TG - Audit Financial Procedures - 270715 PDF

Audit financial procedures
D1.HFI.CL8.01
D1.HFA.CL7.05
D2.TFA.CL7.01
Trainer Guide
Audit financial
procedures
D1.HFI.CL8.01
D1.HFA.CL7.05
D2.TFA.CL7.01
Trainer Guide
Project Base
William Angliss Institute of TAFE
555 La Trobe Street
Melbourne 3000 Victoria
Telephone: (03) 9606 2111
Facsimile: (03) 9670 1330
Acknowledgements
Project Director: Wayne Crosbie
Project Manager Jim Irwin
Chief Writer: Alan Hickman
Subject Writer: Nick Hyland and Dianne Whelan
Editor: Jim Irwin
DTP/Production: Daniel Chee, Mai Vu, Cindy Curran
The Association of Southeast Asian Nations (ASEAN) was established on 8 August 1967. The Member
States of the Association are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia,
Myanmar, Philippines, Singapore, Thailand and Viet Nam.
The ASEAN Secretariat is based in Jakarta, Indonesia.
General Information on ASEAN appears online at the ASEAN Website: www.asean.org.
All text is produced by William Angliss Institute of TAFE for the ASEAN Project on “Toolbox
Development for Tourism Labour Divisions for Travel Agencies and Tour Operations”.
This publication is supported by the Australian Government’s aid program through the ASEAN-
Australia Development Cooperation Program Phase II (AADCP II).
Copyright: Association of Southeast Asian Nations (ASEAN) 2015.
All rights reserved.
Disclaimer
Every effort has been made to ensure that this publication is free from errors or omissions. However,
you should conduct your own enquiries and seek professional advice before relying on any fact,
statement or matter contained in this book. The ASEAN Secretariat and William Angliss Institute of
TAFE are not responsible for any injury, loss or damage as a result of material included or omitted
from this course. Information in this module is current at the time of publication. Time of publication is
indicated in the date stamp at the bottom of each page.
Some images appearing in this resource have been purchased from stock photography suppliers
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and non-exclusive. Clip arts, font images and illustrations used are from the Microsoft Office Clip Art
and Media Library. Some images have been provided by and are the property of William Angliss
Institute.
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licence: http://creativecommons.org/licenses/by/2.0/deed.en
File name: TG_Audit financial procedures_270715
Table of contents
Competency Based Training (CBT) and assessment – An introduction for trainers .......... 1
Competency standard ..................................................................................................... 11
Notes and PowerPoint slides .......................................................................................... 19
Activities ......................................................................................................................... 87
Recommended training equipment ............................................................................... 127
Instructions for Trainers for using PowerPoint – Presenter View ................................... 129
Appendix – ASEAN acronyms ...................................................................................... 131
© ASEAN 2015
Trainer Guide
© ASEAN 2015
Trainer Guide
Competency Based Training (CBT) and assessment – An introduction for trainers
Competency Based Training (CBT) and

assessment – An introduction for trainers
Competency
Competency refers to the ability to perform particular tasks and duties to the standard of
performance expected in the workplace.
Competency requires the application of specified knowledge, skills and attitudes relevant
to effective participation, consistently over time and in the workplace environment.
The essential skills and knowledge are either identified separately or combined.
Knowledge identifies what a person needs to know to perform the work in an informed
and effective manner.
Skills describe the application of knowledge to situations where understanding is
converted into a workplace outcome.
Attitude describes the founding reasons behind the need for certain knowledge or why
skills are performed in a specified manner.
Competency covers all aspects of workplace performance and involves:
 Performing individual tasks
 Managing a range of different tasks
 Responding to contingencies or breakdowns
 Dealing with the responsibilities of the workplace
 Working with others.
Unit of competency
Like with any training qualification or program, a range of subject topics are identified that
focus on the ability in a certain work area, responsibility or function.
Each manual focuses on a specific unit of competency that applies in the hospitality
workplace.
In this manual a unit of competency is identified as a ‘unit’.
Each unit of competency identifies a discrete workplace requirement and includes:
 Knowledge and skills that underpin competency
 Language, literacy and numeracy
 Occupational safety and health requirements.
Each unit of competency must be adhered to in training and assessment to ensure
consistency of outcomes.
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Trainer Guide 1
Element of competency
An element of competency describes the essential outcomes within a unit of competency.

The elements of competency are the basic building blocks of the unit of competency.
They describe in terms of outcomes the significant functions and tasks that make up the
competency.
In this manual elements of competency are identified as an ‘element’.
Performance criteria
Performance criteria indicate the standard of performance that is required to demonstrate

achievement within an element of competency. The standards reflect identified industry
skill needs.
Performance criteria will be made up of certain specified skills, knowledge and attitudes.
Learning
For the purpose of this manual learning incorporates two key activities:
 Training
 Assessment.
Both of these activities will be discussed in detail in this introduction.
Today training and assessment can be delivered in a variety of ways. It may be provided
to participants:
 On-the-job – in the workplace
 Off-the-job – at an educational institution or dedicated training environment
 As a combination of these two options.
No longer is it necessary for learners to be absent from the workplace for long periods of
time in order to obtain recognised and accredited qualifications.
Learning approaches
This manual will identify two avenues to facilitate learning:

Competency Based Training (CBT)
This is the strategy of developing a participant’s competency.
Educational institutions utilise a range of training strategies to ensure that participants are
able to gain the knowledge and skills required for successful:
 Completion of the training program or qualification
 Implementation in the workplace.
The strategies selected should be chosen based on suitability and the learning styles of
participants.
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Competency Based Assessment (CBA)
This is the strategy of assessing competency of a participant.

Educational institutions utilise a range of assessment strategies to ensure that
participants are assessed in a manner that demonstrates validity, fairness, reliability,
flexibility and fairness of assessment processes.
Flexibility in learning
It is important to note that flexibility in training and assessment strategies is required to

meet the needs of participants who may have learning difficulties. The strategies used will
vary, taking into account the needs of individual participants with learning difficulties.
However they will be applied in a manner which does not discriminate against the
participant or the participant body as a whole.
Catering for participant diversity
Participants have diverse backgrounds, needs and interests. When planning training and
assessment activities to cater for individual differences, trainers and assessors should:
 Consider individuals’ experiences, learning styles and interests
 Develop questions and activities that are aimed at different levels of ability
 Modify the expectations for some participants
 Provide opportunities for a variety of forms of participation, such as individual, pair and
small group activities
 Assess participants based on individual progress and outcomes.
The diversity among participants also provides a good reason for building up a learning
community in which participants support each other’s learning.
Participant centred learning
This involves taking into account structuring training and assessment that:
 Builds on strengths – Training environments need to demonstrate the many positive
features of local participants (such as the attribution of academic success to effort,
and the social nature of achievement motivation) and of their trainers (such as a
strong emphasis on subject disciplines and moral responsibility). These strengths and
uniqueness of local participants and trainers should be acknowledged and treasured
 Acknowledges prior knowledge and experience – The learning activities should be
planned with participants’ prior knowledge and experience in mind
 Understands learning objectives – Each learning activity should have clear learning
objectives and participants should be informed of them at the outset. Trainers should
also be clear about the purpose of assignments and explain their significance to
participants
 Teaches for understanding – The pedagogies chosen should aim at enabling
participants to act and think flexibly with what they know
 Teaches for independent learning – Generic skills and reflection should be nurtured
through learning activities in appropriate contexts of the curriculum. Participants
should be encouraged to take responsibility for their own learning
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 Enhances motivation – Learning is most effective when participants are motivated.

