Business Studies 2014 Sample assessment instrument Project: Stop theft, fraud, errors! This sample has been compiled by the QCAA to help teachers plan and develop assessment instruments for individual school settings. It demonstrates the following dimensions, which are highlighted to show where opportunities are provided in the task: • Knowing and understanding • Analysing and applying • Planning and evaluating Assessment instrument Comments Context This instrument is from a unit called Financial administration and is designed to be implemented in Year 11. The focus is internal cash and inventory control. Retail businesses use their assets to generate income. It is critical a business implements appropriate financial policies and procedures to protect assets, prevent fraud and theft, prevent and detect errors, and increase the efficiency and profitability of the business. The core business function is Working in finance. At least two business practices must be covered within each project (Syllabus p. 26). The core Business practices covered in this instrument include: BF2, FL1, FL2, BC2 BT2 and BT3. A project includes at least two different assessable components (Syllabus p. 26). You will participate in a field trip to a local small retail business where the owner/manager will provide you with a tour. You will observe the financial policies and procedures the business uses to record, process and internally control cash and inventories. You are required to complete three components for this task: 1. Write a short report (400–700 words) for the owner/manager on the effectiveness of the business’ financial policies and procedures. 2. Create a new financial policies and procedures manual for recording, processing and internally controlling the business’ cash and inventories. 3. Prepare a 1½–3½ minute spoken presentation evaluating the impact the new financial policies and procedures (documented in the manual) will have on the internal control of cash and inventories for the business. You will present your evaluation to your peers. 150296 The elective business context is Retail. Task Comments Component 1: Written — Report The task provides opportunities to demonstrate: • description of concepts and ideas related to business functions You are required to write a short report (400–700 words) that will: • explanation of concepts and ideas related to business functions • processes, procedures and skills related to business functions to complete tasks • analysis of business information in business functions and contexts • use of language conventions and features to communicate ideas and information • describe and explain the current financial policies and procedures being implemented by the business which are effective and appropriate for the internal control of cash and inventories. Provide examples from the business to support your discussion • analyse the weaknesses with the current financial policies and procedures for the internal control of cash and inventories • make and justify decisions for three solutions to improve the internal control of cash and inventories in the business. The report will be prepared using Microsoft Word. Write in sentences and paragraphs and use business language. It will include report headings, paragraph headings, headers and footers. You may insert objects (pictures, diagrams, spreadsheets, etc.) to support your discussion and analysis. Use captions where appropriate. Component 2: Practical — Policies and procedures manual You will be provided with an electronic copy of the Australian Taxation Office (ATO) template financial policies and procedures manual. You will apply your knowledge, understanding and skills to plan and prepare a new financial policies and procedures manual for the business by editing the ATO template using Microsoft Word. • application of business information in business functions and contexts The manual will include: • policies and procedures used by the business to internally control cash and inventories • decisions with justification for business solutions and outcomes • the integration of the solutions recommended in the report • examples of existing and new financial documents and records to record cash and inventories (Use Microsoft Excel to prepare these documents). • planning and organisation of business solutions and outcomes • evaluation of business decisions, solutions and outcomes. Component 3: Spoken — Evaluation Prepare a 1½–3½ minute spoken presentation evaluating the effectiveness of the new financial policies and procedures (documented in the manual) using the following criteria: • protects assets (cash and inventories) • prevents fraud and theft of cash and inventories • prevents and detects errors in the recording and processing of cash and inventories • increases efficiency • increases profitability. A decision-making tool may be used to plan and organise your evaluation. Business Studies 2014 Sample assessment instrument Queensland Curriculum & Assessment Authority April 2015 Page 2 of 5 Conditions Assessment conditions Semesters 1–2 Written component 400–700 words Spoken component 1½–3½ minutes Practical component One week of class time will be provided to complete this task. Authentication strategies Initial discussion: Discuss your plan (ideas) for the report, manual and evaluation with your teacher. Progress • Show your teacher planning documents for the report, Excel spreadsheets and manual, and adjust