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SITXFIN005 – Manage physical assets

21 May 2023 12:34 PM | UPDATED 11 months ago

SITXFIN005 – Manage physical assets :

SITXFIN005 - Manage physical assets
SITXFIN005 – Manage physical assets

Activity 1A

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Manage physical assets assessment environment):

1.  What information does your physical assets register record? You may have to record information about the assets such as:

2. Provide the information for a physical asset of your choice that is recorded in the asset.

Activity 1 B

1.  What are your organisation’s business objectives? Business objectives may include:

2. Explain how your management practices for physical assets promote profitability or growth.

3.  Explain how your management practices for physical assets promote environmental sustainability.

Activity 1 C

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

Explain you organisation’s maintenance and repair regime for physical assets. How do you

minimise disruption during this time?

Activity 1 D

Complete the following individually or in a group (as applicable to the specific activity and the

assessment environment):

Define environmental sustainability.

Activity 1 E

Complete the following individually or in a group (as applicable to the specific activity and the

assessment environment):

1.What should you consider in order to determine your organisation’s financial ability to acquire assets?

Activity 2 A

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

What reporting practices does your organisation have relating to physical assets?

Activity 2 B

Complete the following individually or in a group (as applicable to the specific activity and the assessment environment): Give an example of a possible problem with a physical asset in your organisation, and how you would resolve it. We can take an example of a refrigerator as an physical asset for restaurant business.

Activity 2 C

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment): Choose a physical asset in your workplace and explain its cost of maintenance.

COST OF MAINTENANCE OF REFRIGERATOR REFRIGERATOR AS A COMMERCIAL KITCHEN PHYSICAL ASSET

Activity 3 A

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment): Choose a physical asset that may be required in the workplace and list the specifications (if they apply) for:

Activity 3 B

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

Choose a physical asset and research the acquisition costs for it.

Activity 3 C

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment): Choose a physical asset in your workplace which requires repair. List the pros and cons of repairing or replacing it. Which is better?

Activity 3 D

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

1. Explain the different benefits of purchasing and leasing assets.

2.Explain two different types of depreciation.

Activity 3 E

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

1. What are methods of financing acquisitions?

2. Name a financial specialist you can consult with regarding acquisitions.

Activity 3 F

Complete the following individually or in a group (as applicable to the specific activity and the SITXFIN005 – Managing physical assets assessment environment):

1. What financial records do you keep in your organisation?

2.How are they stored?

Summative Assessment

Section A: Skills Activity Objective: To provide you with an opportunity to show you have the required skills for this unit.

2.   With another learner, roleplay negotiating the price and conditions of an asset. Take turns playing the role of buyer and the seller.

3. Analyse numerical information about an asset and explain the meaning of it to another learner.

4.  Identify an issue or problem in the workplace. Research a new physical asset which may solve it and enhance the business’s performance. Give details of it.

5.  With other learners, discuss a proposed improvement for a physical asset that you identified in a previous question.

6. Plan the maintenance regime for an asset for the next year. Section

1.  What are your organisation’s business objectives and how do they affect the management of physical assets?

My organisation’s business objectives is Serving Quality and Dining Experience , Focusing on Atmosphere and Ambience, Managing Customer Relations. Fine Dining restaurant is ultimate of

2.What types of physical assets are required the tourist industry?

3.  What are the maintenance requirements for different types of physical assets in your workplace?

4. What should you consider when conducting long-term SITXFIN005 – Managing physical assets assessment of physical assets?

5. What equipment specifications apply in your organisation?

6. Give examples of formats for asset registers.

7. What different finance options are available for asset acquisition?

8. Explain how depreciation is calculated.

9. What data can be used in asset acquisition?

10. How can you maximise the environmental sustainability of physical assets?

SITXFIN005 – Manage physical assets

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