Qualification Description

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.

Entry Requirements

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

or 

• FNS40222 Certificate IV in Accounting and Bookkeeping.

Packaging Rules

Total number of units = 11

7 core units  plus

4 elective units , of which:

• at least 2 must be from the elective units listed below
• up to 2 may be from any currently endorsed Certificate IV or above training package qualification or accredited course.

Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, not duplicate the outcome of another unit chosen for the qualification, and contribute to a valid industry-supported vocational outcome.

Core units

BSBTEC402 Design and produce complex spreadsheets

FNSACC521 Provide financial and business performance information

FNSACC522 Prepare tax documentation for individuals

FNSACC523 Manage budgets and forecasts

FNSACC524 Prepare financial reports for corporate entities

FNSACC526 Implement and maintain internal control procedures

FNSACC527 Provide management accounting information

Elective units

BSBLDR413 Lead effective workplace relationships

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

FNSINC513 Identify and apply complex ethical decision making to workplace situations

FNSINC514 Apply ethical frameworks and principles to make and act upon decisions

FNSINC611 Apply economic principles to work in the financial services industry

FNSINC612 Interpret and use financial statistics and tools

FNSORG506 Prepare financial forecasts and projections

FNSORG515 Prepare financial reports to meet statutory requirements

FNSPAY511 Process salary packaging arrangements and additional allowances in payroll

FNSPAY512 Process superannuation payments in payroll

FNSPAY513 Process complex employee terminations in payroll

FNSPAY514 Interpret and apply knowledge of industrial regulations relevant to payroll

FNSPAY515 Interpret and apply knowledge of taxation systems relevant to payroll

FNSTPB503 Apply legal principles in contract and consumer law²

FNSTPB504 Apply legal principles in corporations and trust law²

FNSTPB505 Apply legal principles in property law²

FNSTPB516 Apply taxation requirements when providing tax (financial) advice services³

FNSTPB517 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 Superseded version of 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.