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Elements and Performance Criteria

Reconcile asset register to general ledgers
- All expenditure items are reconciled in accordance with organisation's policies, procedures and practices
- Discrepancies are identified and actioned according to organisation's policies, procedures and practices
Recognise new assets and asset categories
- New asset categories are identified
- Pro-forma for input of asset details is prepared and processed within the month of purchase
Prepare schedules and ad hoc reports

Required Skills

REQUIRED KNOWLEDGEampSKILLS

Knowledge requirements include

knowledge of teller and banking processes

knowledge of fixed asset register software

knowledge of information systems including spreadsheets

knowledge of general ledgers

introductory knowledge of the finance industry accounting principles business communication business law and business accounting

knowledge of the working environment

information technology

Skills requirements include

organising planning and controlling skills

reporting skills

problem solving skills

researching observing and analysing skills

written and verbal communication skills

numeracy skills

Evidence Required

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

thorough checking of transaction details and reconciliation reports

sound knowledge of relevant legislation

effective communication skills

thorough understanding of reconciliation processes

thorough understanding of depreciation schedules

familiarity with fixed asset register software

ability to use relevant data entry and office equipment

Critical aspects of evidence

Evidence required for demonstration of consistent performance

Assessment of performance requirements in the unit should be undertaken in an industry context Competency is demonstrated by performance of all stated criteria according to the Range Statement applicable to the workplace

Deliveryassessment relationship to other units

This unit may be assessed independently

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

Context of assessment

This unit may be assessed in the workplace or in a simulated environment

Resources required for assessment

Assessment of this unit of competence requires access to company policies and practices relevant IT systems and the databases of the financial services company

Range Statement


The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance. The following variables may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.
Expenditure items may include:	assets at cost accumulated department's expense items
Ad hoc reports/spreadsheets may include:	those prepared in relation to a range of capital expenditure items such as: Fringe Benefits Tax (FBT) salary sacrifice total purchases and disposals for a period
Organisation's policies, procedures and practice may include:	established policies, procedures and practices relating to maintenance of capital expenditure items and preparation of reconciliation reports
Relevant legislation may include:	Consumer Consumer Credit Code Privacy Act Secrecy Laws codes of practice
	Competition Australian Competition and Consumer Commission (ACCC) Prudential Financial Institutions (FI) Code Credit Reference Association of Australia (CRAA) Electronic Funds Transfer (EFT) Code of Conduct Financial Transaction Reports Act Cheques and Payment Orders act Corporate Law Commercial Tenancies Act Land Tax Assessment Act Prescribed Payments Act Payroll Tax Assessment Act Stamp Duties Act Taxation Assessment Act Bills of Exchange Act