Various strategies should be used to arouse the interest of participants
 Makes effective use of resources – A variety of teaching resources can be employed
as tools for learning
 Maximises engagement – In conducting learning activities, it is important for the minds
of participants to be actively engaged
 Aligns assessment with learning and teaching – Feedback and assessment should be
an integral part of learning and teaching
 Caters for learner diversity – Trainers should be aware that participants have different
characteristics and strengths and try to nurture these rather than impose a standard
set of expectations.
Active learning
The goal of nurturing independent learning in participants does not imply that they always
have to work in isolation or solely in a classroom. On the contrary, the construction of
knowledge in tourism and hospitality studies can often best be carried out in collaboration
with others in the field. Sharing experiences, insights and views on issues of common
concern, and working together to collect information through conducting investigative
studies in the field (active learning) can contribute a lot to their eventual success.
Active learning has an important part to play in fostering a sense of community in the
class. First, to operate successfully, a learning community requires an ethos of
acceptance and a sense of trust among participants, and between them and their trainers.
Trainers can help to foster acceptance and trust through encouragement and personal
example, and by allowing participants to take risks as they explore and articulate their
views, however immature these may appear to be. Participants also come to realise that
their classmates (and their trainers) are partners in learning and solving.
Trainers can also encourage cooperative learning by designing appropriate group
learning tasks, which include, for example, collecting background information, conducting
small-scale surveys, or producing media presentations on certain issues and themes.
Participants need to be reminded that, while they should work towards successful
completion of the field tasks, developing positive peer relationships in the process is an
important objective of all group work.
Competency Based Training (CBT)
Principle of Competency Based Training

Competency based training is aimed at developing the knowledge, skills and attitudes of
participants, through a variety of training tools.
Training strategies
The aims of this curriculum are to enable participants to:
 Undertake a variety of subject courses that are relevant to industry in the current
environment
 Learn current industry skills, information and trends relevant to industry
 Learn through a range of practical and theoretical approaches
 Be able to identify, explore and solve issues in a productive manner
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 Be able to become confident, equipped and flexible managers of the future

 Be ‘job ready’ and a valuable employee in the industry upon graduation of any
qualification level.
To ensure participants are able to gain the knowledge and skills required to meet
competency in each unit of competency in the qualification, a range of training delivery
modes are used.
Types of training
In choosing learning and teaching strategies, trainers should take into account the
practical, complex and multi-disciplinary nature of the subject area, as well as their
participant’s prior knowledge, learning styles and abilities.
Training outcomes can be attained by utilising one or more delivery methods:
Lecture/tutorial
This is a common method of training involving transfer of information from the trainer to
the participants. It is an effective approach to introduce new concepts or information to the
learners and also to build upon the existing knowledge. The listener is expected to reflect
on the subject and seek clarifications on the doubts.
Demonstration
Demonstration is a very effective training method that involves a trainer showing a
participant how to perform a task or activity. Through a visual demonstration, trainers may
also explain reasoning behind certain actions or provide supplementary information to
help facilitate understanding.
Group discussions
Brainstorming in which all the members in a group express their ideas, views and
opinions on a given topic. It is a free flow and exchange of knowledge among the
participants and the trainer. The discussion is carried out by the group on the basis of
their own experience, perceptions and values. This will facilitate acquiring new
knowledge. When everybody is expected to participate in the group discussion, even the
introverted persons will also get stimulated and try to articulate their feelings.
The ideas that emerge in the discussions should be noted down and presentations are to
be made by the groups. Sometimes consensus needs to be arrived at on a given topic.
Group discussions are to be held under the moderation of a leader guided by the trainer.
Group discussion technique triggers thinking process, encourages interactions and
enhances communication skills.
Role play
This is a common and very effective method of bringing into the classroom real life
situations, which may not otherwise be possible. Participants are made to enact a
particular role so as to give a real feel of the roles they may be called upon to play. This
enables participants to understand the behaviour of others as well as their own emotions
and feelings. The instructor must brief the role players on what is expected of them. The
role player may either be given a ready-made script, which they can memorise and enact,
or they may be required to develop their own scripts around a given situation. This
technique is extremely useful in understanding creative selling techniques and human
relations. It can be entertaining and energising and it helps the reserved and less literate
to express their feelings.
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Trainer Guide 5
Simulation games
When trainees need to become aware of something that they have not been conscious of,
simulations can be a useful mechanism. Simulation games are a method based on "here
and now" experience shared by all the participants. The games focus on the participation
of the trainees and their willingness to share their ideas with others. A "near real life"
situation is created providing an opportunity to which they apply themselves by adopting
certain behaviour. They then experience the impact of their behaviour on the situation. It
is carried out to generate responses and reactions based on the real feelings of the
participants, which are subsequently analysed by the trainer.
While use of simulation games can result in very effective learning, it needs considerable
trainer competence to analyse the situations.
Individual /group exercises
Exercises are often introduced to find out how much the participant has assimilated. This
method involves imparting instructions to participants on a particular subject through use
of written exercises. In the group exercises, the entire class is divided into small groups,
and members are asked to collaborate to arrive at a consensus or solution to a problem.
Case study
This is a training method that enables the trainer and the participant to experience a real
life situation. It may be on account of events in the past or situations in the present, in
which there may be one or more problems to be solved and decisions to be taken. The
basic objective of a case study is to help participants diagnose, analyse and/or solve a
particular problem and to make them internalise the critical inputs delivered in the training.
Questions are generally given at the end of the case study to direct the participants and to
stimulate their thinking towards possible solutions. Studies may be presented in written or
verbal form.
Field visit
This involves a carefully planned visit or tour to a place of learning or interest. The idea is
to give first-hand knowledge by personal observation of field situations, and to relate
theory with practice. The emphasis is on observing, exploring, asking questions and
understanding. The trainer should remember to brief the participants about what they
should observe and about the customs and norms that need to be respected.
Group presentation
The participants are asked to work in groups and produce the results and findings of their
group work to the members of another sub-group. By this method participants get a good
picture of each other's views and perceptions on the topic and they are able to compare
them with their own point of view. The pooling and sharing of findings enriches the
discussion and learning process.
Practice sessions
This method is of paramount importance for skills training. Participants are provided with
an opportunity to practice in a controlled situation what they have learnt. It could be real
life or through a make-believe situation.
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Games
This is a group process and includes those methods that involve usually fun-based
activity, aimed at conveying feelings and experiences, which are everyday in nature, and
applying them within the game being played. A game has set rules and regulations, and
may or may not include a competitive element. After the game is played, it is essential
that the participants be debriefed and their lessons and experiences consolidated by the
trainer.
Research
Trainers may require learners to undertake research activities, including online research,
to gather information or further understanding about a specific subject area.
Competency Based Assessment (CBA)
Principle of Competency Based Assessment

