Courses

Nationally Accredited Qualifications

FNS40217 Certificate IV in Accounting and Bookkeeping

13 Units to Complete

TBST have sequenced the units of the Qualification in an order that builds the students skills and knowledge in a cumulative manner. As the student progresses through the course, the skills and knowledge obtained from a previous unit will then assist them in achieving competence in the subsequent units. For example, students start out with lower level units and build up to more complex units, tasks and assessments.

This unit describes the skills and knowledge required to design and produce various business documents and publications. It includes selecting and using a range of functions on a variety of computer applications. It applies to individuals who possess fundamental skills in computer operations and keyboarding. They may exercise discretion and judgement using appropriate theoretical knowledge of document design and production to provide technical advice and support to a team. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Select appropriate technology and software for design and production of business documents
  • Adhere to organisational requirements when: selecting layout and style, opening and generating files, producing documents within designated timelines, naming and storing documents, printing and presenting documents
  • Adhere to task requirements when producing documents including: applying basic design principles, applying consistent formatting, using appropriate styles, using correct layouts, proofreading as required
  • Apply knowledge of functions and features of contemporary computer applications
  • Print and present completed documents
  • Identify appropriate technology for production requirements
  • Describe functions and features of contemporary computer applications
  • Outline organisational policies, plans and procedures
  • List organisational requirements for document design e.g. style guide.

This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journal entries to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports. It applies to individuals who use specialised knowledge and follow agreed processes to carefully check and process detailed financial information to ensure standards are maintained. Work functions in the occupational areas where this unit 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 regulatory requirements.

Unit Topics Include:

  • Enter and balance deposits and payments
  • Reconcile banking documentation and process and balance petty cash transactions
  • Check and verify financial transaction supporting documentation
  • Apply security and safety measures when preparing and banking receipts
  • Prepare deposit facilities
  • Enter data into financial systems and process general and special (cash and credit) journal entries, identifying and correcting errors
  • Process special transactions
  • Prepare and authorise journals and check journal processing interim reports
  • Extract, check and correct a trial balance
  • File documentation according to organisational and regulatory requirements.
  • Key principles and practices of double-entry accounting and accrual accounting systems
  • Range of industry-accepted accounting conventions, processes and procedures for the work tasks described in the performance evidence
  • Standard industry banking procedures and guidelines, including: form of ‘proof of lodgement’ for different deposit methods, industry-accepted security and safety precautions appropriate to banking method, Key features of legislative and regulatory requirements relating to processing financial transactions
  • Key features of organisational policies and procedures relating to processing financial transactions, including: organisational policy and procedures for preparing and processing invoices, organisational input standards and journal authorisation procedures, security procedures for handling electronic payments, cheques and cash, safety procedures for specific banking methods
  • Key features of routine financial reports, including: trial balances, bank account reconciliation reports, interim reports

This unit describes the skills and knowledge required to establish, operate, and modify an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions in the system, maintaining the system, producing reports, and ensuring system integrity. It applies to individuals who, within the scope of own responsibility, use specialised knowledge, information technology, and planning and organising skills to establish and maintain an organisational system in service and trading environments. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Set up the chart of accounts for one organisation by modifying an established integrated financial software system
  • Implement an integrated computerised accounting system, ensuring integrity of the data
  • Process transactions in the integrated system, including: BPAY, credit card payments, direct debit, invoices, petty cash
  • Generate reports in the integrated system over at least two reporting periods, including: goods and services tax (GST) accrual report, payroll report, bank reconciliation report, profit and loss statement, balance sheet
  • Maintain computerised accounting system information securely.
  • Key features of desktop and cloud-based computerised accounting systems
  • Key features of organisational policies and procedures relating to setting up and operating a computerised accounting system
  • Key requirements of financial services industry legislation relating to information privacy when using computerised accounting systems
  • Key features and characteristics of information included in source documents of financial data

This unit describes the skills and knowledge required to reconcile and monitor subsidiary accounts in financial accounts receivable systems, identify bad and doubtful debts and plan a recovery action, record creditor invoices, and remit payments to sundry creditors. It applies to individuals who use specialised knowledge and follow agreed processes to problem solve within the scope of own responsibility. Work functions in the occupational areas where this unit 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 regulatory requirements.

