Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Bsbfim601 assessment answers

29/12/2020 Client: saad24vbs Deadline: 12 Hours

BSBFIM601 Manage Finances – Assessment 3 Last Updated: October 2016, V. No. 1.1


Page 1 of 3


ASSESSMENT 3 (online assessment) – Research and questioning (verbal)


 It is mandatory that you do 25% (at least 5 hours per week) of course study online


outside the scheduled class time. For this purpose numbers of study materials


including a list of online study resources links have been uploaded on the BIA e-


learning site.


 Please use your online study time and uploaded study materials to answer following


questions.


 You must achieve “Satisfactory” result for this activity to be overall “Competent” for


the unit/subject.


 Upload your answer sheet on the e-learning site and also submit a printed copy to


your Trainer with the “Assessment Cover Sheet”


 The Trainer/Assessor will also ask any of these questions and you must adequately explain it according to your submitted answers.


 The Trainer/Assessor may further prompt and question in order to receive answers of appropriate quality.


Assessment questions:


1. In your own words, describe responsibility accounting? 2. Detail 4 different types of budgets, and their purposes. 3. What information would you require to plan and prepare a budget for a new


business? Detail where this information would come from. 4. Describe what external factors should be taken into consideration when planning


and preparing a budget. 5. What are the financial reporting cycles relevant to your Industry? 6. Describe 2 different capital investment evaluation techniques 7. What steps would you take to effectively implement the budget into a team


environment? 8. What are INCOTERMS? Describe the following INCOTERMS codes.


 Departure (Group E) FCA – Free Carrier


 Main Carriage Paid By Seller (Group C) CIF - Cost, Insurance And Freight


 Arrival (Group D)


BSBFIM601 Manage Finances – Assessment 3 Last Updated: October 2016, V. No. 1.1


Page 2 of 3


DAF – Delivered At Frontier 9. What is the trades practice Act? 10. What is the Warsaw Convention? 11. What is the World Trade Organisation? 12. What are Bilateral and Regional Free Trade Agreements? 13. What is meant by financial probity? 14. What records need to be kept for the ATO for a small business with an annual


turnover of less than $2million (cash basis) 15. Consider the following information:


As an accountant to a large production firm, John looks at a proposal to purchase a $900,000 stamping machine to increase output. He determines the following information:


• The new machine can do 100 more units per hour • The 4 workers currently doing the stamping can be replaced • The units will be higher quality because they are more uniform


John calculates the selling price of the 100 units per hour multiplied by the number of production hours per month, plus adding the 3% that aren’t rejected due to the increased quality of the machine output vs. manual stamping. He adds the monthly wages of the workers that are no longer required and in the end you have a healthy benefit calculated. John then calculates the monthly cost of the machine by dividing the purchase price by 12 months per year and divides that by 10 years the machine should last. The manufacturer’s specs state the power consumption of the machine and John calculates the cost of that as well. He subtracts the total cost figure from the total benefit figure and this shows a healthy benefit calculated.


a. Consider the above example of cost benefit analysis. Do you think John has done a good job in calculating the benefit of the machine? Has he used the information at his disposal correctly?


b. Consider the costs of the new machine. Has John factored in all associated costs? If


not, what has he left out?


16. Calculate the Equivalent Annual Cost of the following 2 machine purchases to determine which would be the better investment.


Machine 1: • Investment Cost: $50,000 • Expected Lifespan: 3 years • Annual Maintenance: $13,000


Machine 2: • Investment Cost: $150,000 • Expected Lifespan: 8 years


BSBFIM601 Manage Finances – Assessment 3 Last Updated: October 2016, V. No. 1.1


Page 3 of 3


• Annual Maintenance: $13,000 • : $7,500


Cost of Capital = 5%


17. Identify and compare a minimum of 3 commercially available financial management software for its appropriateness within their current employer or projected business. You need to consider their-


