FNS50222 – Diploma of Accounting

Qualification Description

This qualification reflects professional accounting job roles in financial services and other industries, including tax agents, accounts payable and accounts receivable officers, payroll service providers, and employees performing a range of accounting tasks for organizations in a range of industries. Individuals in these roles apply solutions to a range of often complex problems and analyze and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others within defined guidelines.

Outcomes

Potential Careers

Careers and titles vary across different industry sectors. Possible job titles relevant to this qualification include:

  • Accountant
  • Accounts Clerk
  • Bookkeeper
  • Finance Sector Supervisor
  • Senior Financial Clerk
  • Accounts Payable/Receivable Officer

Practical Skills

The course will use theory, case studies, practical demonstrations/role plays and mini-projects to enable you to develop practical skills you can apply in your workplace, including, how to:

  • Prepare and process routine financial documents
  • Record general journal adjustment entries
  • Prepare end of period financial reports
  • Analyse and report on a broad range of financial and business performance information
  • Prepare non-complex income tax returns
  • Prepare, document and manage budgets and forecasts
  • Prepare financial reports for a reporting entity
  • Review corporate governance requirements

Mode of Delivery

Face to Face

75% Face to Face Training
Trainer led sessions with in-class experiential activities

Online

25% Online Training
Moodle Based Assessment Tasks

Location

Level 6, 2 Meredith Street, BANKSTOWN NSW 2200

Course Duration

The program for FNS50222 Diploma of Accounting is delivered over 52 weeks with actual student contact hours being 20 hours per week for 40 weeks. It has been divided in to 4 terms of 10 weeks each with 12 weeks of holidays.

Who Should Undertake This Qualification

Providing you with practical training in the specialized knowledge of the accounting discipline, this qualification would be valuable for employees who currently need to perform accounting duties such as introducing and maintaining accounting systems, reporting on business performance and preparing financial statements. It’s also designed to provide a comprehensive skill set those who are seeking a new career in the field of accounting.

ℹ️ Information

Whether you are looking to enter the accounting workforce immediately or pursue further study, this program is your passport to manage accounting information and systems, budgeting, creating forecasts, financial reports and individual tax returns. You will be well equipped in the essential skills of accounting to maximise opportunities in a growing industry with great salary potential. Learn the latest accounting software applications such as QuickBooks and MYOB, provide accurate financial forecasts and evaluate and solve complex problems. At the successful completion of this course you will be qualified to apply for roles within any business or accounting practice or you could even set up your own taxation practice.
Want to unlock of a whole new world of career opportunities? FNS50222 Diploma of Accounting is your ticket.

Course Requirements

General Requirements

  • Students must be over 18 years of age
  • A fully completed Australian AQF Level 4 qualification or High School Certificate qualification or equivalent; or overseas qualifications in Higher Education.
  • Sufficient language, literacy and numeracy skills to complete the course
  • Students whose first language is not English, must provide proof of English language competency by providing one of the below:

✓ A current IELTS score of 5.5 total or above with no band lower than 5.0;
✓ Proof of completion of an Australian qualification in English language that is of one year or longer duration;
✓ Successful completion of an approved English of Academic Purposes courses meeting IELTS 5.5 equivalent requirements;
✓ Successful score of Upper Intermediate Level of completion of the School’s English Language Placement Test.

Basic Computer Skills:

  • Knowledge of common computing terms and word processing
  • Proficiency with web browser software and sending/receiving e-mail including e-mail with attachment.
  • Familiarity with navigating the Internet
  • Familiarity with using Microsoft Office

Entry requirements will be checked at enrolment in line with the Southern Cross School of Business Student Selection and Enrolment Policy and Procedures.

Language, Literacy and Numeracy

Each student must complete the Language, Literacy and Numeracy (LLN) Indicator Tool. This LLN evaluation will assist Southern Cross School of Business in identifying each learner’s needs and appropriate support to be offered if and when required.

Unique Student Identifier

Each student must provide their USI (Unique Student Identifier) before they are to commence their studies. If you do not have a USI, you can create one at: https://www.usi.gov.au/students/create-your-usi

Assessment Overview

Each unit comprises of assessment tasks such as written questions, case studies and practical assessments must be completed in full before being submitted for marking. Assessments for qualifications are competency based, which means students are assessed against the unit of competency (unit) requirements.

