Reference no: EM133149700

BSBMKG439 Develop and apply knowledge of communications industry

Assessment 1 - Short Answer Questions

Question 1

Answer the questions that follow about employment in the communications industry.

a. Identify at least three employment opportunities currently available in the communications industry.
b. Access the Fair Work Act 2009 from the link below:
Fair Work Act 2009
Outline at least three employment obligations from the Fair Work Act that organisations in the communications industry must follow.

Question 2

You are a marketing officer for Bounce Fitness, a premier provider of fitness in Australia. Access Bounce Fitness' Corporate Marketing Plan to assist you with answering the questions below about Bounce Fitness' operating environment:

Bounce Fitness Corporate Marketing Plan

a. Outline all of the following information about the clients of Bounce Fitness:
• Geographic factors
• Demographic factors
• Behavioural factors

b. Identify the three main competitors for Bounce Fitness.
c. Outline all demographic changes affecting Bounce Fitness.
d. Identify the three market needs that Bounce Fitness is aiming to address.
e. Identify the two significant market trends in the fitness industry in the last five years.

Question 3

Access Bounce Fitness' Marketing Policies and Procedures from the link below:
Marketing Policies and Procedures
Answer the questions below about Bounce Fitness' marketing structure.

a. Outline all individuals involved in the development and approval of marketing materials.
b. Outline the procedures for developing marketing materials.

Question 4

Access Bounce Fitness' Business Plan from the link below:
Bounce Business Plan

Answer the questions below about Bounce Fitness' business plan.

a. Briefly describe Bounce Fitness' strategy for advertising in lifestyle magazines.
b. Outline the financial goals of each Bounce Fitness centre for the coming year.

Question 5

Identify at least two of each of the following:
• Current digital communications technologies
Technologies refer to software and programs that allow for communication to occur between individuals or groups.
• Current digital communications platforms
Platforms refer to digital spaces and applications that allow individuals and groups to conduct communication using established technology.
• Current digital communications devices
Devices refer to hardware or equipment that allow for access to digital communications platforms to conduct communication.
a. Digital Communications Technologies
b. Digital Communications Platforms
c. Digital Communications Devices

Question 6

Answer the questions that follow about marketing communications.

a. Identify the three guiding principles of marketing communications.
b. Identify at least two best practices in marketing communications.

Question 7

Complete the table. For each media strategy outlined below, identify at least one:
• Principle for using the strategy
• Best practice for using the strategy

Media Strategy
a. Using chatbots for routine communications
b. Facilitating cross- channel marketing for promotion and communication

Assessment 2 - Workplace Project Assessment

Project Overview

This workplace project assessment requires you to research and report on the communications industry.
This assessment is divided into five tasks:
• Task 1: Research the Communications Industry
• Task 2: Identify Communications Industry Report Requirements
• Task 3: Communications Industry Report
• Task 4: Seek Feedback on Communications Industry Report
• Task 5: Conduct Ongoing Monitoring of Communications Industry

This project requires you to complete the assessment tasks in a real workplace, or in an environment with conditions similar to that of a workplace.

Each task comes with a set of instructions. You are to follow and perform these instructions while being observed by the assessor and/or submit any required documentation as evidence of task completion.

Before starting this assessment, your assessor will discuss with you these tasks, including instructions, resources, and guidance for satisfactorily completing them.

You are required to:
• Complete the tasks within the time allowed, as scheduled in-class roll.
• Research and analyse information on the communications industry.
• Prepare a communications industry report according to requirements and organisational policies and procedures.
• Share the communications industry report and seek feedback from at least two relevant personnel
• Conduct ongoing monitoring of the communications industry.

Task 1: Research the Communications Industry

This task will require you to conduct research on the communications industry. Results of your research will be used to develop the communications industry report in Workplace Project Task 3.
Use the Research Report template provided at the Bounce Fitness site. To complete this task, you must:
• Identify and access at least three sources with information on the communications industry.
At least two of the sources identified must be sources from outside your workplace/organisation.
Sources of information can include:
o Online marketing articles
o Industry-specific sources (e.g., industry associations)
o Digital databases and academic publications
o Internal and external specialists
o Workplace documentation (e.g., manuals and policies and procedures)
• Research information on each of the following:
o Structure of the communications industry
o At least two sectors in the communications industry
o At least two associations relevant to the communications industry
o At least two networks relevant to the communications industry
o Societal role of the communications industry
o At least two key stakeholders in the communications industry
o At least two new communications technologies and their impact on the industry
o At least two alternative communications technologies and their impact on the industry
o At least two trends currently affecting the communications industry
o At least two issues currently affecting the communications industry
• Document outcomes of your research into a research report Research report must use:
o Suitable format and grammatical structures
o Clear and logical language suitable to its audience and purpose
Submit the completed research report to your assessor. Include any supplementary documents/sources used to create the research report, such as the sources of information on the communications industry accessed in this task.

