FNSSS00014 Accounting Principles Skill Set

Delve into the foundational principles of accounting!

Whether you’re starting your journey in the financial sector or looking to enhance your existing skills, this course offers the essential knowledge required to excel in accounting roles across various industries.

Through this course, you will become proficient in:

• Financial Reporting: Prepare and interpret financial statements, ensuring compliance with accounting standards.
• Bookkeeping Essentials: Manage financial records accurately, including ledgers, journals, and reconciliations.
• Taxation Fundamentals: Understand the basics of taxation laws and their application in different business contexts.
• Accounting Software Proficiency: Gain hands-on experience with industry-standard accounting software, streamlining financial processes.

Course Highlights

• Regulatory Compliance: Learn about the legal requirements in accounting and how to ensure organisational adherence.
• Ethical Practices: Explore the ethical considerations in financial reporting and decision-making.
• Analytical Skills: Develop the ability to analyse financial data, providing insights for strategic planning and performance improvement.

Start Anytime, Study Anywhere

With flexible, self-paced learning, you can enrol and start your course at any time, fitting studies around your current commitments. Flexible payment options are available.

Take the First Step Today!

Call us on +61 1300 783 283 to enrol and build a strong foundation in accounting principles. Your future awaits!

FNSSS00014 Accounting Principles Skill Set

Course Description

This skill set addresses the skills and knowledge required to apply accounting principles in accounting and bookkeeping job roles in a variety of industries which involve a range of analytical tasks.
Work functions in the occupational areas where this skill set may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
This course includes following 7 units of competency:

• 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
• FNSACC426  Set up and operate computerised accounting systems
• FNSTPB411  Complete business activity and instalment activity statements
• FNSTPB412  Establish and maintain payroll systems

Target Group

These units of competency from the FNS Financial Services Training Package meet industry requirements for individuals who apply accounting principles when performing a range of analytical tasks in a variety of industries.

Study Mode

Self-paced completed online in your own time, at your own pace.
This course is delivered using an asynchronous study methodology, utilising mainly online delivery (eLearning) of learning materials and assessment resources.
We provide our students ongoing support throughout the course duration via telephone, emails and/or virtual online meetings, on request.

Flexible Duration

Up to 9 months – Can be extended up to and no longer than 3 months depending on course progression.

Study Load

Self-Paced – Completion of one unit per month is recommended to ensure ongoing progression and completion within the course duration.

Start Date

Start anytime

Course Completion/Pathways

Students obtaining a ‘competent’ result for all units of competency will achieve the FNSSS00014 certificate.
The units of competency in this skill set provide credit towards the qualifications below and others that allow for selection of these units.

• FNS40222 Certificate IV in Accounting and Bookkeeping
• FNS50222 Diploma of Accounting

*Note: Australian College does not guarantee successful completion of the course nor guarantees a particular employment outcome on completion of the qualification.’

Career Opportunities

After completion of the FNSSS00014 Accounting Principles Skills Set course, graduates may consider registering as BAS agent or a registered tax agent if they meet the Tax Practitioners Board requirements.
Alternatively, they may continue their studies towards their Certificate IV in Accounting or the Diploma of Accounting.

If students apply to register as a BAS agent for the first time, they will need to meet theTPB’s requirements for registration, including the qualification requirements. Additional
requirements such as relevant experience and being a fit and proper person must also be met as part of the application process.

TPB may also accept previous versions of the units completed in this skill set, providing applicants can demonstrate knowledge of the Tax Agent Services Act 2009
(TASA), including the Code of Professional Conduct.
For more information on registering with the TPB visit their website here.

This course does not have mandatory entry requirements as outlined in the training package.
However, students entering this course may hold a qualification in bookkeeping or accounting at a Certificate III level issued by a Registered Training Organisation (RTO).