Competency based assessment is aimed at compiling a list of evidence that shows that a
person is competent in a particular unit of competency.
Competencies are gained through a multitude of ways including:
 Training and development programs
 Formal education
 Life experience
 Apprenticeships
 On-the-job experience
 Self-help programs.
All of these together contribute to job competence in a person. Ultimately, assessors and
participants work together, through the ‘collection of evidence’ in determining overall
competence.
This evidence can be collected:
 Using different formats
 Using different people
 Collected over a period of time.
The assessor, who is ideally someone with considerable experience in the area being
assessed, reviews the evidence and verifies the person as being competent or not.
Flexibility in assessment
Whilst allocated assessment tools have been identified for this subject, all attempts are
made to determine competency and suitable alternate assessment tools may be used,
according to the requirements of the participant.
The assessment needs to be equitable for all participants, taking into account their
cultural and linguistic needs.
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Competency must be proven regardless of:

 Language
 Delivery Method
 Assessment Method.
Assessment objectives
The assessment tools used for subjects are designed to determine competency against
the ‘elements of competency’ and their associated ‘performance criteria’.
The assessment tools are used to identify sufficient:
a) Knowledge, including underpinning knowledge
b) Skills
c) Attitudes
Assessment tools are activities that trainees are required to undertake to prove participant
competency in this subject.
All assessments must be completed satisfactorily for participants to obtain competence in
this subject. There are no exceptions to this requirement, however, it is possible that in
some cases several assessment items may be combined and assessed together.
Types of assessment
Allocated Assessment Tools
There are a number of assessment tools that are used to determine competency in this
subject:
 Work projects
 Written questions
 Oral questions
 Third Party Report
 Observation Checklist.
Instructions on how assessors should conduct these assessment methods are explained
in the Assessment Manuals.
Alternative assessment tools
Whilst this subject has identified assessment tools, as indicated above, this does not
restrict the assessor from using different assessment methods to measure the
competency of a participant.
Evidence is simply proof that the assessor gathers to show participants can actually do
what they are required to do.
Whilst there is a distinct requirement for participants to demonstrate competency, there
are many and diverse sources of evidence available to the assessor.
Ongoing performance at work, as verified by a supervisor or physical evidence, can count
towards assessment. Additionally, the assessor can talk to customers or work colleagues
to gather evidence about performance.
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A range of assessment methods to assess competency include:

 Practical demonstrations
 Practical demonstrations in simulated work conditions
 Problem solving
 Portfolios of evidence
 Critical incident reports
 Journals
 Oral presentations
 Interviews
 Videos
 Visuals: slides, audio tapes
 Case studies
 Log books
 Projects
 Role plays
 Group projects
 Group discussions
 Examinations.
Recognition of Prior Learning
Recognition of Prior Learning is the process that gives current industry professionals who
do not have a formal qualification, the opportunity to benchmark their extensive skills and
experience against the standards set out in each unit of competency/subject.
Also known as a Skills Recognition Audit (SRA), this process is a learning and
assessment pathway which encompasses:
 Recognition of Current Competencies (RCC)
 Skills auditing
 Gap analysis and training
 Credit transfer.
Assessing competency
As mentioned, assessment is the process of identifying a participant’s current knowledge,
skills and attitudes sets against all elements of competency within a unit of competency.
Traditionally in education, grades or marks were given to participants, dependent on how
many questions the participant successfully answered in an assessment tool.
Competency based assessment does not award grades, but simply identifies if the
participant has the knowledge, skills and attitudes to undertake the required task to the
specified standard.
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Therefore, when assessing competency, an assessor has two possible results that can be
awarded:
 Pass Competent (PC)
 Not Yet Competent (NYC).
Pass Competent (PC)
If the participant is able to successfully answer or demonstrate what is required, to the
expected standards of the performance criteria, they will be deemed as ‘Pass Competent’
(PC).
The assessor will award a ‘Pass Competent’ (PC) if they feel the participant has the
necessary knowledge, skills and attitudes in all assessment tasks for a unit.
Not Yet Competent’ (NYC)
If the participant is unable to answer or demonstrate competency to the desired standard,
they will be deemed to be ‘Not Yet Competent’ (NYC).
This does not mean the participant will need to complete all the assessment tasks again.
The focus will be on the specific assessment tasks that were not performed to the
expected standards.
The participant may be required to:
a) Undertake further training or instruction
b) Undertake the assessment task again until they are deemed to be ‘Pass Competent’.
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Competency standard
Competency standard
UNIT TITLE: AUDIT FINANCIAL PROCEDURES NOMINAL HOURS: 60
UNIT NUMBER: D1.HFI.CL8.01 D1.HFA.CL7.05 D2.TFA.CL7.01
UNIT DESCRIPTOR: This unit deals with the skills and knowledge required to audit financial procedures in a range of settings within the labour
divisions of the hotel and travel industries.
ELEMENTS AND PERFORMANCE CRITERIA UNIT VARIABLE AND ASSESSMENT GUIDE
Element 1. Monitor financial procedures Unit Variables
1.1 Check transactions accord with enterprise The Unit Variables provide advice to interpret the scope and context of this unit of
procedures competence, allowing for differences between enterprises and workplaces. It relates to the
unit as a whole and facilitates holistic assessment.
1.2 Balance transactions accurately
This unit applies to audit financial procedures within the labour divisions of the hotel and
1.3 Check balances prepared by others are in
travel industries and may include:
accordance with enterprise procedures
1. Front Office
1.4 Implement and control financial systems in
accordance with enterprise procedures 2. Housekeeping
1.5 Monitor financial systems and provide input 3. Food and Beverage Service
on possible improvements to appropriate 4. Food Production
personnel
5. Travel Agencies
1.6 Identify and resolve discrepancies or errors
according to level of responsibility and in 6. Tour Operation
consultation with designated persons Transactions may include:
 Purchasing of a fixed asset on credit
 Selling of a fixed asset on credit
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Competency standard
Element 2. Complete financial reports  Correcting posting errors

