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Evidence Guide: FNSICORG301B - Administer fixed asset register

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

 

FNSICORG301B - Administer fixed asset register

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

Reconcile asset register to general ledgers

  1. All expenditure items are reconciled in accordance with organisation's policies, procedures and practices
  2. Discrepancies are identified and actioned according to organisation's policies, procedures and practices
All expenditure items are reconciled in accordance with organisation's policies, procedures and practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discrepancies are identified and actioned according to organisation's policies, procedures and practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Recognise new assets and asset categories

  1. New asset categories are identified
  2. Pro-forma for input of asset details is prepared and processed within the month of purchase
New asset categories are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pro-forma for input of asset details is prepared and processed within the month of purchase

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare schedules and ad hoc reports

  1. Depreciation expense is updated regularly according to depreciation schedule
  2. Spreadsheets and reconciliations are prepared in accordance with annual tax schedule, with allowance made for permanent differences
  3. Spreadsheets/ad hoc reports are prepared as requested
Depreciation expense is updated regularly according to depreciation schedule

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Spreadsheets and reconciliations are prepared in accordance with annual tax schedule, with allowance made for permanent differences

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Spreadsheets/ad hoc reports are prepared as requested

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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.

Required Skills and Knowledge

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

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