Assessment Requirements for CPPREP5006 Manage operational finances in the property industry

Release: 2

Assessment Requirements for CPPREP5006 Manage operational finances in the property industry

Modification History

Release 2	This version first released with CPP Property Services Training Package Release 13.1. Renumbered PCs 1.1 - 1.5 to rectify numbering repetition of PC 1.2. PCs are now numbered from 1.1 to 1.6.
Release 1	This version first released with CPP Property Services Training Package Release 8.0. New unit of competency.

Performance Evidence

To demonstrate competency in this unit, a person must develop, implement and evaluate a plan to manage the operational finances in a property agency.

In doing this, the person must meet the performance criteria for this unit.

Knowledge Evidence

To be competent in this unit, a person must demonstrate knowledge of:

Commonwealth and state or territory legislation and local government regulations related to operational finances in the property industry

legislative responsibilities related to operational finances in real estate:

Business Activity Reports

superannuation

taxation returns

records retention periods

reporting protocols

salaries and commissions

agency policies, procedures and standards

agency quality standards

account-keeping practices

methods and tools for recording and reporting on operational finances

commission payment structures in the property industry

range of analysis techniques to interpret operational and feedback data

use of financial controls and reports in operational finances in real estate:

cash flow projections and forecasts

profit and loss reports

balance sheets (assets and liabilities)

break-even analyses

fixed costs and variable costs analyses

budgets

cost controls

reconciliation reports

use of profit centres

financial key performance indicators (KPIs)

capital interest costs

opportunity costs

processes for:

managing risk

analysing, determining and documenting financial strategies for agency departments for inclusion in business planning

establishing financial control roles in the property industry

directing financial controls in the property industry

managing and evaluating financial performance in the property industry.

Assessment Conditions

Assessors must satisfy the requirements for assessors listed in the Standards for Registered Training Organisations.

Assessment must be conducted in the workplace or in a simulated workplace environment.

Assessors are responsible for ensuring that the person demonstrating competency has access to materials and equipment meeting the operational requirements of a property agency, including:

business plans, strategies, policies and procedures, forms and records

financial records to enable realistic analysis and planning

position descriptions for employees, including detailed roles and responsibilities

equipment required to prepare documentation and to manage processes and teams in a property agency.

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