2.1 Accurately complete routine  Writing-off a bad debt
financial/statistical reports within
 Incurring interest expense
designated timelines
 Incurring interest receivable
2.2 Forward financial/statistical reports
promptly to the appropriate  Commencing business entries
person/department
 Withdrawing of stock/assets by owner
 Making non-cash transactions, e.g. Writing off depreciation, stock losses
 Working in foreign currency amounts.
Check balances may include:
 Checking accuracy of debtor account balances, e.g. Cash receipts journal, sales return
journal, general journal
 Checking accuracy of creditor account balances, e.g. Cash payments journal, purchases
journal, purchases returns journal, general journal
 Checking the total of the debtor's schedule equals the balance of the debtor's control
account
 Checking the total of the creditor's schedule equals the balance of the creditor's control
account.
Financial systems should relate to:
 Sales and sales returns
 Purchases and purchase returns
 Cash receipts
 Cash payments
 Asset acquisition
 Stock control
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Competency standard
 Debtor control
 Creditor control
 Petty cash
 Banking procedures
 Cash control, e.g. Security, floats.
Discrepancies or errors may relate to:
 Data entry errors
 Sales that should have had an invoice raised but by error did not
 Goods not delivered but charged for
 Posting errors, including:
 Posting of the wrong amount
 Omitting a posting
 Posting in the wrong column
 Posting more than once.
Designated persons may include:
 Supervisor
 Bank personnel
 Authorised department persons
 Line management
 Statutory body personnel.
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Competency standard
Financial/statistical reports may relate to:

 Daily, weekly, monthly transactions and reports
 Break up by department
 Occupancy
 Sales performance
 Commission earnings
 Sales returns
 Commercial account activity
 Foreign currency activities
 All types of payment.
Designated timelines may relate to:
 Within agreed period
 Monthly
 By month end
 Within organisational deadline.
Assessment Guide
The following skills and knowledge must be assessed as part of this unit:
 Understanding of the processes to identify and respond to discrepancies and errors
 Understanding of the processes to identify and comply with organisational requirements
 Understanding of the principles of double entry bookkeeping and accrual accounting.
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Competency standard
Linkages To Other Units

 Develop and implement business plans
 Develop and implement operational plans
 Plan and establish systems and procedures
 Prepare business documents
 Maintain financial performance within a budget
 Maintain financial standards and records
 Manage legal requirements for business compliance
 Manage physical assets and infrastructure
 Lead and manage people.
Critical Aspects of Assessment
Evidence of the following is essential:
 Demonstrated ability to audit financial procedures within a travel and hotel industry
context
 Consistency of performance across a range of situations that demonstrates knowledge,
understanding and skill in implementing the principles double entry bookkeeping and
accrual accounting in order to audit financial procedures.
Context of Assessment
This unit may be assessed on or off the job:
 Assessment should include practical demonstration of the ability to maintain financial
standards and records in the workplace or through a simulation activity, supported by a
range of methods to assess underpinning knowledge
 Assessment must relate to the individual’s work area, job role and area of responsibility
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Competency standard
 Assessment must include project or work activities that allow the candidate to respond to
multiple and varying workplace issues relevant to work area, job role and area of
responsibility that allow the candidate to demonstrate knowledge and awareness of
auditing financial procedures.
Resource Implications
Training and assessment to include access to a real or simulated commercial workplace
environment in which financial procedures can be audited; and access to workplace
standards, procedures, policies, guidelines, tools and equipment.
Assessment Methods
The following methods may be used to assess competency for this unit:
 Case studies
 Observation of practical candidate performance
 Oral and written questions
 Portfolio evidence
 Problem solving
 Role plays
 Third party reports completed by a supervisor
 Project and assignment work.
Key Competencies in this Unit
Level 1 = competence to undertake tasks effectively
Level 2 = competence to manage tasks
Level 3 = competence to use concepts for evaluating
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Competency standard
Key Competencies Level Examples

Collecting, organising and 3 Analyse financial information to audit
analysing information financial procedures
Communicating ideas and 3 Express complex strategies in a clear and
information concise format
Planning and organising activities 3 Perform activities in line with business
requirements
Working with others and in teams 3 Devise strategies to ensure team
commitment to budget control
Using mathematical ideas and 2 Calculate deviations and reverse errors
techniques
Solving problems 3 Identify discrepancies and errors
Using technology 2 Identify and analyse the optimum use of
technology to achieve business objectives;
use accounting software
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Competency standard
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Notes and PowerPoint slides

Slide
Slide No Trainer Notes
1.  Trainer welcomes students to class

 Discuss housekeeping issues such as times of attendance, expected classroom
behaviour, contact details, any resources required such as a calculator
 Explain that the trainees will be assessed and the requirements of those
assessments.
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Slide
2. Trainer advises this Unit comprises two Elements, as listed on the slide explaining:
 Each Element comprises a number of Performance Criteria which will be identified
throughout the class and explained in detail
 Trainees can obtain more detail from their Trainee Manual(TM)
 At times the course presents advice and information about various protocols but
where their workplace requirements differ to what is presented, the workplace
practices and standards, as well as policies and procedures must be observed.
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Slide
3.  Trainer advises that assessment for this Unit may take several forms all of which
are aimed at verifying they have achieved competency for the Unit as required
 Trainer indicates the methods of assessment that will be applied to them for this
Unit.
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Slide
4.  Trainer advises trainees this Element is comprised of six Performance Criteria

which will be identified throughout the class and explained in detail
 Trainees can obtain more detail from their Trainee Manual.
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Slide
5. Discuss this topic and brainstorm ideas completing Activity 1 as the summary.
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Slide
6. Discuss and clarify as necessary.
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Slide
7.  Ask trainees to close their manuals

