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Describe the nursing care delivery model used at your current or previous employer. Would you utilize this model at SLMC? Discuss current interprofessional collaboration and how you would encourage collaborative efforts. Does the model support the person-centred nursing framework by McCormack and McCance (2017)? Explain your rationale for choosing to use or not use the person-centred nursing framework. Please refer back to the 2017 PCNF overview presented below. Patient-Centered Care: A Person-Centred Care Model Revisited Caring continues to be a central concept in nursing; however, the context for caring is transforming, resulting in conceptual and theoretical advancements related to the evolving healthcare practice settings. McCormack and McCance originally developed a Person-Centred Nursing (PCN) Framework in 2006 and updated it in 2010 that can be applied to practice in complex healthcare systems (McCormack & McCance, 2006; McCormack & McCance, 2017). The PCN Framework provides a standard of care for practice and is a multidimensional process that places emphasis on the person as the center of care delivery (McCance, McCormack, & Dewing, 2011). The PCN Framework fosters outcomes related to therapeutic relationships through respecting individuals as persons and partners in care. The Person-Centred Care Nursing Framework consists of four constructs: prerequisites, the care environment, person-centred processes, and outcomes (McCance et al., 2011). To deliver effective care, one must work from the outer circle first to the core. McCormack, B. & McCance, T. (2017)Prerequisites focus on the attributes of the nurses and include being professionally competent, having developed interpersonal skills, being committed to the job, being able to demonstrate clarity of beliefs and values, and knowing self. The care environment focuses on the context in which care is delivered and includes appropriate skill mix, systems that facilitate shared decision making, effective staff relationships, organizational systems that are supportive, the sharing of power, the potential for innovation and risk taking, and the physical environment. Person-centred processes focus on delivering care through a range of activities and include working with a patient’s beliefs and values to overcome this gap between the concept and the reality of person-centred care we have developed the Person-Centred Nursing Framework…engagement, having sympathetic presence, sharing decision making, and providing holistic care. Outcomes, the central component of the Framework, are the results of effective, person-centred nursing and include: satisfaction with care, involvement in care, feeling of well-being, and creating a therapeutic environment. (McCance, McCormack, & Dewing, 2011).
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Start by reading and following these instructions:
1. Quickly skim the questions or assignment below and the assignment rubric to help you focus.
2. Read the required chapter(s) of the textbook and any additional recommended resources. Some answers may require you to do additional research on the Internet or in other reference sources. Choose your sources carefully.
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Assignment: Answer these essay questions:
1. Imagine you and your spouse have outgrown your current home. Your spouse wants to move to a larger home, but you’d like to add on to your existing home because you love your neighborhood. Explain how you would approach negotiating with your spouse about this topic.
2. Research organizational structures of widely known companies (for example, Nike, Amazon, Johnson & Johnson, etc.). Find one thing that exemplifies an ideal organizational structure. Include an explanation of why you think the structure is ideal and how it benefits the firm and all key stakeholders. Be sure to submit the org chart with your essay.
3. Find one organization that employs each of the organizational designs. For each, include an explanation as to why you think the organization employs that structure.
4. Read Ethical Dilemma and answer the corresponding questions
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Start by reading and following these instructions:
1. Quickly skim the questions or assignment below and the assignment rubric to help you focus.
2. Read the required chapter(s) of the textbook and any additional recommended resources. Some answers may require you to do additional research on the Internet or in other reference sources. Choose your sources carefully.
3. Consider the discussions and any insights gained from them.
4. Create your Assignment submission and be sure to cite your sources, use APA style as required, check your spelling.
Assignment: Answer these essay questions:
1. Imagine you and your spouse have outgrown your current home. Your spouse wants to move to a larger home, but you’d like to add on to your existing home because you love your neighborhood. Explain how you would approach negotiating with your spouse about this topic.
2. Research organizational structures of widely known companies (for example, Nike, Amazon, Johnson & Johnson, etc.). Find one thing that exemplifies an ideal organizational structure. Include an explanation of why you think the structure is ideal and how it benefits the firm and all key stakeholders. Be sure to submit the org chart with your essay.
3. Find one organization that employs each of the organizational designs. For each, include an explanation as to why you think the organization employs that structure.
4. Read Ethical Dilemma and answer the corresponding questions
Timely Delivery– primewritersbay.com believes in beating the deadlines that our customers have imposed because we understand how important it is.
