UPGRADES TO QUALIFICATIONS - PLEASE READ
Due to recent updates to the Financial Services Training Package announced by the Australian Government in February 2018, a number of qualifications have been impacted. Please take the time to read the following information regarding the course you are currently enrolled in.
At this stage, you will only need to decide whether to complete your current course by the cut-off date, or transition to the new qualification.
Select your course from the list below for detailed information about the changes affecting your specific qualification.
Further information will be provided to students wishing to transition to the new qualifications.
FNS30315 - Certificate III in Accounts Administration
FNS30315 Certificate III in Accounts Administration has been superseded by FNS30317 Certificate III in Accounts Administration, which still comprises 7 core units and 3 electives.
The following core units have been discontinued in the new course;
- BSBWHS201 Contribute to health and safety of self and others
- FNSBKG402 Establish and maintain a cash accounting system
and have been replaced by:
- FNSACC304 Conduct business activities using a computerised accounting system
- BSBITU402 Develop and use complex spreadsheets
If you have already completed BSBWHS201 Contribute to health and safety of self and others, this can be credit-transferred to the new qualification.
Please do not complete FNSBKG402 if you are intending to transfer to the new qualification.
For most students who choose to transition to the new qualification, you will likely be required to undertake one or two additional new units. The majority of your current units will be able to be credit-transferred to the new qualification.
OPTION ONE
Complete your current course
Students who are close to completing their current course will most likely opt to complete their current qualification.
Please note:
- You will need to fully complete your course by 11 February 2019
- To allow sufficient time for us to assess your work and issue your qualification, all assessments must be submitted by 15 January 2019.
Any student who has not completed their course by 11 February 2019 must either transition to the new qualification or withdraw from their course. We will not be legally permitted to issue the qualification beyond this date.
OPTION TWO
Transition to the new qualification
Please let us know if you wish to transition to the new qualification, or if you don't anticipate being able to complete your current qualification before the cut-off date of 11 February 2019. We will discuss the steps involved to transition your course.
FNS40215 - Certificate IV in Bookkeeping
FNS40615 - Certificate IV in Accounting
FNS40215 and FNS40615 have been combined into a new qualification called FNS40217 Certificate IV in Accounting and Bookkeeping, consisting of 13 units (8 core units and 3 electives).
The following units are being discontinued and will not be able to be transferred to the new qualification.
- FNSBKG402 Establish and maintain a cash accounting system
- FNSBKG403 Establish and maintain an accrual accounting system
Do not complete FNSBKG402 or FNSBKG403 if you are intending to transfer to the new qualification.
For most students who choose to transition to the new qualification the following will apply:
- If you are enrolled in the dual qualification, you will be required to undertake one or two additional new units, with 11-12 of your current units able to be credit-transferred to the new qualification. This will be determined according to the units you have already completed.
- If you are enrolled in either the separate Cert IV Bookkeeping or Cert IV Accounting, you will most likely need to complete two or three new units. 10-11 of your current units will be able to be credit-transferred to the new qualification.
OPTION ONE
Complete your current course
Students who are close to completing their current course will most likely opt to complete their current qualification.
Please note:
- You will need to fully complete your course by 11 February 2019
- To allow sufficient time for us to assess your work and issue your qualification, all assessments must be submitted by 15 January 2019.
Any student who has not completed their course by 11 February 2019 must either transition to the new qualification or withdraw from their course. We will not be legally permitted to issue the qualification beyond this date.
OPTION TWO
Transition to the new qualification
Please let us know if you wish to transition to the new qualification, or if you don't anticipate being able to complete your current qualification before the cut-off date of 11 February 2019. We will discuss the steps involved to transition your course.
FNS50215 - Diploma of Accounting
FNS50215 Diploma of Accounting has been superseded by FNS50217 Diploma of Accounting, which still comprises 6 core units and 5 electives.
All six core units will be able to be credit-transferred to the new course.
Unfortunately the elective unit FNSACC301 (now FNSACC311) Process financial transactions and extract interim reports, can no longer be transferred as an elective, and has been replaced by a new unit, FNSACC408 Work effectively in the accounting and bookkeeping industry.
Please note that FNSACC301/FNSACC311 is, however, one of two prerequisite units for the core unit FNSACC514 Prepare financial reports for corporate entities. The other prerequisite is BSBFIA401 Prepare financial reports. You will need to have completed both of these prerequisite units to obtain this qualification.
