Unit code and title BSBFIN801 Lead financial strategy development Instructions You are to complete each of the Online Learning Activity Guide below. Each activity is a mandatory part of your study. After completing each of the tasks, tick the box below to show that you have completed the activity and bring evidence of this to class to share. Activity Task Expected time Completed Watch & research Watch one of the videos from the RTO Works video series: · Risky Business Conduct your own research to answer the following questions: · Why is it important to consider the risks when developing a financial plan? · What factors can cause financial risk? · How are financial risks monitored? 9 hours Practical activity Using your personal current financial situation for this activity, set out to create SMART objectives for a short- or long-term financial plan. Write out your targets using the SMART acronym: · S - specific · M - measurable · A - achievable · R - realistic · T - time-bound 9 hours Research Research strategies that can be used for forecasting financial requirements. Research the meaning of financial forecasting and its importance in financial decision making. Which strategies work best? Take notes to share in class. 9 hours Review Review your assessment requirements for this unit and read through your Project Portfolio so you know what you will be required to do. Make sure you review your Student Guide if you need to revisit some areas of your training. Ask your trainer any questions before you begin your assessment to ensure you understand all of the learning and are ready to be assessed. 9 hours Activity Task Expected time Completed Reflection Reflect on the following: · Information learned during your training · Your main key “takeaways” from this unit · What did you learn that you didn’t know already? How can you apply this in your study/work/life? · What did you find challenging or confronting? How did you overcome these challenges or barriers? 9 hours BSBFIN801 - Lead Financial Strategy Development 1 | Page Abbey College Australia National Provider No. 91136| CRICOS Registration No. 02658G Version V2.0 January 2024 STUDENT ASSESSMENT INSTRUCTION BSBFIN801 - Lead Financial Strategy Development BSB80120- Graduate Diploma of Management (Learning) 1. Introduction Welcome to the Student Assessment Tasks. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course. Assessment Instructions to Students The following instructions are meant to be read, understood and followed by the students of Abbey College Australia prior to commencing the assessments: Your assessor will explain each assessment task and the terms and conditions relating to the submission of your assessment task. Please consult your trainer and assessor if you are unsure of any questions or if you have any special requirements, which you think should be considered to help and support you with the assessments. It is essential that you understand and adhere to the terms and conditions and address each assessment task fully. If any assessment task is not adequately addressed, then your assessment task will be returned to you for re-submission. Your assessor will remain available to support you throughout the assessment process and to support any special requirements identified by you or by the assessor. Assessment tasks are used to measure your skills and knowledge of the overall unit of competency. When undertaking any written assessment tasks, please ensure that you address the following criteria: •address each question including any sub-questions •demonstrate that you have researched the topic thoroughly •cover the subject in a logical, structured manner •your assessment tasks are well presented, well referenced and word-processed You are to complete all tasks by the due date and assessments must have a coversheet attached. If you think you do not have enough time to complete the tasks by the due date, discuss with the trainer/assessor the reasons of why you cannot submit on time. Supporting documents A number of documents have been provided to support you to complete training and assessment including: •Student Guide: The Student Guide provides you with learning content, activities and links to videos, further reading and additional material to help you to develop your knowledge and skills. •Student Assessment Tasks: The Student Assessment Tasks include the tasks themselves as well as guidance about how to complete each assessment. Submission information and relevant forms are also included. •Supporting resources: Supporting resources include templates, forms and portfolios which you can use to provide evidence of your competence. Your assessor will provide you with the relevant supporting resources when you are ready to complete assessment for each unit. You will find a list of the student resources relevant to each task in the Student Assessment Tasks. Key information Safety Regardless of the training or assessment setting, you must always work safely and comply with legislative requirements. Listen to and follow the direction of your trainer/assessor at all times. Policies and procedures The information in this document is general in nature and should always be read in conjunction with Abbey College Australia’s policies and procedures. Icons This information indicates that you will need to read information about a task and that you may need to seek further clarification or advice before beginning an assessment. This icon shows that you will need to meet with your assessor (and possibly other students) to complete a meeting or role play. This icon shows that you will need to communicate via email or send documents via email. This icon indicates that you will need to submit an item of evidence. This icon indicates that you will need to complete a practical element during a task which may include research, developing documents, brainstorming ideas and so on. i This icon indicates that information is provided about completing or submitting your assessment. Portfolio icons This icon indicates that you must attach evidence to support your written entry. 