Task 2: Identify Communications Industry Report Requirements

This task will require you to consult with at least two relevant personnel to identify requirements that must be addressed by the communications industry report to be developed in Workplace Project Task 3.
Relevant personnel refer to individuals or groups who have relevant information on the communications industry and must be informed about the results of the learner's research.
To complete this task, you must:
• Consult with at least two relevant personnel to identify the following information:
o At least one objective of the communications industry report
o Required structure for the communications industry report
o At least two resources required to complete the communications industry report
o Other requirements of the communications industry report
• Encourage positive relationships and maintain open communication with relevant personnel
Submit evidence of consultation with at least two relevant personnel on the requirements of the communications industry report.
Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video recording of the meeting conducted with the stakeholders
When using this as evidence, ensure to inform the relevant personnel of the purpose of the recording before doing so.

Task 3: Communications Industry Report

ASSESSMENT INSTRUCTIONS
This task will require you to develop a communications industry report, which includes information researched and analysed in Workplace Project Task 1.
Use Communications Industry Report template provided at the Bounce Fitness site. To complete this task, you must:
• Review the following information:
o Result of research and analysis recorded in the research report completed in Workplace Project Task 1
o Requirements for developing the communications industry report identified during consultation with relevant personnel in Workplace Project Task 2
o Workplace documentation with information on the following:
• Applicable organisational policies and procedures for using research to create the communications industry report Organisational policies and procedures must relate to at least one of the following:
- Branding
- Social media
- Templates
• Procedures for the ongoing monitoring of the communications industry
o Legislation and regulations relevant to the communications industry applicable to your workplace/organisation

• Develop the communications industry report The communications industry report must:
o Include organised information from the research report completed in
Workplace Project Task 1

This involves presenting information in the communications industry report based on relevance and importance.
o Include criteria for assessing the communications industry report
o Outlines procedures for the ongoing monitoring of the communications industry
o Uses suitable format and grammatical structures to create a cohesive document
o Uses clear, logical language suitable to the audience and purpose

Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Review the template you will use to complete this task. If you are using a template from your workplace/organisation, discuss with your assessor to ensure that the template covers all requirements that apply to this task. Otherwise, use the Communications Industry Report template provided at the Bounce Fitness site.
Submit the completed communications industry report. Include any supplementary documents/sources used to create the communications industry report, such as:
• Workplace documentation with applicable organisational policies and procedures for using research to create the communications industry report and the ongoing monitoring of the communications industry
• Sources of information on applicable legislative and regulatory responsibilities applicable to reporting on research into the communications industry

Task 4: Seek Feedback on Communications Industry Report
This task will require you to seek and incorporate feedback on the communications industry report developed in Workplace Project Task 3 from at least two relevant personnel.
Relevant personnel refer to
To complete this task, you must:
• Review the communications industry report developed in Workplace Project Task 3.
• Share the communications industry report to at least two relevant personnel.
• Seek feedback on the communications industry report from at least two relevant personnel.
Feedback must include at least one recommended change to the communications industry report.
• Encourage positive relationships and maintain open communication with relevant personnel
• Update the communications industry report based on feedback gathered from at least two relevant personnel.
Submit the amended communications industry report to your assessor.
You must also submit evidence of seeking feedback from at least two relevant personnel. Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video recording of the meeting conducted with the stakeholders
When using this as evidence, ensure to inform relevant personnel of the purpose of the recording before doing so.

