This unit of competency describes the skills and knowledge required to administer finance, insurance and legal requirements.

All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.

This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

Element	Performance criteria
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Administer the legal requirements of the business	1.1 Identify, implement and monitor legislative requirements to ensure the compliance of business processes 1.2 Identify, maintain and store legal documents 1.3 Review legislative requirements regularly
2. Process and maintain the insurance requirements for the business	2.1 Identify and assess insurance requirements 2.2 Identify suitable insurers or brokers and obtain quotations 2.3 Acquire adequate insurance policies and cover 2.4 Review legislative requirements and insurance cover 2.5 File documents to ensure security and accessibility
3. Identify sources, types and cost of finance	3.1 Conduct research on the types of finance for businesses 3.2 Determine costs associated with different forms of finance 3.3 Assess repayment structures for finance options
4. Prepare application for finance or investment	4.1 Access business and financial data and prepare an application for finance or investment 4.2 Complete an application for finance 4.3 Refer the finance application to management team for checking prior to submitting to the relevant body 4.4 Maintain and store documentation

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

interpret financial reports and farm business data

maintain basic accounts

administer the legal requirements of the business

process and maintain the insurance requirements for the business

identify sources, types and cost of finance

prepare an application for finance or investment.

The candidate must demonstrate knowledge of:

business processes and legal requirements

insurance processes and legal requirements

finance processes and legal requirements

taxation and account keeping requirements.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Element	Performance criteria
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Administer the legal requirements of the business	1.1 Identify, implement and monitor legislative requirements to ensure the compliance of business processes 1.2 Identify, maintain and store legal documents 1.3 Review legislative requirements regularly
2. Process and maintain the insurance requirements for the business	2.1 Identify and assess insurance requirements 2.2 Identify suitable insurers or brokers and obtain quotations 2.3 Acquire adequate insurance policies and cover 2.4 Review legislative requirements and insurance cover 2.5 File documents to ensure security and accessibility
3. Identify sources, types and cost of finance	3.1 Conduct research on the types of finance for businesses 3.2 Determine costs associated with different forms of finance 3.3 Assess repayment structures for finance options
4. Prepare application for finance or investment	4.1 Access business and financial data and prepare an application for finance or investment 4.2 Complete an application for finance 4.3 Refer the finance application to management team for checking prior to submitting to the relevant body 4.4 Maintain and store documentation

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

interpret financial reports and farm business data

maintain basic accounts

administer the legal requirements of the business

process and maintain the insurance requirements for the business

identify sources, types and cost of finance

prepare an application for finance or investment.

The candidate must demonstrate knowledge of:

business processes and legal requirements

insurance processes and legal requirements

finance processes and legal requirements

taxation and account keeping requirements.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice	Yes	No	Comments/feedback
Identify, implement and monitor legislative requirements to ensure the compliance of business processes
Identify, maintain and store legal documents
Review legislative requirements regularly
Identify and assess insurance requirements
Identify suitable insurers or brokers and obtain quotations
Acquire adequate insurance policies and cover
Review legislative requirements and insurance cover
File documents to ensure security and accessibility
Conduct research on the types of finance for businesses
Determine costs associated with different forms of finance
Assess repayment structures for finance options
Access business and financial data and prepare an application for finance or investment
Complete an application for finance
Refer the finance application to management team for checking prior to submitting to the relevant body
Maintain and store documentation

Assessment Cover Sheet

AHCBUS401 - Administer finance, insurance and legal requirements

Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

AHCBUS401 - Administer finance, insurance and legal requirements

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: