REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

organisational procedures for asset acquisition

fixed asset register software this may include adjusted software or equipment for use by people with disabilities

depreciation schedules

reconciliation process

banking processes

general ledgers

information systems including spreadsheets

Skills requirements include

organising and planning own work schedule to meet organisational priorities

communicating effectively to gain approval and authorisation for the purchase of assets

developing schedules and ad hoc reports

solving discrepancies in data

reconciling inventory records and general ledgers

using computers organisational accounting software systems spreadsheet applications and telecommunication devices

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context The Evidence Guide identifies the critical aspects knowledge and skills to be demonstrated to confirm competency for the unit Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace

Overview of assessment requirements

To achieve competency in this unit a person must be able to demonstrate

knowledge of organisational policies and procedures

knowledge of inventory valuation rules

knowledge of inventory flow assumptions

knowledge of relevant legislation

ability to comply with organisational asset acquisition procedures

ability to reconcile asset register and inventory records to general ledgers

ability to record inventory flows

ability to recognise new assets and asset categories

ability to prepare schedules and ad hoc reports

ability to record disposal of fixed assets

Critical aspects of evidence

Evidence required for demonstration of consistent performance

Competence in this unit must be assessed over a period of time in order to ensure consistency of performance over the Range Statement and contexts applicable to the work environment

Deliveryassessment relationship to other units

This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge

Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit or a cluster of units of competency

Assessment requirements

Method of assessment

For valid and reliable assessment of this unit evidence should be gathered through a range of methods to indicate consistent performance

Assessment of this unit of competence will usually include observation of processes and procedures oral andor written questioning on underpinning knowledge and skills and other methods as required

People with disabilities may use assistive technologies to demonstrate interview skills and or receive and respond to oral and or written questioning

Context of assessment

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personalfinancial responsibility and accountability

Aspects of competency including the attainment of relevant knowledge and skills may be assessed in a relevant workplace a closely simulated work environment or other appropriate means that clearly meet industry competency requirements

Resources required for assessment

Assessment of this unit of competence requires access to suitable resources to demonstrate competence

Assessment instruments including personal planner and assessment record book

Access to registered provider of assessment services

Documentationmay include:

Asset expenditures may include:

Organisation's policies, procedures and practices may include:

Inventory valuation rules may include:

Inventory flow assumptions may include:

Ad hoc reports may include:

Relevant legislation may include:

Disposal price data may include: