Unit of competency
Modification History
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Release 1 |
This version first released with CPP Property Services Training Package Release 8.0. New unit of competency. |
Application
This unit specifies the skills and knowledge required to manage and evaluate agency operational finances in the property industry.
The unit applies to industry professionals in the property industry.
State or territory licensing requirements may apply to this unit.
Pre-requisite Unit
Nil
Unit Sector
Real estate
Elements and Performance Criteria
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Elements describe the essential outcomes. |
Performance criteria describe what needs to be done to demonstrate achievement of the element. |
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1. Determine financial management requirements. |
1.1 Conduct risk analyses according to legislative requirements. 1.2 Analyse and record processes for managing budgets, financial control systems and management requirements for the agency and departments. 1.2 Analyse the standard financial records, reports and break-even analyses to develop key performance indicators (KPIs). 1.3 Allocate resources to support attainment of department and agency KPIs. 1.4 Interpret requirements and schedules for conducting financial reconciliations and producing formal reports for internal and external purposes. 1.5 Determine legislative responsibilities and best practice of financial systems. |
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2. Develop and implement strategies to manage operational finances. |
2.1 Design and implement strategies to establish and maintain link between individuals responsible for budgets and individuals operating financial control systems. 2.2 Develop and implement financial controls and processes for preparation of valid records and reports. 2.3 Implement strategies and adjust KPIs to ensure ongoing and accurate projections of income, expenditure and cash flow. |
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3. Manage operational finance systems. |
3.1 Communicate to agency staff the standards, culture and business KPIs relating to financial management in the agency. 3.2 Facilitate monitoring, reviewing and adjustment of agency and department financial practices. 3.3 Manage and review allocation of resources. 3.4 Manage the collation of periodic financial reports to provide a financial overview of the agency. |
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4. Evaluate operational finance systems. |
4.1 Analyse periodic financial reports and use data to evaluate achievement of KPIs. 4.2 Use evaluation data to determine, record and implement improvements. |
Foundation Skills
This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria:
- reading skills to interpret workplace documentation
- writing skills to accurately record information
- interpersonal and communication skills to collaborate with colleagues
- planning and organisational skills to set goals and evaluate options to inform decision making.
Unit Mapping Information
No equivalent unit.
New unit of competency.
Links
Companion volumes to this training package are available at the VETNet website - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6f3f9672-30e8-4835-b348-205dfcf13d9b
