Professional Documents
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SITXFIN005 Assessment 2 Project
SITXFIN005 Assessment 2 Project
Reasonable Adjustment
1. Has reasonable adjustment been applied to this assessment?
No No further information required
Yes Complete 2.
2. Provide details for the requirements and provisions for adjustment of assessment:
Student to complete
My assessor has discussed the adjustments with me
I agree to the adjustments applied to this assessment
Signature Date 29/06/2022
Signature Date
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Assessment Guidelines
What will be assessed
The purpose of this assessment is to assess your ability to complete tasks outlined in elements and
performance criteria of this unit in the context of the job role, and:
• develop a plan for the acquisition, maintenance and replacement of at least three different types of
physical assets listed in the knowledge evidence
• demonstrate procedures to:
o monitor the utility of above assets to meet business needs
o provide regular financial reports on the assets
o record formal and informal customer and staff feedback
o integrate day-to-day condition reports
o schedule internal or external inspections or audits
o schedule management reports
o develop and maintain a current register for the above assets.
Place/Location where assessment will be conducted/Timeframes
RTO to complete
Resource Requirements
Refer to the Assessment conditions attached to the Futura Group Mapping Document located in the teacher
support tools folder or the “Assessment Conditions” for this unit in the SIT 1.0 Training Package.
Computer, Internet Access, financial data, organisational procedures relevant to the organisation for which
physical assets are managed and to be acquired.
For Part A
you are required to develop a resource acquisition plan for the acquisition of 3 different resources from the
following main categories:
• buildings
• computer systems
• equipment fixtures, fittings and furniture in one of the following:
o accommodation establishments
o commercial kitchens
o restaurants and bars
o storage areas
o tourism, hospitality and event offices
o transportation depots
• gardens
• pools
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• rides and games
• vehicles
• vessels
For Part B
you are required to develop an asset register which needs to list the details for the 3 new physical assets you
have determined in Part A. You must include the maintenance requirements and schedule of maintenance for
each asset.
For Part C
you are required to develop a resource management strategy which provides details on how the efficiency of
each asset is monitored
Statement of Authenticity
I acknowledge that I understand the requirements to complete the assessment tasks
The assessment process including the provisions for re-submitting and academic appeals were explained
to me and I understand these processes
I understand the consequences of plagiarism and confirm that this is my own work and I have
acknowledged or referenced all sources of information I have used for the purpose of this assessment
This assessment:
First Attempt 2nd Attempt 3nd Attempt Extension – Date: / /
Assessor(s)
Date: / /
Signature(s):
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Assessment 2
Part A
Requires you to develop a resource acquisition plan for the acquisition of 3 different resources from the
following main categories:
• buildings
• computer systems
• equipment fixtures, fittings and furniture in one of the following:
o accommodation establishments
o commercial kitchens
o restaurants and bars
o storage areas
o tourism, hospitality and event offices
o transportation depots
• gardens
• pools
• rides and games
• vehicles
• vessels
Part B
Requires you to develop an asset register which needs to list the details for the 3 new physical assets you have
determined in Part A. You must include the maintenance requirements and schedule of maintenance for each
asset.
Part C
Requires you to develop a resource management strategy which provides details on how the efficiency of each
asset is monitored
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PART A – Acquisition Plan
Task:
You are required to choose 3 different physical assets, relevant for an organisation in the Tourism, hospitality or
event industries, which may include any of the following:
• buildings
• computer systems
• equipment fixtures, fittings and furniture in one of the following:
o accommodation establishments
o commercial kitchens
o restaurants and bars
o storage areas
o tourism, hospitality and event offices
o transportation depots
• gardens
• pools
• rides and games
• vehicles
• vessels
1. Provide an overview of the business activities of the organisation relevant to the physical assets selected.
I worked in the Australian Heritage hotel's kitchen department, which provides high-quality food for
lunch, dinner, as well as snacks. Pizza, one of our most popular items, was cooked at a specific
temperature, as were other baked goods. Microwaves, combi ovens, and food processors are the most
used equipment in this case to provide good and quality food. Microwaves are used to reheat foods, while
conviction ovens are used for mass baking to produce a large number of products, and food processors are
used for a variety of food preparation functions such as kneading, chopping, blending, and pulverizing.
