Unit of competency Outline

Date retreived
22/07/2026 9:27 PM AWST

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Manage assets

Manage assets

Unit of competency
National Code
TLIP5036
State Code
AVI01
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
19/10/2015
View on TGA
State Implementation and Classification
Approved Date
23/02/2016
Field of Education
080101 - Accounting
Original Release Date
23/02/2016
Nominal Hours
5
Description
This unit involves the skills and knowledge required to manage assets as part of work undertaken in various contexts within the transport and logistics industry. It includes determining asset classification and identification, recording and valuing assets and maintaining an asset management system.The unit generally applies to those who lead individuals or teams.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Determine asset classification and identification
  • 1.1 Asset register format is determined on basis of current needs and business plan, in accordance with company requirements
  • 1.2 Compatible classification system that meets asset accounting and asset management needs is selected, in accordance with company requirements
  • 1.3 Value thresholds for assets to be recorded in the asset register are determined, in accordance with company requirements
2 Record and value assets
  • 2.1 Specified details of all material assets are identified and recorded, in accordance with asset management policies and procedures
  • 2.2 Assets are recorded in compliance with legislative and company requirements
  • 2.3 Condition of each asset is determined, in accordance with manufacturer specifications, and legislative and company requirements
  • 2.4 Useful/residual life of each asset is determined, in accordance with manufacturer specifications and company requirements
  • 2.5 Current value of each asset based on valid and reliable information is calculated, in accordance with legislative and company requirements
3 Maintain asset management system
  • 3.1 Records are continuously updated to record asset purchases, loss, damage or disposal, in accordance with company requirements
  • 3.2 Periodic audits are conducted to ensure accuracy of asset register, in accordance with company requirements
  • 3.3 Asset management system is periodically reviewed to ensure it is supporting business needs, in accordance with company requirements
  • 3.4 Training to support effective management and maintenance of the asset register is provided, in accordance with company requirements
No information
No information
Replaces
State Code National Code Title Type
D5316 TLIP5036A Manage assets Unit of competency