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Imagine you and your spouse have outgrown your current home
CONTENTS UNIT OVERVIEW 3 Unit Description 3 AQF SPECIFICATIONS FOR ASSESSMENTS 5 Knowledge 5 Skills 5 Application 5 ACSF SPECIFICATIONS AND FOUNDATION SKILLS 6 SUBMITTING ASSESSMENTS 6 TRAINING RESOURCES 6 UNIT ASSESSMENT PLAN 6 UNIT ASSESSMENT PART 1 7 UNIT KNOWLEDGE ASSESSMENT (UKA) 7 STUDENT TO COMPLETE AND SUBMIT 7 STUDENT INSTRUCTIONS: 8 UNIT ASSESSMENT PART 2 13 UNIT SKILLS ASSESSMENT (USA) 13 STUDENT TO COMPLETE AND SUBMIT 13 STUDENT INSTRUCTIONS: 14
CASE STUDY BASED PROJECT REPORT WITH ROLE PLAY TASK 15 APPENDICES 20 APPENDIX: 01 21 Case study – Nara Business Hotel 21 APPENDIX: 01 23 Annual Year-end financial performance review form 23 APPENDIX: 03 24 Internal Memo Template 24 UNIT OVERVIEW SITXFIN005 Manage physical assets UNIT DESCRIPTION This unit describes the performance outcomes, skills and knowledge required to manage the physical assets of an organisation. It requires the ability to establish systems and practices for asset monitoring, maintenance and acquisition. It applies to senior managers who operate with significant autonomy and who are responsible for making a range of strategic management decisions. Element Performance Criteria
Develop practices for systematic maintenance, repair and purchase of physical assets. 1.1.Develop and maintain an accurate and current physical assets register. 1.2.Develop practices for managing physical assets that reflect overall business objectives. 1.3.Establish and implement maintenance and repair regimes that minimise disruption and loss of revenue. 1.4.Integrate practices to support environmental sustainability into use of physical assets. 1.5.Evaluate current and potential financial ability to acquire physical assets.
Monitor the condition and performance of physical assets. 2.1.Establish and implement regular reporting practices to ensure effective performance of physical assets. 2.2.Identify physical asset problems promptly and take appropriate action. 2.3.Assess long-term physical asset performance. 2.4.Evaluate need for, and access, specialist assistance.
Coordinate financing and purchase of physical assets. 3.1.Prepare accurate equipment specifications to guide acquisition process. 3.2.Estimate acquisition costs based on evaluation of current, accurate and relevant data. 3.3.Make decisions on replacing and acquiring physical assets. 3.4.Select methods of financing to meet current financial objectives. 3.5.Finance acquisitions in consultation with financial specialists. 3.6.Keep accurate records of all financial agreements. Performance Evidence develop a plan for the acquisition, maintenance and replacement of at least three different types of physical assets listed in the knowledge evidence demonstrate procedures to: • monitor the utility of above assets to meet business needs • provide regular financial reports on the assets • record formal and informal customer and staff feedback • integrate day-to-day condition reports • schedule internal or external inspections or audits • schedule management reports • develop and maintain a current register for the above assets. Knowledge Evidence business objectives relevant to the management of physical assets: • profitability • growth • providing quality products and services to customers • adhering to: o codes of conduct o environmental sustainability philosophies and practices • industry accreditation schemes types of physical assets required by tourism, hospitality and event organisations and the organisation in particular: • buildings • computer systems • equipment fixtures, fittings and furniture in one of the following: o accommodation establishments o commercial kitchens o restaurants and bars o storage areas o tourism, hospitality and event offices o transportation depots • gardens • pools • rides and games • vehicles • vessels maintenance requirements for different types of physical assets considerations for long-term assessment of physical assets: • ability to meet business objectives • cost of maintenance over a period of time • customer and staff feedback • input from specialists where required • operational efficiency • safety equipment specifications to guide acquisition process: • budget parameters • environmental sustainability policies for the business • floor plans • numbers and types of required equipment fixtures, fittings and furniture • operational performance requirements: o efficiency o customer traffic o staff usage • types of products and services offered by the business formats for and inclusions of asset registers specified in performance evidence features and benefits of different financing options for asset acquisition: • hire purchase • lease • purchase • rent depreciation that can be applied to different types of physical assets data used in the estimation of asset acquisition: • current maintenance contracts • estimates and quotations from suppliers • previous contracts and costs • published or advertised prices practices to support environmental sustainability using different types of physical assets Skills must be demonstrated in an operational tourism, travel, hospitality or event operation for which physical assets are monitored and maintained. This can be: an industry workplace a simulated industry environment. Assessment must ensure access to: ? current commercial purchase specifications, supplier product and cost information, and contractual documentation used for the purchase of assets. AQF SPECIFICATIONS FOR ASSESSMENTS AQF Specifications for Assessments in Advanced Diploma Qualifications: This assessment is set in accordance with the criteria for AQF Level 4. As stated in the AQF specification for the Advanced Diploma qualifications must be designed and accredited to enable graduates to demonstrate the learning outcomes expressed as knowledge, skills and the application of knowledge and skills specified in the level 5 criteria and the Advanced Diploma descriptor. Students at this level will have specialised knowledge and skills for skilled/paraprofessional work and/or further learning. KNOWLEDGE Students at this level will have broad theoretical and technical knowledge of a specific area or a broad field of work and learning. SKILLS Students at this level will have a broad range of cognitive, technical and communication skills to select and apply methods and technologies to: • analyse information to complete a range of activities • interpret and transmit solutions to unpredictable and sometimes complex problems • transmit information and skills to others APPLICATION Students at this level will apply knowledge and skills to demonstrate autonomy, judgement