2. List the purpose of the acquisition or replacement of the physical assets, providing detailed information
what informs the decision to acquire these new assets.
PHYSICAL ASSET PURPOSE OF THE REPLACEMENT
Microwave This item did not work very well, as it did not heat up when used and the
light did not turn on.
Combi oven The parts of the oven hardly find here in Australia; the size of the oven is not
fit in the kitchen.
Food Processor The lid and lock are broken, and it is too small for mass production,
especially during prep time. The company requires a large one because there
are numerous orders every time.
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3. Write an overview of specifications for each asset which clearly outline what requirements each asset needs
to fulfil in terms of capacity, performance, size, location requirements and maximum budget for each or for
the overall budget parameter.
Microwave- Built in cook setting, Convection Technology Option, with 25ltr to 30 Ltr capacity with the budget
$1,000.
Combi Oven- needs to look for the band that parts is also available here in Australia, has a multifunctional
automatic and manual functions. Have a maximum capacity of 10 trays and 50L and for budget I am looking
for $10,000.
Food processor – With much easier functionality manual, with other different cutting blade attachment and
setting, heavy duty, have auto shutdown function. I’m looking with the budget around $1,500.
4. Obtain 3 prices or quotes from different suppliers or sources for each asset. Attach the correspondence and
final quote received for each asset to this project.
Asset Microwave Quotation #1 Microwave Quotation #2 Microwave
Quotation #3
Model CM-1051T RCS511DS
MWA1400
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Motorised Stirrer Fan 1 magnetron
• Stainless steel external High quality
construction durable
• Single phase, 10 amp construction
• Magnetron technology with Stainless steel
direct ducted cooling interior with
• Toughened inner door glass sealed-in ceramic
(not plastic) base
• Sturdy commercial hinges, Stainless steel
handle and latches exterior
• Double strengthened door Easy cleaning and
hinges a commercial look
See-through door
& lighted interior
for monitoring
without opening
the door Internal
Dimensions 368[w]
x 381[d] x 216[h]
mm
External
Dimensions 559[w]
x 483[d] x
352[h]mm; 19 Kg
Power: 240 Volts;
10 amps single
phase
Warranty: 12
months on Parts &
Labour
Specifica Compact yet powerful, the Bonn The RCS511DSE is
tions CM-1051T commercial microwave a commercial
oven features robust and sturdy microwave for
stainless steel construction, light duty food
alongside user-friendly service. It has a
programmable controls and an user-friendly ten-
impressive 1kW power output. Ideal minute dial with 4
for commercial performance in power levels.
mobile catering, food stands, snack Light Duty
bars and other light duty Microwaves are
applications. Cook, re-heat and ideal for light
defrost with confidence. volume sites
recommended for
up to 100 uses per
day. These
dependable ovens
are easy to use &
are the perfect
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replacement for
domestic ovens in
any foodservice
operation.
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• 10 x 600mm x o Watts/Power 10.8 kW high-performance
400mm tray o Weight 99kg circular resistance
capacity • Model ICC61 Integrated
• 70mm tray DET&Rinse™
spacing detergent container
• Compact 812mm Integrated Wi-Fi Wi-Fi
width / USB data:
• 14kW heating download/upload
power HACCP data Wi-Fi /
• Hand shower with USB data:
fittings and download/upload
connections programs
included
• Electro-
mechanical
controls to set
time, temperature
and operation
mode
• Temperature
range 50°C to
260°C
• Manual timer
range up to 120
minutes
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manual descaling of the steam generator the same time
Programming - MISE.EN.PLACE:
Individual programming with up to 100 synchronises the
programs with multi step cooking processe insertion of pans so
s of up to 12 steps LED Lighting - that all the dishes are
See your products true degree of brownin ready at the same
g. time MIND.Maps™:
Energy efficient, durable and low mainten draw the cooking
ance. ServicePlus - processes directly on
Service and support you can trust for the li the display
fe of READY.COOK: ready
your unit. Free introductory and ongoing tr to use settings for a
aining, dedicated quick start
ChefLine hotline 365 days a year, Service s
upport 24/7, free software updates.
Power Power: 14.5kW | 10 x Tray Voltage 415V Watts/Power 10,8kW 11.7Kw 17amp
| Manual Watts/Power 10.8 kW 3phase Required.
Brand TURBOFAN RATIONAL UNOX
Supplier NISBETS REWARD HOSPITALITY QCC
Referenc https://www.nisbets.com. https://www.rewardhospitality.com.au/eq https://www.qcc.com
e au/turbofan-full-size-10- uipment-and-furniture/commercial- .au/OVEN-COMBI-7-
tray-manual-electric- kitchen-equipment/combi-ovens/combi- TRAY-GN-1-1-
combi-oven- oven 11.7KW-3PH-WIFI-
ec40m11/cr259 CHEFTOP-
MINDMAPS-PLUS-
UNOX.html
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Number R211/2 composite
• Voltage 220-240V material with
• Warranty 2 Years side ejection
• Weight 9.5kg equipped with 2
• Straight stainless hoppers, 1 large
steel blade and 1 cylindrical
included hopper.
• Ideal for small • Supplied with 4
scale catering stainless steel
establishments discs, 2 and 4
• Supplied with an mm slicers, 2 mm
XL hopper that can graters and 4x4
accommodate up mm julienne.
to 6 tomatoes for • Large range of 23
improved stainless steel
productivity discs available as
• Smooth blade option.
supplied as • Cutter
standard attachments:
• Supplied with four • Lid, bowl,
prep blades as and high
standard: 1x 2mm resistanc
& 1x 4mm slicer, e
2mm grater and 1x stainless
4x4 julienne steel
• Vegetable smooth
preparation fitting blade
included assembly
• See-through lid with
• Slice, grate, blend, removabl
mix, grind, chop e cap.
and knead • Vegetable
• 2.9 litre attachments:
polycarbonate • Bowl,
bowl ejecting
disc, lid.
• 4 stainless steel
discs
• Power: 550
Watts
• Voltage
(V/Hz/Phase):
220-240V/50/1
• Amps: 5.7
• Speed (Rpm):
1500
• Bowl Capacity
(Lt): 2.9
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• No. of Meals
(Min-Max): 10-30
• Dimensions: 720h
x 360w x 220d
mm
• Weight: 12kg
Specificati Fast and efficient food CC-32S 2 Speed Combi Cutter Machine Cutter/Vegetable Slicer
ons processor and vegetable ABS machine housing, 10 amp equipped with a cutter
prep machine. Slice, grate, Capacity: up to 2kg/minute attachment for chopping,
blend, mix, grind, chop and fine mincing, emulsions,
knead. Patented stainless grinding and kneading,
steel blade for perfect and a Vegetable
results on small or large preparation attachment
quantities. Magnetic safety for slicing, grating, ripple
system stops the motor as cut slicing, and julienne.
soon as the lid is opened.
Supplied with four prep
blades as standard.
Power 0.55kW, 220-240V, 2.4 10AMP, 1000W Power: 550 Watts
Amp single phase. Voltage (V/Hz/Phase):
220-240V/50/1
Amps: 5.7
Brand Robo coupe commercial BONN ROBO COUPE
food processor
Supplier NISBITS REWARD HOSPITALITY QCC
Reference https://www.nisbets.com.a https://www.qcc.com.au
u/robot-coupe-food- https://www.rewardhospitality.com.au/ /FOOD-PROCESSOR-2.9L-
processor-and-veg-prep- equipment-and-furniture/benchtop- POLY-BOWL-550W-
r211xl/j461 equipment/food-processors/food- ROBOT-COUPE.html
processor-combination-cutter-
285x350x585mm?SearchID=8606367&S
earchPos=10
5. Contact a financial institution and at least 2 different suppliers and obtain information on 3 different
financing options available and costs (attach copies of your correspondence).
