Unit of competency Outline

Date retreived
23/07/2026 5:38 AM AWST

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Administer finance, insurance and legal requirements

Administer finance, insurance and legal requirements

Unit of competency
National Code
AHCBUS406
State Code
OBK36
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
21/10/2019
View on TGA
State Implementation and Classification
Approved Date
28/01/2020
Field of Education
080321 - Farm Management And Agribusiness
Original Release Date
28/01/2020
Nominal Hours
60
Description
This unit of competency describes the skills and knowledge required to administer finance, insurance and legal requirements of a business.This unit applies to individuals who work as part of a business management team, who provide and communicate solutions to a range of predictable and sometimes unpredictable problems.All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Administer the legal requirements of the business
  • 1.1 Identify, implement and monitor legislative requirements to ensure business processes comply
  • 1.2 Identify, maintain and store legal documents
  • 1.3 Review legislative requirements regularly
2. Process and maintain the insurance requirements for the business
  • 2.1 Identify and assess insurance requirements
  • 2.2 Identify suitable insurers or brokers and obtain quotations
  • 2.3 Acquire adequate insurance policies and cover
  • 2.4 Review legislative requirements and insurance cover
  • 2.5 File documents to ensure security and accessibility
3. Identify sources, types and cost of finance
  • 3.1 Conduct research on the types of finance available to businesses
  • 3.2 Determine costs associated with different forms of finance
  • 3.3 Assess repayment structures for finance options in consultation with management team
4. Develop an application for finance or investment
  • 4.1 Prepare an application for finance or investment, based on business and financial data
  • 4.2 Refer the finance application to management team for checking prior to submitting to the relevant body
  • 4.3 Maintain and store documentation
No information
No information
Replaces
State Code National Code Title Type
BAP55 AHCBUS401 Administer finance, insurance and legal requirements Unit of competency