 Ask each trainee to write a definition on their understanding of auditing
 Quickly have each person read their definition
 Brainstorm auditing and its purpose
 When complete, highlight key points in TM including auditing definition
 Review the bullet points and compare against what was brainstormed.
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Trainer Guide 25
Slide
8.  Discuss each point explaining with some detail what activities are involved and its
importance in the cycle
 Have a sample, ledger, journal and financial report as examples for trainees to
view.
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9. Remind trainees that the exchange of money or credit cards is not always involved.
© ASEAN 2015
Trainer Guide 27
Slide
10.  The remainder of this performance criteria has many points to cover (on this slide
and the next) which may not maintain the interest of trainees. Engage trainees by
having them deliver the training
 Divide the group into groups of 2-3. Allocate topics. Ask trainees to read the
associated information and prepare a short training session for the group. Any
Activities in the TM (available for individual printing from Trainer guide if needed)
are to be included with the topic. Allocate an appropriate time allowance for delivery
based on the number and size of topic/s
 Provide a time frame for preparation and any other research
 During this time trainer must circulate groups to ensure they understand their topics
and are including adequate and necessary information. Trainer can advise trainees
on presentation methods that could be included. (power point, handout, quiz,
activity and so on)
 After each presentation have question time. Trainer can cover any key points
missed or clarify as necessary information
 If possible have some reward to thank trainees for their efforts.
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Slide
11.  See notes on previous slide

missed or clarify as necessary information
© ASEAN 2015
Trainer Guide 29
Slide
12.  Discuss as necessary

 Brainstorm any well-known ‘of the shelf’ book keeping systems
 Have trainees share any relevant skills and knowledge.
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30 Trainer Guide
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13.  Discuss as necessary

 Ensure knowledge of terms used
 Show samples of each type of document if available
 Explain the use of Subsidiary ledgers to support General ledger.
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Slide
14.  Discuss each point as necessary and ensure trainees have a clear understanding of
each
 Show samples if available.
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32 Trainer Guide
Slide
15.  Discuss each point as necessary and ensure trainees have a clear understanding of
each
 Show samples if available or search bank reconciliation templates on Google
Images
 Review the steps for preparing a bank rec. and complete exercise 1 and 2. Review
and discuss as needed.
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Trainer Guide 33
Slide
16. Discuss each point as necessary and ensure trainees have a clear understanding of
each.
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34 Trainer Guide
Slide
17.  Explain Trial Balance image

 Quiz trainees on their understanding to determine if further explanation is required.
© ASEAN 2015
Trainer Guide 35
Slide
18.  Discuss each point as necessary

 Providing information will be covered again later
 Complete Activity 8 and have trainees share their answers.
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19.  In accounting circles there is a saying ‘who is checking the checker?’

 Everyone must be accountable to avoid the possibility of embezzlement or fraud
 Share any knowledge or experience that may be relevant to this
 Complete Activity 9.
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Slide
20. Highlight key points and share relevant knowledge and experience.
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38 Trainer Guide
Slide
21. Highlight key points and complete Activities 10 and 11.
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Trainer Guide 39
Slide
22.  Discuss possible scenarios this may relate to. Ask trainees if they have any
knowledge or experience in this area
 Discuss who appropriate colleagues may be to help resolve such situations
 Complete Activity 12 and share answers.
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23.  Have discussion about outstanding entries or accounts. Does anyone have any
experience with this?
 Outstanding entries may reflect back on employees not following procedure
properly which would result in staff memos or re-training
 Consider what might happen in the workplace regarding larger outstanding entries.
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Slide
24.  Highlight the types of documents required to source information

 Brainstorm this.
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42 Trainer Guide
Slide
25. Confirm with trainees if they know any other terms that may be used.
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26.  Consider which of these units may be found in small and large organisations. Can
anyone think of any others?
 Have some discussion about the financial responsibility of these units as this is the
requirement of the activity
 Complete Activity 13 and review answers.
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27. Activity
 This performance criterion is very large and relates to the many controls in place
with financial procedures. As with Performance Criteria(PC) 1.1 this PC will be more
engaging for trainees if they are required to read, research and present the
information with trainer support
 Divide the group into small groups (consider if the groups should be different to last
time).
 Allocate topics
 Ask trainees to read the associated information and prepare a short training session
for the group. Any Activities in the TM (available for individual printing from Trainer
guide if needed) are to be included with the topic. Allocate an appropriate time
allowance for delivery based on the number and size of topic/s. Remind trainees
information falls into three categories
 Must know
 Need to know
 Nice to know
 It is the ‘must know’ that is essential when working to a time frame.
 Provide a time frame for preparation and any other research
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Trainer Guide 45
 During this time trainer must circulate groups to ensure they understand their topics
and are including adequate and necessary information. Trainer can advise trainees
on presentation methods that could be included. (you tube clips, internet links,
power point, handout, quiz, activities and so on)
missed or clarify as necessary information. Trainer must quiz or question trainees to
ensure they have learned key information
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28. See notes slide 27.
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© ASEAN 2015
Trainer Guide 49
Slide
31. The 3 common analysis methods are as follows:

 Horizontal
 Vertical
 Ratio.
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32. Methods of financial statement analysis generally involve comparing certain information:
 Across periods
 Across companies
 Against benchmarks.
Enquire if any trainees have knowledge or experience in this area.
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Slide
33.  Discuss the following

 In the following example, we noted the following:
 Sales in Year 2 is better than Year 1
 Expenses in Year 2 is higher than Year 1
 Profit in Year 2 is higher than Year 1
 Question: Is Year 2 doing better than year 1?
 If we are to express sales as a base for both years, the following points are noted:
 Out of $100 sales made in Year 2, $53 is spent leaving a profit of $47
 Out of $100 sales made in Year 2, $40 is spent leaving a profit of $60
 The size of the financial statements in the above example has been made to be of
common size for meaningful comparison.
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34.  Review this balance sheet from the TM

