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Elements and Performance Criteria

1. Maintain the asset register
   • Interpret information received from stakeholders and stocktake updates
   • Update master data files
2. Perform asset reviews
   • Undertake business reviews of assets contained in the asset register
   • Update master files in the asset register to reflect review outcomes
3. Report on fixed assets
   • Prepare asset lists for stakeholder review
   • Summarise asset reporting output
4. Process financial adjustment of assets
   • Upload adjustments
   • Review adjustments in the asset register to confirm completeness

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 Asset-Under-Construction value determining asset value maintaining accurate asset records preparing data for asset management review processing 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 organisational asset accounting policies relevant legislation and organisation procedures.

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