Unit Topics Include:

  • Reconcile and monitor subsidiary accounts according to industry compliance requirements and organisational policies and procedures, including: using required data entry and reporting systems to perform account and ledger administration activities, following organisational data validation and reconciliation processes and analysing outcomes of the reconciliation for required actions, identifying bad and doubtful debts in a timely manner, planning effective debt recovery actions.
  • Key features of debits and credits, and their role in accounting systems
  • Procedures for identifying bad or doubtful debts
  • Key requirements relating to the administration of subsidiary accounts and ledgers detailed in: legal systems, regulations and procedures, industry codes of practice
  • Key requirements of organisational policies and procedures relating to reconciling and monitoring financial accounts, including organisational credit policy
  • Industry-accepted measures and protocols to remit and collect monies
  • Key features of debt recovery plans

This unit describes the skills and knowledge required to record and prepare payroll documentation, respond to enquiries, and process payroll data for manual and computerised systems. It applies to individuals, including BAS agents, who use a range of organisational and other specialist techniques. They may work directly for organisations or be small business owners, contractors or service providers. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

  • Identify, calculate and input data from time-recording systems for payments into manual or computerised payroll systems
  • Produce a payroll report according to organisational and legislative requirements
  • Present a payroll report for verification and approval
  • Maintain records according to organisational and legislative requirements that relate to security and confidentiality of information.
  • Scope of services offered by a business activity statement (BAS) agent providing payroll services
  • Key principles of award and enterprise agreements and industrial instruments required to maintain payroll systems
  • Organisational policy and procedures that affect payroll, including the structure of authority in organisations
  • Industry codes of practice relevant to payroll operations
  • Key features of manual and computerised payroll systems
  • Legislative and record-keeping requirements from all levels of government that affect business operation and reporting requirements, especially in regard to: Fair Work Act, National Employment Standards, Superannuation Guarantee (Administration) Act, corporations law, workers compensation and work health and safety, state payroll tax relating to payroll activities, Privacy Act and requirements relating to confidentiality and security of records, Higher Education Loan Program (HELP), Medicare levy, Tax Agent Services Act (TASA), current commonwealth, state and territory industry and modern awards, and enterprise bargaining agreements, individual employment agreements, commonwealth, state and territory leave Acts, including annual, personal, paid parental and long service, Australian Bureau of Statistics (ABS) Act
  • Current Australian Taxation Office (ATO) requirements relating to payroll systems, including:, Australian business number (ABN), payment summaries, employment termination payments (ETPs), tax file number (TFN) declaration
  • Tax Practitioners Board (TPB) requirements relating to payroll systems, including:, registration and scope of services documentation requirements for BAS agents, code of professional conduct
  • Key requirements of taxation law relating to payroll systems, including: pay as you go instalment (PAYGI) tax, pay as you go withholding (PAYGW) tax, fringe benefits tax (FBT) as it relates to salary packaging
  • Key aspects of routine and non-routine requirements for payroll, including: routine: award payments, salary amount, salary packaging, superannuation guarantee and superannuation reporting non-routine: termination payments and superannuation guarantee charge

This unit describes the skills and knowledge required to prepare financial statements for entities that do not have a statutory duty to file financial reports with government agencies and regulators. It applies to individuals who use specialised knowledge and systematic approaches to collate and prepare financial information in line with accounting standards. Work functions in the occupational areas where this unit 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 regulatory requirements.