 Balance sheet can be analysed using vertical financial analysis. Each item of the
balance sheet can be compared to the total assets calculated
 Vertical analysis is useful for answering the queries relating to company’s assets,
liabilities and equity. Vertical analysis is also referred to as common-size analysis
 Discuss the advantages of comparison over two or more years to see financial
performance.
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Slide
35.  Financial ratio refers to ratios used in analysis of financial numbers. It is a way of
assessing a company’s performance
 Discuss further as needed.
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36.  Take time to explain the formula and ensure all trainees understand how to use it
effectively
 Ratio analysis is the technique of manipulating information contained in financial
reports to produce measures of performance
 All the above are common examples of industry ratios used to describe the financial
situation, and performance of, the business.
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37.  Understanding and interpreting financial ratios is a key business skill for users of
the financial statements. Financial ratios illustrate the company’s strengths and
weaknesses
 There are many financial ratios available. Some are generic to all companies and
some are industry-specific. Too many ratios used may cause confusion
 It is even more unproductive when numerous ratios are just calculated without
interpretation and analysis.
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38. Provide sample scenarios with figures and ask students to calculate ratios.
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Slide
39.  Provide sample scenarios and have students calculate working capital
 This exercise may be done using the personal example of mature age
students, provided they are comfortable to do so.
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40.  This ratio tells us how efficiently we use our assets to provide us with income
 When interpreting this ratio we try to see a trend emerging
 We want our ratio to be steadily increasing. This would mean that we are getting
better at what we do.
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Slide
41. This calculation shows how long it takes to “turnover” or sell the inventory of the
organisation. The longer it takes, the less efficient the organisation.
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42. Discuss and provide examples to the group.
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Slide
43. Most retail organisations operate a 30 day credit cycle with an expectation that they will
receive payment within 45 days. However in travel and tourism credit is usually
desirable at 7-14 days.
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44.  These ratios tell us about our profit margins and how profitable our business is.
Changes in ratios for a business over several years can indicate favourable or
unfavourable trends
 Gross profit ratio demonstrates the direct relationship between Sales and the Cost
of Goods Sold. If the mark up on stock is not high enough, then the business will
not be profitable.
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Slide
45. Explain as necessary.
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46.  ROI indicates the efficiency of management’s decisions regarding the purchase and
use of Assets
 Operating profit has tax and interest added back to enable the business to compare
its results with other organisations
 This ratio shows us how much our assets are earning. The higher this ratio is, the
more desirable the business is as an investment for the owners.
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Slide
47. Explain further as needed and review formula on next slide.
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48. The Proprietorship ratio shows the percentage of assets that have been funded by the
owners of the business.
It is important not to look at the ratios in isolation. To get a true picture of how a
company is performing you need to examine the:
 Combined effects of the ratios
 Trends found by comparing several years ratios and percentages (a minimum of
three consecutive years is desirable)
 Comparisons across an industry
 Complete exercise 3.
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Slide
49.  Discuss the role of supervisors and managers in monitoring financial controls
 Discuss these points as necessary
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50.  Discuss knowledge and experience in the room regarding audits and internal audits
 Remind trainees that large organisations may choose to employ an external
company to do this.
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Slide
51.  Continued from previous slide

 Discuss in particular notes for Assess outcomes. It is not unusual for staff to decide
they have a better way of doing things and alter procedures without informing
management
 Discuss the possibilities of staff undermining the system and looking for or
discovering ways to steal from the business
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52.  Consider who would be involved in a small, medium and large organisation. Have
trainees draft a list for each
 Ask trainees to close their Trainee manual now (in preparation for next task on the
next slide)
 Trainer to read notes on the next slide and instruct trainees.
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Slide
53.  In groups have trainees list the three causes for discrepancies and identify as many
reasons as they can think of
 Give a time allowance
 No looking at manuals
 Work from knowledge only at this point
 Have each group share answers and allow groups to extend lists as you go
 Once all groups have shared answers refer back to TM for any other reasons listed
that were missed
 Discuss possible actions to resolve these discrepancies.
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54.  Refer to TM and discuss each point as necessary

 Many of these points are simple errors that shouldn’t occur but do, generally
because employees are rushing, not concentrating, have not been properly trained
or are simply cutting corners
 Discuss ‘Adjusting entries’ and ensure trainees understand point numbers 1-4 and
its associated explanation over the page
 Trainer to provide verbal examples
 Have a sample completed worksheet to show Trainees
 Complete Activity 29
 Ensure all work projects have been completed and handed into trainer ensuring
cover page details are attached for assessment tracking
 Review the summary page for Element 1 to confirm what has been completed for
this element.
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Slide
55.  Trainer advises trainees this Element is comprised of two Performance Criteria
which will be identified throughout the class and explained in detail
 Trainees can obtain more detail from their Trainee Manual.
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56.  Discuss notes as needed

 Highlight the importance of confidentiality with reports.
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Slide
57.  Refer to TM notes and discuss as necessary

 Also discuss the accounting period. Why would businesses of different sizes have
different accounting periods?
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58.  Discuss points as necessary

 Have trainees highlight key points and identify any requirements that are specific to
your country business laws
 Ask trainees to close their Trainee manual now (in preparation for next task on the
next slide)
 Trainer to read notes on the next slide and instruct trainees.
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Slide
59.  Trainee manuals should already be closed

 In groups brainstorm a list of users who would use financial information regarding a
business. company or organisation
 Think broadly and list anyone and everyone who would consider the financial
position before doing business
 Give a time allowance
 After a short period ask each group to share their first 1-2 suggestion to help push
everyone along
 At the end of the time allowance brainstorm answers onto board and discuss each
as needed
 Once discussion and sharing is completed TM can be used for further information
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60.  Review the notes in TM and have trainees highlight key points
 Review the Statement of financial position Profit & Loss table and explain as
needed
 Trainees will be required to complete an exercise.
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Slide
61.  Review the notes in TM and have trainees highlight key points
 Review the Statement of financial performance Balance sheet table and explain as
needed
 Complete Exercise 4 and 5 as directed by trainer.
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62.  Discuss points as necessary. Ask trainees about any knowledge or experience in
this area
 Review the Cash flow table
 Complete Exercises 3 and 4 as directed by trainer.
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Slide
63.  Consider the budgets listed in the TM

 Brainstorm other budgets:
 Expenditure budget
 Departmental budget
 Fixed budget
 Flexible budget
 Operating budgets
 Sales budget
 Project budget
 Purchases budget
 Master budgets.
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64.  Discuss each of the types of reports

 With access to the internet these reports can be searched on Google images to
demonstrate the varying ways they can be presented
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Slide
65.  Discuss as necessary and have trainees highlight key points

 Ensure all work projects have been completed and handed into trainer ensuring
cover page details are attached for assessment tracking
 Review the summary page for Element 2 to confirm what has been completed for
this element.
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66. Trainer advises learners on what assessment is required and how it is to be conducted.
© ASEAN 2015
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© ASEAN 2015
86 Trainer Guide
Activities
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 1 - Identify persons responsible for managing

financial records
For a tourism organisation you are required to identify the different roles that undertaken
financial transaction and management of finances.
For each role identify the types of financial activity or responsibility they undertake.
Role Financial activity or responsibility
© ASEAN 2015
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 2 - Identify categories of business transactions