Name of Institution OPTION 1 OPTION 2 OPTION 3
Silver Chef’s Rent-Try-Buy Rent-Try-Buy Fast approvals
solution Lease-to-Keep
Customers can get
approved for up to If you’re looking to
During your 12-month $65,000 in as little as 5
term finance equipment of
minutes, in our $10,000 and over, Lease-
dealership or online to-Keep provides a
• Upgrade to a today. Simply provide
bigger, better straightforward way to
your photo ID, ABN and spread the cost and
model at any proof of business address manage cashflow.
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time with you. SilverChef will Monthly lease payments
• Purchase the also approve higher are spread over four
equipment and amounts subject to years and at the end of
receive a rebate satisfactory additional the term, the equipment
on rental checks. is all yours.
payments made
to date.
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Rental (Operating Lease) Business Loans Insurance Premium
Endeva Finance –
Hospitality Equipment Rental allows you to treat Even profitable small Funding
Finance the cost of acquiring a businesses can Insurance can be
piece of equipment as an experience seasonal complicated and
ongoing expense, rather fluctuations and expensive and can put
than paying the entire shortfalls in cash and serious pressure on your
cost upfront. Many assets resources. That’s where a cashflow when you need
need to be replaced short term business loan it most. With insurance
within a period of 5 years can come in handy. A premium finance, we
so it makes sense to rent short term loan offers a provide funding so you
these and treat the entire quick boost of financial can free up money in your
rental payment as an support. And now, with business, so you can
expense to receive a the growing popularity of spend it on what’s
100% tax deduction. alternative lenders, there important. Our interest
Renting rather than are more options than rates are fixed and
purchasing means you ever to get the capital competitive, so you know
can completely write-off you need to keep exactly how much you’ll
the equipment and growing. Running your have to pay, spreading
receive a high level tax- own hospitality business lumpsum payments over
benefit. can be challenging, not to time so you can reduce
mention expensive. From the likelihood of
General Features and purchasing additional underinsurance.
Benefits equipment and paying
staff wages, to ensuring
• Payments are General Features and
you’re effectively
100% tax- Benefits
marketing your company
deductible
to attract new customers; • Our product
• It does not
success certainly comes allows you to roll
appear on your
at a cost. multiple
balance sheet as
Endeva has a range of premiums
debt or loan
solutions to facilitate a together into a
• Classed as an
business loan single loan, so
Operating
you are only
Expense that you
required to make
run through your
one monthly
Profit and Loss
payment. What
Statement
are you waiting
• GST is claimed in
for? Apply today!
each payment
• Enjoy flexibility
with no fixed
term contracts
• No property
security required
• Easy monthly
instalments
• Zero ongoing fees
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• No directors
guarantees
• Not recorded as
borrowings
REFERENCES:
https://www.hospitalitysuperstore.com.au/finance-solutions
https://www.nisbets.com.au/finance?cm_sp=NHP%20Footer-_-Shopping%20At%20Nisbets-_-
Finance%20SilverCheffor
6. Calculate the finance variants offered to you and determine the best options for each asset. Your options
need to include potential factors for depreciation, consideration for technology changes and financial
impacts on the organisation and financial aspects for which you will seek specialist advice. (Your
depreciation calculations must consider the current regulations published on the ATO website).
7. Based on your calculations in Q.6, explain the official process that now needs to be followed to finalise the
acquisition of each asset. This may include processes in your existing workplace or common industry
standards and needs to provide:
• details for detailed specifications,
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• legal contracts,
• requirements and documentation applicable to different acquisition and financing methods,
• preparation of documentation for disposal of assets that are being replaced including tax
obligations.
The manager should provide complete documents, including quotations for the three appliances, which must
be validated by the financing office and approved by the board of directors before the microwave, conviction
oven, and food processor can be purchased or rented to buy later through Silver Chef's Rent-Try-Buy solution.
The aforementioned appliances will be rented for a 12-month period, and at the end of the fiscal year, the
board of directors must choose between the three options provided by Silver Chef's Rent-Try-Buy solution.