and defined responsibility in contexts that are subject to change and within broad parameters to provide specialist advice and functions. ACSF SPECIFICATIONS AND FOUNDATION SKILLS The term ‘Foundation Skills’ is currently used to include the core skills defined in the Australian Core Skills Framework (ACSF) as well as the employability skills identified by employers as critical for effective performance in the workplace. Foundation skills encompass both the core skills of reading, writing, oral communication, numeracy and learning as described by the Australian Core Skills Framework (ACSF), and the Employability Skills/Core Skills for Work. They exist on a continuum from very basic skills to highly-developed and specialist skills. The foundation skills for this unit are located in the Unit Outline Booklet and have been addressed in the assessment as part of the performance criteria for this unit. SUBMITTING ASSESSMENTS Students should submit assessment tasks with the provided cover sheet. Assessments should be submitted on or before their due date. Extensions for individual assessment tasks may be negotiated in specific circumstances. Consultation on this must occur prior to the due date and extensions due to illness will require a medical certificate. Extensions must be confirmed by the Academic Manager in writing. TRAINING RESOURCES The student will have access to the following: • AIE Student Workbook • PowerPoint presentation • Learner Assessment Pack (LAP) • Access to a computer, the Internet and word-processing system such as MS Word and MS Excel UNIT ASSESSMENT PLAN To demonstrate competence in this unit, you must be assessed as satisfactory in each of the following assessment part. Evidence recorded Evidence Type/ Method of assessment Evidence Submitted Unit Assessment Part 1 Unit Knowledge Assessment (UKA) Yes / No Unit Assessment Part 2 Unit Skills Assessment (USA) Yes / No UNIT ASSESSMENT PART 1 UNIT KNOWLEDGE ASSESSMENT (UKA) STUDENT TO COMPLETE AND SUBMIT STUDENT INSTRUCTIONS: You are required to demonstrate the knowledge you have gained from undertaking SITXFIN005 Manage physical assets unit of competency. • All questions must be answered correctly to be completed satisfactorily. • All knowledge assessments are untimed and are conducted as open book (this means student can refer to textbooks or any resources). • Student may handwrite/use computers to answer the questions. • This assessment task may be completed in a classroom, at home, learning management system (i.e. Moodle), or independent learning environment. • You must complete all questions unassisted by the assessor or other personnel but may refer to reference material as needed. Submission details • The Assessment Task is due on the date specified by your trainer. Any variations to this arrangement must be approved in writing by your trainer. • Fill out and attach the Assessment Submission form to the documents you are submitting to be marked. • Please answer each question on a separate page provided and clearly indicate the question number at the top of the page. • The Trainer/Assessor may further prompt and question in order to receive answers of appropriate quality or if further clarification is required and to validate authenticity of your submitted work. Answer all of the following questions.
How can the following business objectives influence the methods used for managing physical assets in an organisation? Provide 1 example for each: Profitability Growth Providing quality products and services to customers Adhering to: o codes of conduct o environmental sustainability philosophies and practices Industry accreditation schemes
Provide 8 examples for different types of physical assets required by tourism, hospitality and event organisations:
List 5 physical assets relevant to your workplace or training and provide the maintenance details typically required for each: Physical asset Maintenance requirements 1. 2. 3. 4. 5.
List 6 key aspects which must be considered for the long-term assessment of physical assets in terms of nature of requirements and necessity of acquisition. Who could be typically involved in this in terms of feedback and specialist advice? Responses 1. 2. 3. 4. 5. 6. Involvement
The following are parameters which are used to guide the acquisition of physical assets. Provide examples and details for what should be considered, for each aspect. Budget parameters Environmental sustainability policies for the business Site plans Auxiliary items Performance requirements Suitability to products and services offered
Which details need to be recorded in an asset register for each physical asset? Responses
Provide an overview of the features, advantages and disadvantages of each of the following financing options when acquiring assets:
Hire purchase
Lease
Purchase
Rent
Explain the methods for calculating the depreciation of assets using each of the following methods: a) Prime cost method b) Diminishing Value Method
Go to the ATO website link provided below and source the information for the current simplified depreciation rules which apply: https://www.ato.gov.au/Business/Income-and-deductions-for-business/Depreciatingassets/Simpler-depreciation-for-small-business/
Provide 4 examples of sources for data to enable you to estimate reliable acquisition costs. What does this need to consider in terms of contractual obligations and ongoing maintenance? Responses 1. 2. 3. 4. Aspects to consider
List 3 examples for environmental sustainability that applies to physical assets and outline the environmental and financial benefits as applicable: Example Environmental and financial benefits UNIT ASSESSMENT PART 2 UNIT SKILLS ASSESSMENT (USA) STUDENT TO COMPLETE AND SUBMIT STUDENT INSTRUCTIONS: The project consists of 3 parts, Part 1, 2 and 3 based on simulated business – ‘Nara Business Hotel. • If you are not sure about any aspect of the assessment or would like to discuss your particular needs, please speak to your trainer. • Your trainer will tell you the date you need to submit your assignment. • You need to complete all parts and submit them together by the due date. • This project assignment is to be completed using the “Nara Business Hotel” case study. It is included in the “Appendix”. • The checklist table will identify the records that you are required to prepare and submit (as a single submission). • Your assignment must be typed (in 12 point type on A4 paper) and you need to complete an Assessment Cover Page. • Make sure you keep a copy of your assignment before you hand it in to your trainer Note : Any Role Play or Presentation needs to be completed in the class with your Trainer / Assessor on the date specified by your trainer.