Task 5: Conduct Ongoing Monitoring of Communications Industry
This task will require you to conduct ongoing monitoring of the communications industry and update information in the communications industry report amended in Workplace Project Task 4.
To complete this task, you must:
• Implement procedures for the ongoing monitoring of the communications industry outlined in the communications industry report
This must correspond to the procedures outlined in the amended communications industry report from Workplace Project Task 4.
• Update information in the communications industry report based on the results of your monitoring.
Submit the updated communications industry report to your assessor.
You must also submit evidence of your ongoing monitoring of the communications industry.
Evidence can include:
• Monitoring sheet
• Progress report
• Research report

BSBESB302 Develop and present business proposals

Assessment 1 - Short Answer Questions

Question 1
Explain how the factors listed below affect the financial viability of business ventures.

a. General economic trends
b. Financial returns
c. Cost of operations

Question 2
Complete the table below by identifying the following:
• At least one example of emerging business technology
Emerging business technology refers to technology used in business operations that is currently gaining popularity and is expected to create significant social or economic effects among businesses.
• At least one example of changing business technology
Changing business technology refers to current improvements in existing technology in among businesses that results in increased production efficiency.
• Impact that each technology has on the viability of business ideas.

Emerging business technology
Changing business technology

Question 3
Complete the table below:
• Identify at least two personal circumstances that can influence the viability of your business idea
Personal circumstances refer to personal situations or events that may affect the capability of your business idea to survive.
• Briefly explain how each circumstance influences the viability of your business idea.

Question 4
Complete the table below:
• Identify at least three personal skills that you can use for your business idea.
Personal skills refer to knowledge and abilities you have that would be helpful in the survival your business idea.
• Briefly explain the suitability of each personal skill for your business idea.
Suitability refers to how you can use your skills help your business idea to survive.

Question 5
Complete the table below:
• List at least three business risks that can affect the viability of your business idea, according to their level of severity. List the risk with the highest severity first and the risk with the lowest severity last.
Business risks refer to future events or situations that threaten your business idea's financial goals.
Level of severity should be according to the degree of the impact of the risk if left unmanaged, with the risk that has the most severe impact being the first response.
• Explain the reason for assigning each risk in such severity level.

Question 6
Explain how the availability of each resource below will influence the viability of your business idea.

a. Financial resources

b. Human resources

c. Physical resources

Question 7
Answer the following questions about formats and methods of business presentations.

a. Identify at least two formats for presenting business proposals.
Formats refer to how the business proposal will be delivered to the audience.

b. Identify at least two methods of presenting business proposals.
Methods refer to the channel through which a business proposal will be presented.

Question 8
Briefly define each principle of risk assessment related to business opportunities listed below.

a. Compliance risk
b. Strategic risk

c. Cultural risk

d. Financial risk

Assessment 2 - Workplace Project Assessment

Project Overview

This workplace project assessment requires you to develop and present a business proposal for a product or service.
This assessment is divided into eight tasks:
• Task 1: Prepare for Business Proposal
• Task 2: Analyse Viability of Business ideas
• Task 3: Assess Business Risks
• Task 4: Assist in Risk Management System Development
• Task 5: Identify Proposal Audience and Their Needs
• Task 6: Establish Business Proposal Budget
• Task 7: Draft Business Proposal
• Task 8: Present Business Proposal
This project requires you to complete the assessment tasks in a real workplace, or in an environment with conditions similar to that of a workplace.
Each task comes with a set of instructions. You are to follow and perform these instructions while being observed by the assessor and/or submit any required documentation.
Before starting this assessment, your assessor will discuss with you these tasks, including instructions and guidance for satisfactorily completing them.
You are required to:
• Complete the tasks within the time allowed, as scheduled in-class roll.
• Identify at least two business ideas related to business opportunities and identify workplace procedures relating to evaluating business ideas
• Conduct a viability analysis for each business idea that you identified
• Identify and assess risks associated with your business ideas
• Communicate assessed risks to relevant stakeholders and assist them in developing risk management systems
• Identify the audience of your business proposal and their needs
• Establish a budget for the first year of your business idea
• Draft a business proposal according to the requirements and needs of your audience
• Present a customised business proposal to your audience and seek feedback from them.

