This post covers Assessment Criteria Assessment, as detailed below.
BUS403 Financial Awareness (M/507/1584) BUS403 Assignment Brief Qualification QUALIFI Level 4 Diploma in Business Management 601/6048/2 Unit Code BUS403 Unit Title Financial Awareness Unit Reference M/507/1584 Credits 20 TQT 200 GLH 80 Assignment Aim The overriding aim of the unit is to provide the learner with the necessary knowledge to be able to critically evaluate the financial systems, processes and procedures in their own organisations.
Learners will gain understanding of accounting conventions, appreciate measurement for efficiency, profitability and solvency, and the different demands made by different stakeholders. Learners will gain understanding of financial commentary.
Learning Outcomes And Assignment Criteria Learning Outcomes When awarded credit for this unit, a learner will:
Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
- Explore the nature and use of financial information. 1.1 Discuss the need for financial information, its purpose, limitations and the main stakeholders interested in the information. 1.2 Identify accounting arrangements and conventions used by organisations.
- Investigate the principles and standards used to produce accounting and financial information. 2.1 Explain how accounting frameworks and regulation influence accounting and financial arrangements. 2.2 Explain the uses of published financial information.
2.3 Explain how an organisation uses management accounting practices.
- Examine financial commentary that interprets and analyses published financial information. 3.1 Explain the main items commented on and explain their importance. 3.2. Identify trends in published accounting information.
Assignment Question And Scenario Learners may use their own employment context to write an assignment based on assessment tasks. Assessment tasks are learning outcomes of the unit associated with Assessment Criteria. You are required to generate sufficient evidence on assessment criteria to meet learning outcomes of the unit within the rules, regulations and standards to achieve credits of the unit.
If you are not in employment, please use the following scenario.
Consider you are working as a Financial Manager of a small-medium sized private limited organisation, which deals with its customers all over the world to sell its products and services. Your role includes financing decisions which are mainly concerned with the acquisition of funds to be used for investing and financing day-to-day business operations. In the role of financial manager, you are evaluating the financial condition, business operations and the performance of the company by considering performance indicators of an industry and ensure that shareholders’ interest is protected all the times. You are given a task by Directors to critically evaluate, investigate, and examine the financial systems, processes and procedures of the company and suggest improvement of the financial position of the company.
Task 1 (Formative) – 600 Words Write a report in which you explain the nature and use of financial information. You must include the following:
A discussion of why financial information is needed, its purpose, and the main stakeholders interested in the information. An identification of the different accounting arrangements and conventions used by organisations. Formatting
500-700 words Justified alignment Single-spaced 12pt Times New Roman font Use an appropriate referencing system for formatting and citations Task 2 (Summative) – 550 Words Write a short investigation into the principles and standards used to produce accounting and financial information. Your answer must include:
An explanation of how accounting frameworks and regulation influence accounting and financial arrangements. (AC 2.1) An outline of the uses of published financial information. (AC 2.2) An explanation of how an organisation uses management accounting practices. (AC 2.3) Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
2.1 Explain how accounting frameworks and regulation influence accounting and financial arrangements. 2.2 Explain the uses of published financial information.
2.3 Explain how an organisation uses management accounting practices.
Formatting
500-600 words Justified alignment Single-spaced 12pt Times New Roman font Use an appropriate referencing system for formatting and citations Task 3 (Summative) – 850 Words Write your own interpretation of a piece of financial commentary that interprets and analyses published financial information. Your answer must contain:
An explanation of the main items considered, and of their importance to the article. (AC 3.) An identification of the recent trends in published accounting information. (AC 3.2) Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
3.1 Explain the main items commented on and explain their importance. 3.2. Identify trends in published accounting information.
Formatting:
800-900 words Justified alignment Single-spaced 12pt Times New Roman font Use an appropriate referencing system for footnotes and citations
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