FNS60215 Advanced Diploma of Accounting

Release 2

FNS60215 Advanced Diploma of Accounting

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