Unit of competency Outline

Date retreived
22/07/2026 9:04 PM AWST

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Manage operational finances in the property industry

Manage operational finances in the property industry

Unit of competency
National Code
CPPREP5006
State Code
OAR05
TGA Status
Current
DTWD Status
Approved
Current Release Number
2.00
Current Release Date
26/01/2021
View on TGA
State Implementation and Classification
Approved Date
03/06/2020
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
03/06/2020
Nominal Hours
55
Description
This unit specifies the skills and knowledge required to manage and evaluate agency operational finances in the property industry.The unit applies to industry professionals in the property industry.State or territory licensing requirements may apply to this unit.
Notes
Elements and Performance Criteria
1 Determine financial management requirements.
  • 1.1 Conduct risk analyses according to legislative requirements.
  • 1.2 Analyse and record processes for managing budgets, financial control systems and management requirements for the agency and departments.
  • 1.3 Analyse the standard financial records, reports and break-even analyses to develop key performance indicators (KPIs).
  • 1.4 Allocate resources to support attainment of department and agency KPIs.
  • 1.5 Interpret requirements and schedules for conducting financial reconciliations and producing formal reports for internal and external purposes.
  • 1.6 Determine legislative responsibilities and best practice of financial systems.
2 Develop and implement strategies to manage operational finances.
  • 2.1 Design and implement strategies to establish and maintain link between individuals responsible for budgets and individuals operating financial control systems.
  • 2.2 Develop and implement financial controls and processes for preparation of valid records and reports.
  • 2.3 Implement strategies and adjust KPIs to ensure ongoing and accurate projections of income, expenditure and cash flow.
3 Manage operational finance systems.
  • 3.1 Communicate to agency staff the standards, culture and business KPIs relating to financial management in the agency.
  • 3.2 Facilitate monitoring, reviewing and adjustment of agency and department financial practices.
  • 3.3 Manage and review allocation of resources.
  • 3.4 Manage the collation of periodic financial reports to provide a financial overview of the agency.
4 Evaluate operational finance systems.
  • 4.1 Analyse periodic financial reports and use data to evaluate achievement of KPIs.
  • 4.2 Use evaluation data to determine, record and implement improvements.
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State Code National Code Title Type
BEI0 CPP51119 Diploma of Property (Agency Management) Qualification
BHQ9 CPP51122 Diploma of Property (Agency Management) Qualification