Qualification details

FNS50215 - Diploma of Accounting (Release 3)

Summary

Releases:
ReleaseStatusRelease date
3 (this release)Current 14/Jan/2016
(View details for release 2) Replaced22/Apr/2015
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes FNS50210 - Diploma of AccountingUpdated to meet Standards for Training Packages. Entry requirements removed. Pre-requisite units updated Packaging rules updated with additional elective units. Number of core units increase from nine to 11. 24/Mar/2015


Training packages that include this qualification

Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssential
BSBFIA401 - Prepare financial reportsPrepare financial reports Elective
BSBITU402 - Develop and use complex spreadsheetsDevelop and use complex spreadsheets Elective
BSBLDR402 - Lead effective workplace relationshipsLead effective workplace relationships Elective
FNSACC301 - Process financial transactions and extract interim reportsProcess financial transactions and extract interim reports Elective
FNSACC501 - Provide financial and business performance informationProvide financial and business performance information Core
FNSACC502 - Prepare tax documentation for individualsPrepare tax documentation for individuals Core
FNSACC503 - Manage budgets and forecastsManage budgets and forecasts Core
FNSACC504 - Prepare financial reports for corporate entitiesPrepare financial reports for corporate entities Core
FNSACC505 - Establish and maintain accounting information systemsEstablish and maintain accounting information systems Elective
FNSACC506 - Implement and maintain internal control proceduresImplement and maintain internal control procedures Core
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 221111 Accountant (General) 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 
Qualification/Course Level of Education Identifier 421 Diploma 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 221111 Accountant (General) 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 30/Jul/2015 
Qualification/Course Level of Education Identifier 421 Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

Release 3

This version released with FNS Financial Services Training Package version 2.0

Release 3 created to correct typographical error

Release 2

This version released with FNS Financial Services Training Package version 1.1

Release 2 created to correct typographical error

Release 1

This Qualification first released with FNS Financial Services Training Package version 1.0

Qualification Description

This qualification reflects professional accounting job roles in financial services and other 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 guidance to others within defined guidelines.

Licensing/Regulatory Information

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume 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. Persons seeking registration with the TPB should check current registration requirements with the Board.

Entry Requirements

Nil

Packaging Rules

Total number of units = 11 

6 core units  plus

5 elective  units

The elective units consist of:

  • 3 from the electives below.

Of the remaining 2 units:

  • up to 2 may be from the electives
  • up to 2 may be from Certificate IV, Diploma or Advanced Diploma in any currently endorsed training package or accredited course.

The elective units chosen must be relevant to the work outcome and meet local industry needs.

Core Units 

FNSACC501 Provide financial and business performance information

FNSACC502 Prepare tax documentation for individuals**

FNSACC503 Manage budgets and forecasts

FNSACC504* Prepare financial reports for corporate entities

FNSACC506 Implement and maintain internal control procedures

FNSACC507 Provide management accounting information

Elective Units 

BSBFIA401 Prepare financial reports

BSBITU402 Develop and use complex spreadsheets

BSBLDR402 Lead effective workplace relationships

FNSACC301 Process financial transactions and extract interim reports

FNSACC505 Establish and maintain accounting information systems

FNSACC601* Prepare and administer tax documentation for legal entities**

FNSACC607* Evaluate business performance

FNSFMK505 Comply with financial services legislation and industry codes of practice

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

FNSTPB503 Apply legal principles in consumer and contract law***

FNSTPB504 Apply legal principles in corporations and trusts law***

FNSTPB505 Apply legal principles in property law***

*Note the following prerequisite unit requirements:

Unit in this qualification

Prerequisite unit

FNSACC504 Prepare financial reports for corporate entities

BSBFIA401 Prepare financial reports

FNSACC301 Process financial transactions and extract interim reports

FNSACC601 Prepare and administer tax documentation for legal entities

FNSACC502 Prepare tax documentation for individuals

FNSACC607 Evaluate business performance

FNSACC501 Provide financial and business performance information

** Units included in the Tax Practitioners Board approved course in Australian taxation law:

FNSSS00008 Taxation law for tax agents Skill Set (Tax documentation) - FNSACC502 and FNSACC601

*** Units included in the Tax Practitioners Board approved course in commercial law: FNSSS00005 Commercial law for tax agent Skill Set

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS50215 Diploma of Accounting (Release 3)

FNS50215 Diploma of Accounting (Release 2)

Updated typographical error

Equivalent qualification

Links

Companion volumes are available from the IBSA website: http://www.ibsa.org.au/companion_volumes - http://companion_volumes.vetnet.education.gov.au/Pages/TrainingPackage.aspx?pid=15

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