DEFFIN016 Perform financial administration of assets

Release: 1

DEFFIN016 Perform financial administration of assets

Modification History

Release 1. This is the first release of this unit of competency in the DEF Defence Training Package.

Application

This unit describes the skills required to maintain the asset register, perform asset reviews, provide asset data in support of financial reporting requirements, and process financial adjustments of assets on relevant financial management systems. This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities related to assets as part of their duties. The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management activities. Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform routine tasks in familiar contexts. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Not applicable.

Competency Field

Financial Management

Unit Sector

Not applicable.

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	Maintain the asset register	1.1	Interpret information received from stakeholders and stocktake updates
1.2	Update master data files
2	Perform asset reviews	2.1	Undertake business reviews of assets contained in the asset register
2.2	Update master files in the asset register to reflect review outcomes
3	Report on fixed assets	3.1	Prepare asset lists for stakeholder review
3.2	Summarise asset reporting output
4	Process financial adjustment of assets	4.1	Upload adjustments
4.2	Review adjustments in the asset register to confirm completeness

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Range is restricted to essential operating conditions and any other variables essential to the work environment. Non-essential conditions may be found in the Companion Volume Implementation Guide.

Unit Mapping Information

No equivalent unit.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=6bdbab1e-11ed-4bc9-9cba-9e1a55d4e4a9