This qualification reflects professional 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 FNS Financial Services Training Package Companion Volume Implementation Guide or 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.

Completion of the FNSSS00014 Accounting Principles Skill Set;

OR

Completion of FNS40217 Certificate IV in Accounting and Bookkeeping or equivalent; or its superseded versions (FNS40215 Certificate IV in Bookkeeping or FNS40615 Certificate IV in Accounting) or their equivalent.

Total number of units = 11

6 core units plus

5 elective units, of which:

• up to 5 may be from the elective units listed below
• up to 2 may be from a Certificate IV, Diploma or Advanced Diploma in any currently endorsed training package or accredited course, provided they do not duplicate the outcome of another unit chosen for the qualification.

Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, and contribute to a valid vocational outcome.

Core units

• FNSACC511 Provide financial and business performance information
• FNSACC512 Prepare tax documentation for individuals¹
• FNSACC513 Manage budgets and forecasts
• FNSACC514 Prepare financial reports for corporate entities*
• FNSACC516 Implement and maintain internal control procedures
• FNSACC517 Provide management accounting information

Elective units

• BSBLDR413 Lead effective workplace relationships
• BSBTEC402 Design and produce complex spreadsheets
• FNSACC408 Work effectively in the accounting and bookkeeping industry
• FNSACC505 Establish and maintain accounting information systems
• FNSACC601 Prepare and administer tax documentation for legal entities*¹
• FNSACC607 Evaluate business performance*
• FNSFMK515 Comply with financial services regulation and industry codes of practice
• FNSINC503 Identify situations requiring complex ethical decision making
• FNSINC504 Apply ethical frameworks and principles to make and act upon decisions
• FNSINC601 Apply economic principles to work in the financial services industry
• FNSINC602 Interpret and use financial statistics and tools
• FNSORG505 Prepare financial reports to meet statutory requirements
• FNSORG506 Prepare financial forecasts and projections
• FNSPAY501 Process salary packaging arrangements and additional allowances in payroll
• FNSPAY502 Process superannuation payments in payroll
• FNSPAY503 Process complex employee terminations in payroll
• FNSPAY504 Interpret and apply knowledge of industrial regulations relevant to payroll
• FNSPAY505 Interpret and apply knowledge of taxation systems relevant to payroll
• FNSTPB503 Apply legal principles in consumer and contract law²
• FNSTPB504 Apply legal principles in corporations and trust law²
• FNSTPB505 Apply legal principles in property law²
• FNSTPB506 Apply taxation requirements when providing tax (financial) advice services³
• FNSTPB507 Apply legal principles in commercial law when providing tax (financial) advice services³
• ¹ Unit included in the Tax Practitioners Board approved course in Australian taxation law: FNSSS00008 Taxation Law for Tax Agents Skill Set (Tax documentation).
• ² Unit included in the Tax Practitioners Board approved course in commercial law: FNSSS00005 Commercial Law for Tax Agents Skill Set.
• ³ Unit included in the Tax Practitioners Board approved course in commercial law for tax (financial) advisers: FNSSS00006 Commercial Law for Tax (Financial) Advisers Skill Set

*Note the following prerequisite unit requirements.