Unit of competency Outline

Date retreived
22/07/2026 11:30 AM AWST

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Manage financial records

Manage financial records

Unit of competency
National Code
RIIFIA401D
State Code
WH290
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
2.00
Current Release Date
07/12/2014
View on TGA
State Implementation and Classification
Approved Date
30/05/2014
Field of Education
080101 - Accounting
Original Release Date
30/05/2014
Nominal Hours
30
Description
This unit describes a participant’s skills and knowledge required to manage financial records in the Resources and Infrastructure Industries.This unit is appropriate to those working in technical specialists or supervisory roles.No licensing or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Prepare/receive invoices
  • 1.1 Access, interpret and apply financial record documentation and ensure the work activity is compliant
  • 1.2 Estimate all job components accurately
  • 1.3 Present financial data and record quotations
  • 1.4 Levy charges according to services, and render accounts to clients
  • 1.5 Promptly and accurately prepare invoices to help ensure desired cash flow
  • 1.6 Verify accounts received for accuracy and pay promptly
2 Maintain cost records
  • 2.1 Maintain financial controls and accountability
  • 2.2 Record all costs in writing promptly, legibly and accurately
3 Prepare reports on variances from cost estimates
  • 3.1 Analyse cost records to detect variances/reasons for variances
  • 3.2 Compare final costing with original job tender
  • 3.3 Prepare reports in accordance with organisation format
4 Monitor financial performance
  • 4.1 Determine and maintain strategies for managing budget against actual performance
  • 4.2 Determine and calculate cost to enterprise requirements
  • 4.3 Complete reporting and pricing records
  • 4.4 Produce financial reports in a clear and timely manner for distribution to relevant stakeholders
No information
No information
Replaces
State Code National Code Title Type
D9329 RIIFIA401A Manage financial records Unit of competency
Replaced By
State Code National Code Title Type
OBX08 RIIFIA401E Manage financial records Unit of competency
State Code National Code Title Type
AZG0 RII40915 Certificate IV in Drilling Operations Qualification
J675 RII40913 Certificate IV in Drilling Operations Qualification