CASE STUDY BASED PROJECT REPORT WITH ROLE PLAY TASK This project assignment is to be completed using the “Nara Business Hotel” case study. It is included in the “Appendix”. The assessment has three parts and the details are provided below: Part 1 Requires you to develop a resource acquisition plan for the acquisition of 3 different resources from the following main categories: • buildings • computer systems • equipment fixtures, fittings and furniture in one of the following: • gardens • pools • rides and games • vehicles • vessels Part 2 Requires you to develop an asset register which needs to list the details for the 3 new physical assets you have determined in Part A. You must include the maintenance requirements and schedule of maintenance for each asset. Part 3 Requires you to develop a resource management strategy which provides details on how the efficiency of each asset is monitored Part 1. – Acquisition Plan You are working as a manager at the Nara Business Hotel. You have been informed of the hotels expansion plans by the senior management. You are required to choose 3 different physical assets, relevant to Nara Business Hotel, which may include any of the following: • buildings • computer systems • equipment fixtures, fittings and furniture in one of the following: o accommodation establishments o commercial kitchens o restaurants and bars o storage areas o tourism, hospitality and event offices o transportation depots • gardens • pools • rides and games • vehicles • vessels ?Task 1
Provide an overview of the business activities of the hotel relevant to the physical assets selected.
List the purpose of the acquisition or replacement of the physical assets, providing detailed information what informs the decision to acquire these new assets.
Write an overview of specifications for each asset which clearly outline what requirements each asset needs to fulfil in terms of capacity, performance, size, location requirements and maximum budget for each or for the overall budget parameter.
Obtain 3 prices or quotes from different suppliers or sources for each asset. Attach the correspondence and final quote received for each asset to this project.
Contact a financial institution and at least 2 different suppliers and obtain information on 3 different financing options available and costs (attach copies of your correspondence).
Calculate the finance variants offered to you and determine the best options for each asset. Your options need to include potential factors for depreciation, consideration for technology changes and financial impacts on the organisation and financial aspects for which you will seek specialist advice. (Your depreciation calculations must consider the current regulations published on the ATO website).
Based on your calculations in Q.6, explain the official process that now needs to be followed to finalise the acquisition of each asset. This may include processes in your existing workplace or common industry standards and needs to provide: • details for detailed specifications, • legal contracts, • requirements and documentation applicable to different acquisition and financing methods, • preparation of documentation for disposal of assets that are being replaced including tax obligations. PART 1: Your assessor will be looking for: Before you hand in the Part 2 assessment tasks, use the checklist below to make sure you have completed all the activities and have included all relevant information. • Provided an overview of the business activities • Listed the purpose of the acquisition or replacement of the physical assets • Overview of specifications for each asset clearly outlined • Prices or quotes from different suppliers taken • Contacted a financial institution • Calculated the finance variants offered to you • Explained the official process that needs to be followed to finalise the acquisition of each asset. Part 2. – Asset Register ?Task 1
Develop an asset register which lists the 3 assets determined in Part A. Your asset register needs to include the following details: • Asset Details • Asset description/model/type • Serial Numbers • Purchase date • Cost • Depreciation amount (from when you undertake this assessment to the end of the financial year). If you have no current value, then base this calculation on the approximate price you have determined using the ATO guidelines. • Closing Written Down Values (at the End of financial year where you undertake this assessment)
Develop a maintenance register and identify the maintenance requirements for each asset accordingly. For some assets that might be determined through lease clauses or service contract agreements. If so, include these including the details. For the remaining assets consult the user manuals or manufacturer’s recommendations with consideration to frequency of use relevant to your organisation. For example if a post-mix machine or coffee machine is connected to water filter then this needs to be reflected in the maintenance requirements. PART 2: Your assessor will be looking for: Before you hand in the Part 2 assessment tasks, use the checklist below to make sure you have completed all the activities and have included all relevant information. • Developed an asset register which lists the 3 assets determined in Part 1. • Developed a maintenance register and identified the maintenance requirements for each asset Part 3 – Resource management strategy Continuing from Part 1 and 2 complete the following:
Develop a maintenance regime for each asset based on the maintenance requirements you have determined in Part 2.
