Courses

Nationally Accredited Qualifications

FNS50217 Diploma of Accounting

11 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.

Financial Performance

This unit describes the skills and knowledge required to analyse and report on a broad range of financial and business performance information. It encompasses assessing client needs, analysing data, and preparing advice. It applies to individuals who, in line with their level of authority, use specialised knowledge, systematic approaches, and analytical techniques to research and prepare customised information for clients.

Unit Topics Include:

  • Assess client needs and analyse their financial data
  • Prepare and document financial and business performance advice for clients that: complies with financial legislation and accounting standards, practices and principles, assesses taxation, compliance and business viability issues faced by clients, assesses risk management options and practices.
  • Key requirements of taxation legislation relating to deductions, allowances, and charges
  • Key areas that can cause significant taxation issues
  • Techniques used to forecast financial and business performance
  • Key features of government financial policy relating to financial and business performance advice
  • Key requirements of corporations and consumer legislation relating to financial and business performance information
  • Industry-standard methods for presenting and formatting financial data
  • Key principles of cash flow and budgetary control
  • Sources of information on financial products and markets relating to financial and business performance information
  • Risks, contingencies, and risk management options relating to financial and business performance
  • Client rights and responsibilities in relation to obtaining financial and business performance information

This unit describes the skills and knowledge required to review corporate governance requirements, implement internal control operating procedures, and monitor associated policy. It applies to individuals who use specialised knowledge and analytical skills to ensure organisational procedures, compliance and quality requirements are met.

Unit Topics Include:

  • Interpret and comply with corporate governance requirements, organisational policy, and financial delegations and accountabilities
  • Review corporate governance requirements and implement effective operating procedures to ensure organisational compliance
  • Use a range of methods, work practices and routines relevant to internal control procedures
  • Monitor internal control operating procedures and applicable financial legislation.
  • Ethical and confidentiality considerations when managing and handling files and records
  • Key features of financial legislation relating to financial transactions and reporting requirements
  • Benefits and limitations of internal controls and potential consequences of poor internal controls for internal operations
  • Key requirements of organisational policies and procedures relating to: corporate governance, financial delegations and accountabilities
  • Key principles of internal control and auditing
Budgets and Management

This unit describes the skills and knowledge required to prepare, document, and manage budgets and forecasts. It encompasses forecasting estimates and monitoring budgeted outcomes. It applies to individuals who use specialised knowledge and analytical skills to prepare and manage strategic organisational information.

Unit Topics Include:

  • Prepare, document and present budgets and forecasting estimates that comply with: Industry-standard accounting principles and practices, Organisational policies and procedures, Legal and ethical requirements
  • Monitor budget outcomes periodically, analyse budget variances and their possible causes, and make required changes in response.
  • Key purpose and objective of budgets and forecasts, including relevance of milestones and key performance indicators
  • Principal ethical requirements associated with budgetary forecasting and projections within the context of the strength of assumptions and forecast reliabilities
  • Types and sources of data and information required for budgeting and forecasting
  • Budget forecasting techniques
  • Key features of organisational policies and procedures relating to budgeting and forecasting
  • Key principles of accrual accounting and double-entry bookkeeping, including: How implementation affects budgeting and the monitoring of budget outcomes
  • Key principles and practices of: Corporate governance, Statistical analysis and measures of variance

This unit describes the skills and knowledge required to gather, record and analyse operating and cost data, prepare budget reports, and review costing system integrity to calculate and record the costs of products and services. It applies to individuals who use specialised knowledge and analytical skills to manage complex financial data and develop comprehensive organisational reports.

Unit Topics Include:

  • Gather and record operating and cost data according to organisational policy and procedures
  • Analyse data and assign costs to products, services and organisational units to comply with organisational procedures
  • Obtain data and prepare a range of cost reports and budgets to meet management information requirements
  • Analyse variances between budgeted and actual data, and review integrity of costing systems.
  • Cost behaviour characteristics for different cost elements of a product or service
  • Key features of organisational policies and procedures as they apply to costing systems
  • Key requirements of management accounting information
  • Key principles and practices of budget preparation
  • Relationship between variance analysis and costing system integrity
Financial Reporting

This unit describes the skills and knowledge required to plan a financial forecast or projection, identify assumptions and parameters, collect, consolidate and analyse data, make forecasts or projections, document results and obtain approval. It applies to experienced individuals who use a range of specialist and managerial techniques to plan and carry out their work, and provide direction to others.

Unit Topics Include:

  • Comply with organisational policy and procedures that relate to the preparation of financial forecasts and projections
  • Apply standard accounting principles and techniques
  • Accurately identify assumptions and parameters of forecasts
  • Collect, consolidate, model and analyse data in a timely manner
  • Document forecasts and projections, and obtain approval where required.
  • Describe relevant financial industry codes of practice
  • Explain financial forecasting techniques, models and best practice
  • Identify key users or audience for financial forecasts and projections
  • Outline factors in the external environment that can impact on financial forecasts
  • Outline the relevance of historical financial reports to forecasting
  • Identify and interpret relevant organisational policy and procedures
  • Explain key requirements of relevant legislation and regulations that influence the financial services industry.

This unit describes the skills and knowledge required to prepare financial reports for a corporate reporting entity. It encompasses compiling and analysing data and meeting statutory reporting requirements. It applies to individuals who use specialised knowledge and analytical skills to prepare financial reports that meet specific compliance requirements.

