Unit of competency Outline

Date retreived
22/07/2026 1:33 AM AWST

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Administer finance, insurance and legal requirements

Administer finance, insurance and legal requirements

Unit of competency
National Code
AHCBUS401
State Code
BAP55
TGA Status
Replaced
DTWD Status
Transition (Replaced)
Current Release Number
1.00
Current Release Date
27/06/2016
View on TGA
State Implementation and Classification
Approved Date
12/01/2017
Field of Education
080321 - Farm Management And Agribusiness
Original Release Date
12/01/2017
Nominal Hours
60
Description
This unit of competency describes the skills and knowledge required to administer finance, insurance and legal requirements.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.This unit applies to individuals who take responsibility for their own work and provide and communicate solutions to a range of predictable and sometimes unpredictable problems.No occupational licensing, legislative or certification requirements are known to 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 the compliance of business processes
  • 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 for businesses
  • 3.2 Determine costs associated with different forms of finance
  • 3.3 Assess repayment structures for finance options
4. Prepare application for finance or investment
  • 4.1 Access business and financial data and prepare an application for finance or investment
  • 4.2 Complete an application for finance
  • 4.3 Refer the finance application to management team for checking prior to submitting to the relevant body
  • 4.4 Maintain and store documentation
No information
No information
Replaces
State Code National Code Title Type
D6734 AHCBUS401A Administer finance, insurance and legal requirements Unit of competency
Replaced By
State Code National Code Title Type
OBK36 AHCBUS406 Administer finance, insurance and legal requirements Unit of competency