2. Preparing for assessment Preparing for assessment Much of the quality of your assessment relies on the planning and preparation that you do. Take the time to: carefully read through the whole of the assessment task and each of the supporting documents ensure that you are clear about what it is that you are expected to do. Ask your assessor for clarification if you have any questions at all be clear on the time limits and due dates for each task ensure that you have completed a Student Assessment Agreement for every unit of competency. Understand expectations You will find specific advice at the start of each assessment which will guide you in how to complete each assessment task. Make sure that you take the time to read this advice and to clarify any legislative and organisational requirements before proceeding with assessment. Always ensure that you are clear about what is expected of you. If you need support, advice or assistance, speak to your trainer, your assessor or your workplace supervisor. Time limits and due dates Your assessor will provide you with a due date for each assessment task. In some cases, you will also be required to complete an assessment within a set time limit (particularly in the case of written Knowledge Question tasks). Reasonable adjustment You are encouraged to consult with your assessor prior to attempting an assessment task if you have a learning need or issue that you require additional support with or which may hinder your ability to successfully complete the assessment. 3. Undertaking assessment Types of assessment The Student Assessment Tasks incorporate a range of assessment styles including: knowledge questions research tasks assessor observations portfolios projects, which may include case studies role plays Knowledge questions Knowledge questions are designed to help you to demonstrate the knowledge which you have acquired during the unit. Knowledge questions can be completed in a variety of ways including: in a traditional, closed-book exam style setting in the classroom in an open-book setting in the classroom. This means that you can draw on your learning materials and other resources to answer questions in an open-book setting in your own time via Abbey College Australia’s learning management system (LMS) as verbal questions if required for the purposes of reasonable adjustment. You should also refer to the section on Completing Written Assessment Tasks below for additional information. Research tasks Research tasks are provided to help you to demonstrate your ability to conduct and analyse research or to gather information. They also help you demonstrate your knowledge about a particular topic. When completing research tasks, consider the following tips. Ensure that you accurately quote your sources (including on-line sources). Use information from reliable, relevant sources. Use information sources that are current (while there are exceptions, a good guide is not more than six years old). You should also refer to the section on Completing Written Assessment Tasks below for additional information. Projects Projects are provided to help you demonstrate a range of knowledge and skills that you have developed during your course. They may be completed in your own workplace, in a simulated workplace, in the classroom or in your own time. Supporting templates and resources are usually provided to help you. They often have a range of tasks within them which will include observations and portfolio completion. You should also refer to the section on Completing Written Assessment Tasks below for additional information. Assessor observations Assessor observations are used where the unit of competency requires that you must be observed by an assessor demonstrating the skills and knowledge that you have learnt during your course. Before being observed, make sure that you read through the task information so that you understand what it is that you must demonstrate. Your assessor will advise you of when you will be observed for the purposes of assessment. Observations may be in person, via video conferring software as and when necessary/relevant (e.g. pandemic conditions or distance-based learners) or you may like to video record evidence for your assessor to watch later. When submitting video evidence ensure the quality is suitable enough for the assessor to clearly observe what you are doing and that the audio quality is sufficient. Otherwise, you may be asked to resubmit. Round table discussions Round table discussions are a fantastic way for you to discuss your own real experiences and apply them in the context of the case study. Even though you may be participating in a project based on a case study business, you have a wealth of knowledge, experience and skills that you have gathered over the course of your life that can be reflected on and applied in discussion with your peers and fellow students. These can then be discussed and applied to the project you are working on, making it more industry realistic. Role plays Role plays are used to assess your knowledge and skills where it would not be possible to provide evidence in another way. For example, many Human Resources (HR) units will require you to demonstrate competency in processes like recruitment or termination of employment. When participating in role plays, ensure that you behave as you would in real workplace. You will find more information about simulated workplaces below. Simulated workplace environments Many of the student assessment tasks that you undertake throughout your course will take place in the simulated business environment which could include your home and/or classroom. Simulated workplace tasks are designed to: reflect real life work tasks are assessed using criteria that relate to the quality of work expected by industry use authentic workplace documentation require you to work as part of a team involve the use of standard, workplace equipment (hardware, software and consumables) require you to consider usual workplace constraints such as time and budgets. You should therefore ensure that you treat simulated workplaces as real workplaces for the purposes of assessment by: communicating professionally, using industry standard language and terminology adhering to an appropriate level of dress and behaviour working in a way which is client or team focussed (as relevant to the unit) completing group work in a professional, team-oriented way behaving in a way which is consistent with current industry practice. Assessment task cover sheets You must submit a completed, signed Assessment Task Cover Sheet with each assessment. An Assessment Task Cover Sheet is provided on Moodle. File naming conventions It is important that you use a consistent file naming convention for each file that you submit. For all files that you submit throughout the assessment for this course, use the following convention: competency code task