Unit of competency Outline
Date retreived
23/07/2026 12:44 AM AWST
23/07/2026 12:44 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
TLIP5036A
TLIP5036A
State Code
D5316
D5316
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
05/11/2014
Field of Education
080101 - Accounting
Original Release Date
05/11/2014
Nominal Hours
5
Description
This unit involves the skills and knowledge required to manage assets. It includes determining asset classification and identification; recording and valuing assets; and maintaining an asset management system. Licensing, legislative, regulatory or certification requirements are applicable to this unit.
Notes
Elements and Performance Criteria
1Determine asset classification and identification
- 1.1 Determine asset register format on basis of current needs and business plan in accordance with company requirements
- 1.2 Select a compatible classification system that meets asset accounting and asset management needs in accordance with company requirements
- 1.3 Determine value thresholds for assets to be recorded in the asset register in accordance with company requirements
2Record and value assets
- 2.1 Identify and record specified details of all material assets in accordance with the asset management policies and procedures
- 2.2 Record all assets in compliance with legislative and company requirements
- 2.3 Determine condition of each asset in accordance with manufacturers specifications and legislative and company requirements
- 2.4 Determine useful/residual life of each asset in accordance with manufacturers specifications and company requirements
- 2.5 Calculate current value of each asset based on valid and reliable information in accordance with legislative and company requirements
3Maintain asset management system
- 3.1 Update records continuously to record asset purchases, loss, damage or disposal in accordance with company requirements
- 3.2 Conduct periodic audits to ensure accuracy of asset register in accordance with company requirements
- 3.3 Review asset management system periodically to ensure it is supporting business needs in accordance with company requirements
- 3.4 Provide training to support effective management and maintenance of the asset register in accordance with company requirements
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance.
Assets may include:
buildings
business and marketing contracts
assets in the process of being transferred
land
office equipment and furniture
plant and equipment
vehicles
facilities
Asset register may be a computer or manual file and include:
damage/loss/theft
date of purchase
identifying number
insurance policies and claims
invoices and receipts
location
major repairs
obsolescence
value
Depending on the organisation concerned, workplace procedures may be called:
standard operating procedures (SOPs)
company procedures
enterprise procedures
organisational procedures
established procedures
Consultative processes may involve:
other employees and supervisors
suppliers
relevant authorities and institutions
management and union representatives
industrial relations and OH&S specialists
Documentation and records may include:
lists of assets and or asset registers
regulations and codes of practice relevant to ADG code, including safeworking and local authority regulations and procedures
workplace policies and procedures related to ADG code
relevant Australian Standards and certification requirements
Applicable legislation and regulations may include:
relevant regulations, codes and safeworking systems for the use and checking of assets
Australian and international regulations and codes of practice for the transport of dangerous goods and hazardous substances
relevant state/territory OH&S and environmental protection legislation
workplace relations regulations
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance.
Assets may include:
buildings
business and marketing contracts
assets in the process of being transferred
land
office equipment and furniture
plant and equipment
vehicles
facilities
Asset register may be a computer or manual file and include:
damage/loss/theft
date of purchase
identifying number
insurance policies and claims
invoices and receipts
location
major repairs
obsolescence
value
Depending on the organisation concerned, workplace procedures may be called:
standard operating procedures (SOPs)
company procedures
enterprise procedures
organisational procedures
established procedures
Consultative processes may involve:
other employees and supervisors
suppliers
relevant authorities and institutions
management and union representatives
industrial relations and OH&S specialists
Documentation and records may include:
lists of assets and or asset registers
regulations and codes of practice relevant to ADG code, including safeworking and local authority regulations and procedures
workplace policies and procedures related to ADG code
relevant Australian Standards and certification requirements
Applicable legislation and regulations may include:
relevant regulations, codes and safeworking systems for the use and checking of assets
Australian and international regulations and codes of practice for the transport of dangerous goods and hazardous substances
relevant state/territory OH&S and environmental protection legislation
workplace relations regulations
EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required knowledge and skills, the range statement and the assessment guidelines for this Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:
the underpinning knowledge and skills
relevant legislation and workplace procedures
other relevant aspects of the range statement
Context of and specific resources for assessment
Performance is demonstrated consistently over a period of time and in a suitable range of contexts
Resources for assessment include:
a range of relevant exercises, case studies and/or other simulated practical and knowledge assessment, and/or
access to an appropriate range of relevant operational situations in the workplace
In both real and simulated environments, access is required to:
relevant and appropriate materials and equipment, and
applicable documentation including workplace procedures, regulations, codes of practice and operation manuals
Method of assessment
Assessment of this unit must be undertaken by a registered training organisation
As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests
Practical assessment must occur:
through activities in an appropriately simulated environment at the registered training organisation, and/or
in an appropriate range of situations in the workplace
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required knowledge and skills, the range statement and the assessment guidelines for this Training Package.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
The evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria of this unit and include demonstration of applying:
the underpinning knowledge and skills
relevant legislation and workplace procedures
other relevant aspects of the range statement
Context of and specific resources for assessment
Performance is demonstrated consistently over a period of time and in a suitable range of contexts
Resources for assessment include:
a range of relevant exercises, case studies and/or other simulated practical and knowledge assessment, and/or
access to an appropriate range of relevant operational situations in the workplace
In both real and simulated environments, access is required to:
relevant and appropriate materials and equipment, and
applicable documentation including workplace procedures, regulations, codes of practice and operation manuals
Method of assessment
Assessment of this unit must be undertaken by a registered training organisation
As a minimum, assessment of knowledge must be conducted through appropriate written/oral tests
Practical assessment must occur:
through activities in an appropriately simulated environment at the registered training organisation, and/or
in an appropriate range of situations in the workplace
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AVI01 | TLIP5036 | Manage assets | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| W943 | TLI50510 | Diploma of Deployment Logistics | Qualification |
| W942 | TLI50410 | Diploma of Logistics | Qualification |
| W941 | TLI50210 | Diploma of Materiel Logistics | Qualification |
| W935 | TLI41510 | Certificate IV in Materiel Logistics | Qualification |
| J807 | TLI50613 | Diploma of Rail Operations Management | Qualification |