The maintenance regime needs to include the following details and outline how each aspect is affected and as a result addressed: a) Reporting and monitoring mechanisms to ensure assets are functioning effectively and issues are reported by using correct and suitable procedures including provisions for specialist advice for complex issues. b) Provisions for collecting feedback from customers and reports from staff. c) Types of maintenance required including common routine maintenance based on the organisation’s activities for example adjusting doors, fixing furniture, cleaning airconditioning filters in guest rooms, etc. d) Location of maintenance, e.g. can it be done off-site or away from heavily-trafficked areas? e) Expected duration of maintenance works f) Timing of scheduled maintenance, e.g. slow periods such as during the day for a nightclub, or during the night in high frequency areas. g) Likely disruption to operations – what are the disruptions and what are the expected impacts? h) WHS issues i) Legal and regulatory requirements which apply for the physical assets during the course of the financial year (for example for vehicles carrying passengers, electrical equipment or as relevant to the specifc assets) j) Summary of cost impacts for human resources (for examples where maintenance would, e.g. require penalty rates for maintenance staff) or the costs where contractors are engaged for specific maintenance requirements k) Costs of scheduled maintenance in terms of parts, required equipment to perform the maintenance and consumables l) Provisions for monitoring of financial performance of the assets over the budget period. m) Occurrences based on the details outlined in the questions above which would inform to review or audit the performance or viability of the assets. PART 3: Your assessor will be looking for: Before you hand in the Part 3 assessment tasks, use the checklist below to make sure you have completed all the tasks and have included all relevant information. • Developed a maintenance regime for each asset based on the maintenance requirements • The maintenance regime that includes the details mentioned and outlined how each aspect is affected and as a result addressed APPENDICES
APPENDIX: 01 CASE STUDY – NARA BUSINESS HOTEL Background The Nara Business Hotel has been operating within the Sydney CBD as a boutique hotel for the past 20 years. In this time the NBH has built a reputation as a high quality boutique hotel which offers residents a unique and flawless stay in one of their 100 rooms. The hotel was initially founded by Greg Mathews who later sold the hotel to a group of investors who have given the hotels management to the Australian Hotel Management Group (AHMG). The AHMG is responsible for all matters related to the operation of the hotel and are required to meet strict financial performance objectives. The AHMG must therefore budget all hotel expenses and regularly produce reports which are presented to the Hotel’s investors. Mission The Nara Business Hotel’s mission is to consistently deliver an enjoyable and memorable accommodation experience for travellers visiting the Sydney CBD in a business context. Vision The Nara Business Hotel’s vision is to become an industry leader in boutique business accommodation. Growth Objectives The Nara Business Hotel has been known for its boutique size. However, over the past 5 years the demand for rooms in the NBH has been far greater than supply. As such, many residents are left upset when they cannot get a booking. The investors wish to overcome this problem, and have asked the AHMG to budget for the expansion of the hotel. Additionally, the investors wish to achieve a 50% growth in profits over the next 2 years. In order to achieve these growth objectives the AHMG has decided to expand the hotel by introducing 50 new rooms. They believe that due to the high demand for rooms the full cost of the expansion will be recovered within a year, making the expansion a viable business opportunity. Forecast Revenue Figures for 2019 and 2020 Number of Rooms Revenue Per Room Occupancy Rate 2019 150 $90,000 67% 2020 150 $90,000 91% Note: the occupancy rate is lower in 2019 due to the time required to furnish the 50 new rooms early in the year. Organisation Finance Policy and Procedures Reporting Policy The Nara Business Hotel requires its financial managers to report deviations between the forecasted budget and actual budget to the Hotel’s investors. The managers are only required to report upon deviations of 5% or greater. Financing Policy The Nara Business Hotel requires its financial managers to responsibly manage the cashflows of the hotel. If there is a need to raise cash for hotel operations or expansion the policy requires the financial management team uses short term loans from ANZ Bank. The loans are typically 1 year long and at an interest rate of 4% and the loan amounts are rounded to the nearest hundred thousand. Staffing Policy The Nara Business Hotel prioritises excellent customer service and as such the policy requires employing 1 staff member per 5 rooms. For example, if the hotel has 100 rooms, 20 staff members will need to be actively working within the hotel at any given time. Corporate Real Estate Policy The Nara Business Hotel policy requires that its real estate assets are rented and not bought. The current hotel building is rented at the rate of $3,000,000 per annum and which equates to $30,000 per room per annum. The Hotel policy requires that any future real estate that is to be attained is negotiated to the same rate of $30,000 per room per annum. Hotel Maintenance Policy The Nara Business Hotel policy requires that every year 10 existing rooms are completely refurnished. The cost of completely refurnishing a room is $20,000 as per the Hotel’s contractor agreements. This policy ensures that the hotel’s rooms are up-to-date and the décor is of latest style. Additional rooms may be refurnished based on management’s requirements, however a minimum of 10 old rooms must be refurnished annually. Australian Hotel Management Group Agreement As per the agreement between the Nara Business Hotel and the Australian Hotel Management Group, the AHMG is responsible for the Hotel’s management for a 40 year period at the rate of $1,000 per room per annum. Investor Returns Policy The Nara Business Hotel policy requires it’s financial managers to provide a fixed return of $2,000,000 to its investors per annum. Any additional income/cashflow will be reinvested into the business in the next year. APPENDIX: 01 ANNUAL YEAR-END FINANCIAL PERFORMANCE REVIEW FORM NBH Annual Year-End Financial Performance Review Form Name of Reviewer: Date: Year in Review: What was the profit for the year in review? Please provide a short description and justification. Was there any exceptional financial activity which has caused the year in review’s financial performance to be different from previous years? Were there any deviations greater than 5% in the year in review from the budget? Has the year in review met it’s investor return requirements of $2,000,000? If not, please explain. Signature of Reviewer: APPENDIX: 03 INTERNAL MEMO TEMPLATE Nara Business Hotel – Internal Memo
