Posted: September 15th, 2022

FNS60215- Advanced Diploma of Accounting Assessment Type Assessment -2 Time allowed

Assessment Details
Qualification Code/Title FNS60215- Advanced Diploma of Accounting
Assessment Type Assessment -2 Time allowed
Due Date Location AHIC Term / Year
Unit of Competency
National Code/Title FNSINC602-Interpret and Use Financial Statistics and Tools
Student Details
Student Name Student ID
Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. Signature: ____________________________
Date: _____/______/__________
Assessor Details
Assessor’s Name
RESULTS (Please Circle) SATISFACTORY NOT SATISFACTORY
Feedback to student:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..
Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I am also aware of my appeal rights.
Signature: _______________________________
Date: ______/_______/___________
Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided appropriate feedback.
Signature: ________________________________________
Date: ______/_______/___________
Instructions to the Candidates
? This assessment is to be completed according to the instructions given below in this document.
? Should you not answer the tasks correctly, you will be given feedback on the results and gaps in knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
? If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
? Please refer to the College re-submission and re-sit policy for more information.
? If you have questions and other concerns that may affect your performance in the Assessment, please inform the assessor immediately.
? To be deemed competent for this unit you must achieve a satisfactory result with tasks of this Assessment along with a satisfactory result for another Assessment.
? This is an Open book assessment which you will do in your own time but complete in the time designated by your assessor. Remember, that it must be your own work and if you use other sources then you must reference these appropriately.
? Resources required completing the assessment tasks are Learner guide, PowerPoint presentation, Unit Assessment Pack (UAP), Access to other learning materials such as textbooks, Access to a computer, the Internet and word-processing system such as MS Word.
? Submitted document must follow the given criteria. Font must be Times New Roman, Font size need to be 12 and line spacing has to be Single line.
? This is Individual Assessments. Once you have completed the assessment, please upload the softcopy of the Assessment into AHIC Moodle.
? Plagiarism is copying someone else’s work and submitting it as your own. Any Plagiarism will result in a mark of Zero.
ASSESSMENT TASK 2:
Assessment Task Source and Apply Statistical Data
Schedule Week 2
Outcomes Assessed
Performance Criteria:
1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 4.1, 4.2
Addresses some elements of required skills and knowledge as shown in the Assessment Matrix
Description:
This assessment task has four tasks. Trainers/assessors may vary the data for the task for different students. Tasks may be scheduled according to classroom learning sessions and organised over a number of sessions to coincide with the relevant lessons and activities.
1. Complete the following tasks using the given data set.
Assets
$
Cash 200 000
Accounts receivable 400 000
Inventory 1 200 000
Plant 600 000
Total assets 2 400 000
Liabilities
$
Accounts payable 800 000
Long-term debt 400 000
Capital 1 200 000
2 400 000
Profit and loss
Sales 1 600 000
Cost of goods sold 1 000 000
Operating expenses 200 000
Interest 100 000
Taxes 100 000
Net profit 200 000
Find the following:
(a) Current ratio
(b) Quick asset ratios
(c) Inventory turnover
(d) Collection period
(e) Fixed asset turnover
(f) Times interest covered
(g) Net profit margin
(h) Return on total assets
(i) Return on capital.
2. The following data represents sales for 2005 to 2015:
Year Sales
2008 10 000
2009 11 000
2010 12 000
2011 12 500
2012 16 000
2013 18 000
2014 25 000
2015 40 000
2016 41 000
2017 43 000
2018 50 000
Based on the data,
(a) Plot the data on a graph.
(b) Draw the secular trend line of best fit using semi-average method.
(c) With the data from 2009 to 2018 predict sales for 2019 with least square method of forecasting
3. You are given the following data:
2 1 1 2 1 1 3 1 2 1 0
1 1 3 2 1 4 1 1 1 0 2
Required:
(a) Draw a histogram.
(b) Draw a frequency table.
(c) Draw a frequency polygon.
4. Calculate the correlation coefficient between advertising (x) and sales (y).
Year 2009 2010 2011 2012 2013 2014
$’000 Advertising 10 11 12 13 14 15
$’000 Sales 200 220 230 250 260 300
( b ) Describe the relationship between advertising and sales.
( c ) Find the equation of the regression line.
( d ) Plot the data for the annual sales versus advertising on a scattergram using the paper below. Start the x axis from 100 and the y axis from 8.
( e ) Use the regression equation to draw the line of regression on your scatter diagram.
( f ) If advertising is $16,000 in 2015 calculate the expected sales.
5. Why is accurate data so important for business survival? What are some of the graphical data techniques that are used to illustrate statistics results?
Assessment Criteria
The following assessment criteria will be used for marking this assessment task. Ensure that you have addressed all of the criteria in your work.
? Used appropriate data sets and statistics for calculations as required
? Complete all the given tasks
? Completed the task within a designated assessment session in presence of an assessor
? Used appropriate formulas and accurately calculated the ratios from the given financial information
? Used tables, graphs and/or charts to illustrate the data where needed
? Diagrams/graphs are appropriately labelled and coded to illustrate the data
? Data is clear, distinguishable and appropriately labelled for identification
? The answers are consistent with the model answers
Submission Guidelines
Submit:
? Completed tasks – Word processed
? Spreadsheets with calculations and charts/diagrams
? Copies of graphs and charts
This assessment task must be completed in a designated session in presence of a trainer/assessor.

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