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Evidence Guide: DEFFIN006 - Perform financial management of public sector assets

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

 

DEFFIN006 - Perform financial management of public sector assets

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

Conduct asset assessment

  1. Determine asset type
  2. Calculate asset value
  3. Record details on the relevant financial management system
Determine asset type

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Calculate asset value

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Record details on the relevant financial management system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review assets under construction

  1. Determine accounting treatment of project expenditure
  2. Assess ongoing viability of assets to provide assurance of the value
  3. Validate acceptance documentation and recognise assets in use in the financial management system
Determine accounting treatment of project expenditure

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess ongoing viability of assets to provide assurance of the value

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Perform asset management reviews

  1. Analyse and prepare data for the asset management reviews
  2. Distribute prepared data to relevant stakeholders
  3. Analyse stakeholder returns
  4. Process financial adjustments in the financial management system
Analyse and prepare data for the asset management reviews

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Distribute prepared data to relevant stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse stakeholder returns

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process financial adjustments in the financial management system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process financial adjustment of disposed assets

  1. Review disposal documentation for accuracy and completeness
  2. Process disposal on financial management system
Review disposal documentation for accuracy and completeness

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process disposal on financial management system

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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.

Range Statement

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.