Modification History
Release |
Comments |
Release 2 |
This version first released with FNS Financial Services Training Package Version 3.1. Minor updates to elective unit list |
Release 1 |
This version first released with FNS Financial Services Training Package Version 3.0. |
Qualification Description
This qualification reflects the role of individuals working in accounting and seeking professional recognition, including tax agents, accounts managers and business analysts; and to employees performing a range of accounts management tasks for organisations in a range of industries. 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 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.
Entry Requirements
Completion of both FNSSS00014 Accounting Principles Skill Set and FNSSS00015 Advanced Accounting Principles Skill Set;
OR
Completion of FNS50215 Diploma of Accounting;
OR
Completion of FNS50217 Diploma of Accounting.
Packaging Rules
Total number of units = 14
3 core units plus
11 elective units
The elective units must be relevant to the work environment and the qualification, maintain the integrity of the AQF alignment, and contribute to a valid industry-supported vocational outcome, and are to be chosen as follows:
- all 11 units may be chosen from the elective units listed below
- up to 6 units 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.
Core Units
FNSACC624 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
FNSACC601 Prepare and administer tax documentation for legal entities*1
FNSACC602 Audit and report on financial systems and records*
FNSACC603 Implement tax plans and evaluate tax obligations*1
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
FNSINC503 Identify situations requiring complex ethical decision making
FNSINC504 Apply ethical frameworks and principles to make and act upon decisions
FNSORG602 Develop and manage financial systems
FNSRSK602 Determine and manage risk exposure strategies
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
FNSTPB506 Apply taxation requirements when providing tax (financial) advice services3
FNSTPB507 Apply legal principles in commercial law when providing tax (financial) advice services3
*Note the following prerequisite unit requirements.
Unit in this qualification |
Prerequisite unit |
FNSACC601 Prepare and administer tax documentation for legal entities |
FNSACC512 Prepare tax documentation for individuals |
FNSACC602 Audit and report on financial systems and records |
FNSACC516 Implement and maintain internal control procedures |
FNSACC603 Implement tax plans and evaluate tax compliance |
FNSACC512 Prepare tax documentation for individuals |
FNSACC606 Conduct internal audit |
FNSACC516 Implement and maintain internal control procedures |
FNSACC608 Evaluate organisation’s financial performance |
FNSACC511 Provide financial and business performance information |
FNSACC609 Evaluate financial risk |
FNSACC511 Provide financial and business performance information |
FNSACC610 Develop and implement financial strategies |
FNSACC511 Provide financial and business performance information |
FNSACC613 Prepare and analyse management accounting information |
FNSACC517 Provide management accounting information |
FNSACC614 Prepare complex corporate financial reports |
FNSACC514 Prepare financial reports for corporate entities |
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
Qualification Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNS60217 Advanced Diploma of Accounting |
FNS60215 Advanced Diploma of Accounting |
Updates to elective unit list. |
No equivalent qualification. |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe