Certificate in Accounting Principles Skill Set
Do you want to learn essential accounting knowledge and skills to be able to complete important bookkeeping tasks?
What you will learn
In the FNSSS00014 Accounting Principles Skill Set, you will learn to prepare financial reports, process financial transactions and extract interim reports, administer subsidiary accounts and ledgers, complete business activity and installment activity statements, set up and operate a computerised accounting system, as well as how to establish and maintain payroll systems.
This online course was designed in consultation with the industry so that you are equipped with the skills and knowledge the industry needs and wants.
Why study this course?
- Graduate with a nationally recognised qualification
- Learn from and be supported by industry professionals with years of experience
- Learn at any time of the day, in the comforts of your own home or office
- Have access to our state-of-the-art online platform with all of the learning resources and assessments for your course
- Whether you want to learn the essentials to undertake bookkeeping tasks for your business, or learn the basics of bookkeeping, this online course can help equip you with the knowledge and skills you need
Business Accounting Foundations
FNSACC312 Administer subsidiary accounts and ledgers
- Review accounts receivable requirements
- Identify bad and doubtful debts
- Review client compliance with terms and conditions and plan recovery action
- Prepare reports and file documentation
- Distribute creditor invoices for authorisation
- Remit payments to creditors
- Reconcile outstanding balances
FNSACC408 Work effectively in the accounting and bookkeeping industry
- Develop professional working relationships
- Identify compliance requirements and support materials
- Set up and maintain systems to meet compliance requirements
- Work autonomously or in a team to complete work activities
- Develop and maintain own competency
FNSACC416 Set up and operate a computerised accounting system
- Implement integrated accounting system
- Process transactions in system
- Maintain system
- Produce reports
Payroll and Tax Essentials
FNSTPB401 Complete business activity and instalment activity statements
- Identify compliance and other requirements applicable to business activity
- Analyse and apply industry codes of conduct associated with work activities
- Review and apply goods and services tax (GST) implications and code transactions
- Report on payroll activities and amounts withheld
- Reconcile and prepare activity statement
- Lodge activity statement
FNSTPB402 Establish and maintain payroll systems
- Establish payroll requirements
- Record payroll data
- Prepare and process payroll
- Handle payroll enquiries
- Maintain payroll
BSBFIA401 Prepare financial reports
- Maintain asset register
- Record general journal entries for balance day adjustments
- Prepare final general ledger accounts
- Prepare end of period financial reports
FNSACC311 Process financial transactions and extract interim reports
- Check and verify supporting documentation
- Prepare and process banking and petty cash documents
- Prepare and process payable and received invoices
- Prepare journals
- Update financial data and systems
- Prepare deposit facility and lodge flows
- Finalise trial balance and interim reports
You are able to learn at your own pace and have up to 6 months to complete this course. This is a self-paced, Trainer-supported method of online learning. We recommend you spend approximately 8-hours a week reading the course material and completing the assessment tasks given to ensure you complete the course within 6-months.
Please note. The above recommended study hours are indicative only. This time would be reduced if you have pre-existing knowledge and experience in accounting and bookkeeping. Edna Training College is also able to support students who may require additional time. Should you require reasonable extensions to complete the training program, you simply have to reach out to our Student & Administration Support personnel who will be more than happy to assist!
There are no set entry requirements for this qualification.
Noting this, we require students who undertake this course to be:
- Be aged 18 years or over;
- Have suitable language, literacy, numeracy and technological skills to be able to carry out tasks such as to:
- Gather and analyse financial information and data from a range of sources to identify key aspects relevant to legislative and organisational requirements,
- Compile and reconcile data to ensure statements are accurate and comply with organisational procedures, statutory requirements and standard financial reporting principles,
- Accurately evaluate and monitor information in relation to financial performance of a business,
- Present information to a range of audiences using structure and language to suit the audience using appropriate industry terminology,
- Use a wide range of mathematical calculations to interpret and compare numerical information, and
- Utilise an online learning platform with ease – this involves being able to upload documents or videos onto the platform, navigate the platform looking for the unit content and assessments, access resources on the platform and communicate with others through the platform;
- Have access to a computer with Microsoft Office Word, Excel and PowerPoint installed; and PDF reader capabilities;
- Have access to a computer with a working web camera and microphone; and
- Have access to an internet connection.
Recognition Of Prior Learning
In accordance with the requirements of the Standards for Registered Training Organisations and the National Code, Edna Training College provides the opportunity for students to apply to have their prior learning and experience recognised towards an accredited qualification or units of competence for which they are enrolled in.
You may have obtained relevant skills and knowledge through prior formal training, workplace training or experience and may reduce the number of units or assessments required to be completed during the program. We will gather information about your prior experience and training history to determine the best pathway for you to achieve competency.
If you are interested in this course and believe you may qualify for course credit, come speak to one of our Student & Administration Support personnel today to find out how we can help you!
We do not believe in our students just learning for the sake of passing their assessments. This is why the assessment structured for this course is conducted using a combination of realistic workplace simulated tasks, projects, written reports and knowledge tests – NO EXAMS! The following provides a brief explanation of the assessment methods that are to be applied:
The student is required to produce a range of written records or reports based on real workplace scenarios or based on a case study that is provided by the assessor. This will usually require the student to consider carefully the situation presented, undertake some research to inform their response and then to propose their recommended actions.
The student is required to demonstrate a range of skills whilst being observed by the assessor. This will usually require the student to consider carefully the situation presented, undertake some research to inform the response, and then demonstrate that they are able to complete the practical tasks through a role-play or presentation activity. The student may be asked to demonstrate a range of skills relevant to the workplace.
The student is required to undertake a range of projects in the context of his or her own workplace or on a case study that is provided by the assessor. A project will require the creation of various workplace documents (such as ledgers and financial reports). Projects may have a practical component to it where the student may be asked to present or role-play the outcomes or findings of their project work.
The student is required to participate in knowledge tests over the course of his or her study. The student will be required to individually complete the test. The student may research their answers from the course training materials and notes as well as relevant workplace references.
Other Relevant Courses
Certificate IV in Accounting and Bookkeeping Online Delivery – View Details here
Diploma of Business – View Details here
BAS Agent Registration Skill Set
Additional Course Information
Please read through our Student Handbook (link here) prior to enrolling into this course.