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Certificate IV in Bookkeeping

What does the FNS40215 Certificate IV in Bookkeeping involve?

Whether you are considering this course to successfully land your first job in this exciting industry, start your own business, improve your existing job role or simply round out your skill set, our FNS40215 Certificate IV in Bookkeeping is the pathway to achieving your goals.

Monarch Institute is an industry leader in the provision of Accounting and Bookkeeping training. The quality of our trainers and course materials are quite simply the reason you should choose us!  Our trainers and course developers successfully work in the Accounting and Bookkeeping industry meaning you are learning from experts that walk the walk, and have a genuine passion for sharing and imparting their knowledge and skills to each and every one of our students.

Who should study this qualification?

Our Certificate IV in Bookkeeping provides a pathway into an exciting career as a Certified Bookkeeper and Registered BAS Agent. Monarch’s FNS40215 Certificate IV in Bookkeeping meets the education standards prescribed by the Tax Practitioner’s Board and is recognised by leading Associations in Australia. This qualification presents a pathway to completing Monarch’s FNS50215 Diploma of Accounting in order to become a Registered Tax Agent.

Victorian and Queensland Government Funding available:

Check your eligibility by CLICKING HERE

Special offer:

Add the FNS40215 Certificate IV in Accounting as a Dual Qualification
CLICK HERE for more information.
Plus get free membership into the Institute of Certified Bookkeepers when you enrol. Save $120!
CLICK HERE for more information.

What is covered in the FNS40215 Certificate IV in Bookkeeping?
(Units of Competency)

Course Modules

  • Module 1 - Establishing solid foundations...accounting fundamentals
    1. How to apply accrual accounting principles
    2. Cash accounting
    3. Applying GST rules to transactions
    4. Depreciation methods and calculations
    5. Completion of general journal and special journal entries
    6. Posting journal entries to general ledger accounts
    7. Using subsidiary debtors and creditors accounts
    8. Completing bank reconciliations
    9. Preparing the trial balance
    10. Income Statements
    11. Balance Sheets
    12. Inventory accounting and valuation methods
  • Module 2 - Show me the money! Financial statements and taxation
    1. Financial Reporting and the Regulatory Environment
    2. Incomplete Records & Correction of Errors
    3. Introduction to Cash Flows and Statements
    4. Management Reports & Analysis
    5. Partnerships
    6. Not-For-Profit Organisations
    7. Introduction to Business Taxation
    8. Income Tax business basics
    9. Fringe Benefits Tax
    10. Superannuation Guarantee
    11. Payroll taxes
    12. Stamp duty
    13. Land tax
  • Module 3 - Big bucks for business...payroll, activity statements and computing
    1. Setting up the company file using MYOB or XERO
    2. Creating contacts
    3. Modifying the Chart of Accounts
    4. Recording day to day transactions – sales, purchases & journals
    5. Reconciling accounts – bank, stock, payables and receivables.
    6. Essential reporting – Trial Balance, Profit & Loss, Balance Sheet.
    7. Understanding payroll
    8. Payroll calculations
    9. Setting up payroll
    10. PAYG withholding tax
    11. Processing payroll Leave entitlements
    12. Maintaining the system
    13. Providing BAS Services
    14. PAYG and Instalment Activity Statements
    15. The Goods and Services Tax
    16. The Mechanics of GST and the BAS
    17. Methods for calculating GST Liability
    18. Luxury Car Tax
    19. Fuel Tax Credits
    20. Wine Equalisation Tax
    21. Fringe Benefits Tax
    22. Alternative GST & BAS accounting methods
    23. Completing the Business Activity Statement
    24. Activity statement lodgements and payments
  • Module 4 - Clever calculations and procedures...professional practices
    1. Key rules of mathematics
    2. Break even analysis and graphs
    3. Business calculations – percentages, interest, annuities, depreciation
    4. Percentage calculations for business Interest
    5. Calculating exempt income
    6. Understanding the tax implications for annuities and foreign pensions
    7. The role of the bookkeeping profession
    8. Engaging with clients
    9. Letter of Engagement
    10. Client questionnaires
    11. Business types and their accounting
    12. Continuing Professional Education
    13. Understanding procedures and policies
    14. Defining the Financial Services Industry
    15. Sustainability Issues
    16. Managing Information
    17. Team work and time management
    18. Documentation and design
    19. Industry Legislation, Regulation and Codes of Practice
    20. Working with Company Policies and Procedures
  • Features

    Amazing support each and every time

    Online Study or Workshops
    Online Study (Self-Paced)
    • Easy-to-read course materials (including a posted Textbook & accompanying Workbook)
    • Choice of MYOB or Xero (Student Edition)
    • Videos and Webinars
    • Telephone Support from our Accredited Trainers
    • Support using Teamviewer and Skype from our Accredited Trainers
    • Email Support from our Accredited Trainers
    • Online Assessments
    • Online Student Forums
    Workshops (Face-to-face)           Online Study Support PLUS

    • Workshop contact days: 12 days
    • Facilitated by expert industry qualified trainers


  • Online vs workshops

    Online Learning – any time, any place, with maximum flexibility

    Online learning allows you to start a course when and where it is convenient for you to study. It is particularly popular with stay-at-home parents, full time employees, or anyone seeking maximum flexibility because you can choose the pace you study (fast or slow).

