Unit of competency details

AHCAGB301A - Keep records for a primary production business (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 10/Jun/2011

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by AHCAGB301 - Keep production records for a primary production businessThis unit is not equivalent to AHCAGB301A Keep records for a primary production business 26/Jun/2016
Supersedes RTE3904A - Keep records for a primary production business09/Jun/2011

Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SFI11 - Seafood Industry Training PackageSeafood Industry Training Package 1.0-2.2 
AHC10 - Agriculture, Horticulture and Conservation and Land ManagementAgriculture, Horticulture and Conservation and Land Management 2.0-8.0 
ACM10 - Animal Care and ManagementAnimal Care and Management 2.0-3.0 

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 091301 Librarianship And Information Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 091301 Librarianship And Information Management  04/Nov/2011 
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Modification History

Not Applicable

Unit Descriptor

Unit descriptor 

This unit covers the process of keeping records for a primary production business and defines the standard required to: prepare and process basic financial transactions; reconcile and prepare invoices within primary production businesses; copy and file invoices and other related documents in accordance with organisational requirements for taxation and auditing purposes.

Application of the Unit

Application of the unit 

This unit requires a full range of well-developed skills where some discretion and judgement is required. The physical and financial records of the business are vital for use by management for planning purposes, meeting legislative requirements, and the efficient operation of the business on a daily basis.

Licensing/Regulatory Information

Not Applicable

Pre-Requisites

Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Not Applicable

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

1. Prepare and store physical records

1.1. Physical records and inventories required for the organisation are determined in consultation with the management team.

1.2. Methods for collecting information are reliable, and time and resources are used efficiently.

1.3. Appropriate interpersonal skills are used to access relevant information from individuals and teams.

1.4. Information is organised into a format suitable for analysis, interpretation and dissemination in accordance with organisational requirements.

1.5. Business equipment/technology is used to maintain information in accordance with organisational and Occupational Health and Safety (OHS) requirements.

1.6. Records are updated and stored in accordance with organisational requirements.

2. Process petty cash transactions

2.1. Petty cash claims and vouchers are checked for accuracy and authenticity prior to processing.

2.2. Petty cash transactions are processed and recorded in accordance with organisational requirements.

2.3. Petty cash book balanced in accordance with organisational requirements.

3. Establish and maintain a cash book in accordance with organisational requirements

3.1. Cash receipts and payments book created, and documentation relating to financial transactions checked for validity prior to processing.

3.2. Cashbook balances reconciled with bank and creditor statements.

3.3. Cashbook balances are used to complete legislative reporting requirements.

3.4. Cash flow statements are prepared on the basis of summarised cashbook entries.

4. Reconcile invoices for payment to creditors

4.1. Adjustments and errors are identified, reported and rectified in accordance with organisational requirements.

4.2. Invoices processed and payment made in accordance with organisational requirements.

5. Prepare invoices for debtor

5.1. Invoices are prepared accurately and, if required, distributed to nominated person for verification prior to despatch.

5.2. Adjustments are made as required in accordance with organisational requirements.

5.3. Invoices and other related documents copied and filed in accordance with organisational requirements for taxation and auditing purposes.

Required Skills and Knowledge

Not Applicable

Evidence Guide

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 

The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy holistically all of the requirements of the performance criteria and required skills and knowledge and include achievement of the following:

  • prepare and process basic financial transactions
  • reconcile and prepare invoices within primary production businesses
  • copy and file invoices and other related documents in accordance with organisational requirements for taxation and auditing purposes.

Context of and specific resources for assessment 

Competency requires the application of work practices under work conditions. Selection and use of resources for some worksites may differ due to the regional or enterprise circumstances.

Range Statement

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole.

Financial records may include:

  • financial transactions
  • cashbook and invoices within a primary production business.

Physical records may include:

  • property plan
  • livestock records
  • paddock treatments including spraying
  • rainfall records
  • physical production
  • sales data
  • supplies
  • machinery and equipment
  • stock records.

Unit Sector(s)

Unit sector 

Agribusiness

Co-requisite units

Co-requisite units 

Competency field

Competency field 

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