Learner name:

Learner number:

F/501/5827

VRQ

UV10357

Being responsible for other people’s money

VTCT is the specialist awarding body for the Hairdressing, Beauty Therapy, Complementary Therapy and Sport and Active Leisure sectors, with over 45 years of experience.

VTCT is an awarding body regulated by national organisations including Ofqual, SQA, DCELLS and CCEA.

VTCT is a registered charity investing in education and skills but also giving to good causes in the area of facial disfigurement.

By signing this statement of unit achievement you are confirming that all learning outcomes, assessment criteria and range statements have been achieved under specified conditions and that the evidence gathered is authentic.

This statement of unit achievement table must be completed prior to claiming certification.

Unit code Date achieved Learner signature Assessor initials

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Assessor tracking table

Statement of unit achievement

All assessors using this Record of Assessment book must complete this table. This is required for verification purposes.

UV10357Being responsible for other people’s money

In this unit you will consider your responsibility to ensure that if you are handling other people’s money, you keep it safe and use it wisely. The unit will help you to understand the different types of payment that may be used and when different types of payment are used.

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GLH

Credit value

Level

Observation(s)

External paper(s)

10

1

1

1

0

On completion of this unit you will:

Learning outcomes Evidence requirements

Being responsible for other people’s money

1. Be able to handle financial transactions responsibly

2. Know different methods of payment and when they could be used

3. Understand the importance of handling other people’s money responsibly

4. Know procedures that might apply when responsible for other people’s money

1. Observation outcomes Competent performance of ‘Observation’ outcomes must be demonstrated to your assessor on at least 1 occasion.

2. Knowledge outcomes There must be evidence that you possess all the knowledge and understanding listed in the ‘Knowledge’ section of this unit. This evidence may include projects, assignments, case studies, reflective accounts, oral/written questioning and/or other forms of evidence.

3. Tutor/Assessor guidance You will be guided by your tutor/assessor on how to achieve learning outcomes. All outcomes must be achieved.

4. External paper There is no external paper requirement for this unit.

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Achieving observation outcomes Achieving range

Achieving observations and range

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Your assessor will observe your performance of practical tasks. The minimum number of observations required is indicated in the evidence requirements section of this unit.

Criteria may not always naturally occur during a practical observation. In such instances you will be asked questions to demonstrate your competence in this area. Your assessor will document the criteria that have been achieved through oral questioning.

Your assessor will sign off an outcome when all criteria have been competently achieved.

There are no range statements that apply to this unit.

4

You can:

*May be assessed through oral questioning.

Be able to handle financial transactions responsibly

a. Carry out simple financial transactions accurately

b. Keep an accurate record of simple financial transactions

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Observation 1Date achieved

Criteria questioned orally

Portfolio reference

Assessor initials

Learner signature

Observations

Outcome 1

Achieving knowledge outcomes

Developing knowledge

You will be guided by your tutor and assessor on the evidence that needs to be produced. Your knowledge and understanding will be assessed using the assessment methods listed below:

• Observed work• Witness statements• Audio-visual media • Evidence of prior learning or attainment• Written questions• Oral questions• Assignments• Case studies

Where possible your assessor will integrate knowledge outcomes into practical observations through oral questioning.

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Knowledge

Outcome 2

Know different methods of payment and when they could be used

You can: Portfolio reference

a. Identify different methods of payment

b. Describe when different methods of payment are likely to be used

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Outcome 3

Understand the importance of handling other people’s money responsibly

You can: Portfolio reference

a. Explain the consequences of not handling other people’s money responsibly

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Outcome 4

Know procedures that might apply when responsible for other people’s money

You can: Portfolio reference

a. Describe procedures that might apply when responsible for other people’s money

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Unit content

This section provides guidance on the recommended knowledge and skills required to enable you to achieve each of the learning outcomes in this unit. Your tutor/assessor will ensure you have the opportunity to cover all of the unit content.

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Outcome 1: Be able to handle financial transactions responsibly

Carrying out financial transactions: Politely request cash total, check authenticity, count notes and coins and insert into till/cash box, provide the correct change.

Recording financial transactions: Filing/storing of receipts, completion of expense forms.

Outcome 2: Know the different methods of payment and when they could be used

Methods: Cash, debit cards, credit cards, store cards, direct debit, loyalty cards, coupons and vouchers.

Use of different payments: Decisions based on numerous factors (including whether immediate payment is required), retail options (i.e. small shop may only accept cash), availability of cash, electronic payment options, option to spread payments over a period of time.

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Outcome 3: Understand the importance of handling other people’s money responsibly

Importance: Personal and company reputation, prevent legal implications.

Consequences: Termination of contract, loss of trust, respect and business, custodial sentence.

Outcome 4: Know procedures that might apply when responsible for other people’s money

Procedures: Maintaining customer and account holder confidentiality (including personal and financial details), maintaining security, being accountable with calculations and ensuring all actions are signed and dated.

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Notes Use this area for making notes and drawing diagrams