Diploma of Accounting

This qualification reflects professional accounting job roles in financial services and other industries. It contributes to, but does not encompass, educational requirements for providing tax agent services. A tax agent service is any service that relates to:

ascertaining or advising about the liabilities, obligations or entitlements of an entity under a taxation law; or

representing an entity in their dealings with the Commissioner of Taxation.

A tax agent service includes, but is not limited to, the following:

a Business Activity Statement (BAS) service;

preparing or lodging an approved form about a taxpayer's liabilities, obligations or entitlements under a taxation law;

giving a taxpayer advice about a taxation law that the taxpayer can reasonably be expected to rely upon to satisfy their taxation obligations; or

dealing with the Commissioner on behalf of a taxpayer in relation to a taxation law.

Persons providing a tax agent service must be registered by the Tax Practitioners Board and meet educational and other requirements for registration including a designated period of experience. Persons seeking tax agent registration should check current registration requirements with the Board as this is regularly under review. More information and contact details for the Tax Practitioners Board are provided in the FNS10 Financial Services Training Package Information Kit available from the IBSA website.


Subjects

Packaging Rules

9 units must be achieved:

6 core units

plus3 elective units.

One (1) of the required elective units of competency must be selected from the elective bank below

the remaining electives may be selected from the elective bank below, other units aligned to Certificate IV, Diploma or Advanced Diploma qualifications in the FNS10 Financial Services or another endorsed Training Package or accredited course.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.

Core units of competency:

add topic FNSACC501A Provide financial and business performance information

add topic FNSACC502A Prepare income tax returns for individuals

add topic FNSACC503A Manage budgets and forecasts

add topic FNSACC504A Prepare financial reports for corporate entities

add topic FNSACC506A Implement and maintain internal control procedures

add topic FNSACC507A Provide management accounting information

Elective units of competency:

add topic BSBITU402A Develop and use complex spreadsheets

add topic BSBWOR401A Establish effective workplace relationships

add topic FNSACC505A Establish and maintain accounting information systems

add topic FNSACC607A Evaluate business performance

add topic FNSINC601A Apply economic principles to work in the financial services industry

add topic FNSINC602A Interpret and use financial statistics and tools

add topic FNSFMK505A Comply with financial services legislation and industry codes of practice

add topic FNSORG505A Prepare financial reports to meet statutory requirements

add topic FNSORG506A Prepare financial forecasts and projections

NOTE 1. Current accredited courses may contain units relevant to accounting for and reporting on organisational sustainability. For example units VPAU324 Develop a carbon inventory for the workplace and VPAU325 Develop a carbon report for the workplace from the Swinburne University of Technology Course in Carbon Accounting. Further details of the course and study options for these units are provided in the FNS10 Financial Services Training Package Information Kit.

NOTE 2. Certain elective units may be required to progress to membership of professional organisations, articulate with defined credit into the FNS60210 Advanced Diploma of Accounting or further study in higher education programs. Learners should establish such requirements or credit arrangements where they apply in order to make appropriate choices.


Pathways...

    Qualification Pathway

    Entry requirements

    The entry requirement for this qualification is completion of the 9 units which comprise the core from the FNS40610 Certificate IV in Accounting

    Or

    Completion of the 10 units which comprise the core from the FNS40604 Certificate IV in Accounting.

    The entry requirement can be met by evidence of equivalent competency to either of the above through recognition of prior learning (RPL).

    Pathways

    Preferred pathways for candidates entering this qualification include:

    FNS40610 Certificate IV in Accounting

    FNS40210 Certificate IV in Bookkeeping

    The primary pathway from this qualification is employment in accounting job roles with duties such as:

    introducing and maintaining accounting systems

    maintaining internal control systems

    preparing financial statements for a non-reporting entity

    preparing tax returns

    reporting on business performance

    managing small teams

    developing business plans

    preparing accounting reports for management.

    A further learning pathway utilising qualifications such as FNS60210 Advanced Diploma of Accounting would support career progression.

    NOTE Certain elective units may be required to progress to membership of relevant professional organisations. Learners should establish such requirements where they apply in order to make appropriate choices.


Entry Requirements

Not applicable.


Licensing Information

Not applicable.


Employability Skills

QUALIFICATION SUMMARY

Employability Skill

Industry/enterprise requirements for this qualification include:

Communication

compiling data and preparing financial statements and ad hoc reports

developing and writing reports to specifications

discussing and negotiating with stakeholders on matters relating to financial management

liaising, listening and consulting

using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues

preparing and presenting correspondence in appropriate electronic format

Teamwork

contributing and working with others to implement policies and procedures

referring matters to nominated person as required

Problem solving

applying estimating, forecasting and analysis skills

conducting variance and cost benefit analyses

determining security protocols

developing financial performance indicators and security arrangements to ensure the integrity of the system

establishing and reviewing assumptions/parameters

identifying financial risks

identifying OHS hazards and exercising risk control

solving discrepancies

Initiative and enterprise

applying learning about ergonomic activities to develop improved processes

applying referral skills

designing reports to effectively present workplace information

identifying trends in the industry

referring non-routine problems to a nominated person

researching the feasibility of workplace opportunities

Planning and organising

establishing and maintaining an accounting system

establishing, monitoring and reviewing reporting systems

maintaining accounting records for compliance purposes

maintaining systems, records and reporting procedures

preparing, documenting and managing budgets and forecasts

preparing taxation returns

researching and managing data collection and testing

setting milestones and performance indicators

timetabling, scheduling reports and lodgements

Self-management

adapting to change in technology and work practices

defining own work role and understanding limits of responsibility

developing internal control procedures for corporate governance

identifying and acting upon professional development opportunities

understanding and acting upon compliance requirements

working ethically and complying with industry professional code of practice and legislative requirements

Learning

developing and maintaining personal competence

following workplace safety procedures

maintaining currency of knowledge of relevant legislation and codes of practice

using online help for self-learning purposes

Technology

adapting to change in technology and working within ergonomic guidelines

using technology to assist the management of information and to establish and operate systems

using word processing, spreadsheet and database skills to produce workplace documents and reports