Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

DEFFIN006 Mapping and Delivery Guide
Perform financial management of public sector assets

Version 1.0
Issue Date: March 2024


Qualification -
Unit of Competency DEFFIN006 - Perform financial management of public sector assets
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills required to undertake asset assessments, review assets under construction, manage asset reviews and process financial adjustments of disposed assets.This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities related to assets as part of their duties.The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial administration.Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform complex tasks in familiar contexts.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment must include access to:

a range of relevant exercises, case studies and/or other simulations

relevant and appropriate materials, tools, equipment and personal protective equipment (PPE) currently used in industry

applicable documentation, including workplace procedures, regulations, codes of practice and operation manuals

acceptable means of simulated assessment.

Prerequisites/co-requisites
Competency Field Financial Management
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities
Slides
PPT
Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Conduct asset assessment
  • Determine asset type
  • Calculate asset value
  • Record details on the relevant financial management system
       
Element: 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
       
Element: 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
       
Element: Process financial adjustment of disposed assets
  • Review disposal documentation for accuracy and completeness
  • Process disposal on financial management system
       


Evidence Required

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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Conduct asset assessment

1.1

Determine asset type

1.2

Calculate asset value

1.3

Record details on the relevant financial management system

2

Review assets under construction

2.1

Determine accounting treatment of project expenditure

2.2

Assess ongoing viability of assets to provide assurance of the value

2.3

Validate acceptance documentation and recognise assets in use in the financial management system

3

Perform asset management reviews

3.1

Analyse and prepare data for the asset management reviews

3.2

Distribute prepared data to relevant stakeholders

3.3

Analyse stakeholder returns

3.4

Process financial adjustments in the financial management system

4

Process financial adjustment of disposed assets

4.1

Review disposal documentation for accuracy and completeness

4.2

Process disposal on financial management system

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.

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.


Submission Requirements

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

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1

Conduct asset assessment

1.1

Determine asset type

1.2

Calculate asset value

1.3

Record details on the relevant financial management system

2

Review assets under construction

2.1

Determine accounting treatment of project expenditure

2.2

Assess ongoing viability of assets to provide assurance of the value

2.3

Validate acceptance documentation and recognise assets in use in the financial management system

3

Perform asset management reviews

3.1

Analyse and prepare data for the asset management reviews

3.2

Distribute prepared data to relevant stakeholders

3.3

Analyse stakeholder returns

3.4

Process financial adjustments in the financial management system

4

Process financial adjustment of disposed assets

4.1

Review disposal documentation for accuracy and completeness

4.2

Process disposal on financial management system

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.

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
Determine asset type 
Calculate asset value 
Record details on the relevant financial management system 
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 
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 
Review disposal documentation for accuracy and completeness 
Process disposal on financial management system 

Forms

Assessment Cover Sheet

DEFFIN006 - Perform financial management of public sector assets
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

DEFFIN006 - Perform financial management of public sector assets

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: