Unit of competency Outline

Date retreived
23/07/2026 12:56 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Contribute to the planning and conduct of forest valuation

Contribute to the planning and conduct of forest valuation

Unit of competency
National Code
FWPFRM5004
State Code
ODS25
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
28/01/2022
View on TGA
State Implementation and Classification
Approved Date
21/06/2022
Field of Education
050501 - Forestry Studies
Original Release Date
21/06/2022
Nominal Hours
90
Description
This unit of competency describes the skills and knowledge required to contribute to the selection and application of appropriate forest valuation methods to value forest stands.The unit applies to individuals who undertake forester or forestry field officer job roles in the forest industry. All work must be carried out to comply with workplace procedures according to state/territory health and safety regulations, legislation and standards that apply to the workplace.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Recommend forest valuation method
  • 1.1 Determine reasons for proposed forest valuation
  • 1.2 Research legislative requirements, accounting standards set by the Australian Accounting Standards Board (AASB) and industry standards that apply to forest valuation in Australia
  • 1.3 Research features, applications and data requirements of different forest valuation methods
  • 1.4 Establish criteria for selecting a forest valuation
  • 1.5 Apply selection criteria to recommend the appropriate forest valuation method
  • 1.6 Forward recommendation to appropriate personnel and confirm further actions
2. Support forest valuation process
  • 2.1 Confirm and record data on ownership, boundaries, forest inventory, yield estimates and the characteristics and treatments that have been applied to the stand
  • 2.2 Conduct forest valuation in accordance with legislative requirements, AASB accounting standards and industry standards
  • 2.3 Liaise with and seek support from senior personnel during valuation process, as required
  • 2.4 Verify accuracy and reliability of collated data and seek additional information required to confirm valuation as required
  • 2.5 Analyse forest stand valuation methods, including quoted price in the market, transactions, present value, lump sum and cost based and select the most suitable for use
  • 2.6 Apply software program for valuing forest assets according to workplace procedures
  • 2.7 Select alternative valuation methods for forest estates or plantations with particular characteristics
3. Document forest valuation
  • 3.1 Prepare draft valuation report using an agreed method, highlighting findings and rationale
  • 3.2 Forward draft valuation report to appropriate personnel and confirm further actions
  • 3.3 Maintain records and documentation according to workplace procedures
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State Code National Code Title Type
BHL6 FWP50121 Diploma of Forest Operations Qualification