Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

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

1. Reconcile asset register to general ledgers

1.1 Record all expenditure items in accordance with organisational policy, procedures and practices

1.2 Identify and action discrepancies according to organisational policy, procedures and practices, and relevant legislation

2. Recognise new assets and asset categories

2.1 Identify new asset categories

2.2 Prepare and process proforma for input of asset details within month of purchase

3. Prepare schedules and ad hoc reports

3.1 Update depreciation expense regularly according to depreciation schedule

3.2 Prepare spreadsheets and reconciliations in accordance with annual tax schedule, with allowance made for permanent differences

3.3 Prepare spreadsheets and ad hoc reports as requested

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 2.1, 3.1

• Identifies and extracts relevant information from policies, procedures and legislation

Writing

1.1, 1.2, 2.2, 3.1, 3.2, 3.3

• Records, maintains and updates accurate information in required formats
• Compiles reports in compliance with a range of organisational and regulatory requirements

Oral Communication

3.3

• Participates in discussions using questioning and active listening to determine work requirements

Numeracy

1.1, 1.2, 3.1-3.3

• Records familiar numerical information, recognises discrepancies and extracts, evaluates and compares numerical information for reports

Navigate the world of work

1.1, 1.2

• Recognises and follows relevant legislation, and organisational policy, procedures and practices

Interact with others

3.3

• Follows accepted communication practices and protocols for supplying reports

Get the work done

1.1, 1.2, 2.1, 2.2, 3.1-3.3

• Plans a range of routine and non-routine tasks according to defined requirements, accepting defined goals and aiming to achieve them efficiently
• Applies problem-solving techniques to identify, analyse and resolve discrepancies
• Uses the main features and functions of digital tools to enter and store data, and access information

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSORG301 Administer fixed asset register

FNSORG301A Administer fixed asset register

Updated to meet Standards for Training Packages

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.