FNS50217 Diploma of Accounting - Course Entry Requirements
In order to transition to, or enrol in, the FNS50217 Diploma of Accounting, there is now a requirement that a student has to have completed the following:
- FNS40615 Certificate IV in Accounting or equivalent; or
- FNS40215 Certificate IV in Bookkeeping or equivalent; or
- Completion of the following six units, or their equivalent, which constitute the requirements for the FNSSS00014 Accounting Principles Skill Set:
FNSACC311 Process financial transactions and extract interim reports
FNSACC312 Administer subsidiary accounts and ledgers
FNSACC408 Work effectively in the accounting and bookkeeping industry
FNSACC416 Set up and operate a computerised accounting system
FNSTPB401 Complete business activity and instalment activity statements
FNSTPB402 Establish and maintain payroll systems;
If you have already completed any equivalent units to the above list, these can be credit transferred.
If you are currently enrolled in FNS50215 – Diploma of Accounting and have not completed the course entry requirements, these units will need to be added to your transition course.
OPTION ONE
Complete your current course
Students who wish to complete their current qualification please note:
- You will need to fully complete your course by 11 February 2020
- To allow sufficient time for us to assess your work and issue your qualification, all assessments must be submitted by 15 January 2020.
Any student who has not completed their course by 11 February 2020 must either transition to the new qualification or withdraw from their course. We will not be legally permitted to issue the qualification beyond this date.
OPTION TWO
Transition to the new qualification
Please let us know if you wish to transition to the new qualification, or if you don't anticipate being able to complete your current qualification before the cut-off date of 11 February 2020. We will discuss the steps involved to transition your course.
FNS60215 - Advanced Diploma of Accounting
FNS60215 Advanced Diploma of Accounting has changed to FNS60217 Advanced Diploma of Accounting, which still comprises 3 core units and 11 electives.
FNS60217 - Advanced Diploma of Accounting - Course Entry Requirements
In order to transition to, or enrol in, the FNS60217 Advanced Diploma of Accounting, there is now a requirement that a student has to have completed the following:
- Completion of FNS50215 Diploma of Accounting; or
- Completion of both FNSSS00014 Accounting Principles Skill Set and FNSSS00015 Advanced Accounting Principles Skill Set:
FNSACC511 Provide financial and business performance information
FNSACC512 Prepare tax documentation for individuals1
FNSACC513 Manage budgets and forecasts
FNSACC514 Prepare financial reports for corporate entities
FNSACC516 Implement and maintain internal control procedures
FNSACC517 Provide management accounting information
If you are currently enrolled in FNS60215 – Advanced Diploma of Accounting and have not completed a course entry requirement, these units will need to be added if transitioning to the new course.
TAX SPECIALISATION - Students enrolled in this specialisation will be able to be fully transitioned to the new qualification, with no need to undertake any additional units.
COMMERCIAL SPECIALISATION - Due to changes to the rules of the course, the following electives can no longer be used:
- BSBFIA401 Prepare financial reports
- FNSACC301 Process financial transactions and extract interim reports
- BSBITU402 Develop and use complex spreadsheets
- FNSTPB401 Complete business activity and instalment activity statements
- FNSTPB402 Establish and maintain payroll systems
Five new electives have been added in their place:
- FNSACC609 Evaluate financial risk
- FNSACC608 Evaluate organisation’s financial performance
- FNSACC602 Audit and report on financial systems and records
- FNSTPB503 Apply legal principles in consumer and contract law
- FNSACC613 Prepare and analyse management accounting information
All remaining electives and core units of the current Commercial Specialisation course will be able to be transferred to the new qualification.
OPTION ONE
Complete your current course
Students who wish to complete their current qualification please note:
- You will need to fully complete your course by 11 February 2020
- To allow sufficient time for us to assess your work and issue your qualification, all assessments must be submitted by 15 January 2020.
Any student who has not completed their course by 11 February 2020 must either transition to the new qualification or withdraw from their course. We will not be legally permitted to issue the qualification beyond this date.
OPTION TWO
Transition to the new qualification
Please let us know if you wish to transition to the new qualification, or if you don't anticipate being able to complete your current qualification before the cut-off date of 11 February 2020. We will discuss the steps involved to transition your course.