Unit of competency Outline

Date retreived
22/07/2026 9:43 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.

Maintain financial records in a small business

Maintain financial records in a small business

Unit of competency
National Code
TLIP3026
State Code
AWL37
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
29/02/2016
View on TGA
State Implementation and Classification
Approved Date
04/08/2016
Field of Education
081101 - Banking And Finance
Original Release Date
04/08/2016
Nominal Hours
40
Description
This unit involves the skills and knowledge required to maintain financial records in a small business, in accordance with relevant codes of practice and regulations as part of work activities within the transport and logistics industry. It includes establishing financial management system requirements, and financial management systems and maintaining financial reporting systems. Work is performed in either a team or autonomous working situation. No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Establish financial management system requirements
  • 1.1 Financial management system reporting requirements are established, in accordance with business plans, and statutory and regulatory obligations
  • 1.2 Financial system needs and statutory reporting requirements are identified
2 Establish financial management system
  • 2.1 Financial administrative systems are established to match identified business requirements
  • 2.2 Mechanisms for the review of terms of trade and fee structures are reconciled to meet business needs and industry standards
  • 2.3 Equipment and software needed to operate the financial administrative system are identified, acquired and installed in association with relevant accounting and technical staff
  • 2.4 System financial administration, reporting and performance indicators are maintained in accordance with business's statutory obligations
  • 2.5 Financial administrative systems are implemented in accordance with planned processes and policies
3 Maintain financial reporting systems
  • 3.1 Financial reports required to monitor business performance, to ensure accurate and timely information on working capital and cash flow, and to meet statutory obligations are accurately prepared in the prescribed format and at the required times
  • 3.2 Financial reports are distributed to relevant personnel and organisations by due dates
  • 3.3 Financial administration and reporting systems are evaluated against established performance indicators
No information
No information
Replaces
State Code National Code Title Type
D5295 TLIP3026A Maintain financial records in a small business Unit of competency