FNS40610 Certificate IV in Accounting

Revision Number: 1

FNS40610 Certificate IV in Accounting

Modification History

Not applicable.

Description

This qualification reflects accounting job roles in financial services and other industries requiring accounting support functions.

Persons providing a BAS service for a fee or other reward (other than employees) must be registered by the Tax Practitioners Board (TPB).

A Business Activity Statement (BAS) service is a tax agent service that relates to:

ascertaining liabilities, obligations or entitlements of an entity that arises, or could arise, under a BAS provision; or

advising an entity about liabilities, obligations or entitlements of the entity or another entity that arise, or could arise, in their dealings with the Commissioner in relation to a BAS provision; and

representing an entity in their dealings with the Commissioner of Taxation; and

is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes:

to satisfy liabilities or obligations that arise, or could arise, under a BAS provision;

to claim entitlements that arise, or could arise, under a BAS provision;

To claim entitlements that arise, or could arise, under a BAS provision.

where it is reasonable to expect an entity to rely on the service for either or both of the following purposes:

1.	To satisfy liabilities or obligations that arise or could arise under a BAS provision;

2.	to claim entitlements that arise or could arise under a BAS provision.

This qualification is currently cited as meeting some of the educational requirements for registration (see Packaging Rules). Other conditions apply, including a designated period of experience. Persons seeking BAS agent registration should check current registration requirements with the TPB as this is regularly under review.

More information and contact details for the TPB are provided in the FNS10 Information Kit available from the IBSA website.

Pathways Information

Qualification Pathway

Preferred pathways for candidates entering this qualification include:

FNS30310 Certificate III in Accounts Administration

The primary pathway from this qualification is employment in accounting job roles with duties such as:

completing Business Activity Statements (BAS) and other office taxes

operational reporting

producing non-complex management reports including compiling budget information

compiling data for job costing reports

supervising the operation of computer-based financial systems

classifying, recording and reporting accounting information

maintaining inventory records

managing a small office

ensuring relevant legal requirements are adhered to.

This qualification may be suited to an Australian Apprenticeship pathway.

A further learning pathway utilising qualifications such as FNS50210 Diploma of Accounting would support career progression.

Licensing/Regulatory Information

Not applicable.

Entry Requirements

Not applicable.

Employability Skills Summary

EMPLOYABILITY SKILLS QUALIFICATION SUMMARY
Employability Skill	Industry/enterprise requirements for this qualification include:
Communication	compiling data and preparing financial statements and ad hoc reports developing and writing reports to specifications discussing and negotiating with stakeholders when preparing budgets liaising, listening and consulting preparing and presenting routine correspondence in appropriate electronic format using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues
Teamwork	contributing with others to implement policies and procedures referring matters to nominated person as required working with others to gather information and to develop budgets
Problem solving	applying estimating, forecasting and analysis skills checking the accuracy of calculations determining security protocols identifying OHS hazards and risk control solving discrepancies
Initiative and enterprise	applying learning about ergonomic activities to develop improved processes applying referral skills designing reports to effectively present workplace information referring non-routine problems to a nominated person
Planning and organising	establishing and maintaining an accounting system maintaining accounting records for compliance purposes maintaining systems, records and reporting procedures processing accounting data and preparing reports researching and managing data collection and testing
Self-management	adapting to change in technology and work practices identifying and acting upon professional development opportunities understanding and acting upon compliance matters working ethically and complying with industry professional code of practice and legislative requirements working within own defined work role
Learning	developing and maintaining personal competence maintaining knowledge of relevant legislation and industry codes of practice using online help for self-learning purposes
Technology	adapting to change in technology and working within ergonomic guidelines using technology to assist the management of information and to establish and operate systems using word processing, spreadsheet and database skills to produce workplace documents and reports

Packaging Rules

Packaging Rules

13 units must be achieved:

9 core units

plus 4 elective units

all elective units of competency can be selected from the elective bank below

the elective unit FNSBKG405A Establish and maintain a payroll system* must be selected if seeking BAS agent registration

3 electives may be selected from units aligned to Certificate III, Certificate IV or Diploma qualifications in the FNS10 Financial Services or another endorsed Training Package or accredited course.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.

Core units of competency:

BSBFIA401A Prepare financial reports

BSBITU306A Design and produce business documents

BSBOHS303B Contribute to OHS hazard identification and risk assessment

FNSACC301A Process financial transactions and extract interim reports

FNSACC403A Make decisions in a legal context

FNSACC404A Prepare financial statements for non-reporting entities

FNSACC406A Set up and operate a computerised accounting system

FNSBKG404A Carry out business activity and instalment activity statement tasks

FNSINC401A Apply principles of professional practice to work in the financial services industry

Elective units of competency:

BSBITU402A Develop and use complex spreadsheets

BSBPMG403A Apply cost management techniques

BSBWRT301A Write simple documents

FNSACC302A Administer subsidiary accounts and ledgers

FNSACC303A Perform financial calculations

FNSACC401A Process business tax requirements

FNSACC402A Prepare operational budgets

FNSACC405A Maintain inventory records

FNSBKG405A Establish and maintain a payroll system *

FNSACM401A Evaluate and authorise payment requests

FNSORG505A Prepare financial reports to meet statutory requirements

FNSORG506A Prepare financial forecasts and projections