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Assessment 3 Information Subject Code: ACC203 Subject Name: Financial Accounting 2 Assessment Title: Case study Assessment Type: Individual Written Report – Case Study Weighting: 30% Total Marks: 30 marks Submission: Individual Written Report submitted via Turnitin on MyKBS Word limit: 1500 words (max.) Due Date: Monday of Week 13 at 3:55 pm AEST Your Task You are required to prepare a business letter to answer key accounting issues regarding income taxes, property, plant & equipment revaluation and revenue. Assessment Description Assume that you are a graduate accountant working for Highend Accountants, a public accounting firm located at 203 York Street Sydney, NSW 2000. The manager of your firm, Mr. John Little asked you to draft a letter in response to an email received from Ms. Michelle Smith, the managing director of Lowsales Ltd in response to various key accounting issues. See the copy of the email on the next page. You should address all the technical issues/discussion in the letter, followed by a Reference List. The breakdown of your assessment marking is as follows: Technical component 25 marks – These marks cover the technical content of your advice and the explanation on each of the issues, the calculations and the sources used. Communication Skills/Writing 5 marks – These marks cover the generic skills of report writing, layout, clear meaning, structure and appropriate tone and grammar and spelling and punctuation. Learning Objectives: After completing this Individual Assignment, you will be able to: • apply accounting principles and standards when accounting for non-current assets • apply accounting principles and standards when accounting for liabilities, revenue and income tax • develop information gathering and communication strategies to enable the provision of professional advice to a client Case Study Assume that you are a graduate accountant working for Highend Accountants, a public accounting firm located at 203 York Street Sydney, NSW 2000. The manager of your firm, Mr. John Little asked you to draft a letter in response to an email received from Ms. Michelle Smith, the managing director of Lowsales Ltd in response to various key accounting issues. Make sure you include any references from AASBs, Corporations Act and relevant websites. The following email was sent from Ms. Michelle Smith to John Little. Re: Accounting Issues: Year Ending 30 June 2021 From: Michelle Smith (msmith@lowsales.com.au) Sent: 5 May 2021 To: John Little (john123@highendaccounting.com.au) Dear John, Thank you for your phone call this morning. As discussed, we have recently hired a new chief accountant for our group who is concerned about three matters. Firstly, the chief accountant expressed his concerns to the Board that there were no deferred tax accounts. The chairperson said that we should not be wasting our time on future tax consequences because there are far more important issues for us to focus on. The company pay taxes every quarter, is this not sufficient? Could you please explain this issue? As I said, we are all nonaccountants, and therefore an example would be great. The chief accountant raised a second matter about the recording of revenue. For example, Lowsales Ltd executes a contract to sell and install machinery for our customer, Gregory Ltd to support their dam construction project. The sales price charged for the machine, installation and ongoing support is $6,000,000. The terms state that Gregory Ltd will pay for the machine immediately (fair value of the machinery is $5,000,000). The installation will take approximately 3 months to complete (fair value of installation is $1,000,000). In addition, Lowsales Ltd have agreed to provide Gregory Ltd with 24 months of ongoing technical support (fair value of technical support is $100,000). In the accounts of Lowsales Ltd revenue of $6,000,000 (on the date the contract was exchanged) was recorded. However, the chief accountant requests that Lowsales Ltd should apply the five-step model per the accounting standard to record the revenue. Can you explain the five-step using the above example? The accountant raised a third point. He recommended that Lowsales Ltd adopt the “revaluation method” for property, plant and equipment instead of our current “cost method”. Can you explain what is the difference between the cost method and the revaluation method? I am also not sure how this affects our financial statements. Could you please explain how this may impact our financial statements? Our board thinks that the revaluation method is better as we can increase company asset values anytime and therefore it will attract more new investors. Is this correct? Please respond by letter (not email) as I would like to present your views to our board. I look forward to hearing from you shortly. Regards Michelle Smith Managing director, Lowsales Ltd Level 11, 203 York Street, Sydney NSW 2000
Important Study Information Academic Integrity Policy KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy. What is academic integrity and misconduct? What are the penalties for academic misconduct? What are the late penalties? How can I appeal my grade? Click here for answers to these questions: http://www.kbs.edu.au/current-students/student-policies/. Word Limits for Written Assessments Word limit is 650 words (max.) Submissions that exceed the word limit by more than 10% will cease to be marked from the point at which that limit is exceeded. Study Assistance Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Click here for this information. ACC203 Assignment Rubric: 30% Individual Assignment Components High Distinction 85 – 100% (Marks 25.5 to 30) Distinction 75 – 84% (Marks 22.5 to 25.4) Credit 65 – 74% (Marks 19.5 to 22.4) Pass 50 – 64% (Marks 15 to 19.4) Fail 0 – 49% (Marks 0 to 14.9) Mark Awarded (Out of 30) Technical component Journal entries, Calculations, Explanations 25 marks It clearly identifies and addresses all the technical issues raised & provides clear, correct & decisive answers displaying an outstanding understanding of each of the technical issues.
