Accounting Principles Skill Set (FNSSS00014)
Learn accounting and bookkeeping competencies including payroll, BAS, accounts payable and receivable, as well as accounting data entry and reporting skills.
Course Information
Please note, as we are in the process of transitioning into the new Accounting Principles Skill Set program, we are currently not accepting enrolments into the course until February 2024.
Our Accounting Principles Skill Set course is designed to provide you with a solid foundation in the fundamental concepts and practices of accounting. Through a combination of theoretical explanations, practical examples, and hands-on exercises, you will gain a deep understanding of essential accounting principles and their real-world application.
The FNSSS00014 Accounting Principles Skill Set is specifically tailored to introduce you to the basics of accounting and bookkeeping. By enrolling in the Certificate in Accounting Principles Skill Set, you will acquire the skills and knowledge necessary to:
This accounting principles skill set online course has been developed in close collaboration with industry experts, ensuring that you acquire the practical skills and knowledge that are highly valued in the field. Our aim is to equip you with the expertise needed to meet industry standards and excel in your accounting career.
What you will learn
Prepare accurate financial reports,
Process financial transactions and extract interim reports,
Complete business activity and installment activity statements with confidence,
Effectively administer subsidiary accounts and ledgers,
Establish and maintain efficient payroll systems
Set up and proficiently operate a computerized accounting system,
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
- This course meets the Tax Practitioners Board’s current educational requirements for registered BAS agents (additional eligibility criteria applies) – visit the TPB website for more information
- 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
FNSACC322 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
FNSACC418 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
FNSACC426 Set up and operate a computerised accounting system
- Implement integrated accounting system
- Process transactions in system
- Maintain system
- Produce reports
Payroll and Tax Essentials
FNSTPB411 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
FNSTPB412 Establish and maintain payroll systems
- Establish payroll requirements
- Record payroll data
- Prepare and process payroll
- Handle payroll enquiries
- Maintain payroll
Reporting
FNSACC421 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
FNSACC321 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
Graduates are eligible for the following positions
- Accounts clerk
- Bookkeeper
- Accounts receivable/payable officer.
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!
- Be aged 18 years or over;
- Have suitable language, literacy, numeracy and technological skills to be able to carry out tasks such as to:
- Interpret, analyse and evaluate information that may deal with complex ideas to determine legislative and business requirements,
- Present information, ideas and concepts to a range of audiences using structure and language to suit the audience,
- Use a wide range of mathematical calculations to analyse numeric information in budgets, financial plans and other financial documents, 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.