 Price


 Usability


 Features and functions


 Compatibility with other programs


 Compatibility with other specialists


Applied Sciences

Architecture and Design

Biology

Business & Finance

Chemistry

Computer Science

Geography

Geology

Education

Engineering

English

Environmental science

Spanish

Government

History

Human Resource Management

Information Systems

Law

Literature

Mathematics

Nursing

Physics

Political Science

Psychology

Reading

Science

Social Science

Home

Blog

Archive

Contact

google+twitterfacebook

Copyright © 2019 HomeworkMarket.com

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

University Coursework Help
Helping Hand
Best Coursework Help
Homework Guru
Writer Writer Name Offer Chat
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$112 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$110 Chat With Writer
Best Coursework Help

ONLINE

Best Coursework Help

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$110 Chat With Writer
Homework Guru

ONLINE

Homework Guru

Hi dear, I am ready to do your homework in a reasonable price and in a timely manner.

$112 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

(DQ) Biz News - Place! - Ati maternal newborn remediation - Major losses in pipes - Discussion board - Stream england vs new zealand rugby - Appliance warehouse phoenix - Introduction to Ethics - How organizational behavior is related to management - Essay about using phones in school - What is pinch effect - Pearson hot water heater - Minimum average roll value - Lab manual for understanding food 4th - What are some homographs - How to solve step functions - Coordinate bond examples list - Engine warning display a320 - Manufacturing statements and cost behavior - Water conservation methods in australia - Pico question examples stroke - Tyco sidewall sprinkler standard coverage - Read the passage from the latin deli an ars poetica - How do I configure Comcast email account? - Examples of irony in the lottery by shirley jackson - Utas harvard referencing nursing - Key club secretary duties - Koi edu au moodle - Disaster recovery plan team roles - Soluble and insoluble ionic compounds - 1 page - How are microorganisms destroyed by moist heat by dry heat - Post homework questions online - John oliver chickens - Fire riser room requirements - Queensland kindergarten funding scheme - Beckman du 530 spectrophotometer manual - The allocation of a plant asset's cost to expense over its useful life is called ________. - Operational Excellence - 115.4 kg in stone - As 4120 code of tendering pdf - Tour itinerary sri lanka pdf - Fitbit business plan pdf - Www officedepot com forward slash feedback - Jane eyre sparknotes chapter 5 - Psychcentral com quizzes personality start php - Acetic acid and sodium hydroxide titration equation - Kernel holding sa luxembourg - Thermann 25l hot water unit - Erp hr module flowchart - Perth rock and roll gig guide - Is oobleck a crystalline or amorphous solid - Gen 499 week 3 assignment - Cujo dog minding darwin - Gilwell halls plymouth address - Poem barbie doll marge piercy analysis - 2.3. Discussion: Borland Case Casting Light and Shadows - Creating an agenda soc 110 - INTERNATIONL MOLANA{{+91-9829866507}} Love Vashikaran Specialist Molvi Ji - Oxidation number of h in nah - First they came for theme - Why are duplicate tuples not allowed in a relation - Research proposal for advanced algorithms topic - Business Intelligence - 238 glenview road yarra glen - Author of wizard of oz - Average current ratio for electronics industry - Example of letter of advice for a client - Do cold receptors adapt quickly - Gary fountain soprano cornet - How to get along with your roommate informative speech - Criminal law, one reference from outside source and another in the text book - Case Study 3 & 4 - Harris pharmacy grove park - Jk to t flip flop conversion - Bp oil spill pr case study - Privilege power and difference allan johnson pdf - Cio presentation ppt - Question (5) - Newts restaurant in navarre ohio - 10k resistor colour code - Malus ioensis 'plena growth rate - Primate observation assignment - Is an exposition a persuasive text - 4 pages - Assignment - The roaming vet - mobile vet sydney - Professor selwyn michael griffin - Discussion Board - Multi finger test plug - How does shot/reverse shot fool viewers in order to achieve continuity? - Introduction to history - Zinc in ingot form crossword clue - Briefly explain the basic principles of underwriting - Telstra accessory repayment option - Ryanair products and services - What is the unknown metal identified as in this lab - Hr - Steve biko academic hospital occupational therapy pretoria - One Page Argumentative Essay - Ea migration skills assessment fees