Scenario for Assessment | My Assignment Tutor

SITXFIN005 Assessment 1 – Part B – Payment typesScenario for AssessmentVIT café is located in Abbotsford by the river and is very popular. VIT Café is open 7 days a week for Breakfast and Lunchwhere on the weekend it attracts a lot of locals due to the fact that it has great food and a relaxed atmosphere.However, in the last three months, there have been complaints from staff and customers. When the manager was madeaware of the complaints and he gave out feedback forms to customers to gain a better understanding of exactly what theproblems were.The main areas of concern that were identified as follows:• The food has been taking longer than usual to go out to customers• It is sometimes very oily.• It often goes out cold or not hot enough.The Manager followed up with the kitchen staff to gain some feedback in relation to the issues:After analysing the feedback from the Kitchen staff, the main areas of complaint were identified:• The fryer takes a long time to heat up and does not maintain the correct temperature.• The hotplate is worn out on one side and heats unevenly.• The oven struggles to maintain temperature as the rubber seals around the oven door are loose and cracked.Part B- Payment typesManagement have agreed to purchase all the equipment.They want to purchase:1. Stove2. Deep fryer3. Combi ovenHowever, they cannot afford to buy them all outright. They have asked you to investigate the following:One piece of equipment on a leasing agreement with opportunity to buy it after 12 monthsDashboard ► My courses ► Hospitality ► SIT60316 – Advanced Diploma of Hospitality Management ► SIT60316 – 2021 ►SITXFIN005 Manage Physical Assets ► Assessments ► SITXFIN005 Assessment 1 – Part B – Payment typesOne on finance from the bankAnd the third outright.Payment research:Write a report (minimum 500 words) in a Word document addressing each of the points listed below:• You are to research what is involved to arrange a leasing agreement, including payment methods suitable to thebusiness.• What is involved to receive finance from the bank.• Steps involved in buying outright• Deposits required• Time lines• Including payment methods suitable to the business• Documentation required• Document and fill in an Asset Register form for each new asset• A financial report showing the outgoing monthly payments for management to add to the cash flow report.• Outline the how these financial contracts will be stored to ensure their safety against unauthorised personal or loss ofrecords.Submission status Attempt numberThis is attempt 1 ( 5 attempts allowed ).Submission statusNo attemptGrading statusNot gradedLast modified–Submission commentsComments (0) ADD SUBMISSIONYou have not made a submission yetNAVIGATIONDashboardSite homeSite pagesMy coursesHospitalitySIT50416 – Diploma of Hospitality ManagementSIT60316 – Advanced Diploma of Hospitality ManagementSIT60316 – 2021SIT60316 – Adv Diploma of HM – General InformationSITXFIN005 Manage Physical AssetsParticipantsCompetenciesGradesGeneralZoom Class RecordingsLearner ResourcesLearner VideosOnline Lecture Recordings 2020AssessmentsSITXFIN005 Assessment 1 – Part A – Plan AcquisitionSITXFIN005 Assessment 1 – Part B – Payment typesSITXFIN005 Assessment 1 – Part C – Ongoing Mainte…Written AssessmentEvidence SubmissionSITXMPR007 Develop and Implement Marketing StrategiesBSBMGT617 Develop and Implement a Business PlanBSBFIM601 Manage FinancesSITXWHS004 Establish and Maintain a Work Health an…BSBRSK501 Manage Risk© Copyright VIT (Victorian Institute of Technology Pty Ltd) 2019-2020Victorian Institute of Technology Pty Ltd. City Campus Address: Level 14, 123 Queen Street, Melbourne, Victoria 3000AustraliaPhone: (61) 1300 17 17 55 Email: [email protected] RTO No: 20829 CRICOS Provider No: 02044E ABN: 41 085 128 525You are logged in as shehan mihidukulasuriya (Log out)SITXFIN005-2021Moodle 3.5.12 (Build: 20200704)


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