It is very clear and concise making it easy for the client to understand.
Where applicable the appropriate reference has been correctly made to the AASBs, GAAPs and other legislation It clearly identifies and addresses most of the technical issues raised by the client and provides clear, correct, and decisive advice displaying a good understanding of most of the technical issues.
It is easy for the client to understand.
Where applicable the appropriate, reference has been made to the AASBs, GAAPs and other legislation It clearly identifies & addresses some of the technical issues raised by the client and provides reasonably clear, correct, and decisive advice displaying a reasonably good understanding of some of the technical issues.
It most cases it is easy for the client to understand.
Reference has been made to most of the AASBs, GAAPs and other legislation where applicable It identifies and addresses some of the technical issues raised by the client and provides fairly clear, but not always correct and/or decisive advice. It displays a reasonable understanding of some of the technical issues raised.
In some cases, it is easy for the client to understand. *Reference has been made to some of the AASBs, GAAPs and other legislation where applicable. It does not identify or address the technical issues raised by the client It displays a lack of understanding of some or all of the technical issues raised. *It is difficult for the client to understand.
Little or no reference is made to the AASBs, GAAPs and other legislation where applicable. ACC203 Financial Accounting 2 page 5 Assignment 3 Case Study Communication Skills/Writing Written Business Letter with letterhead Overall Presentation, Language and Grammar 5 marks The Letter includes the letterhead with a logo and business name. Recipient name and address clearly identified. Date and subject line included. Presentation, formatting and structure are of a high professional standard. Exceptional and eloquent use of the English language presented clearly, sequentially and without errors in grammar and referencing. The Letter includes the letterhead with a logo and business name. Recipient name and address clearly identified. Date and subject line included. Only minor improvements are needed in presentation, formatting and structure for high professional standards to be met. An excellent use of the English language though minor improvements needed in clarity, sequence, grammar and referencing. The Letter includes the letterhead with a logo and business name. Recipient name and address clearly identified. Date and subject line included. An inconsistent application of professional standards of presentation, formatting and structure. A solid use of the English language though inconsistencies exists in terms of clarity, sequence, grammar and referencing. The Letter includes the letterhead with a logo and business name. Recipient name and address clearly identified. Date and subject line included. Major improvements are needed in terms of presentation, formatting and structure. An acceptable level of English but major improvements are required in terms of clarity, sequence, grammar and referencing. The Letter does not include a letterhead and there is no logo or business name. Recipient name and address is not clearly identified. Date and subject line included. Unprofessional presentation and formatting with a structure that does not flow. The application of the English language is difficult to follow, and the standard of clarity, sequence, grammar and referencing is below what would be acceptable by a professional body. TOTAL MARKS (out of 30 marks) ACC203 Financial Accounting 2 page 6 Assignment 3 Case Study
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Part I: Review the current BLS Job Report. Based on your reading and on your knowledge of the labor market, how well is the economy doing in the labor market? (Hint: look at the unemployment rate, jobs added, major differences (between gender, ethnicity, age, and education as it relates to unemployment). This response must be at least 10 sentences in length and it must include proper APA citations.
Part II: Research the term “underemployment.” How can you prevent yourself from falling into this category? This response must be at least 6 sentences and must include proper APA citations.
Part III: Respond to two of your classmates’ posts to either Part I or Part II. If you choose to discuss Part I elaborate on what may be the causes of the unemployment rate differences due to the time of the year, gender, ethnicity, education, and/or age. If you choose to elaborate on Part II, please discuss any other potential tactics that you can use to prevent yourself from becoming “underemployed.” Each response must be at least 6 sentences. If you reference any material, please use proper APA citations.
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In this homework assignment you will use census data from the 1994 and 1995 current population surveys conducted by the U.S. Census Bureau. A copy of this dataset is located at UCI Machine Learning
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In this homework assignment you will use census data from the 1994 and 1995 current population surveys conducted by the U.S. Census Bureau. A copy of this dataset is located at UCI Machine Learning repository, please see this link to reach to the dataset website. This dataset contains census data extracted from the 1994 and 1995 Current Population Surveys. We will only work with ‘training’ data (a link to that is provided to you below). The data contains 41 demographic and employment related variables. The abbreviated column names provided to you below. You are expected to read the documentation of this dataset, understand the features and preprocess this dataset. Additional information can be found in the data description and additional comments. Below you will find a code snippet to download and read the data into a pandas dataframe. You can alternatively download it yourself, extract and read it manually. The questions are shown in the subsequent cells. You can provide your answers in this file. Make sure to change the notebook’s name and add your name before submitting.
