Unit of competency
Modification History
|
Release |
TP Version |
Comment |
|
1 |
AHCv1.0 |
Initial release |
Application
This unit of competency describes the skills and knowledge required to administer finance, insurance and legal requirements.
All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.
This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Pre-requisite Unit
Nil.
Unit Sector
Business (BUS)
Elements and Performance Criteria
|
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 |
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.
Range of Conditions
Unit Mapping Information
This unit is equivalent to AHCBUS401A Administer finance, insurance and legal requirements.
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72