In addition to the above, Australian College has following admissions criteria:
– students must be minimum 18 years of age
– complete the pre-enrolment process including the Language, Literacy and Numeracy test
– depending on the unit, students may be required to interact with actual or simulated team members, clients and staff and may be required to participate in audio/video-recorded role-plays with others
– obtain and provide their Unique Student Identifier (USI) and provide it to Australian College. Information on how to obtain a USI can be found here.
– agree to comply with Australian College policies and procedures as published on the website and outlined in the Student Handbook
-pay all fees as outlined in the Enrolment Terms and Conditions

Students must have access to and be able to operate:
– an internet-enabled PC/laptop or similar running a current operating system (eg Windows 10 or Mac OSX)
– an audio/video recording device (such as mobile phone) for the purpose of preparing audio/video assessment recordings
– Microsoft Office (or compatible software)
– have the ability to access/install trial versions or licenced accounting software such as MYOB
– current web browser
– Adobe Acrobat Reader or another PDF document viewer
– valid email address
– independent supervisor

Important! Students must have access to a real workplace such as an accounting firm as well as access to a supervisor as outlined on the Tax Practitioners Board website here.

Overseas Students Policy
This course is not available to students on an Overseas Student Visa.

As defined in the ESOS Act 2000, Overseas students are not eligible to apply to enrol in this nationally recognised course, nor are they eligible for certification. Please refer to the Enrolment Terms and Conditions.

This course is delivered using an asynchronous study methodology, utilising mainly online delivery (eLearning) of training materials supported with emails and phone calls with the trainer and assessor, on request.

Self-paced completed online in your own time, at your own pace. We provide our students ongoing support throughout the course duration via telephone, emails and/or virtual online meetings. It is recommended that students have access to a real warehouse work environment to be able to practice their skills while learning and completing assessment tasks which may require warehouse specific equipment and tools.

*Note: It is the student’s responsibility to organise their own access to a real work specific environment for the course.

Assessments

Assessments are mainly conducted online and include written tasks, knowledge questions, projects and practical demonstrations.

 The assessments for the following units require independent supervision as outlined below:

• FNSTPB411 Complete business activity and instalment activity statements
• FNSTPB412 Establish and maintain payroll systems

At least 40% of the assessment tasks will be supervised by an independent supervisor

as outlined in the ‘Independent Supervisor Checklist and Declaration Form’ provided by

Australian College to the Students in the Assessment Information.

To complete assessments, students must have access to:

– office equipment, technology, software and consumables

– an integrated financial software system such as MYOB

– workplace reference materials such as procedural manuals and company policies

– actual or simulated payroll data

– relevant legislation and industry materials

– ATO and TPB materials available, including access through the internet

– access to an independent supervisor

To ensure we gather all types of evidence as required by the training package and unit requirements, various assessment methods are being used to assess the student’s competencies.

Following are assessment methods used for this qualification:

• Knowledge/Theory based assessment consisting of questions and answers
• Case Studies – includes analysis of case studies and answering questions
• Projects – depending on the unit, projects may have to be completed in a simulated environment or in a real workplace
• Workplace practical activities and observations, including role-plays
• Third Party Reports
• Portfolio Builder

Please note that some of the practical activities must be demonstrated in a simulated work environment and will have to be video recorded and submitted via Australian College LMS for marking.

This qualification does not require mandatory work placement.

However, Australian College recommends students to have access to work in a bookkeeping or accounting business to be able to practice and complete assessment tasks for this course.

During their work experience students will perform tasks as outlined in each unit of competency.

 Please note: Students must complete at least 40% of their assessments under some form of independent supervision as outlined on the Tax Practitioners Board website here.

For more information on work experience, please contact the College via email at: [email protected]

RPL and Credit Transfer is available for all students to consider. Students will be provided with information about RPL and Credit Transfer prior to enrolment. Australian College will recognise the AQF qualifications and statements of attainment issued by other RTO’s, upon verification with the issuing organisation.

For more information on RPL and Credit Transfer email us at [email protected]

Course Fees – $995

PAYMENT OPTION 1 – Full payment
PAYMENT OPTION 2 – Pay with Zip Money