Assessment marking system:

  • Competent (C) result: the student’s submitted work satisfies the learning requirements and all competency standards for the unit (in accordance with the National Register https://training.gov.au/).
  • Not Yet Competent (NYC) result: the student’s submitted work does not demonstrate their understanding of all competency standards in the unit. If a student receives a ‘Not Yet Competent’ outcome, he or she will receive written feedback from a trainer/assessor, clearly outlining where the gaps are. The student will then be required to rectify these gaps and re-submit their assessment for marking.
Once a student receives a satisfactory result for all required assessment tasks a competent (C) outcome will be awarded for the entire unit. The student must demonstrate their understanding of all competency standards in each unit before receiving a competent outcome.
Students have three (3) attempts to demonstrate competency, otherwise a unit re-enrolment fee applies (please see fee schedule contained in the Student Handbook).

Learner Resources

Southern Cross School of Business will provide its students with access to a wide range of learning resources. Some of those resources have been developed in-house whereas some other resources have been purchased from reputable resource providers available in the market. The resources available to students are in the form of Power point slides on each unit, Learner’s Guide or Student Workbook, access to ‘Handout’ folders in the Student online portal, which will contain handouts under each of the unit’s assessment resources. All students will be given the opportunity to obtain the soft copies of available resources, should they desire.

There are general use computers available at the campus. However, for ease of access, the School encourages students to bring their own laptop / media pads to the school for added convenience.

The following units of competency are required for the completion of this course.
Total number of units = 11

  • 7 Core Units
  • 4 Elective Units

Core Units

Learning Content

BSBTEC402

Design and produce complex spreadsheets

In this unit students will gain skills and knowledge required to Prepare and plan to develop spreadsheet. Develop a linked spreadsheet solution and represent numerical data in graphic form and store spreadsheet.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC521

Provide financial and business performance information

In this unit students will gain skills and knowledge required to analyse and report on a broad range of financial and business performance information. It encompasses assessing client needs, analysing data, and preparing advice.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC522

Prepare tax documentation for individuals

In this unit students will gain skills and knowledge required to prepare non-complex income tax returns for individuals in line with statutory requirements. It encompasses gathering and verifying data, calculating taxable income, and reviewing compliance requirements.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC523

Manage budgets and forecasts

In this unit students will gain skills and knowledge required to prepare, document, and manage budgets and forecasts. It encompasses forecasting estimates and monitoring budgeted outcomes.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC524

Prepare financial reports for corporate entities

In this unit students will gain skills and knowledge required to prepare financial reports for a corporate reporting entity. It encompasses compiling and analysing data and meeting statutory reporting requirements.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC526

Implement and maintain internal control procedures

In this unit students will gain skills and knowledge required to review corporate governance requirements, implement internal control operating procedures, and monitor associated policy.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC527

Provide management accounting information

In this unit students will gain skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports, and review costing system integrity to calculate and record the costs of products and services.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

Elective Units

Learning Content

FNSFMK515

Comply with financial services regulation and industry codes of practice

In this unit students will gain skills and knowledge required to ensure financial regulatory obligations in work practices. Identify implications for products and services, and amendments in agreement with client, regulatory and organisational obligations and maintain statutory records as per organisational, legal and regulatory requirements.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC418

Work effectively in the accounting and bookkeeping industry

In this unit students will gain skills and knowledge required to work autonomously and in teams to complete work activities relating to the provision of accounting and bookkeeping services.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC321

Process financial transactions and extract interim reports

In this unit students will gain skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journal entries to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

FNSACC412

Prepare operational budgets

In this unit students will gain skills and knowledge required to record and prepare payroll documentation and answer payroll queries and process payroll for manual and computerised systems. Implement organisational policy and procedures, and legal and regulatory requirements.

A variety of assessment tools are used including theoretical questions, projects and applied learning activities.

For more information about this course, please visit https://training.gov.au/Training/Details/FNS50222