For a tourism organisation you are required to provide examples of different types of
items under each category.
Examples
Category
(Minimum of three for each category)
ASSET
LIABILITY
OWNERS EQUITY
REVENUE
EXPENSES
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 3 - Identify tourism ledger accounts
For a tourism organisation of your choice you are required to identify the ledger accounts
that they use as part of their accounting system.
Current Assets
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Fixed Assets
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Current Liabilities
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Long-term Liabilities
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Operating Revenues
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Cost of Goods Sold
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Other operating expenses
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 4 - Identify source documents
You are required to identify common source documents used in tourism organisation
showing evidence that transactions have taken place.
Source Document What type of transaction does it record?
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 5 - Identify ledger transactions
You are required to show the correct ledger account entries that would occur for the
following transactions for the amount of 'X'.
Please identify the source documents that would show evidence of these transactions.
Cash receipts
Reference / Source
Date Ledger account Debit Credit
document
Cash payments
Reference / Source
document
Petty cash
Reference / Source
document
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Activities
Sales
Reference / Source
document
Refunds
Reference / Source
document
Rebates
Reference / Source
document
Interest expenses or interest received
Reference / Source
document
© ASEAN 2015
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Activities
Purchasing of a fixed asset on credit
Reference / Source
document
Selling of a fixed asset on credit
Reference / Source
document
Correcting posting errors
Reference / Source
document
Writing-off a bad debt
Reference / Source
document
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Activities
Withdrawing of stock or assets by owner
Reference / Source
document
Making non-cash transactions, e.g. writing off depreciation, stock losses
Reference / Source
document
Working in foreign currency amounts
Reference / Source
document
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 6 - Research common tourism transactions
You are required to collect evidence of financial records

for a tourism organisation of your choice.
The records must show evidence of common transactions
showing ledger accounts these transactions are allocated
to.
You must also provide evidence of source documents
commonly used in tourism establishments, as identified in
Activity 3.
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 7 - Identify areas of focus
Based on the evidence collected in Activity 6, you are required to explain what areas you
would focus on when checking transactions.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 8 - Identify 'balancing / reconciliation' activities
You are required to conduct research on the financial practices of a tourism organisation.
Please answer the following questions, providing evidence where possible to support your
findings.
Identify the types of systems used to perform reconciliations.

_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Identify common areas of operation where reconciliations are required

_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Describe in detail the process used to reconcile transactions to a balance
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Describe the policies and procedures that are used for investigating and clearing
outstanding entries
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Describe the timelines that apply to finalising reconciliations

_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 9 - Identify others who record transactions or

undertake 'balancing' activities
You are required to identify the different persons inside a tourism organisation who either
record or balance transactions.
Please answer the following questions, providing evidence where possible to support your
findings.
EXAMPLES OF
ACTIVITIES THEY
POSITION / TRANSACTIONS
DEPARTMENT PERFORM (RECORD /
PERSON RECORDED /
BALANCE)
BALANCED
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 10 - Identify persons responsible for checking

balances prepared by others
You are required to identify the different persons responsible for checking the balances
prepared by others.
POSITION / PERSON RESPONSIBLE

AREAS / DEPARTMENTS/ DOCUMENTS
FOR CHECKING BALANCES OF
THEY CHECK
OTHERS
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 11 - Identify procedures performed when

checking balances prepared by others
You are required to identify the different procedures that would be performed when
checking the balances performed by others.
This includes:
Checking accuracy of debtor account balances
(E.g. Cash receipts journal, sales return journal, general journal)
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Checking accuracy of creditor account balances

(E.g. Cash payments journal, purchases journal, purchases returns journal, general
journal)
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Checking the total of the debtor's schedule equals the balance of the debtor's
control account
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Checking the total of the creditor's schedule equals the balance of the creditor's
control account
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 12 - Identify types of outstanding accounts

You are required to identify the different types of common outstanding accounts that may
lead to an 'unbalance' of accounts.
TYPE OF OUTSTANDING REASON FOR ACTION TO BE TAKEN TO

ACCOUNT OUTSTANDING ACCOUNT 'BALANCE' ACCOUNT
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 13 - Identify business units

You are required to identify the different business units / areas of responsibility in a typical
travel and tourism organisation.
You are also required to identify the financial responsibilities of that business units / areas
of responsibility.
BUSINESS UNIT/ AREA OF FINANCIAL RESPONSIBILITIES

RESPONSIBILITY
E.g. - Travel consultants E.g. - Sell tours
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 14 - Identify organisational chart
You are required to collect or prepare an organisational chart for a tourism organisation of
your choice.
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 15 - Identify importance of 'separation'
You are required to explain the importance for having 'separation' mechanisms in a
financial system.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 16 - Identify procedures used in a financial

system
You are required to identify three procedures that exist or you would implement as part of
a financial system for a tourism organisation.
TYPE OF PROCEDURE EXPLANATION
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 17 - Identify standards used in a financial system

You are required to identify categories and examples of standards within these categories
that exist or you would implement as part of a financial system for a tourism organisation.
Some examples have been added to guide your responses.
CATEGORY OF STANDARD EXAMPLES OF STANDARDS
Revenue Tour sales

Merchandise sales
Expenses
Productivity
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 18 - Identify devised used in a financial system
You are required to identify three different devices, either mechanical or electrical that can
be used as part of a financial system
DEVICE PURPOSE OF DEVICE
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 19 - Identify importance of internal audits
You are required to identify the purpose and importance of having internal audit
mechanisms as part of a financial system.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 20 - Control receipts
You are required to identify common ways a tourism organisation receives money and
ways to ensure that each of these methods can be controlled and safeguarded.
COMMON METHODS TO RECEIVE METHODS TO CONTROL AND

MONEY SAFEGUARD MONEY RECEIVED
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 21 - Control payments

You are required to identify common ways a tourism organisation pays money and ways
to ensure that each of these methods can be controlled and safeguarded.
COMMON METHODS TO PAY MONEY METHODS TO CONTROL AND

SAFEGUARD MONEY PAID
© ASEAN 2015
Trainer Guide 113
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 22 - Control petty cash
You are required to identify the different reasons why petty cash may be used by a travel
organisation and methods to control petty cash usage.
REASONS WHY PETTY CASH IS USED IN A TOURISM ORGANISATION
1. _________________________________________________________
2. _________________________________________________________
3. _________________________________________________________
4. _________________________________________________________
5. _________________________________________________________
METHODS TO CONTROL PETTY CASH USAGE
1. _________________________________________________________
2. _________________________________________________________
3. _________________________________________________________
© ASEAN 2015
114 Trainer Guide
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 23 - Identify credit policies
You are required to identify the different types of customers or clients you may extend a
line of credit to. Explain why you would grant them lines of credit.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
You will also need to identify policies you would have in place to ensure outstanding
payments are monitored and repaid.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
© ASEAN 2015
Trainer Guide 115
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 24 - Control payroll
You are required to identify different ways you can control payroll costs and the actual
payment of wages themselves.
Explain measures you can put into place to control payroll costs.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Explain measures you can put into place to control the actual payment of wages to staff.
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
© ASEAN 2015
116 Trainer Guide
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 25 - Control inventory
You are required to identify the main types of inventory commonly found in a tourism
organisation and methods you would implement to control them.
TYPES OF INVENTORY CONTROL METHOD
© ASEAN 2015
Trainer Guide 117
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 26 - Control fixed assets
You are required to identify the main types of fixed assets commonly found in a tourism
organisation and methods you would implement to control them.
TYPES OF FIXED ASSETS CONTROL METHOD
© ASEAN 2015
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 27 - Identify stakeholders
You are required to identify the stakeholders you would involve in monitoring the financial
system for a tourism organisation.
These stakeholders may be internal or external to the company.
You are required to identify what expertise or information you seek from each stakeholder
as part of the monitoring process.
INTERNAL / EXTERNAL STAKEHOLDER EXPERTISE / INFORMATION SOUGHT
© ASEAN 2015
Trainer Guide 119
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 28 - Identify internal audit requirements
You are required to identify the different aspects of a financial system that you would wish
to audit as for a tourism organisation.
ASPECT TO BE AUDITED KEY OBJECTIVE OF WHO IS TO AUDIT THIS