Unit Topics Include:

  • Access, analyse and compile required financial data for non-reporting entities
  • Calculate financial ratios for liquidity, activity and profitability, and analyse the significance of those calculations
  • Prepare financial accounts and comprehensive statements showing financial position, performance and cash flow for: a partnership, a not-for-profit organisation.
  • Differences between non-reporting entities and reporting entities
  • Different types of non-reporting entities and their key characteristics
  • Purpose of preparing financial statements for non-reporting entities
  • Key features of organisational guidelines and procedures relating to preparing financial statements for non-reporting entities
  • Key features of financial legislation covering: taxable transactions, reporting requirements
  • Advantages and disadvantages of: ratios and comparison techniques, methods of presenting financial data

This unit describes the skills and knowledge required to comply with organisational inventory procedures, reconcile inventory records to general ledgers, record inventory flows, prepare schedules and produce ad hoc reports. It applies to individuals who use specialised financial knowledge and follow procedures to ensure compliance with required standards. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Make inventory flow assumptions and record inventory flows using generally accepted accounting principles and inventory valuation rules
  • Prepare schedules and ad hoc reports.
  • Outline organisational procedures and practices and generally accepted accounting principles relevant to maintaining inventory records
  • Describe the key steps in the inventory management processes and relevant documentation and recording systems
  • Identify and explain the process for entering data into systems or ledgers
  • Explain the key features of inventory valuation rules and reconciliation processes.

This unit describes the skills and knowledge required to identify and apply compliance requirements to effectively process and complete business activity statements (BAS), instalment activity statements (IAS), and other required reports. It applies to individuals who use a range of organisational and analytical techniques to work in organisations or to supply specific bookkeeping services as a small business owner or contractor. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet the education requirements of the Tax Practitioner Board (TPB). Refer to the FNS Financial Services Training Package Companion Volume Implementation Guide or the relevant regulator for specific guidance on regulatory requirements.

Unit Topics Include:

  • Research, critically evaluate, and apply changes to current or new legislative or professional conduct requirements when preparing business activity statements (BAS)
  • Identify financial transactions required to prepare activity statements and apply the principles and classifications of the goods and services tax (GST)
  • Prepare both BAS and instalment activity statements (IAS) for a range of legal entities that comply with: Australian taxation law, Australian Taxation Office (ATO) rulings, Tax Practitioner Board (TPB) requirements, and lodgement schedules, accounting principles and practices organisational policy and procedures relating to business activity statements
  • Present business activity statements for verification and approval.
  • Research methods and sources of information used to update knowledge of professional and legislative requirements relating to activity statements
  • Key requirements of current legislation, regulations and industry codes of practice relating to preparing activity statements, including: Tax Agent Services Act (TASA), including Code of Professional Conduct. TPB registration requirements, and civil penalty provisions, Fringe Benefits Tax Assessment Act, A New Tax System (Goods and Services Tax) Act, Income Tax Assessment Act, Taxation Administration Act, other taxation laws, including taxable payments annual reporting, fringe benefits tax (for collection and recovery), wine equalisation tax, luxury car tax and fuel tax, Privacy Act, ATO requirements
  • Accounting terminology used when preparing and submitting BAS and IAS for a range of business types
  • GST terminology, classifications, regulations, and obligations

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports. It applies to individuals employed in a range of work environments who are responsible for preparing financial reports. They may be individuals providing administrative support within an enterprise, or they might have responsibility for these tasks in relation to their own workgroup or role. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Produce a detailed asset register and depreciation schedule
  • Accurately record entries for balance day adjustments
  • Prepare financial reports
  • Trace and reconcile errors systematically or seek expert advice if required
  • Apply double-entry principles
  • Complete all tasks according to organisational policies and industry standards .
  • Explain double-entry bookkeeping principles
  • Identify general journal and general ledger entries
  • List the key provisions of relevant legislation, regulations, standards and codes of practice that may preparation of financial reports
  • Describe organisational accounting systems
  • Outline relevant organisational policies, procedures and accounting standards.

This unit describes the skills and knowledge required to work autonomously and in teams to complete work activities relating to the provision of accounting and bookkeeping services. It applies to individuals who occupy roles with some responsibility and use a range of research and organisational techniques to establish and carry out their work requirements in the accounting industry. Work functions in the occupational areas where this unit 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 regulatory requirements.

Unit Topics Include:

  • Establish and maintain effective relationships with clients and colleagues
  • Research and identify organisational policies and procedures relevant to own role
  • Develop systems and guidelines for work procedures that comply with legislative requirements
  • Analyse, evaluate and organise information required for own role
  • Effectively plan work and contribute to team environment, taking into account constraints and available resources
  • Identify and evaluate opportunities for own professional development.
  • Avenues for identifying other professionals in the accounting and bookkeeping industry
  • Requirements of accounting and bookkeeping industry codes of practice
  • Policies and procedures required for own role in the accounting and bookkeeping industry
  • Statutory, legislative and regulatory requirements for documenting accounting procedures

This unit describes the skills and knowledge required to understand the fundamentals of internet computing and cloud services. It involves undertaking a basic review of business computing needs and identifying options for introducing cloud computing services into a small business or work area in an organisation. It applies to individuals who use problem-solving skills and take responsibility for adopting and promoting approaches to improve business operations. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Identify and discuss future computing needs and potential improvements to business operations with relevant people
  • Collate information collected in review, and summarise business computing needs
  • Research fundamentals of cloud computing, types of services offered, and their costs
  • Seek assistance from specialist advisors as required, to determine relevant cloud computing services
  • Undertake basic cost-benefit analysis for introducing cloud computing
  • Identify potential opportunities and risks associated with introducing cloud computing
  • Prepare a business case for implementing cloud computing services or other required changes, and seek approval where required
  • Prioritise introduction of cloud computing, including short-term and longer-term goals
  • Prepare a budget catering for short and long-term priorities, following business format and requirements
  • Independently or through services of a specialist advisor, outline steps and activities required to introduce cloud computing into the business
  • Communicate and promote key features of the plan to others
  • Organise training and coaching to maximise cloud computing potential
  • Encourage and support individuals and work groups to become more efficient using cloud computing

This unit describes the skills and knowledge required to implement a business plan and modify operations as required. It applies to individuals who operate a small business which stands alone, or is part of a department within a larger organisation. Individuals in this role use problem-solving skills and take responsibility for developing approaches to manage business operations. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Identify and discuss future computing needs and potential improvements to business operations with relevant people
  • Collate information collected in review, and summarise business computing needs
  • Research fundamentals of cloud computing, types of services offered, and their costs
  • Seek assistance from specialist advisors as required, to determine relevant cloud computing services
  • Undertake basic cost-benefit analysis for introducing cloud computing
  • Identify potential opportunities and risks associated with introducing cloud computing
  • Prepare a business case for implementing cloud computing services or other required changes, and seek approval where required
  • Prepare a budget catering for short and long-term priorities, following business format and requirements
  • Independently or through services of a specialist advisor, outline steps and activities required to introduce cloud computing into the business
  • Communicate and promote key features of the plan to others
  • Organise training and coaching to maximise cloud computing potential
  • Encourage and support individuals and work groups to become more efficient using cloud computing

This unit describes the skills and knowledge required to prepare and document operational budgets for a variety of organisations. It applies to individuals who use specialised knowledge and systematic approaches to undertake strategic financial activity for an organisation. No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Topics Include:

  • Establish and confirm budgetary milestones and performance indicators
  • Collect financial data and prepare operational budgets for a range of organisations
  • Identify budget variances and report variances to designated stakeholders
  • Record and document budget reports.
  • Key principles of budgetary control
  • Range of forecasting techniques used when preparing operational budgets
  • Key principles of statistical analysis and measures of variance in the context of financial data analysis and operational budgets
  • Key features of organisational policies and procedures for financial administration as they relate to budgeting

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