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Evidence Guide: AHCBUS401 - Administer finance, insurance and legal requirements

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AHCBUS401 - Administer finance, insurance and legal requirements

What evidence can you provide to prove your understanding of each of the following citeria?

Administer the legal requirements of the business

  1. Identify, implement and monitor legislative requirements to ensure the compliance of business processes
  2. Identify, maintain and store legal documents
  3. Review legislative requirements regularly
Identify, implement and monitor legislative requirements to ensure the compliance of business processes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify, maintain and store legal documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review legislative requirements regularly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process and maintain the insurance requirements for the business

  1. Identify and assess insurance requirements
  2. Identify suitable insurers or brokers and obtain quotations
  3. Acquire adequate insurance policies and cover
  4. Review legislative requirements and insurance cover
  5. File documents to ensure security and accessibility
Identify and assess insurance requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify suitable insurers or brokers and obtain quotations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Acquire adequate insurance policies and cover

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review legislative requirements and insurance cover

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

File documents to ensure security and accessibility

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify sources, types and cost of finance

  1. Conduct research on the types of finance for businesses
  2. Determine costs associated with different forms of finance
  3. Assess repayment structures for finance options
Conduct research on the types of finance for businesses

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine costs associated with different forms of finance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess repayment structures for finance options

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare application for finance or investment

  1. Access business and financial data and prepare an application for finance or investment
  2. Complete an application for finance
  3. Refer the finance application to management team for checking prior to submitting to the relevant body
  4. Maintain and store documentation
Access business and financial data and prepare an application for finance or investment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete an application for finance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer the finance application to management team for checking prior to submitting to the relevant body

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain and store documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Administer the legal requirements of the business

1.1 Identify, implement and monitor legislative requirements to ensure the compliance of business processes

1.2 Identify, maintain and store legal documents

1.3 Review legislative requirements regularly

2. Process and maintain the insurance requirements for the business

2.1 Identify and assess insurance requirements

2.2 Identify suitable insurers or brokers and obtain quotations

2.3 Acquire adequate insurance policies and cover

2.4 Review legislative requirements and insurance cover

2.5 File documents to ensure security and accessibility

3. Identify sources, types and cost of finance

3.1 Conduct research on the types of finance for businesses

3.2 Determine costs associated with different forms of finance

3.3 Assess repayment structures for finance options

4. Prepare application for finance or investment

4.1 Access business and financial data and prepare an application for finance or investment

4.2 Complete an application for finance

4.3 Refer the finance application to management team for checking prior to submitting to the relevant body

4.4 Maintain and store documentation

Required Skills and Knowledge

Element

Performance criteria

Elements describe the essential outcomes.

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

1. Administer the legal requirements of the business

1.1 Identify, implement and monitor legislative requirements to ensure the compliance of business processes

1.2 Identify, maintain and store legal documents

1.3 Review legislative requirements regularly

2. Process and maintain the insurance requirements for the business

2.1 Identify and assess insurance requirements

2.2 Identify suitable insurers or brokers and obtain quotations

2.3 Acquire adequate insurance policies and cover

2.4 Review legislative requirements and insurance cover

2.5 File documents to ensure security and accessibility

3. Identify sources, types and cost of finance

3.1 Conduct research on the types of finance for businesses

3.2 Determine costs associated with different forms of finance

3.3 Assess repayment structures for finance options

4. Prepare application for finance or investment

4.1 Access business and financial data and prepare an application for finance or investment

4.2 Complete an application for finance

4.3 Refer the finance application to management team for checking prior to submitting to the relevant body

4.4 Maintain and store documentation

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

interpret financial reports and farm business data

maintain basic accounts

administer the legal requirements of the business

process and maintain the insurance requirements for the business

identify sources, types and cost of finance

prepare an application for finance or investment.

The candidate must demonstrate knowledge of:

business processes and legal requirements

insurance processes and legal requirements

finance processes and legal requirements

taxation and account keeping requirements.

Range Statement