Task 1: Prepare for Business Proposal

This task will require you to prepare for business proposal you will later draft and present by identifying at least two business ideas for a product or service. You must also identify your workplace's procedures for recording outcomes of proposal evaluation and establishing costing for business proposals.
The business ideas that you identify for this task will be the same business ideas that you will conduct a viability analysis in the next task.
One of these business ideas will also be used in drafting and presenting a business proposal in the succeeding tasks.
To complete this task, you must:
• Identify at least two business ideas.
Business ideas refer to concepts for a product or service that can be used by your business for financial gain. This can include:
o Art commissions
o Food from regional cuisine
• Identify at least one related business opportunity for each business idea identified.
Business opportunities refer to the business venture that each business idea you identify is related to. This can include:
o Art shop
o Take-away restaurant
• Access your workplace procedures for the following:
o Recording outcomes of business proposal evaluation.
o Establishing income and expenditure costing for business proposals.
• Outline the instructions from the workplace procedures that you accessed.
• Complete the answer fields in the following pages with the information identified.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Submit your responses to this workbook to your assessor. You must also submit the supplementary documents/sources used to complete your workbook responses, including workplace procedures for the following:
• Recording outcomes of business proposal evaluation.
• Establishing income and expenditure costing for business proposals.

Business Ideas
Identify at least two business ideas for a product or service. Identify at least one business opportunity related to each business idea identified.

Task 2: Analyse Viability of Business Ideas

This task will require you to conduct a viability analysis for each business idea that you identified in Workplace Project Task 1.
Use the Viability Analysis Form provided at the Bounce Fitness site to complete this task. To complete this task, you must:
• Review the following:
o Workbook responses from Workplace Project Task 1.
o Workplace procedures about recording outcomes for business proposal evaluation
o Sources of information about key factors affecting financial viability of each business idea, such as:
• Government business information
• Internet research
• Public reports
o Workplace procedures on recording outcomes of business proposal evaluations
• Identify the following:
o At least one of the business ideas that you identified in Workplace Project Task 1
o Business opportunity related to the business idea you identified.
• Research and identify at least two key factors that can influence the financial viability of the business ideas that you identified.
Financial viability refers to the capability of your business idea to generate revenue and enough profit once you start your business's operations.
Key factors that can influence financial viability refer to events or situations that can affect your business's capability to generate enough income to profit. These include:
o Global events such as pandemics
o Economic trends
o Consumer behaviour
• Estimate the potential financial returns of each business idea you identified.
Financial returns refer to the potential profit or loss of a business over a period of time.
o Identify at least three start-up expenses for your business idea.
Start-up expenses refer to the expenses that you expect to incur while setting up a business idea until your first sale. These can include:
• Insurance and permit fees
• Equipment and supplies
• Advertising and promotion
o Estimate the total start-up expenses.
• Identify the cost that each start-up expense will incur.
Cost refers to the amount of money to be expended by your business in exchange of acquiring each start-up expense.
• Add the cost that each start-up expense will incur.
o Identify at least one source of revenue for your business idea.
Source of revenue refers to the source from which your business idea will earn money from the sale of their product or service. This can include:
• Income from sales transactions
• Recurring income from rentals.
o Estimate the total revenue for the first year.
• Identify the amount of revenue to the generated by each source for the first year.
• Add the revenue that each source will generate.
o Identify at least three operating expenses that your business idea will incur for the first year.
Operating expenses refer to the resources that your business will require while running it for the first year. This includes expenses such as:
• Rent
• Salary
• Production costs
o Estimate the total operating expenses for the first year.
• Identify the total cost that each operating expense will incur for the first year.
Cost refers to the amount of money to be expended in exchange of acquiring each operating expense for the first year.
• Add the costs that each operating expense will incur for the first year.
o Calculate the net income of your business for the first year.
Net income must be calculated by subtracting the total estimated first-year operating costs from the total estimated first-year revenue.
o Calculate the investment to income ratio of the business.
Investment to income ratio measures how much a business will be able to regain the start-up costs that they incurred. This must be calculated by dividing the estimated start-up cost by the estimated net income.
• Identify at least two of your personal commitments.
Personal commitments refer to your personal obligations outside of your business idea that you are accountable for. These include:
o Financial commitments
o Family obligations
• Explain how you will adapt or adjust to the needs of your business idea considering each of the personal commitments that you identified.
You must explain how you will be able to attend to the needs of your business idea despite having the personal commitments you identified.
• Identify at least three skills required for each business idea.
Skills refer to knowledge and abilities required for the implementation and operation of each business idea. These can include:
o Financial management
o Leadership skills
o Customer service
• Identify at least three personal skills that you can use in the implementation and operation of each business idea.
Personal skills are knowledge and abilities that you have acquired through the following:
o Education
o Training
o Work experience
• Identify at least three personal attributes that you can use for each business idea.
Personal attributes refer to personal characteristics and qualities that will be useful for the implementation and operation of each business idea. These can include:
o Being goal-oriented
o Open-mindedness
o Confidence
• Compare your personal skills and attributes against the required skills for each business idea. For each required skill, you must identify:
o At least one personal skill that will address each skill required for a business idea.
o At least one personal attribute that can help with each skill required for a business idea.
• Assess the overall viability of each business opportunity based on the analysis that you conducted for their corresponding business ideas.
You must evaluate whether the business opportunities related to your business ideas will be able to survive upon implementation according to the information that you identified above.
• Complete a viability analysis form for each business idea with the information you identified. The viability analysis form must be completed according to your workplace's procedures on recording outcomes of business proposal evaluations.

Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Use the Viability Analysis Form provided at the Bounce Fitness site. You must submit at least two completed viability analysis forms to your assessor - one for each business idea. Include any supplementary documents/sources used to complete your viability analysis forms, such as:
• Sources of information about key factors affecting financial viability of each business idea, such as:
o Government business information
o Internet research
o Public reports
• Workplace procedures on recording outcomes of business proposal evaluations.

Task 3: Assess Business Risks
To complete this task, you must:
• Review the workbook responses from Workplace Project Task 1.
• Identify the following:
o Business ideas that you identified in Workplace Project Task 1
o Business opportunity related to the business idea you identified.
• Identify at least two business risks associated with each business idea.
Business risks refer to the events or situations that can affect the financial health of your business idea once its operation starts. These can relate to the following principles of risk assessment:
o Compliance risk
o Financial risk
o Strategic risk
• Identify at least two viability risks associated with each business idea.
Viability risks refer to events or situations that can affect the potential of a business idea to be successful. These can relate to:
o Market stability
o Availability of resources
o Availability of funding

• Conduct a risk assessment for each risk by identifying the following:
o Likelihood of risk
o Severity of risk
o Areas of impact
o Possible corrective actions
• Assess the overall viability of each business opportunity by considering the risk assessment of each business idea they are related to.
You must evaluate whether the business opportunities related to your business ideas will be able to survive upon implementation according to the risk assessment of each business idea.

Task 4: Assist in Risk Management System Development
This task will require you to:
• Communicate the risks that you assessed in Workplace Project Task 3 to at least two stakeholders
• Assist stakeholders in developing risk management systems for the risks that you identified in Workplace Project Task 3.
Risk management systems refer to the set of processes or procedures to be taken to minimise or eliminate potential risks associated with a business idea.
Stakeholders refer to people, groups and organisations that will be involved in and affected by the potential operations of each business idea. This includes the following:
• Contractors
• Employees
• Suppliers
• Government agencies
To complete this task, you must:
• Review the risk assessment forms that you completed in Workplace Project Task 3.
• Communicate to at least two relevant stakeholders each of the risks that you assessed in Workplace Project Task 3.
• Assist the relevant stakeholders in developing risk management systems for each of the risks that you communicated. This includes discussing the following for each risk:
o Likelihood of risk
o Severity of risk
o Areas of impact
o Possible corrective actions

Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video/audio recording of you communicating risks with stakeholders
When submitting video/audio this as evidence, ensure to inform the stakeholders whom you are communicating with of the purpose of the recording before doing so.
You must also submit evidence that you assisted in the development of risk management systems. Evidence must be based on the results of risk assessment completed in Workplace Project Task 3.
Evidence must be at least one of the following:
• Email correspondence
• Meeting minutes
• Video/audio recording of you assisting in the development of risk management systems
When submitting video/audio this as evidence, ensure to inform the stakeholders whom you are assisting of the purpose of the recording before doing so.

