Qualification details

FNS60215 - Advanced Diploma of Accounting (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 22/Apr/2015
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes FNS60210 - Advanced Diploma of AccountingUpdated to meet Standards for Training Packages. Entry requirements removed. Prerequisite units updated. Packaging rules updated. Ten elective units added to address prerequisite requirements. 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
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 Elective
FNSACC502 - Prepare tax documentation for individualsPrepare tax documentation for individuals Elective
FNSACC504 - Prepare financial reports for corporate entitiesPrepare financial reports for corporate entities Elective
FNSACC506 - Implement and maintain internal control proceduresImplement and maintain internal control procedures Elective
FNSACC507 - Provide management accounting informationProvide management accounting information Elective
FNSACC601 - Prepare and administer tax documentation for legal entitiesPrepare and administer tax documentation for legal entities Elective
FNSACC602 - Audit and report on financial systems and recordsAudit and report on financial systems and records Elective
FNSACC603 - Implement tax plans and evaluate tax obligationsImplement tax plans and evaluate tax obligations Elective
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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 411 Advanced 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 411 Advanced Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

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 is designed to reflect the role of individuals working in accounting and seeking professional identification. At this level individuals are expected to apply theoretical and technical skills in a range of situations and to display initiative and judgement in planning activities. They have autonomy in performing complex operations and can be responsible for planning, coordinating and evaluating the work of others within broad but generally well-defined parameters.

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 = 14 

3 core units  plus

11 elective  units

The elective units consist of:

  • 5 from the elective group below.

Of the remaining 6 units:

  • up to 6 may be from the electives
  • up to 6 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 

FNSACC604 Monitor corporate governance activities

FNSINC601 Apply economic principles to work in the financial services industry

FNSINC602 Interpret and use financial statistics and tools

Elective Units 

BSBFIA401 Prepare financial reports

FNSACC301 Process financial transactions and extract interim reports

FNSACC501 Provide financial and business performance information

FNSACC502 Prepare tax documentation for individuals**

FNSACC504* Prepare financial reports for corporate entities

FNSACC506 Implement and maintain internal control procedures

FNSACC507 Provide management accounting information

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

FNSACC602* Audit and report on financial systems and records

FNSACC603* Implement tax plans and evaluate tax obligations**

FNSACC605 Implement organisational improvement programs

FNSACC606* Conduct internal audit

FNSACC608* Evaluate organisation’s financial performance

FNSACC609* Evaluate financial risk

FNSACC610* Develop and implement financial strategies

FNSACC611 Implement an insolvency program

FNSACC612 Implement reconstruction plan

FNSACC613* Prepare and analyse management accounting information

FNSACC614* Prepare complex corporate financial reports

FNSFMK505 Comply with financial services legislation and industry codes of practice

FNSORG602 Develop and manage financial systems

FNSRSK602 Determine and manage risk exposure strategies

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

FNSACC602 Audit and report on financial systems and records

FNSACC506 Implement and maintain internal control procedures

FNSACC603 Implement tax plans and evaluate tax compliance

FNSACC502 Prepare tax documentation for individuals

FNSACC606 Conduct internal audit

FNSACC506 Implement and maintain internal control procedures

FNSACC608 Evaluate organisation’s financial performance

FNSACC501 Provide financial and business performance information

FNSACC609 Evaluate financial risk

FNSACC501 Provide financial and business performance information

FNSACC610 Develop and implement financial strategies

FNSACC501 Provide financial and business performance information

FNSACC613 Prepare and analyse management accounting information

FNSACC507 Provide management accounting information

FNSACC614 Prepare complex corporate financial reports

FNSACC504 Prepare financial reports for corporate entities

** 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

FNSSS00009 Taxation law for tax agents Skill Set (Tax plans) - FNSACC502 and FNSACC603

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

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS60215 Advanced Diploma of Accounting

FNS60210 Advanced Diploma of Accounting

Updated to meet Standards for Training Packages. Entry requirements removed. Prerequisite units updated. Packaging rules updated. Ten elective units added to address prerequisite requirements.

No equivalent qualification

Links

Companion volumes available from the IBSA website: http://www.ibsa.org.au/companion_volumes - http://www.ibsa.org.au/companion_volumes

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