Unit of competency Outline

Date retreived
22/07/2026 1:33 PM AWST

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Perform financial management of public sector assets

Perform financial management of public sector assets

Unit of competency
National Code
DEFFIN006
State Code
BBC70
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
17/08/2017
View on TGA
State Implementation and Classification
Approved Date
21/02/2018
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
21/02/2018
Nominal Hours
0
Description
This unit describes the skills required to undertake asset assessments, review assets under construction, manage asset reviews and process financial adjustments of disposed assets.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 administration.Those undertaking this unit would be working under minimal supervision and/or supervising small teams while undertaking financial management tasks. They would perform complex tasks in familiar contexts.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Conduct asset assessment
  • 1.1 Determine asset type
  • 1.2 Calculate asset value
  • 1.3 Record details on the relevant financial management system
2 Review assets under construction
  • 2.1 Determine accounting treatment of project expenditure
  • 2.2 Assess ongoing viability of assets to provide assurance of the value
  • 2.3 Validate acceptance documentation and recognise assets in use in the financial management system
3 Perform asset management reviews
  • 3.1 Analyse and prepare data for the asset management reviews
  • 3.2 Distribute prepared data to relevant stakeholders
  • 3.3 Analyse stakeholder returns
  • 3.4 Process financial adjustments in the financial management system
4 Process financial adjustment of disposed assets
  • 4.1 Review disposal documentation for accuracy and completeness
  • 4.2 Process disposal on financial management system
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State Code National Code Title Type
BDK1 DEF50817 Diploma of Defence Financial Management Qualification