FNS50217 – Diploma of Accounting
This Diploma of Accounting qualification reflects professional accounting job roles in financial services and other industries. Students completing this course will be will be qualified to work in the in a range of accounting roles including accounts payable, accounts receivable officers, payroll officer, Book Keeper, Assistant Accountant, Graduate Accountants 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.
Work functions in the occupational areas where this Diploma of Accounting qualification may be used are subject to regulatory requirements. Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on requirements.
This Diploma of Accounting 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. This Diploma of Accounting qualification, or any of the competencies in this Diploma of Accounting course, does not provide an automatic right to work as an accountant, BAS agent or any other financial service provider.
Appropriate registration/license from the relevant authorities must be obtained.
Note: Due to COVID – 19, all classes at Blue Lotus College are being delivered 100 % Virtual class effective from Tuesday 24th March 2020 via Microsoft teams. We will closely monitor the situation and notify the date for the face to face delivery to be resumed.
|Name||Course Start Date||Course End Dates|
|For International and Local Students:
Satisfactory completion of the equivalent of an Australian Year 12 or Certificate IV or higher conducted in English
Entry requirements as listed in the Training Package (prerequisite):
Completion of the FNSSS00014 Accounting Principles Skill Set;
Completion of FNS40615 Certificate IV in Accounting or equivalent;
·Completion of FNS40215 Certificate IV in Bookkeeping or equivalent.
Be at least eighteen (18) year of age on enrolment date
Language, Literacy and Numeracy test (LLN)
Satisfactory LLN levels – at least Year 12 English and Maths
All students are required to undertake a language, literacy and numeracy (LLN) test mapped at ACSF level 5 conducted by Blue Lotus College (BLC).
Candidates undertaking this Diploma of Accounting course must possess sound Numeracy skills, since it requires them to do calculations, make reports and graphs.
All students will undertake pre-training review which aims to identify their training needs through questions on previous education or training, basic computing skills and interview conducted by BLC enrolment officer.
The interview also aims to identify possible RPL opportunities.
Through pre-training review students will demonstrate that they have necessary skills to successfully complete the Diploma of Accounting course.
To enrol for our Diploma of Accounting in Melbourne, international students, applying either off-shore or on-shore, must satisfy one of the following requirements:
I. Either a minimum IELTS (General) test score of 5.5 or equivalent for direct entry into a VET course;
or, IELTS score of 5.0 or equivalent with and ELICOS course (up to 20 weeks) to be taken before the main VET course.
or, IELTS score of 4.5 or equivalent with an ELICOS course (up to 30 weeks) to be taken before the main VET course.
Results more than two years old are not acceptable.
II. Evidence that they have studied in English for at least five years in Australia, Canada, New Zealand, Republic of Ireland, South Africa, United Kingdom or United States.
III. Evidence that, within two years of their application date, they have successfully completed in Australia a foundation course or a senior secondary certificate of education or a substantial part of a Certificate IV or higher level qualification, from the Australian Qualifications Framework.
IV. Successful completion of Language, Literacy and Numeracy Test conducted by BLC.
Basic Computing Skills
Student are required to have basic computer skills including operating MS-word and doing research on internet since this Diploma of Accounting course will require student to make reports in MS word, Excel, power point presentation and operating accounting software, e.g. Xero or MYOB.
Materials and Equipment Required
Although Blue Lotus will provide access to computers/laptops with required resources during classroom hours to work on assignments and tasks for self-study, all learners are expected to bring a laptop with the Windows 7 operating system or higher. Students must have an active email address for communication and be contactable by phone (mobile or landline) and by mail (postal address).
All learners are expected to have access to MS office application such as Microsoft Word, an email platform such as Microsoft.
Students who complete this course will typically be able to perform professional accounting job roles in financial services and other industries e.g. as Tax agent if completed other law units required to meet TPB requirements, accounts payable team leader or payroll team leader etc. BLC does not do any misleading claim or job guarantee or advertise any employment outcome with its courses.
Students will need to complete total 11 Units which include 6 core unit and 5 elective units of competency to attain the Diploma of Accounting qualification.
|Unit Code||Unit Title|
|1||FNSACC516||Implement and maintain internal control procedures|
|2||FNSACC517||Provide management accounting information|
|3||FNSACC514||Prepare financial reports for corporate entities*|
|4||FNSACC511||Provide financial and business performance information|
|5||FNSACC512||Prepare tax documentation for individuals1|
|6||FNSACC513||Manage budgets and forecasts|
|7||FNSORG506||Prepare financial forecasts and projections|
|8||FNSINC601||Apply economic principles to work in the financial services industry|
|9||FNSINC602||Interpret and use financial statistics and tools|
|10||FNSACC607||Evaluate business performance*|
|11||FNSACC601||Prepare and administer tax documentation for legal entities*1|
1 Unit included in the Tax Practitioners Board approved course in Australian taxation law: FNSSS00008 Taxation Law for Tax Agents Skill Set (Tax documentation)
|Unit in this qualification||Prerequisite unit|
|FNSACC514 Prepare financial reports for corporate entities||BSBFIA401 Prepare financial reports|
|FNSACC311 Process financial transactions and extract interim reports|
|FNSACC607 Evaluate business performance||FNSACC501/FNSACC511 Provide financial and business performance information|
|FNSACC601 Prepare and administer tax documentation for legal entities||FNSACC502/FNSACC512 Prepare tax documentation for individuals|