FNS50217 Diploma of Accounting

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 organisations in a range of industries. Individuals in these roles apply solutions to a range of often complex problems and analyse 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.

Licensing/Regulatory Information
Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. This qualification includes units that comprise an approved Tax Practitioner Board (TPB) course in Australian taxation law and commercial law, which are relevant for registration as a tax agent. Persons seeking registration with the TPB should check current registration requirements with the TPB, as registration requirements are reviewed regularly.

Successful candidates will receive a nationally recognised FNS50217 Diploma of Accounting from My CPE Pty Ltd (RTO ID 45717).

The units included have been selected based on feedback from industry and their applicability to the TPB registration requirements:

Core Units  (6)

• FNSACC511 Provide financial and business performance information
• FNSACC512 Prepare tax documentation for individuals¹
• FNSACC513 Manage budgets and forecasts
• FNSACC514 Prepare financial reports for corporate entities*
• FNSACC516 Implement and maintain internal control procedures
• FNSACC517 Provide management accounting information

Stream A – Elective Units (5)

• BSBTEC402 Design and produce complex spreadsheets
• FNSACC505 Establish and maintain accounting information systems
• BSBPEF501 Manage personal and professional development
• BSBFIM502 Manage payroll
• BSBLDR413 Lead effective workplace relationships

Stream B – Elective Units (5)

• FNSPAY501 Process salary packaging arrangements and additional allowances in payroll
• FNSPAY502 Process superannuation payments in payroll
• FNSPAY503 Process complex employee terminations in payroll
• FNSPAY504 Interpret and apply knowledge of industrial regulations relevant to payroll
• FNSPAY505 Interpret and apply knowledge of taxation systems relevant to payroll

¹ Unit included in the Tax Practitioners Board approved course in Australian taxation law: FNSSS00008 Taxation Law for Tax Agents Skill Set (Tax documentation).

² Unit included in the Tax Practitioners Board approved course in commercial law: FNSSS00005 Commercial Law for Tax Agents Skill Set.

Note: The following prerequisite unit requirements BSBFIA401 Prepare financial reports and FNSACC311 Process financial transactions and extract interim reports are Prerequisite units to FNSACC514 Prepare financial reports for corporate entities.

Note: The elective units must be relevant to the work environment and the qualification, maintain the integrity of the AQF alignment and contribute to a valid industry-supported vocational outcome. Electives can be modified; discuss options with your Assessor.

To be eligible to enrol in the Diploma of Accounting, candidates must demonstrate they have met the course entry requirements below. If you are unsure of your eligibility, please contact our office.

Completion of the following units, or their equivalent, which constitute the requirements for the FNSSS00014 Accounting Principles Skill Set:

• BSBFIA401 Prepare financial reports
• FNSACC311 Process financial transactions and extract interim reports
• FNSACC312 Administer subsidiary accounts and ledgers
• FNSACC408 Work effectively in the accounting and bookkeeping industry
• FNSACC416 Set up and operate a computerised accounting system
• FNSTPB401 Complete business activity and instalment activity statements
• FNSTPB402 Establish and maintain payroll systems; OR
• Completion of FNS40615 Certificate IV in Accounting or equivalent; OR
• Completion of FNS40215 Certificate IV in Bookkeeping or equivalent.

Other requirements

• At least 18 years of age at the time of enrolment
• Access to a computer and internet connection
• Good language, literacy & numeracy skills.

The Diploma qualifies individuals who apply integrated technical and theoretical concepts in a broad range of contexts to undertake advanced skilled or paraprofessional work and as a pathway for further learning. Graduates at this level will have specialised knowledge and skills for skilled/paraprofessional work and/or further learning and have technical and theoretical knowledge in a specific area or a broad field of work and learning.

Graduates at this level will have a broad range of cognitive, technical and communication skills to select and apply methods and technologies to:

• Analyse information to complete a range of activities
• Provide and transmit solutions to sometimes complex problems
• Transmit information and skills to others.

Graduates at this level will apply knowledge and skills to demonstrate autonomy, judgement and defined responsibility in known or changing contexts and within broad but established parameters and gain technical and theoretical knowledge and concepts, with depth in some areas within a field of work and learning.

Graduates of a Diploma will have:

• Cognitive and communication skills to identify, analyse, synthesise and act on information from a range of sources
• Cognitive, technical and communication skills to analyse, plan, design and evaluate approaches to unpredictable problems and/or management requirements
• Specialist technical and creative skills to express ideas and perspectives
• Communication skills to transfer knowledge and specialised skills to others and demonstrate understanding of knowledge.

Graduates of a Diploma will demonstrate the application of knowledge and skills:

• With depth in some areas of specialisation, in known or changing contexts
• To transfer and apply theoretical concepts and/or technical and/or creative skills in a range of situations
• With personal responsibility and autonomy in performing complex technical operations with responsibility for own outputs in relation to broad parameters for quantity and quality
• With initiative and judgement to organise the work of self and others and plan, coordinate and evaluate the work of teams within broad but generally well-defined parameters.

On successful completion of this course, students will have gained valuable skills and knowledge to apply to a multitude of roles and industries, as well as establish a pathway to higher education. This qualification will provide you with a vast array of employment opportunities within the financial sector, including but not limited to the list below and provides opportunities for registration as a Tax or BAS agent with the Tax Practitioners Board:

• Accountant (General)
• Assistant Accountant
• Accounts Manager
• Accounts payable
• Accounts receivable officer
• Bookkeeper
• Budget Controller
• Executive Officer in Accounting
• Supervisor of Accounts Department
• Payroll service provider.

Education Pathway

Many students who complete the FNS50217 Diploma of Accounting continue on to complete the FNS60217 Advanced Diploma of Accounting. For participants who plan to continue onto the Advanced Diploma of Accounting, it is recommended to include some of the units as your Diploma electives. Examples are:

• FNSINC503 Identify situations requiring complex ethical decision making
• FNSINC504 Apply ethical frameworks and principles to make and act upon decisions

RPL is the process of recognising the experience and skills that a person has acquired throughout their career. The principles of RPL will be applied at all stages of your program. If existing competence is evident, it will be recognised and applied to expedite the completion of your program.

You will be provided with an opportunity to request RPL during your interview with your Assessor; however, RPL can be requested at any stage.

Online study offers complete flexibility affording students the ability to study anytime and anywhere that suits their schedule. The team of educators at My CPE are committed to supporting you through your chosen program and are keen to help you succeed.  All students have unlimited online access to their allocated Assessor during business hours. There are no requirements to attend any classes during this program.

If throughout your program you need assistance on study-related matters or student support-related matters, you can contact our office via your e-Learning portal. Our dedicated team are available to assist with any questions you may have in relation to:

• How to enrol in a course
• Payment options
• Terms and conditions
• Course curriculum
• RPL process
• Assessment processes
• Extensions and applicable fees
• Administration queries.

Assessments are structured to include a variety of styles to cater for the learning needs of a broad range of students and provide you with the best opportunity for success. Assessments are completed using a variety of methods and are submitted via our online student portal.

Assessment methods may include any combination of:

• Multiple choice questions
• Case Studies
• Examinations
• Written assessment tasks
• Practical tasks / Reports / Discussion
• Workplace simulations.

The Diploma is a big investment in your future, and there are many factors to consider prior to enrolling in any program.  Please download and read our Brochure, which contains pre-enrolment information, and consider booking a consultation with one of our experienced consultants for your free skills assessment.