Maintain asset and inventory records

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSACCT406B, 'Maintain asset and inventory records'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Maintain asset and inventory records' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria

Elements and Performance Criteria


Performance Criteria


Comply with organisational asset acquisition procedures


Approval and authorisation for purchase of assets is obtained


Quotes are obtained and other organisational purchase procedures are followed


All asset purchases documentation and invoices are reconciled


Assets received are checked for compliance with the quantity and quality as per documentation


Reconcile asset register and inventory records to general ledgers


All asset expenditures are reconciled in accordance with organisation's policies, procedures and practices to the accounting records


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


Record inventory flows


Purchase of inventory is recorded in subsidiary ledger


Asset register is established and maintained


Periodic and perpetual records are maintained


Inventory flow assumptions are applied as appropriate


Inventory is valued using appropriate valuation rules


Recognise new assets and asset categories


New asset categories are identified where appropriate


Proforma for input of asset details is prepared and processed accurately and in a timely fashion


Prepare schedules and ad hoc reports


Spreadsheets/ad hoc reports are prepared as requested


Record disposal of fixed assets


Assets are disposed of in accordance with organisational procedures, relevant legislative requirements and under supervision of appropriate persons


Disposal price data is obtained and entered into accounting records


Accounting procedures are followed for the removal of assets from ledger and asset register

Qualifications and Skillsets

FNSACCT406B appears in the following qualifications:

  • PSP40504 - Certificate IV in Government (Financial Services)