Task 5: Identify Proposal Audience and Their Needs
This task will require you to identify the requirements that you need to comply to in drafting and presenting a business proposal.
The requirements that you will identify for this task will be the requirements that you need to fulfill when you develop and present your business proposal in the succeeding tasks.
To complete this task, you must:
• Select one of the business ideas from Workplace Project Task 1 that you will develop a business proposal for. Additionally, you must also identify the business opportunity your selected business idea is related to.
Consider the results of the viability analysis and risk assessment that you conducted in the previous workplace tasks in selecting a business idea that you will develop a proposal for.
• Identify at least one audience you will present a business proposal to.
Audience refers to the people, groups or organisations you want to involve in the implementation of your business idea. They will have the greatest impact in the success of your business idea.
This includes identifying the following:
o Name/s of audience
o Type of audience
Types of audiences include:
• Potential investors
• Current and potential employees
• Potential clients and customers
• Bankers or loan officers
• Identify the appropriate structure of the business proposal according to the needs of the audience you identified.
Structure refers to the required order and progression of content of your business proposal. Appropriate structure can be determined by the structure required by your audience through requests for proposals (RFPs) or proposal requirements. This can include:
o Required parts of the proposal
o Supplementary documents required
• Identify the content required in the business proposal according to the needs of the audience you identified.
Content refers to the information that you will include in your business proposal. Required content can be determined by the content required by your audience through requests for proposals (RFPs) or proposal requirements.
• Identify the method of presentation appropriate to the needs of your audience
Method of presenting business proposals will vary according to the request of your audience or their availability. This can include:
o Slideshow presentation
o Email correspondence
o Mail-in submission
The method of presentation that you identify in this task will be the method that you will use in presenting your business proposal in Workplace Project Task 8.
• Identify the product or service that your business idea will offer.
• Provide the description of the product or service that your business idea will offer. This includes identifying the following:
o Type of product or service
o At least one feature of the product or service
Key feature refers to the key function of the product or service that your business idea provides.
o At least one selling point of product or service
Selling point refers to a feature of your product or service that makes it appealing to your target customers.
• Identify the following compliance and regulatory requirements relevant to your business idea:
o At least two legislations
o At least two regulations
o At least two standards specific to your industry, product or service
o At least two codes of practice specific to your industry.
• Briefly describe each compliance and regulatory requirements that you identified.
Description must be a general summary of the requirements that each of the identified compliance and regulatory requirements provide.
• Complete the answer fields in the following pages with the information identified.
Review Workplace Project Task 5 - Assessor's Checklist before starting this task. This form outlines the following:
• Resources you are required to access to complete the task.
• All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.
Submit your responses to this workbook to your assessor. Include the supplementary documents/sources that you used to complete the answer fields below, including compliance and regulatory requirements relevant to your business idea, such as:
• Legislation, such as:
o Australian Competition and Consumer Act 2010
o Fair Trading laws in their state/territory
• Regulation, such as:
o Workplace health and safety (WHS) regulations in your state/territory
o Environmental protection legislation in your state/territory
• Standards, such as:
o Mandatory standards relevant to your product or service
o Industry safety standards
• Codes of practice, such as:
o WHS codes of practice relevant to your industry in your state/territory
o Industry codes of conduct from the Australian Consumer Law.

Task 6: Establish Business Proposal Budget
This task will require you to establish the budget for the business idea that you selected in
Workplace Project Task 5.
The budget that you will establish for this task will be included in the business proposal that you will develop and present in the succeeding tasks.
Use the Business Proposal Budget template provided at the Bounce Fitness site. To complete this task, you must:
• Review the following information from the previous tasks:
o The business idea that you selected for Workplace Project Task 5
o Viability Analysis Form that you completed in Workplace Project Task 2 for the business idea that you selected.
• Develop a budget for the first year of the business idea that you selected in
Workplace Project Task 5.
The budget that you will develop for this task must be based on the projected financial returns from the Viability Analysis form that you completed in Workplace Project Task 2.
o Identify the business idea that you are developing a budget for
o Identify the period that your business proposal budget will cover
o Identify at least three start-up expenses for your business idea.
o Estimate the total start-up costs.
• Identify the cost that each start-up expense will incur.
• Add the costs that each start-up expense will incur.
o Identify at least one source of revenue for the business idea that you identified.
o Estimate the total annual revenue for the first year.

• Identify the amount of revenue to be generated by each source of revenue for each month of the first year.
• Estimate the total monthly revenue by adding the revenue that each source will generate for each month.
• Add each total monthly revenue that you will generate for your business.
o Identify the at least three operating expenses that you will incur during the first year.
o Estimate the total operating expenses for the first year.
• Identify the cost that each operating expense will incur for each month of the first year.
• Estimate the total monthly operating costs by adding the operating costs that each operating expense will incur each month.
• Add each total monthly operating cost for the first year of your business.
o Calculate the annual net income for the first year by subtracting the total annual operating costs from the total annual revenue.
The details of your budget must correspond with the details of the projected financial returns for this specific business idea in Workplace Project Task 2.
• Complete the business proposal budget template with the financial information you identified.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.

