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Certificate IV in Accounting

Course Name: Certificate IV in Accounting

Provider: Monarch Institute

Level: Certificate IV

Delivery Method: Online

Course Overview

Whether you are considering this course to successfully land your first job in this exciting industry, start your own business, improve your existing job role or simply round out your skill set, our FNS40615 Certificate IV in Accounting is the pathway to achieving your goals.

Monarch Institute is an industry leader in the provision of Accounting training. The quality of our trainers and course materials are quite simply the reason you should choose us! Our trainers and course developers successfully work in the Accounting industry meaning you are learning from experts that walk the walk, and have a genuine passion for sharing and imparting their ‘real world’ knowledge and skills.

Our FNS40615 Certificate IV in Accounting provides a pathway into an exciting career as a Registered BAS Agent. Our qualification meets the education standards prescribed by the Tax Practitioner’s Board and is recognised by leading Associations in Australia. Every Australian person that earns minimum income thresholds is required to lodge tax returns and maintain appropriate records, as are small, medium and large businesses. As you might imagine, the provision of accounting services and tax advice is a growing area and Monarch’s FNS40215 Certificate IV in Accounting equips you with the technical skills and knowledge to succeed in this exciting industry.

Course Modules

Module 1 - Accounting Principles and Practice (Part 1)

  • Understanding basic accounting principles
  • The difference between accrual accounting and cash accounting
  • Cash and credit journals
  • Source documents and GST
  • General journals
  • Double entry accounting
  • Posting to ledger accounts
  • Creating a trial balance
  • Debtors and creditors and subsidiary ledgers

Module 2 - Accounting Principles and Practice (Part 2)

  • Prepare business activity statements (BAS)
  • Controls over cash and petty cash payments
  • Bank reconciliations
  • Managing a payroll system
  • Maintaining inventory records
  • Depreciation methods
  • Disposal of non-current assets
  • Balance day adjustments
  • Preparation of financial statements

Module 3 - Accounting Applications (MYOB or XERO)

  • From source documents to financial statement preparation
  • Set up a computerised accounting system
  • Processing accounting transactions using MYOB or Xero
  • Generate financial reports using MYOB or Xero

Module 4 - Accounting Professional Practice

  • Principles of professional practice
  • Taxation basics
  • Industry legislative and regulatory guidelines
  • Organisational procedure and system development
  • Professional conduct and ethics within an organisation
  • Professional development through planning and teamwork
  • Sustainability issues in the financial services industry
  • Preparation of operational budgets

Duration

Is there a maximum course completion time?

Yes – you have up to 2 years to complete the qualification, and many complete it in less time. 

We find our students complete the FNS40615 Certificate IV in Accounting in varying time frames. It really does depend on your life situation, and time availability. There is also a requirement that you complete each module within 6 months (i.e. 4 modules times 6 months = 2 years maximum).

Is there a minimum course completion time?

No – there is no minimum course time-frame. 

Students can complete the qualification as quickly as they choose.

What is the average course completion time-frame?

Volume of learning: We have found students that are genuinely motivated to progress through the course are able to complete the full course in as little as 9 months. Other students that have no experience or understanding of key concepts in Bookkeeping and Accounting take closer to 2 years. The key factors that influence course completion is a student’s experience, time availability and work rate.

Career Opportunities

Accounting – a growing industry

The accounting industry is an exciting industry experiencing considerable growth, with many rewarding career opportunities. Successful completion of this course can lead to a variety of careers, including working as an accountant in a small, medium or large accounting practice or commercial business, working in a bank or financial services firm, or as a registered BAS agent (as an employee or business owner) subject to meeting the conditions set out by the Tax Practitioners Board. Other roles include responsibility for the preparation of financial statements, tax returns and analysis of the financial health of any business (financial officers) including accounts receivable and/or payable, as well as roles responsible for procurement.

What job roles exist?

  • BAS Agent
  • Bookkeeper
  • Accountant
  • Bookkeeping and small practice accounting
  • Assistant accountant
  • Accounts officer/clerk
  • Payroll officer/clerk
  • Accounts receivable credit/controller
  • Financial controller (small to medium businesses)
  • Taxation officer
  • Treasury officer
  • Procurement officer
  • Analyst (financial reporting focus)

Study Pathways

Recognition of prior learning

Monarch Institute recognises Recognition of Prior Learning (RPL) which takes into account the knowledge and skills you have already gained through your previous education and work history, attributing this to your Certificate IV in Accounting. This may be through formal or informal training and can result in credits towards your qualification. More information about RPL is contained in Monarch’s Student Information Guide

What can I study next?

You can enrol in the Diploma of Accounting with Monarch Institute as a study pathway, after successfully completing the Certificate IV in Accounting.

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