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Elements and Performance Criteria

1. Conduct asset assessment
   • Determine asset type
   • Calculate asset value
   • Record details on the relevant financial management system
2. Review assets under construction
   • Determine accounting treatment of project expenditure
   • Assess ongoing viability of assets to provide assurance of the value
   • Validate acceptance documentation and recognise assets in use in the financial management system
3. Perform asset management reviews
   • Analyse and prepare data for the asset management reviews
   • Distribute prepared data to relevant stakeholders
   • Analyse stakeholder returns
   • Process financial adjustments in the financial management system
4. Process financial adjustment of disposed assets
   • Review disposal documentation for accuracy and completeness
   • Process disposal on financial management system

Range Statement

Range is restricted to essential operating conditions and any other variables essential to the work environment. Non-essential conditions may be found in the Companion Volume Implementation Guide.

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Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include: analysing and providing assurance of Asset-Under-Construction value calculating asset value communicating with stakeholders evaluating data for asset management review preparing reports processing and reviewing financial adjustments, additions and disposals validating acceptance documentation.

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Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of: asset types difference between a capital and an expensed payment disposal documentation requirements relevant legislation and organisational asset accounting policies.

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