Unit Topics Include:

  • Access, compile and analyse data and prepare reports for corporate entities, including: shareholders’ funds reports, reports aiding the acquisition of corporate entities, tax affected account reports, consolidated financial reports
  • Confirm data and reports comply with: organisational policies and procedures, ethical requirements, required accounting standards, statutory and reporting body requirements.
  • Current business taxation requirements for preparing corporate accounting reports
  • Current financial legislation and statutory requirements relating to taxable transactions and reporting requirements
  • Ethical requirements associated with preparing financial reports for corporate entities, including conflict of interest, confidentiality, and disclosure requirements
  • Industry-standard methods and formats used to present financial data
  • Options, methods and practices for recording and reporting deductions, benefits and depreciation
  • Key requirements of organisational policies and procedures relating to preparing financial reports for corporate entities
  • Business legal requirements relating to delegated authorities, reporting periods, and taxation payment timings
Taxation (FNSSS00004) - The Law for Tax Agents Skill Set

This unit describes the skills and knowledge required to prepare non-complex income tax returns for individuals in line with statutory requirements. It encompasses gathering and verifying data, calculating taxable income, and reviewing compliance requirements. It applies to individuals who use systematic approaches and follow specific guidelines to ensure compliance requirements are met.

Unit Topics Include:

  • Research, critically evaluate, and apply new or changed legislative requirements relating to the preparation of client non-complex income tax documentation
  • Identify client data required to calculate taxable income
  • Prepare client tax documentation that complies with: Australian taxation law and Australian Taxation Office (ATO) rulings, accounting principles and practices, organisational policies and procedures
  • Provide advice to client on tax documentation presented and obtain verification and approval.
  • Ethical considerations and legislative requirements required to prepare non-complex income tax documentation for individual taxpayers, including: conflict of interest, responsibilities of tax agents, including code of professional conduct obligations under the Tax Agent Services Act (TASA) and Tax Agent Services Regulations (TASR)
  • Key elements of Australian tax law as they relate to income tax documentation for individual taxpayers, including: rules and principles of Australian tax law, and the legal environment in which these principles operate, basics of the legal system, constitutional considerations, and separation of powers that relate to preparing non-complex income tax documentation, key aspects of the income tax law covering concepts of: residence and source, related elements of international tax, assessable income, deductions, including general, specific, and decline in value, tax rebates and offsets, tax accounting, income test definitions that include reportable superannuation and fringe benefits tax (FBT), key aspects of principles and application of capital gains tax (CGT), FBT and employment termination payment (ETP) rules for individual taxpayers, basic concept of goods and services tax (GST), administrative aspects of the taxes identified above, including documentation, tax collection and withholding mechanisms, assessments, obligations, rulings, penalties and audits, specific and general anti-avoidance tax rules for individuals
  • Key sources of information and data required to calculate taxable income
  • Key features of organisational policies and procedures required to prepare non-complex income tax documentation for individual taxpayers
  • Key accounting principles and practices required to prepare non-complex income tax documentation for individual taxpayers

This unit describes the skills and knowledge required to identify taxation requirements for complex lodgements and returns for legal entities. It involves gathering, analysing and processing taxation related data to prepare tax documentation, and to review and apply compliance requirements. It applies to individuals who use specialised knowledge and systematic approaches and who follow specific guidelines to ensure compliance requirements are met. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet educational requirements of the Tax Practitioner Board (TPB). Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.

Unit Topics Include:

  • Research and critically evaluate new or changed legislative requirements and apply where relevant to the preparation of the client's tax documentation
  • Provide taxation advice to clients in line with individual requirements
  • Identify legal entity tax data required to calculate taxable income
  • Prepare tax documentation for legal entities that complies with: Australian taxation law and Australian Taxation Office (ATO) rulings and lodgement schedules, accounting principles and practices, organisational policy and procedures
  • Present tax documentation to the client for verification and approval.
  • Identify and explain ethical considerations and legislative requirements relevant to the preparation of tax documentation for legal entities, including: conflict of interest, esponsibilities of tax agents including Code of Professional Conduct obligations under the Tax Agent Services Act (TASA) and Tax Agent Services Regulations (TASR), government tax policy documents issued by Reviews, Treasury and Board of Taxation, Explanatory materials in relation to legislation, statutes, Court and Administrative Appeals Tribunal decisions, Commissioner of Taxation's interpretive guidance in Rulings and Determinations
  • Explain critical and key elements of Australian tax law as it relates to tax documentation for legal entities such as companies, trusts, partnerships and sole traders including: The rules and principles of Australian tax law, with an understanding of the legal environment in which these principles operate, basics of the legal system, constitutional considerations and separation of powers, The key aspects of income tax law covering concepts of residence and source, related elements of international tax, assessable income, deductions, tax rebates and offsets, and tax accounting, The key aspects of taxes that extend the ordinary income tax base, including relevant principles and application of the capital gains tax (CGT) and fringe benefits tax (FBT) rules, Goods and services tax (GST), Taxation aspects of superannuation law, Administrative aspects of the taxes identified above including documentation, tax collection and withholding mechanisms, assessments, obligations, rulings, penalties and audits, Specific and general anti-avoidance tax rules
  • Describe the key sources of information and taxable transactions data required to calculate taxable income, including: Allowable deductions, Capital gains, Financial adjustments such as write-offs and revaluations, Income, Payments, Purchases, Superannuation payments
  • Describe the key features of organisational policy and procedures relating to the preparation of tax documentation for legal entities
  • Outline the key accounting principles and practices relevant to the preparation of tax documentation for the different types of legal entities.
A Credit Transfer would be provided for the following three units as they are have already been completed within the Prerequisite Qualifications &/or Skill Set.
Industry Skills and Knowledge

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
BAS (FNSSS00004 - BAS Agent Registration Skill Set)

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 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

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