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FNS50217 – Diploma of Accounting

Nationally Recognised Training

This  Diploma of Accounting Courses qualification reflects professional accounting job roles in financial services and other industries. Students completing this course will be qualified to work in a range of accounting roles including accounts payable, accounts receivable officers, payroll officers, Book Keeper, Assistant Accountants, and Graduate Accountants 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.

Licensing/Regulatory Information 

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. For Online Accounting Diploma Classes Visit our Online domain.

VET National Code
CRICOS Course Code
52 Weeks (incl. holidays and breaks)
Delivery Mode

Face to Face, on-campus

Tuition Fee
Enrolment Fee
Material Fee
Work Based Training
For International and Local Students:

Academic requirements

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.

Age requirements:

Be at least eighteen (18) years of age on the 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, and make reports and graphs.

Pre-training Review

All students will undertake a 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 the pre-training review, students will demonstrate that they have the necessary skills to successfully complete the Diploma of Accounting course.

English language requirements (International Students)

To enroll 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, an IELTS score of 5.0 or equivalent with an ELICOS course (up to 20 weeks) to be taken before the main VET course.

or, an 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, the Republic of Ireland, South Africa, the United Kingdom, or the 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 the Language, Literacy, and Numeracy Test conducted by BLC.

Basic Computing Skills

Students are required to have basic computer skills including operating MS-word and doing research on the internet since this Diploma of Accounting course will require students to make reports in MS word, Excel, PowerPoint presentations, 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 applications such as Microsoft Word, and 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 claims or job guarantees or advertise any employment outcome with its courses.

Students will need to complete a total of 11 Units which include 6 core units and 5 elective units of competency to attain the Diploma of Accounting qualification.
Unit Code Unit Title
Core Units
FNSACC516 Implement and maintain internal control procedures
FNSACC517 Provide management accounting information
FNSACC514 Prepare financial reports for corporate entities*
4 FNSACC511 Provide financial and business performance information
FNSACC512 Prepare tax documentation for individuals1
FNSACC513 Manage budgets and forecasts
Elective Units
FNSORG506 Prepare financial forecasts and projections
FNSINC601 Apply economic principles to work in the financial services industry
FNSINC602 Interpret and use financial statistics and tools
FNSACC607 Evaluate business performance*
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

To find out the methods of application, visit How to apply page
If you have a query about how to apply or entry requirements, contact

Enrol in a Course for Interactive Accounting in Melbourne Today

If you would like more information about the Diploma of Accounting our Melbourne college offers, contact Blue Lotus College by calling (03) 9349 2513 or sending an email to