responses based on feedback. • Discuss the spoken evaluation with your teacher prior to your class presentation. Provide a copy of the decision-making tool or other planning documents used to make evaluations. Adjust responses based on feedback. Drafting A draft: • report is required two weeks after the field trip • manual is required three weeks after the field trip. Further advice regarding authentication strategies is available in the document Advice about strategies for authenticating student work for learning and assessment (available at www.qcaa.qld.edu.au/downloads/senior/snr_tla_strat_auth_stud_work.docx) and in video clips in the series Implementing teaching, learning and assessment (available via the Senior assessment hub at https://www.qcaa.qld.edu.au/31164.html). Business Studies 2014 Sample assessment instrument Queensland Curriculum & Assessment Authority April 2015 Page 3 of 5 Analysing and applying Knowing and understanding Instrument-specific standards matrix Standard A Standard B Standard C Standard D Standard E The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: • comprehensive description of concepts and ideas related to working in finance • thorough description of concepts and ideas related to working in finance • description of concepts and ideas related to working in finance • simple description of concepts and ideas related to working in finance • partial description of business concepts and ideas • comprehensive explanation of concepts and ideas related to working in finance, using relevant examples • thorough explanation of concepts and ideas related to working in finance, using examples • explanation of concepts and ideas related to working in finance • simple explanation of concepts and ideas related to working in finance • partial explanation of concepts and/or ideas • precise and efficient demonstration of processes, procedures and skills related to working in finance to complete tasks. • precise demonstration of processes, procedures and skills related to working in finance to complete tasks. • demonstration of processes, procedures and skills related to working in finance to complete tasks. • demonstration of simple processes, procedures and skills to complete obvious tasks. • demonstration of basic business skills. The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: • considered analysis of a wide range of business information in working in finance and retail • informed analysis of a range of business information in working in finance and retail • analysis of business information in working in finance and retail • identification of obvious relationships between business information in working in finance and retail • identification of aspects of business information • discerning and efficient application of knowledge, understandings and skills related to working in finance and retail • systematic application of knowledge, understandings and skills related to working in finance and retail • application of knowledge, understandings and skills related to working in finance and retail • simple application of knowledge, understanding and skills related to working in finance and retail • partial application of knowledge, understanding and skills Business Studies 2014 Sample assessment instrument Queensland Curriculum & Assessment Authority April 2015 Page 4 of 5 Planning and evaluating Standard A Standard B Standard C Standard D Standard E • • • • • proficient use of language conventions and features to effectively communicate ideas and information. controlled use of language conventions and features to clearly communicate ideas and information. use of language conventions and features to communicate ideas and information. inconsistent use of simple language conventions and features to communicate ideas and information. use of basic language conventions and features for partial communication of information. The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: The student work has the following characteristics: • discerning decisions with well-reasoned justification for financial administration solutions and outcomes • informed decisions with valid justification for financial administration solutions and outcomes • plausible decisions, with justification for financial administration solutions and outcomes • decisions for financial administration solutions and outcomes • statement of opinion about solutions or outcomes • comprehensive planning and efficient organisation of financial administration solutions and outcomes • detailed planning and logical organisation of financial administration solutions and outcomes • planning and organisation of financial administration solutions and outcomes • simple planning and organisation relating to aspects of financial administration solutions and outcomes • collection of information related to planning • considered and comprehensive evaluation of financial administration decisions, solutions and outcomes. • informed evaluation of financial administration decisions, solutions and outcomes. • evaluation of financial administration decisions, solutions and outcomes. • simple evaluation of financial administration decisions, solutions and outcomes. • statement about decisions, solutions or outcomes. This standards matrix has been made instrument-specific by specifying the context. Business Studies 2014 Sample assessment instrument Queensland Curriculum & Assessment Authority April 2015 Page 5 of 5