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Diploma of Accounting

Course Name: Diploma of Accounting

Provider: Foundation Education

Level: Diploma

Delivery Method: Online

Course Overview

If you’ve got a head for numbers and a talent for budgets, bank account management and bookkeeping, consider a future in finance with the Diploma of Accounting.

Designed for those seeking long-term careers in the accounting world, this Diploma will teach you the most effective communication, management and leadership skills needed to succeed in the financial sector. During your course, you will learn the more advanced practices of accounting, including how to prepare financial and business reports for both corporate entities and management, maintain accounting systems, process financial transactions and extract interim reports.

Once obtained, this qualification will equip you with the skills to undertake work as a financial services provider within small, medium and large accounting practices and corporations and you’ll be qualified to provide high-level management accounting information to both colleagues and clients.

Diploma of Accounting students have up to 12 months to complete their studies.

Career Outcomes

Once you’ve completed your Diploma of Accounting, you’ll be able to apply solutions to a range of often complex financial problems and analyse and evaluate information from a variety of sources. You’ll be able to apply your initiative to plan, coordinate and evaluate your own work and offer guidance to other team members.

You could also gain employment as a:

  • Assistant Accountant
  • Finance Sector Supervisor

Some of these occupations may be new for you or they could be areas for advancement in your existing employment.

Core Subjects

FNSACC501 Provide financial and business performance information

This unit describes the skills and knowledge required to analyse and report on a broad range of financial and business performance information and encompasses assessing clients’ needs, analysing data and preparing advice. It applies to individuals who, within their level of authority, apply specialised knowledge, systematic approaches and analytical techniques to research and prepare customised information for clients.

FNSACC503 Manage budgets and forecasts

This unit describes the skills and knowledge required to prepare, document and manage budgets and forecasts, and encompasses forecasting estimates and monitoring budgeted outcomes. It applies to individuals who use specialised knowledge and analytical skills to prepare and manage strategic organisational information.

*FNSACC504 Prepare financial reports for corporate entities

This unit describes the skills and knowledge required to prepare financial reports for a reporting entity and encompasses compiling and analysing data and meeting statutory reporting requirements. It applies to individuals who use specialised knowledge and analytical skills to prepare financial reports that meet specific compliance requirements. *More specific research requirements apply for Taxation Practitioner Board (TPB).

*FNSACC502 Prepare tax documentation for individuals

This unit describes the skills and knowledge required to prepare non-complex income tax returns for individuals in accordance with statutory requirements, and encompasses gathering and verifying data, calculating taxable income and reviewing compliance requirements. It applies to individuals who use systematic approaches and follow specific guidelines to ensure compliance requirements are met. *More specific research requirements apply for Taxation Practitioner Board (TPB).

FNSACC506 Implement and maintain internal control procedures

This unit describes the skills and knowledge required to review corporate governance requirements, implement operating procedures and monitor policy. It applies to individuals who use specialised knowledge and analytical skills to ensure organisational policy, compliance and quality requirements are met.

FNSACC507 Provide management accounting information

This unit describes the skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports and review costing systems integrity to calculate and record the costs of products and services. It applies to individuals who use specialised knowledge and analytical skills to manage complex financial data and develop comprehensive organisational reports.

Elective Subjects

BSBWOR501 Manage personal work priorities and professional development

This unit describes the skills and knowledge required to create systems and process to organise information and prioritise tasks. It applies to individuals working in managerial positions who have excellent organisational skills. The work ethic of individuals in this role has a significant impact on the work culture and patterns of behaviour of others as managers at this level are role models in their work environment.

BSBFIA401 Prepare financial reports

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports. It applies to individuals employed in a range of work environments who are responsible for preparing financial reports. They may be individuals providing administrative support within an enterprise, or they might have responsibility for these tasks in relation to their own workgroup or role.

BSBADM506 Manage business document design and development

This unit describes the skills and knowledge required to establish standards for the design and production of organisational documents and to manage document design and production processes to ensure agreed standards are met. It applies to individuals employed in a range of work environments who require well-developed skills in the use of a range of software packages. They use these skills to establish, document and implement consistent standards of document design within an organisation.

BSBITU402 Develop and use complex spreadsheets

This unit describes the skills and knowledge required to use spreadsheet software to complete business tasks and produce complex documents. It applies to individuals employed in a range of work environments who require skills in creation of complex spreadsheets to store and retrieve data. They may work as individuals providing administrative support within an enterprise, or may be independently responsible for designing and working with spreadsheets relevant to their own work roles.

FNSACC301 Process financial transactions and extract interim reports

This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journals to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports. It applies to individuals who use specialised knowledge and follow agreed processes to carefully check and process detailed financial information to ensure standards are maintained.

Entry Requirements

Before a student can undertake the unit FNSACC504 Prepare Financial Reports for Corporate Entitites, they should have completed and been assessed as competent in the following two units:

  • BSBFIA401 Prepare financial reports
  • FNSACC301 Process financial transactions and extract interim reports

This qualification also includes units that comprise an approved Tax Practitioner Board (TPB) course in Australian taxation law and commercial law. Persons seeking registration with the TPB should check current registration requirements via their website.

It is recommended that individuals have undertaken lower level qualifications (i.e. Certificate IV in Accounting) and/or have gained industry experience to assist with the completion of this course. In addition, students must have:

  • computer literacy skills
  • access to a computer, the Internet and an active email address
  • the required language, literacy and numeracy skills of Diploma level
  • capacity to complete the assessment items within the required timeframes

Other entry requirements may be requested if you choose to access VET FEE-HELP* through our partner Registered Training Organisation, the Australian Institute of Personal Trainers (RTO ID: 32363)#.

* VET FEE-HELP is an Australian Government Student Loan Scheme, which can be used to help you pay for your tuition fees. Eligibility criteria apply.

# If you enrol in a Diploma course with VET FEE-HELP you will automatically become a student of the Australian Institute of Personal Trainers and are subject to their Terms and Conditions.

Recognition of Prior Learning

Given that some students may already be able to demonstrate their competence in some units, a recognition of prior learning (RPL) assessment process may be available to students to recognise skills and knowledge that may have been gained through formal and informal training and/or learning, work experience and life experience.

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