Qualification details

FNS60210 - Advanced Diploma of Accounting (Release 3)


ReleaseStatusRelease date
3 (this release)Current 07/Mar/2012
(View details for release 2) Replaced16/Jan/2012
(View details for release 1) Replaced24/Nov/2010

Usage recommendation:
Supersedes FNS60204 - Advanced Diploma of Accounting 23/Nov/2010
Is superseded by FNS60215 - Advanced Diploma of AccountingUpdated to meet Standards for Training Packages.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
FNSACC601B - Prepare and administer compliant tax returns for legal entitiesPrepare and administer compliant tax returns for legal entities N/A
FNSACC602A - Audit and report on financial systems and recordsAudit and report on financial systems and records N/A
FNSACC603A - Implement tax plans and evaluate tax complianceImplement tax plans and evaluate tax compliance N/A
FNSACC604A - Monitor corporate governance activitiesMonitor corporate governance activities N/A
FNSACC605A - Implement organisational improvement programsImplement organisational improvement programs N/A
FNSACC606A - Conduct internal auditConduct internal audit N/A
FNSACC608A - Evaluate organisation's financial performanceEvaluate organisation's financial performance N/A
FNSACC609A - Evaluate financial riskEvaluate financial risk N/A
FNSACC610A - Develop and implement financial strategiesDevelop and implement financial strategies N/A
FNSACC611A - Implement an insolvency programImplement an insolvency program N/A
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SchemeCodeClassification value
ANZSCO Identifier 221111 Accountant (General) 
ASCO (occupation type) Identifier 3211 Branch Accountants And Managers (Financial Institution) 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 
Qualification/Course Level of Education Identifier 411 Advanced Diploma 
Taxonomy - Industry Sector N/A Accounting and Bookkeeping 
Taxonomy - Occupation N/A Assistant Accountant,Accounting Manager 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 221111 Accountant (General) 24/Nov/2010 
ASCO (occupation type) Identifier 3211 Branch Accountants And Managers (Financial Institution) 24/Nov/2010 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 24/Nov/2010 
Qualification/Course Level of Education Identifier 411 Advanced Diploma 24/Nov/2010 
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Modification History



Release 3

This version released with FNS10 Financial Services Training Package version 3.0.

Units changes - FNSACC601B; and inclusions - FNSACC502B; FNSACC403B, FNSTPB501A, FNSTPB502A in electives, to reflect Tax Practitioners Board requirements.

Entry requirements reworded to clarify the intended requirement and remove artificial barriers.

Qualification outcomes remain unchanged.

Release 2

This version released with FNS10 Financial Services Training Package version 2.0.

Redraft entry requirements to more clearly express the intended requirements and also remove unintended barriers.

Release 1

This Qualification first released with FNS10 Financial Services Training Package version 1.0.


This qualification is designed to reflect the role of individuals working in accounting and seeking professional identification.

NOTE : Work functions in this occupational area are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au under Training Packages/Industry) for specific guidance on requirements.

Pathways Information

Pathways into the qualification 

Preferred pathways for candidates entering this qualification include:

  • Diploma of Accounting.

Pathways from the qualification 

A further learning pathway could be study in relevant higher education programs. Learners should establish relevant qualifications and any credit arrangements that may apply in order to make appropriate elective choices in this qualification.

Licensing/Regulatory Information

There is no direct link between this qualification and licensing, legislative and/or regulatory requirements. However, where required, a unit of competency will specify relevant licensing, legislative and/or regulatory requirements that impact on the unit.

Entry Requirements

The entry requirement for this qualification is completion of the Diploma in Accounting in the Financial Services Training Package FNS10.


Completion of the Diploma in Accounting in the Financial Services Training Package FNS04.

The entry requirement can be met by evidence of equivalent competency to the above units through recognition of prior learning (RPL).

Employability Skills Summary

The following table contains a summary of the Employability Skills required by industry for this qualification. The Employability Skills facets described here are broad industry requirements that may vary depending on qualification packaging options.

Employability Skill 

Industry/enterprise requirements for this qualification include: 


  • developing and writing reports to specifications
  • negotiating solutions with clients
  • preparing and presenting correspondence in appropriate electronic formats
  • questioning, listening and clarifying client’s requirements
  • reading and evaluating complex and formal documents, such as legislation and regulation documents
  • processing material and critically analysing and integrating information from a wide range of sources
  • using a range of presentation skills and presenting financial reports using graphs, diagrams and tables


  • liaising with government collection agencies and working with internal staff to achieve team goals
  • negotiating and agreeing with staff on performance standards


  • aligning requirements of the system with the needs of users
  • analysing and synthesising information and determining levels of risk
  • applying estimating, forecasting and analysis skills
  • conducting variance and cost benefit analyses
  • developing financial performance indicators and security arrangements to ensure the integrity of the system
  • establishing and reviewing assumptions/parameters
  • identifying financial risks
  • preparing complex taxation returns
  • testing procedures and analysing internal control procedures
  • using problem solving tools and techniques
  • using sampling and selection techniques

Initiative and enterprise

  • applying referral skills
  • contributing to solutions for workplace challenges
  • demonstrating flexibility to meet changing environments
  • designing appropriate formats for reports
  • investigating corporate governance trends

Planning and organising

  • allocating and reviewing resource allocation and maintaining accurate records
  • developing and monitoring implementation plans
  • ensuring the integrity of systems, records and reporting procedures are maintained
  • establishing and monitoring performance targets
  • implementing internal financial audit to ensure ongoing compliance


  • defining and working within own work role
  • managing own time and priorities and dealing with contingencies
  • taking responsibility as required by work role and ensuring all organisational policies and procedures are followed
  • understanding and acting upon compliance requirements
  • working ethically and complying with industry professional code of practice and legislative requirements


  • adapting to change in technical and work procedures
  • developing and maintaining personal competence
  • identifying opportunities for professional development
  • maintaining currency of knowledge of legislation and industry codes of practice
  • using online help for self-learning purposes


  • conducting web searches and using corporate templates
  • evaluating information technology systems and having the capacity to troubleshoot problems
  • using business technology such as computers and applying word processing, spreadsheet and database skills to produce workplace documents
  • using research data devices and telecommunication devices and equipment
  • using technology to manage financial information and to assist in the planning process

Packaging Rules

Total number of units = 8 

3 core units plus 

5 elective units 

The elective units consist of:

  • 3 from the elective units listed below

of the remaining 2 units:

  • up to 2 may be from the elective units listed below
  • up to 2 may be from 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 

FNSACC604A Monitor corporate governance activities

FNSINC601A Apply economic principles to work in the financial services industry

FNSINC602A Interpret and use financial statistics and tools

Elective Units 

FNSACC601B Prepare and administer compliant tax returns for legal entities

FNSACC602A Audit and report on financial systems and records

FNSACC603A Implement tax plans and evaluate tax compliance

FNSACC605A Implement organisational improvement programs

FNSACC606A Conduct internal audit

FNSACC608A Evaluate organisation’s financial performance

FNSACC609A Evaluate financial risk

FNSACC610A Develop and implement financial strategies

FNSACC611A Implement an insolvency program

FNSACC612A Implement reconstruction plan

FNSACC613A Prepare and analyse management accounting information

FNSACC614A Prepare complex corporate financial reports

FNSFMK505A Comply with financial services legislation and industry codes of practice

FNSORG602A Develop and manage financial systems

FNSRSK602A Determine and manage risk exposure strategies

FNSTPB501A Apply legal principles in corporations and trusts law

FNSTPB502A Apply legal principles in commercial and property law

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