Task 7: Draft Business Proposal

This task will require you to draft a business proposal for the business idea according to the needs of the audience whom you will present your business proposal to.
The business idea and the needs of the audience should correspond with the information that you have identified in the workbook responses from Workplace Project Task 5.
Use your workplace/organisation's template to complete this task. To complete this task, you must:
• Review your workbook responses from Workplace Project Task 5.
• Access the budget that you established in Workplace Project Task 6.
• Develop a description of your business idea that includes the following:
o Your business idea
o Business opportunity related to your business idea
o Description of the product or service that your business idea will offer. This must include the following:
• Name of the product or service that you will offer
• Type of product or service that you will offer
• At least one key feature of product or service
• At least one selling point of your business idea
These should correspond to the description of product or service indicated in your workbook responses from Workplace Project Task 5.
o Short summary of the budget you developed for your business idea, including:
• Total annual net income of your business idea for the first year
• Total revenue of your business idea for the first year
• Start-up costs required for your business idea.
These should correspond to the information indicated in your business proposal budget from Workplace Project Task 6.
• Draft a business proposal for your business idea according to the structure and content required by your audience.
Include the following information that you previously completed:
o Description of business idea developed for this task.
o Business Proposal Budget from Workplace Project Task 6.
• Ensure that your business proposal complies to the business proposal requirements that you identified in the workbook responses for Workplace Project Task 5.
Your business proposal must include:
o Structure appropriate to audience needs, including:
• Required parts of the business proposal
• Supplementary documents, if any
o Content required according to the audience needs
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.

Review the template you will use to complete this task. Discuss with your assessor to ensure that the template from your workplace/organisation covers all requirements that apply to this task.

Task 8: Present Business Proposal

This task will require you to present the customised business proposal that you developed in Workplace Project Task 7 to your audience and seek feedback from them on your business proposal.
To complete this task, you must:
• Review the audience and the appropriate method of presentation for them that you identified in Workplace Project Task 5.
• Present the business proposal that you drafted in Workplace Project Task 7 to the audience using the appropriate method of presentation.
The audience and the method of presentation should correspond with the audience and method of presentation you identified in Workplace Project Task 5.
• Seek feedback from your audience on your business proposal.
You can ask for their feedback on the aspects of your business proposal. This can include:
o Your business idea
o Your product or service
o Risk management systems
o Business proposal budget
o Method of presentation
The method of seeking feedback will vary according to the method of presentation of the business proposal.

BSBFIA412 Report on Financial Activity

TASK 1 - Knowledge Test
Objective: To provide you with an opportunity to show you have the required knowledge for this unit.

The answers to the following questions will enable you to demonstrate your knowledge of:

• Key provisions of legislation, regulation and codes of practice relevant to financial operations
• Key techniques used for forecasting and analysis
• Key features of the options, methods and practices for deductions, benefits and depreciations
• Current business taxation requirements for preparing corporate accounting reports
• Current financial legislation and statutory requirements relating to taxable transactions and reporting requirements
• Ethical requirements associated with preparing financial reports for corporate entities, including conflict of interest, confidentiality, and disclosure requirements
• Industry-standard methods and formats used to present financial data.

1. What are the key provisions of legislation, regulation and codes of practice relevant to financial operations?

2. What techniques can be used for forecasting and analysis?

3. What are the options, methods and practices for deductions, benefits and depreciations?

4. What are the current business taxation requirements for corporate accounts?

5. How should taxable transactions and reporting be carried out?

6. Explain how conflict of interest, confidentiality and disclosure may impact on your financial reporting.

7. How can you present financial data clearly and according to industry standards?

TASK 2

P1 1. Compile and analyse financial data

Collect, evaluate and code current financial data to ensure consistency, quality and accuracy in accordance with organisational requirements

Use conversion and consolidation procedures to compile data in accordance with organisational requirements

Make, record and disclose asset and liability valuations in compliance with accounting standards

Ensure that discrepancies, unusual features or queries are identified, resolved or referred to the appropriate authority

Identify and record effects of taxation

P2 2. Prepare Reports

Correctly record income and expenditure to ensure compliance with statutory requirements

Correctly identify relevant receipts, revenue documentation and payments

Prepare reports according to statutory and ethical requirements, and organisational procedures relating to conflict of interest, confidentiality, and disclosure statements

Present charts, diagrams, tables and supporting data in required format

Review statements and data for errors and compliance with statutory requirements and organisational procedures, and amend as required

Submit statutory requirement reports to appropriate authorities within stated deadlines

P3 3. Provide financial business recommendations

Review recommendations and ensure they are logically derived and supported by evidence
Provide recommendations to enhance the effectiveness of functions and services

Ensure recommendations are concise and relevant to the direction and control of organisational operations

Identify and prioritise significant issues in statements including comparative financial performances for review and decision making

Ensure structure and format of reports are clear and conform to organisational and statutory requirements

PART A: Skills Activity

Objective: To provide you with an opportunity to show you have the required skills for this unit. Answer the activity in 400-500 words, considering your organisational requirements.

1. As a workplace project (or a simulated workplace activity) compile interim financial statements for the last year to show the financial position of the organisation including profit and loss, comprehensive income, cash flows and changes in equity. You should use appropriate software to aid in calculations and your presentation. Documents should be produced and attached to your workbook to show evidence of your work. Please refer to the following link for simulated case study Australian Hardware and the supporting information provided for this task

You should include the following in your work:

• The requirements of legislation, relevant codes of practice and accounting standards
• Any deductions, benefits and depreciations that have been made
• Conversion and consolidation procedures
• Discrepancies that may have been found
• Liabilities for tax
• Double-entry bookkeeping and accrual accounting practices
• Clear presentation and format of information.

Demonstrate that you can compare and analyse information from a range of sources, record numerical and textual information using financial language, and present financial issues and requirements clearly. Also, demonstrate using a wide range of mathematical calculations to interpret and arrange/compare numerical information.

2. From assessing your statements, analyse and forecast how the organisation's financial activities may
transpire for the next year, you should include:

• Techniques to conduct analysis and to make forecasts
• Financial business recommendations that may help the organisation in the next quarter.

PART B : Performance Activity

Objective: To provide you with an opportunity to demonstrate the required performance elements for this unit.
You are required to participate in a role play with your trainer for this activity.

In your own work environment or a simulated workplace environment (Please refer to the following link for simulated case study Australian Hardware),

Instructions for this activity:

• Organise and present financial data to highlight relevant features and meet workplace requirements including:
o budget variances
o budgets and forecasts
o cash flow/profit reports
o balance sheets
o financial year reports
o operating statements
o expenditure and receipts
o profit and loss statements
• Use conversion and consolidation procedures such as moving averages, standardised variables, trend analysis and unit costs
• Identify, resolve or refer discrepancies such as:
o absence of auditable trail
o expenditure report mismatches
o incorrect payments and unreconciled cash flows
• Record income and expenditure to meet statutory requirements
• Calculate liabilities for tax including completing Business Activity Statements, where applicable
• Provide financial business recommendations
• Apply knowledge of relevant legislation and regulations
• Perform double entry bookkeeping and accrual accounting.

Answer the above points considering your organisational requirements and submit a report in atleast 500 words.

Trainer will assess whether the student is able to demonstrate the following:

• Compile financial information and data for preparing an annual financial report to highlight relevant features and meet workplace requirements
• Use conversion and consolidation procedures such as moving averages, standardised variables, trend analysis and unit costs
• Identify, resolve or refer discrepancies in data such as incorrect payments and unreconciled cash flows
• Prepare the report to statutory and organisational requirements, including adherence to workplace financial policies and procedures
• Calculate liabilities for tax including completing Business Activity Statements (as applicable)
• From your report, provide financial recommendations to assist the organisation in the next year's
financial performance and discuss these with your trainer/assessor.

Throughout this activity, you will need to demonstrate that you can perform double-entry bookkeeping and accrual accounting in the tasks listed above. You will also need to demonstrate and apply knowledge of relevant legislation and regulations.

PART C: Financial Activity Reporting

Using the financial information provided for this task, complete the GST Worksheet for BAS for Australian Hardware

What to submit:

• Report on Financial analysis, forecasting and recommendations (Part A)

• Report on Financial data (Part B)

• Completed GST Worksheet and Business Activity Statement (Part C)

Attachment:- Develop and apply knowledge of communications industry.rar