To ensure a smooth transaction, the manager must secure all documents, including manuals, warranties, and
receipts, and the appliances must be placed under the asset registry and asset maintenance registry.
Also, the company will have to find a buyer for the old appliances, or the company should have a clear
agreement with the supplier about the removal and dismissal of the old appliances, whether they will be sold
to the supplier or the company will find a buyer for the said appliances.
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Part B – Asset Register
Task:
1. Develop an asset register which lists the 3 assets determined in Part A. Your asset register needs to include
the following details:
• Asset Details
• Asset description/model/type
• Serial Numbers
• Purchase date
• Cost
• Depreciation amount (from when you undertake this assessment to the end of the financial
year). If you have no current value, then base this calculation on the approximate price you have
determined using the ATO guidelines.
• Closing Written Down Values (at the End of financial year where you undertake this assessment)
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o Product Type
Combi Ovens
o Material Stainless
Steel
o Tray Size 1/1 GN
o Tray Capacity 6 x
1/1 GN
o Voltage 415V
o Watts/Power
10,8kW
o Watts/Power
10.8 kW
o Weight 99kg
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bowl
2. Develop a maintenance register and identify the maintenance requirements for each asset accordingly. For
some assets that might be determined through lease clauses or service contract agreements. If so, include
these including the details. For the remaining assets consult the user manuals or manufacturer’s
recommendations with consideration to frequency of use relevant to your organisation. For example if a
post-mix machine or coffee machine is connected to water filter then this needs to be reflected in the
maintenance requirements.
Maintenance Register
Description Microwave
Location Australian heritage Hotel-Kitchen Department
Purchase price $930.00
Purchase date January 1,2022
Model number MWA1400
Scheduled maintenance Wiped with the damp cloth at the end of every shift, spraying with the
sanitiser and air dry.
Replacing Charcoal filter every 6 months
Maintenance completed JULY 30, 2022
Signed date
C
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pushers.
Maintenance completed Everyday
Signed date
Task:
1. Develop a maintenance regime for each asset based on the maintenance requirements you have
determined in Part B.
Maintenance schedule
Daily Every other day/Weekly Monthly/quarterly/annually
Microwave Clean with the dumb Regular check the heat Replacing the charcoal filter
clothes, spray with and the accurateness of every 6 months
sanitizers and air dry the timer
Combi oven Before and after shift interior cleaning, wipe Monthly thermometer
cleaning, wiping with and sanitise top and calibration. Every 6 months
dump cloth with soapy bottom exterior. service by the
water dry and sanitise
and air dry
Food processor Washing the blades, Sharpening its blades Quarterly check up with the
bowls and covers and wirings
clean the pushers and
attachments
2. The maintenance regime needs to include the following details and outline how each aspect is affected
and as a result addressed:
1) Reporting and monitoring mechanisms to ensure assets are functioning effectively and issues are
reported by using correct and suitable procedures including provisions for specialist advice for complex
issues.
The company should have the maintenance team who are responsible for the checking of all the assets
of the company. Also, meetings should be done regularly with all the kitchen employees so that all the
concerns regarding with the issues with the appliances, during the discussion, all the staffs need to
voice out their concerns so that the management can have the ideas about the issues.
With the presence of maintenance logbook, all the issues and malfunctions of the asset should be
written and be recorded.
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The role of the manager is to know the concerns of the staffs and be delivered to the maintenance
team so that issues be resolved immediately.
2) Provisions for collecting feedback from customers and reports from staff.
With the presence of feedback form on site is one way to identify the issues regarding the company
asset like the plates, tables and chairs that the customers are using when they are on their site.
Regarding feedbacks from the staffs, the supervisor and/or the manager must have an informal or
formal discussion to so that all the issues are being handed out to the authority so that the company
can validate immediately and can resolve as soon as possible.
3) Types of maintenance required including common routine maintenance based on the organisation’s
activities for example adjusting doors, fixing furniture, cleaning air-conditioning filters in guest rooms,
etc.
