FNS50222 Diploma of Accounting

Nationally Recognised Training

This qualification reflects 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, legislative, regulatory or certification considerations

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the relevant regulator for specific guidance on 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.

VET National Code


CRICOS Course Code



52 Weeks (incl. holidays and breaks)

Delivery Mode

The course is delivered face-to-face in classrooms with access to computer, printers, software, and access to all the equipment and resources identified in each unit of competency.

Tuition Fee


Enrolment Fee


Material Fee

For International and Local Students:

Academic requirements

Prospective BLC international students are required to demonstrate their capacity to complete the course successfully. International students applying for this qualification either off-shore or on-shore will need satisfactory completion of the equivalent of Australian Year 12 or equivalent.
Prior to commencing this qualification an individual must have completed the following units of competency (or equivalent).

FNSACC321 Process financial transactions and extract interim reports ;
FNSACC322 Administer subsidiary accounts and ledgers;
FNSACC418 Work effectively in the accounting and bookkeeping industry;
FNSACC421 Prepare financial reports (this unit is the equivalent version of BSBFIA401 Prepare financial reports).

These competencies may have been achieved through completion of the following (or their equivalent):

FNSSS00014 Accounting Principles Skill Set;

FNS40222 Certificate IV in Accounting and Bookkeeping;

Age requirements:

Be at least eighteen (18) years of age on the enrolment date

Language, Literacy and Numeracy test (LLN)

Candidates undertaking this course must possess sound Numeracy skills since they will be required to do calculations, make profit and loss statements, and prepare budget. If learners do not meet English and LLN requirements, learners will be asked to take further Language, literacy and numeracy training e.g. English Language Intensive Course for Overseas Learners (ELICOS) programs with BLC.

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 the BLC enrolment officer. The interview also aims to identify possible RPL opportunities.

Through pre-training review, students will demonstrate that they have the necessary skills to successfully complete the course.

English language requirements

To enrol into this course with Blue Lotus College, international students, applying either off-shore or on-shore, must satisfy one of the following requirements:

  • Either a minimum IELTS test score of 6 or equivalent for direct entry into a VET course;
  • or, IELTS score of 5.5 or equivalent with an ELICOS course (up to 10 weeks) to be taken before the main VET course;
  • or, IELTS score of 5.0 or equivalent with an ELICOS course (up to 20 weeks) to be taken before the main VET course.

Results more than two years old are not acceptable.


  • 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.


  • Evidence that, within two years of their application date, they have successfully completed in Australia and in the English language, either the senior secondary certificate of education or a substantial component of a course leading to a qualification from Australian Qualifications Framework at the Certificate IV or higher level, while they held a student visa.

Please note that Blue Lotus College will also accept equivalent test results from the following specified English Language Tests: TOEFL iBT, PTE Academic, Cambridge English: Advanced (CAE), and TOEFL PBT.

*On 26 July 2023 the TOEFL internet-based test (TOEFL iBT) stopped offering English language tests for Australian visa purposes. A score for a TOEFL iBT test taken on or after 26 July 2023 will no longer satisfy the English language requirement for Student visa purposes. Only TOEFL iBT scores from a test taken on or before 25 July 2023 are accepted for Student visa purposes.

**From 12 February 2024, only results from the paper-based Cambridge C1 Advanced test (previously known as Cambridge English: Advanced CAE) will be accepted for Australian visa and migration purposes. Test scores for both C1 Advanced paper-based and computer-based tests, taken before 12 February 2024, within the specified validity period are still accepted.

Basic Computing Skills

Student are required to have basic computer skills including operating MS-office. Learners who do not possess basic computing skills will be provided with digital support by BLC IT support officers.

Materials and Equipment Required

Although Blue Lotus College will provide access to computers/laptops with required resources during classroom hours however to work on assignments and tasks for selfstudy, 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, 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 7 core units and 4 elective units of competency to attain the Diploma of Accounting qualification.
Core Units
BSBTEC402 Design and produce complex spreadsheets
FNSACC521 Provide financial and business performance information
FNSACC527 Provide management accounting information
FNSACC526 Implement and maintain internal control procedures
FNSACC524 Prepare financial reports for corporate entities
FNSACC523 Manage budgets and forecasts
FNSACC522 Prepare tax documentation for individuals
Elective Units
BSBLDR413 Lead effective workplace relationships
FNSACC505 Establish and maintain accounting information systems
FNSACC411 Process business tax requirements
FNSACC413 Make decisions in a legal context

Note: Fees may change during your course of study. BLC reserves the right to discontinue or alter any course date, tuition or service fee, location, timetable or staffing without prior notice. This will constitute a provider default and all tuition fees will be handled in accordance with Blue Lotus College’s Refund Policy. Interest will not be credited to Student Fees or disbursements and therefore no interest will be recovered by students in the event of cancellation. Students must maintain valid Overseas Student Health Care insurance throughout their enrolment.
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 admissions@bluelotus.edu.au

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 admin@bluelotus.edu.au.