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Evidence Guide: FNSORG301A - 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

 

FNSORG301A - 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 policies, procedures and practices and relevant legislation
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 policies, procedures and practices and relevant legislation

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 and 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 and ad hoc reports are prepared as requested

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to:

accurate lT record transaction details and producing reconciliation reports

apply relevant reconciliation processes and manage depreciation schedules.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to organisation policies and practices and asset register systems and data.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports.

Guidance information for assessment

Required Skills and Knowledge

Required skills

communication skills to:

determine and confirm work requirements, using questioning and active listening as required

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy skills to:

accurately analyse, record and store data in accordance with organisational requirements

calculate capital purchases, deprecation and related data

research and analysis for accessing, interpreting and managing capital purchase and depreciation information

IT skills for accessing and using appropriate specialist software, spreadsheets and databases and using internet information

problem solving skills to address asset information issues

organisational skills, including the ability to plan and sequence work

Required knowledge

basic accounting principles

basic finance industry administration processes and procedures

features of fixed asset registers

role and structure of general ledgers

legalisation requirements regarding capital purchase and depreciation

banking processes

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that 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) may also be included.

Expenditure items may include:

accumulated department expense items

assets at cost.

Organisation policies, procedures and practice may include:

established policies, procedures and practices relating to:

maintenance of capital expenditure items

preparation of reconciliation reports.

Relevant legislation may include:

consumer

Consumer Credit Code

Privacy Act

prudential

Electronic Funds Transfer (EFT) Code of Conduct

Financial Transaction Reports Act

Cheques and Payment Orders Act

Commercial Tenancies Act

Land Tax Assessment Act

Prescribed Payments Act

Payroll Tax Assessment Act

Stamp Duties Act

Taxation Assessment Act

Bills of Exchange Act.

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.