Asset Name Type of Maintenance
Microwave • Daily -Clean with the dumb clothes, spray
with sanitizers and air dry
• Monthly- Replacing the charcoal filter
Combi Oven • Daily - Before and after shift cleaning,
wiping with dump cloth with soapy water
dry and sanitise and air dry
• Weekly- interior cleaning, wipe and
sanitise top and bottom exterior.
• Monthly- Monthly thermometer
calibration.
Food Processor • Daily- Washing the blades, bowls and
covers and clean the pushers and
attachments
4) Location of maintenance, e.g., can it be done off-site or away from heavily-trafficked areas?
The maintenance must be done depending if the asset is fixed and can be transport immediately,
like the combi oven, it was too heavy that is why the maintenance must be perform on site while
the food processor and the microwave can have their maintenance check on the location of the
checker.
5) Expected duration of maintenance works
The Checker are the one who can identify how long it will take for the maintenance, because most
of the time when having a maintenance check, there were problem arise.
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6) Timing of scheduled maintenance, e.g. slow periods such as during the day for a nightclub, or during the
night in high frequency areas.
In our company, most of our maintenance check was preferred to be done after the shift and/or was
done before the kitchen operates. However, there are some appliances needs to be done during the
service hours, in this case, the staff must coordinate with the person who are checking the appliances
to avoid conflicts.
7) Likely disruption to operations – what are the disruptions and what are the expected impacts?
Absolutely there were be disturbance with the operation service, especially when the maintenance
check was being done during the service hours on site, it will affect the processing of food as well as it
will consume time that will hinder them to provide services quickly.
8) WHS issues
During the maintenance check, signages must be placed to the appliances or in an area so that the
staffs are being aware that it was being under maintenance to avoid problem and to avoid accidents.
Also, PPE’S must be worn by the maintenance team during the checking of all the asset of the
company.
9) Legal and regulatory requirements which apply for the physical assets during the course of the financial
year (for example for vehicles carrying passengers, electrical equipment or as relevant to the specific
assets)
10) Summary of cost impacts for human resources (for examples where maintenance would, e.g., require
penalty rates for maintenance staff) or the costs where contractors are engaged for specific
maintenance requirements
Estimating repair contract costs is a difficult but critical task for both owners and service providers.
Service providers must know the approximate cost to avoid losing money in the part of the company.
In fact, the company must have the allocated amount for the repairs and maintenance of the asset of
the company which are consumable for the whole financial year, with this, they will have sufficient
budget when there is an emergency repair.
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The company must have an idea about the amount cost of the repair or maintenance so that they will
not have to overpay and they can still look for any budget if the allocated budget is not enough.
11) Costs of scheduled maintenance in terms of parts, required equipment to perform the maintenance and
consumables
In this case, cost will be depending on what maintenance will be perform to an asset, it can be a repair or
a maintenance check only. When it was needed a part for repairs or maintenance that was identified on
the current year, the company must allocate budget for the parts of the asset so that they can manage
their profit and loss and they can provide a solution despite of the increase of losses, they can still manage
their profit through providing services or expanding their target profit on the next year.
12) Provisions for monitoring of financial performance of the assets over the budget period.
It is important that the company has an active monitoring of the profit and loss statement, so that they will be
able to know where they need to improved to increase their profits. Also, effective and efficient strategies
must be planned so that the profit will increase even there is an emergency repair or new purchasing of
assets.
Regular reporting of the activities in the company will help to maximize the resources available in the
company. In this case, the firm will be able to maintain the profit or better to increase it even there are losses
in terms of purchasing new assets.
For example, turning off the other appliances after it was used can help to lessen the expenses for the
electricity.
13) Occurrences based on the details outlined in the questions above which would inform to review or audit
the performance or viability of the assets.
Complains, decreasing of sales and losing customers are some of the outputs of the asset’s malfunctions.
When the asset is not functioning well a lot of aspect are being affected especially the expenses, the losses
of the company will increase and it will affect the whole budgeting of the company, money will be
misused if the asset are not replaced as soon as possible because the budget can be allocated just to
repair the asset.
On the other hand, if this will continue to happen, the company have no choice but to replace it for them
to be able to save their company from losing its customers and as well to create more profit.
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