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Unit of competency details

AHCBUS403 - Prepare project acquittal (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes AHCCCF401 - Prepare project acquittalChanges to unit application and sector. Minor changes to performance criteria. Foundation skills added. Major and minor edits to performance and knowledge evidence and assessment conditions 23/Jan/2023

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 24/Jan/2023

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  30/Mar/2023 
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Unit of competency

Modification History

Release

Comments

Release 1

This version released with AHC Agriculture, Horticulture and Conservation and Land Management Training Package Version 9.0.

Application

This unit of competency describes the skills and knowledge required to review project documentation, establish acquittal records, identify transactions and reports, and prepare an acquittal statement for auditing and approval.

The unit applies to individuals who apply specialist skills and knowledge to prepare project acquittal. This includes applying and communicating non-routine technical solutions to predictable and unpredictable problems.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Nil

Unit Sector

Business (BUS)

Elements and Performance Criteria

Elements

Performance Criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish acquittal records

1.1 Access and review program or project plans, guidelines or contracts and financial reporting requirements

1.2 Collect financial information for acquittal report

1.3 Establish records of materials, equipment and labour provided before start of project for acquittal report

2. Identify transactions and reports relating to project

2.1 Identify project-related accounting transactions and reports in group accounts for use in acquittal

2.2 Determine need for separate statements based on different funding sources

2.3 Estimate financial values of in-kind donations of materials, loan of equipment and labour

3. Prepare acquittal in required format

3.1 Prepare acquittal from accounting and other information according to program and contract requirements

3.2 Report program funds and expenditure on operations separately from group contributions to project

3.3 Report group contributions to project according to contract requirements

3.4 Consolidate report for approval and auditing

4. Arrange audit and approval of acquittal and transactions

4.1 Arrange audit of acquittal report and transactions according to program and contract requirements

4.2 Arrange approval of report according to group, program and contract requirements

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.

Skill

Description

Reading
  • Identify and interpret information regarding requirements for project acquittal

Numeracy
  • Calculate and record financial data
  • Use basic mathematical processes of addition, subtraction, division, multiplication, percentages, decimal points and ratios

Unit Mapping Information

Code and title current version

Code and title previous version

Comments

Equivalence status

AHCBUS403 Prepare project acquittal

AHCCCF401 Prepare project acquittal

Changes to unit application and sector

Minor changes to performance criteria

Foundation skills added

Major and minor edits to performance and knowledge evidence and assessment conditions

Not equivalent

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

 

Assessment requirements

Modification History

Release

Comments

Release 1

This version released with AHC Agriculture, Horticulture and Conservation and Land Management Training Package Version 9.0.

Performance Evidence

An individual demonstrating competency must satisfy all of the elements and performance criteria in this unit.

There must be evidence that the individual has prepared a project acquittal on at least one occasion and has:

  • collated budget resources and inputs to project from planning documents
  • accessed accounts and developed a list of transactions related to the project
  • prepared the project acquittal for reporting and auditing according to program and contract requirements
  • recorded and reported cash and in-kind contributions
  • arranged for an audit of the acquittal, transactions and final report.

Knowledge Evidence

An individual must be able to demonstrate the knowledge required to perform the tasks outlined in the elements and performance criteria of this unit. This includes knowledge of:

  • program objectives and guidelines
  • procedures for preparing project acquittals
  • basic financial reporting formats and procedures
  • project acquittal reporting requirements.

Assessment Conditions

Assessment of the skills in this unit of competency must take place under the following conditions:

  • physical conditions:
  • a workplace setting or an environment that accurately represents workplace conditions
  • resources, equipment and materials:
  • program or project plans, guidelines or contracts and financial reporting requirements
  • project financial information
  • computer hardware and software.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

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