### Q1 – Identify the data scales and data types for each variable in census data. Identify the domain for each variable by checking the attributes’ values. Then, create a data quality report for both categorical (nominal, ordinal) and continuous (interval, ratio) variables. For data scales, identify whether an attribute is nominal, ordinal, interval or ratio scale. For data types, identify the domain and provide an appropriate data type (integer, float, String, date, Boolean). See if that data type is correct in your dataframe. For domain, inspect each distinct value for each attribute. Identify missing values. Also include the bar plots and histograms for visualizing the distributions. The examples for a continious and a categorical feature can be seen below. You do not need to use jupyter formatting provided here. You can print a DataFrame or read a csv, and display it. Make sure you have the csv in your zip file.
Q2 – Identify the data quality issues for each attribute. Create a data quality plan and implement the changes. Identify missing values, potential anomalies and outliers. Finally, remedy these issues.
Q3 – For all the interval and ratio scale features, create a scatter plot matrix (pairplots) and correlation matrix. For all ordinal scale features, create a correlation matrix using Spearman correlation. Use the data scales list you created in when creating a correlation matrix using Spearman rank, please use all features having an order (i.e., ordinal, interval, ratio scale variables) and not just ordinal features.
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Premium papers. We provide the highest quality papers in the writing industry. Our company only employs specialized professional writers who take pride in satisfying the needs of our huge client base by offering them premium writing services use census data from the 1994 and 1995 current population surveys conducted by the U.S. Census Bureau.
In this homework assignment you will use census data from the 1994 and 1995 current population surveys conducted by the U.S. Census Bureau. A copy of this dataset is located at UCI Machine Learning re
Need help with Python programming
In this homework assignment you will use census data from the 1994 and 1995 current population surveys conducted by the U.S. Census Bureau. A copy of this dataset is located at UCI Machine Learning repository, please see this link to reach to the dataset website. This dataset contains census data extracted from the 1994 and 1995 Current Population Surveys. We will only work with ‘training’ data (a link to that is provided to you below). The data contains 41 demographic and employment related variables. The abbreviated column names provided to you below. You are expected to read the documentation of this dataset, understand the features and preprocess this dataset. Additional information can be found in the data description and additional comments. Below you will find a code snippet to download and read the data into a pandas dataframe. You can alternatively download it yourself, extract and read it manually. The questions are shown in the subsequent cells. You can provide your answers in this file. Make sure to change the notebook’s name and add your name before submitting.
### Q1 – Identify the data scales and data types for each variable in census data. Identify the domain for each variable by checking the attributes’ values. Then, create a data quality report for both categorical (nominal, ordinal) and continuous (interval, ratio) variables. For data scales, identify whether an attribute is nominal, ordinal, interval or ratio scale. For data types, identify the domain and provide an appropriate data type (integer, float, String, date, Boolean). See if that data type is correct in your dataframe. For domain, inspect each distinct value for each attribute. Identify missing values. Also include the bar plots and histograms for visualizing the distributions. The examples for a continious and a categorical feature can be seen below. You do not need to use jupyter formatting provided here. You can print a DataFrame or read a csv, and display it. Make sure you have the csv in your zip file.
Q2 – Identify the data quality issues for each attribute. Create a data quality plan and implement the changes. Identify missing values, potential anomalies and outliers. Finally, remedy these issues.
Q3 – For all the interval and ratio scale features, create a scatter plot matrix (pairplots) and correlation matrix. For all ordinal scale features, create a correlation matrix using Spearman correlation. Use the data scales list you created in when creating a correlation matrix using Spearman rank, please use all features having an order (i.e., ordinal, interval, ratio scale variables) and not just ordinal features
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Use your selected company Netflix for this week’s assessment.
You’ve become a trusted resource for your organization, and they’ve asked your advice on having a competitive advantage in the field. More specifically, they would like your analysis and recommendations on ways to bring their company culture, demographics, and technologies up to current industry practices and beyond.
Create a 10- to 12-slide presentation with detailed speaker notes and visuals on every slide that includes the following elements:
An analysis of the organization’s current culture (e.g., beliefs, expectations, values, and norms). Address how managers influence the organizational culture.
An evaluation of the impact of demographic forces (e.g., age, gender, ethnic origin, race, sexual orientation, and social class) of your selected organization and what it could be
Note: This is a good place to use your chart/outline/infographic from Wk 5.
An examination of the impact of technological forces (e.g., changes in the technology managers use to design, produce, or distribute goods and services) of your selected company
Consider how this can contribute to innovation within the industry.
An examination on how the organization has complied with ethics and social responsibility behavior
Recommendations of ways to innovate based on your analysis
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