Unit of competency Outline
Date retreived
23/07/2026 2:21 AM AWST
23/07/2026 2:21 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.
Manage assets
Manage assets
Unit of competency
National Code
BSBATSIM406B
BSBATSIM406B
State Code
D0587
D0587
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
18/07/2008
Field of Education
080301 - Business Management
Original Release Date
18/07/2008
Nominal Hours
40
Description
This unit covers the management of and accountability for the organisations assets.Some aspects of governance activities may be subject to legislation, rules, regulations and/or codes of practice relevant to different job roles and jurisdictions.This unit covers the management of and accountability for the organisations assets.Some aspects of governance activities may be subject to legislation, rules, regulations and/or codes of practice relevant to different job roles and jurisdictions.
Notes
Elements and Performance Criteria
1 Recognise Board responsibilities for assets
- 1.1 Advise directors of their statutory responsibilities with respect to assets
- 1.2 Explain the consequences for not complying with statutory responsibilities
2 Ensure assets records are established
- 2.1 Establish a register or registers for the organisation's movable assets
- 2.2 Identify and document a job responsibility for the register
- 2.3 Assure the security of assets records
- 2.4 Record and secure asset documents
3 Develop and implement policies and procedures for the use of assets
- 3.1 Develop, approve and document policies and administrative procedures for managing assets
- 3.2 Implement policies and procedures
4 Ensure that assets and records are maintained
- 4.1 Receive information with respect to assets and update records
- 4.2 Undertake repairs as appropriate
- 4.3 Document and report damage, loss or theft of assets
- 4.4 Agree and document follow up action
5 Ensure insurance cover
- 5.1 Arrange and maintain insurance following acquisition
- 5.2 Sign claims as appropriate for damage, loss or theft
6 Oversee an annual internal audit of assets
- 6.1 Check annually items recorded in the asset register
- 6.2 Up-date asset register with current information
- 6.3 Review and document reports
7 Oversee acquisition and disposal of assets
- 7.1 Approve acquisitions and the disposal of assets in line with existing plans and budgets
- 7.2 Meet funding body requirements regarding asset acquisition and disposal
- 7.3 Follow organisational procedures
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Movable assets may include:
vehicles
plant and equipment
office furniture
A register of assets may include:
manual records
computer based records
Assets documents may include:
titles and certificates
invoice/ receipts
guarantees
insurance
maintenance records
Administrative procedures may include:
invoices and receipts
labelling
insurance
use and control
internal audit
disposal
The asset register may include:
identifying number
date of purchase
location
value
major repairs
additions
obsolescence
loss / theft
insurance claims
Movable assets may include:
vehicles
plant and equipment
office furniture
A register of assets may include:
manual records
computer based records
Assets documents may include:
titles and certificates
invoice/ receipts
guarantees
insurance
maintenance records
Administrative procedures may include:
invoices and receipts
labelling
insurance
use and control
internal audit
disposal
The asset register may include:
identifying number
date of purchase
location
value
major repairs
additions
obsolescence
loss / theft
insurance claims
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
Integrated demonstration of all elements of competency and their performance criteria, and
Assets are managed effectively for the use of the organisation
Context of and specific resources for assessment
Assessment must ensure:
This unit of competency should be assessed through the performance of Board duties, but in the event that there is no opportunity to observe such a performance a simulated environment can be used but such simulation must replicate Board conditions in terms of: performing the task; managing a number of different tasks; coping with irregularities and breakdowns in routine; dealing with the responsibilities and expectations of the Board, including working with others; and transferring competency to other situations
Knowledge and performance to be assessed over time to confirm consistency in performance
Method of assessment
The following assessment method is appropriate for this unit:
Performance of Board duties, or through an accurate simulation of Board duties
Guidance information for assessment
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
Integrated demonstration of all elements of competency and their performance criteria, and
Assets are managed effectively for the use of the organisation
Context of and specific resources for assessment
Assessment must ensure:
This unit of competency should be assessed through the performance of Board duties, but in the event that there is no opportunity to observe such a performance a simulated environment can be used but such simulation must replicate Board conditions in terms of: performing the task; managing a number of different tasks; coping with irregularities and breakdowns in routine; dealing with the responsibilities and expectations of the Board, including working with others; and transferring competency to other situations
Knowledge and performance to be assessed over time to confirm consistency in performance
Method of assessment
The following assessment method is appropriate for this unit:
Performance of Board duties, or through an accurate simulation of Board duties
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C3761 | BSBATSIM406A | Manage assets | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| D4852 | BSBATSIM420A | Oversee asset management | Unit of competency |
| D4850 | BSBATSIM418A | Oversee financial management | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D162 | BSB41907 | Certificate IV in Business (Governance) | Qualification |