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

FNSICORG301B Mapping and Delivery Guide
Administer fixed asset register

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSICORG301B - Administer fixed asset register
Description This unit describes those functions associated with the maintenance of capital expenditure items.This unit describes those functions associated with the maintenance of capital expenditure items.
Employability Skills The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary for the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.
Learning Outcomes and Application This unit requires the application of sound financial and accounting knowledge and the ability to interpret and apply relevant legislation in the management of the fixed asset register. It may be applied within and across financial institutions of various sizes.This unit requires the application of sound financial and accounting knowledge and the ability to interpret and apply relevant legislation in the management of the fixed asset register. It may be applied within and across financial institutions of various sizes.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.
Prerequisites/co-requisites Not applicable.
Competency Field
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: 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
       
Element: 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
       
Element: Prepare schedules and ad hoc reports
  • Depreciation expense is updated regularly according to depreciation schedule
  • Spreadsheets and reconciliations are prepared in accordance with annual tax schedule, with allowance made for permanent differences
  • Spreadsheets/ad hoc reports are prepared as requested
       


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.

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:

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.

Delivery/assessment 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 and/or 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.

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.

REQUIRED KNOWLEDGE&SKILLS

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

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

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
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 
New asset categories are identified 
Pro-forma for input of asset details is prepared and processed within the month of purchase 
Depreciation expense is updated regularly according to depreciation schedule 
Spreadsheets and reconciliations are prepared in accordance with annual tax schedule, with allowance made for permanent differences 
Spreadsheets/ad hoc reports are prepared as requested 

Forms

Assessment Cover Sheet

FNSICORG301B - Administer fixed asset register
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

FNSICORG301B - Administer fixed asset register

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: