Home > Courses > Accounting > Diploma of Accounting
FNS50217

Diploma of Accounting

Study Method Online
Provider Monarch Institute
Start Date Enrol anytime
Monarch Institute

  • Living in QLD? Government funding may be available for you. Flexible payment plans available for other states. Enquire for more information

Course overview

Accounting is much more than simply crunching numbers. It involves interpreting financial information to allow informed decisions about small, medium and large businesses.  You will become a financial ‘mechanic’ able to diagnose financial issues within a business, and fix them. Have you heard the famous saying, “knowledge is power”? We suggest financial knowledge takes you one step further.

Monarch Institute is one of very few registered training organisations (RTOs) to offer the TPB (Tax Practitioners Board) approved courses required to become a registered BAS agent or a registered tax agent. We’re also included in a very select few accredited training providers listed by the world’s largest bookkeeping institute, the Institute of Certified Bookkeepers. In other words, they’re fit for what the industry is looking for.

Courses are delivered by skilled professionals, senior CPA and chartered accountants, registered BAS agents and bookkeepers. They have decades of combined experience across an extensive range of industries.

Job outcomes

  • Registered Tax Agent
  • Budget Analyst
  • Financial Analyst
  • Accounting Manager
  • Financial Controller
  • Forensic Accountant
  • Management Accountant
  • Financial Accountant
  • Auditor
  • Government accountant
  • Chief Financial Officer (CFO)

Want to see more job outcomes and how your future could change?

Study method

  • Online Online info icon
    Online delivery - online course content with the exception of assessments and work placement
  • Blended Blended info icon
    Blended delivery - both online course content and partial face to face requirements
  • In-class In-class info icon
    In class delivery - predominately face to face course content conducted at a specific location
  • Virtual Virtual info icon
    Virtual Delivery - Live and interactive classroom-style learning conducted completely online

Duration study load

12 months self-paced.

Delivery

This course has been developed to give you absolute flexibility. Study on your couch, on public transport, on your break at work, out in the park – wherever and whenever you like. The best part is, with Monarch Institute, online doesn’t mean alone. You’ll be backed by our trainers at every step along the way.

Your trainer will be happy to contact you via phone, Skype, Zoom, TeamViewer, or email (Monday to Friday, 9am to 5.30pm). So you definitely won’t feel alone. You’ll also have access to our student Facebook groups, so you can discuss the material with other students. It’s a handy way to stay in touch with trainers and others in the same course.

Entry requirements

To start the Diploma of Accounting, you’ll need to have either a Certificate IV in accounting or a bookkeeping OR the FNSSS00014 Accounting Principles Skill Set which includes the following units:

  • FNSACC311 Process financial transactions and extract interim reports
  • FNSACC312 Administer subsidiary accounts and ledgers
  • FNSACC416 Set up and operate a computerised accounting system
  • FNSTPB402 Establish and maintain payroll systems
  • FNSTPB401 Complete business activity and instalment activity statements
  • FNSACC408 Work effectively in the accounting and bookkeeping industry

Find out more about the entry requirements for this course

Course features

Online Study (Self-Paced):

  • Easy-to-follow course materials (we’ll also post you textbooks)
  • Videos and webinars
  • Heaps of support from your course trainers (phone, email, Skype, Zoom)
  • A dedicated admin team on hand to guide you
  • Online assessments
  • Student Facebook group

Recognition of prior learning

Monarch Institute recognises Recognition of Prior Learning (RPL) which takes into account the knowledge and skills you have already gained through your previous education and work history, attributing this to your FNS50217 Diploma of Accounting These may be through formal or informal training and can result in credits towards your qualification. We also offer Credit Transfer (CT).

Assessment

Assessment formats include:

  • Case studies
  • Multiple-choice questions
  • Short-answer questions
  • Calculation questions
  • Accounting software-simulation questions
For Tax Agent Certification you will have to complete an exam

The Tax Practitioners Board (TPB) requires the  Tax Agent Certification (TAC) Module to be completed via two two-hour open book exams.

The first exam covers Australian tax law. The second exam covers Australian commercial law. The exams do not need to be completed at the same time, in fact it is suggested they are not.

Materials

You will need access to the following equipment to successfully complete the course:

  • Working computer with Microsoft Office (2009 or later)
  • Access to the internet

Subjects

You’ll need to study a total of 11 units, which are spread out over four modules, with an optional module for Tax Agent Certification, which comprises three additional units.

Core Modules
Module 1Financial Reporting

 

  • How to apply accrual accounting principles
  • Recording fixed assets and depreciation
  • Balance Day adjustments
  • Closing entries
  • Final reports
  • Accounting for shares and debt
  • Reserves, provisions and dividends
  • Preparing statements of cash flow
  • Accounting for income tax for corporate entities
  • Preparation of cash flow statements
  • Preparing consolidated reports

 

Module 2Budgets, management accounting and economics
  • The budgeting process
  • Operating and capital budgets
  • Cash budgeting
  • Manufacturing budgets
  • Financial budgets
  • Flexible budgets and performance reporting
  • Understanding cost accounting flows
  • Measurements for allocating overhead costs
  • Preparing job-costing records
  • Understanding the concept of responsibility accounting
  • Determining cost-volume-profit analysis
  • Grasp the principles of micro- and macro-economics
  • Business and market structures
  • Fiscal and monetary policy
  • Capital budgeting and structuring debt and equity
  • Portfolio theory: balancing risk and return
  • Financial regulation and capital requirements
  • Financial mathematics
Module 3Financial performance information and internal control

 

  • Financial management for businesses
  • Understanding major sources of finance
  • Determining business risk
  • Managing working capital
  • Understanding financial statements and ratios
  • Determining weighted cost of capital
  • Understanding dividend policy
  • Using capital budgeting techniques for decision making
  • Understanding how to conduct an internal audit and accounting-systems review
  • Implementing compliance testing
  • Financial Services industry regulation and codes of practice
  • Working with company policies and procedures
  • Managing information
  • Practices for working in a team
  • Time management skills
  • Continuing professional development

 

Module 4Taxation

 

  • Determining assessable income
  • Calculating exempt income
  • Understanding tax implications for annuities and foreign pensions
  • Understanding termination payments
  • Determining tax for small-business entities
  • Calculating tax on trading stock
  • Understanding offsets and tax losses
  • Implementing tax administration
  • Dealing with income of minors
  • Understanding tax implications for trusts, partnerships and companies
  • Calculating tax for superannuation funds, fringe benefits and capital gains

 

Want more information about the subjects for this course?

Payment options

There are two methods of payment:

  • Upfront Payment

  • Payment Plans

Find out more about the payment options for this course

About Monarch Institute

Monarch Institute is one of Australia’s leading providers of professional services training. We believe education should be an experience, not a transaction.

Our award-winning, innovative approach to course content and design means that you get relevant, accredited courses with loads of support from experienced trainers who give you the time to ensure you’ve got the skills that the industry needs. Study online today with Monarch and change the way you think about studying.

Study online with Monarch Institute and experience education, reimagined.

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