AUDITING ASPECT ASPECT?
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 29 - Identify common discrepancies

You are required to identify:
 Three common discrepancies that commonly appear in financial systems for a tourism
organisation
 Methods to identify discrepancy
 Cause of the discrepancy
 Action taken to resolve discrepancy.
METHOD TO ACTION TO
COMMON CAUSE OF THE
IDENTIFY RESOLVE
DISCREPANCY DISCREPANCY
DISCREPANCY DISCREPANCY
© ASEAN 2015
Trainer Guide 121
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 30 - Identify frequency of financial statement and

reports
You are required to identify an example of financial statements or reports to be completed

for each of these timelines.
FREQUENCY REPORT / STATEMENT PURPOSE / CONTENTS OF REPORT /

STATEMENT
Daily
Weekly
Monthly
Quarterly
Half-yearly
Annually
© ASEAN 2015
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Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 31 - Identify financial information prepared by

personnel
You are required to identify the different types of financial information, statements or
reports prepared by the following personnel in the travel and tourism industry.
PERSONNEL INFORMATION / REPORT / STATEMENT
Accounting staff
Staff members
Managers &
supervisors
Head office
Providers, suppliers
and carriers
© ASEAN 2015
Trainer Guide 123
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 32 - Understanding financial reports
From a tourism establishment of your choice, you are required to obtain one recent
example of a financial accounting report and one recent example of a management
accounting report and list the following for each report:
 The name of the report

 The reporting period
 The purpose for which the report was produced
 At least two accounting assumptions that are relevant to this report
 Comment on the format of the report – why is the format chosen? Does it follow any
of the formats discussed?
© ASEAN 2015
124 Trainer Guide
Activities
Name_______________________________________________________
Date_________________________________________________________
Activity 33 - Understanding financial reports
Create a distribution list for reports that are produced as part of the production of goods
and services part of the business cycle.
Include all managers and personnel of a tourism organisation you think require the report
and the procedures you would follow to ensure confidentiality if relevant.
REPORT DISTRIBUTION LIST
MANAGER / STAKEHOLDER REPORT REQUIRED
© ASEAN 2015
Trainer Guide 125
Activities
© ASEAN 2015
126 Trainer Guide
Recommended training equipment

Access to computers
Access to internet for research
Access to excel spread sheet is desirable for completion of some activities
Stationary items
Sample audit documents
© ASEAN 2015
Trainer Guide 127
© ASEAN 2015
128 Trainer Guide
Instructions for Trainers for using PowerPoint – Presenter View
Instructions for Trainers for using

PowerPoint – Presenter View
Connect your laptop or computer to your projector equipment as per manufacturers’
instructions.
In PowerPoint, on the Slide Show menu, click Set up Show.
Under Multiple monitors, select the Show Presenter View check box.
In the Display slide show on list, click the monitor you want the slide show presentation
to appear on.
Source: http://office.microsoft.com
Note:
In Presenter View:
You see your notes and have full control of the presentation
Your trainees only see the slide projected on to the screen
More Information
You can obtain more information on how to use PowerPoint from the Microsoft Online
Help Centre, available at:
http://office.microsoft.com/training/training.aspx?AssetID=RC011298761033
Note Regarding Currency of URLs
Please note that where references have been made to URLs in these training resources
trainers will need to verify that the resource or document referred to is still current on the
internet. Trainers should endeavour, where possible, to source similar alternative
examples of material where it is found that either the website or the document in question
is no longer available online.
© ASEAN 2015
Trainer Guide 129
Instructions for Trainers for using PowerPoint – Presenter View
© ASEAN 2015
130 Trainer Guide
Appendix – ASEAN acronyms

AADCP ASEAN – Australia Development Cooperation Program
ACCSTP ASEAN Common Competency Standards for Tourism Professionals
AEC ASEAN Economic Community
AMS ASEAN Member States
ASEAN Association of Southeast Asian Nations
ASEC ASEAN Secretariat
ATM ASEAN Tourism Ministers
ATPMC ASEAN Tourism Professionals Monitoring Committee
ATPRS ASEAN Tourism Professional Registration System
ATFTMD ASEAN Task Force on Tourism Manpower Development
CATC Common ASEAN Tourism Curriculum
MRA Mutual Recognition Arrangement
MTCO Mekong Tourism Coordinating office
NTO National Tourism Organisation
NTPB National Tourism Professional Board
RQFSRS Regional Qualifications Framework and Skills Recognition System
TPCB Tourism Professional Certification Board
© ASEAN 2015
Trainer Guide 131
© ASEAN 2015
132 Trainer Guide

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Audit financial procedures

Competency Based Training (CBT) and

An element of competency describes the essential outcomes within a unit of competency.

Performance criteria indicate the standard of performance that is required to demonstrate

This manual will identify two avenues to facilitate learning:

Competency Based Assessment (CBA)

This is the strategy of assessing competency of a participant.

It is important to note that flexibility in training and assessment strategies is required to

 Enhances motivation – Learning is most effective when participants are motivated.

Competency Based Training (CBT)

Principle of Competency Based Training

 Be able to become confident, equipped and flexible managers of the future

Competency Based Assessment (CBA)

Principle of Competency Based Assessment

Competency must be proven regardless of:

A range of assessment methods to assess competency include:

Element 2. Complete financial reports  Correcting posting errors

Financial/statistical reports may relate to:

Linkages To Other Units

Key Competencies Level Examples

Notes and PowerPoint slides

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1.  Trainer welcomes students to class

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4.  Trainer advises trainees this Element is comprised of six Performance Criteria

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6. Discuss and clarify as necessary.

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7.  Ask trainees to close their manuals

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11.  See notes on previous slide

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12.  Discuss as necessary

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13.  Discuss as necessary

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17.  Explain Trial Balance image

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18.  Discuss each point as necessary

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19.  In accounting circles there is a saying ‘who is checking the checker?’

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21. Highlight key points and complete Activities 10 and 11.

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24.  Highlight the types of documents required to source information

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