Unit of competency
Modification History
Release 1. This is the first release of this unit of competency in the DEF Defence Training Package. |
Application
This unit describes the skills required to undertake financial management and reporting activities associated with materiel acquisition projects. This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities as part of their duties. The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities. Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform sophisticated tasks in familiar contexts. No licensing, legislative or certification requirements apply to this unit at the time of publication. |
Pre-requisite Unit
Not applicable. |
Competency Field
Financial Management |
Unit Sector
Not applicable. |
Elements and Performance Criteria
ELEMENTS |
PERFORMANCE CRITERIA |
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Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
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1 |
Produce management reports |
1.1 |
Assess stakeholder needs |
1.2 |
Compile data for end of period report |
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1.3 |
Coordinate the update of variance reports |
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1.4 |
Reconcile data with authoritative data |
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1.5 |
Review data for accuracy, validity and relevance |
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2 |
Provide input for asset management |
2.1 |
Process asset and inventory financial transactions |
2.2 |
Undertake Asset-Under-Construction assessments |
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2.3 |
Review financial asset and inventory transactions for accuracy |
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2.4 |
Develop and manage a costing model |
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3 |
Provide financial management support for procurements |
3.1 |
Provide financial input for inclusion in procurement documentation |
3.2 |
Undertake financial aspects of value for money assessment of supplier proposals |
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3.3 |
Provide input into contract development |
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3.4 |
Provide financial advice to procurement team |
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3.5 |
Review contract changes proposals for financial implications |
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4 |
Support the development of acquisition and sustainment agreements |
4.1 |
Provide financial and costing advice |
4.2 |
Review financial aspects |
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4.3 |
Assist with the development of change proposals |
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4.4 |
Provide financial management input into progress reviews |
Foundation Skills
Foundation skills essential to performance are explicit in the performance criteria of this unit of competency. |
Range of Conditions
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. |
Unit Mapping Information
No equivalent unit. |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6bdbab1e-11ed-4bc9-9cba-9e1a55d4e4a9