    You are very well supported throughout your course. A dedicated Online education support team allows you to discuss your course work on a one-on-one basis with a specialist Accounting Trainer. Your Accounting Trainer is happy to contact you via phone, Skype, Teamviewer, or email between Monday to Friday 9am to 5pm as you progress through the course, so you definitely won’t feel alone. You also have access to Online discussion forums via Monarch’s state-of-the-art learning management system providing access to an online learning community of fellow students.

    Please CLICK HERE for more information about studying Online with Monarch.

    Face-to-Face workshops – CBD training nationwide

    We offer intimate ‘small class room’ training (i.e. no more than 15 students per trainer) at our state-of-the-art training facilities just minutes from the CBD in all major States. All  training materials are included in our prices.

    Workshop interest varies across locations and times of the year. We would be pleased to record your interest in any of our face-to-face courses and will let you know as soon as the course is confirmed to proceed.

    Your office

    Monarch Institute provides onsite training for group instruction (minimum 6 staff). Please call us or email us, if you represent a company or organisation with more than 6 staff that require face-to-face workshops conducted at your office.

  • Government funding

    We offer Government subsidised AND Australia-wide standard fee places. As a National training provider with training venues in Melbourne, Sydney, Brisbane, Perth and Adelaide, the majority of our students are NOT eligible for additional Government Funding if they live outside the State of either Victoria or Queensland. Please know, Monarch provides fantastic training to students across every State of Australia, all at great prices! Please don’t hesitate to contact our friendly course consultants if you have any questions on 1300 738 955.

    If you live in Victoria or Queensland, Monarch has Government funded placed for 2017.

    To see if you are eligible for a Government Funded place, please CLICK HERE to see the criteria or contact one of our friendly course consultants on 1300 738 955 to learn more.

  • Pricing

    FNS40215 Certificate IV in Bookkeeping – Detailed Pricing

    You can choose to enrol in the FULL FNS40215 Certificate IV in Bookkeeping or alternatively you can enrol in just individual units (see prices below). There are substantial savings when enrolling in the FULL course.

    Please note: all students will receive the choice of MYOB or Xero Software (student edition) FREE of charge.

    Certificate IV in
    Bookkeeping units
    Online (self-paced)
     BAS & Payroll only  $895  $1,400
    Certificate IV in
    $1,950 $3,900 – 12 days
    (includes 2 days of
    MYOB or Xero)

    ^All students studying at Monarch Institute are regarded as undertaking a course or qualification by Online education. Students may also choose to attend optional workshops which are facilitated by a recognised industry expert (‘trainer’), in this instance an Accounting Professional. All Monarch trainers are nationally recognised trainers and assessors under the Australian Quality and Framework (AQF). To successfully complete the FNS40215 Certificate IV in Bookkeeping, pre-reading, attendance at optional workshops (if applicable), self-study and post-workshop assessments is required. For further information, refer to Monarch Institute’s Student Information Guide.

  • Duration

    Is there a maximum course completion time?

    Yes – you have up to 2 years to complete the qualification, and many complete it in less time. 

    We find our students complete the FNS40215 Certificate IV in Bookkeeping in varying time frames. It really does depend on your life situation, and time availability. There is also a requirement that you complete each module within 6 months (i.e. 4 modules times 6 months = 2 years maximum).

    Is there a minimum course completion time?

    No – there is no minimum course time-frame. 

    Students can complete the qualification as quickly as they choose.

    What is the average course completion time-frame?

    Volume of learning: We have found students that are genuinely motivated to progress through the course are able to complete the full course in as little as 9 months. Other students that have no experience or understanding of key concepts in Bookkeeping and Accounting take closer to 2 years.The key factors that influence course completion is a student’s experience, time availability and work rate.

  • Assessments

    Monarch has carefully structured its Assessments to include a variety of formats which will enhance your understanding:

    • Case studies
    • Multiple choice questions
    • Short Answer questions
    • Calculation questions
    • Accounting Software simulation questions

    Check your English and Maths ability by CLICKING HERE

  • Accreditation

    Monarch Institute’s FNS40215 Certificate IV in Bookkeeping and is Government accredited. It has National recognition under the Australian Qualifications Framework (AQF) meaning it can be used as a pathway to university qualifications, nationwide.

    Units of competency:

    To be awarded a FNS40215 Certificate IV in Bookkeeping: 13 units of competency are required for award of this qualification. If you choose to upgrade to the Dual Qualification, an additional 1 unit of competency is required. Please CLICK HERE here for more information.

    The nationally recognised units of competency listed below are packaged into 4 modules:

    National Code  Unit Title
    Module 1 Establishing solid foundations…accounting fundamentals
    FNSACC301 Process financial transactions and extract interim reports
    FNSACC302 Administer subsidiary accounts and ledgers
    BSBFIA401 Prepare financial reports
    FNSACC405 Maintain inventory records
    Module 2 Show me the money! Financial statements and taxation
    FNSACC404 Prepare financial statements for non-reporting entities
    FNSACC401 Process business tax requirements
    Module 3 Big bucks for business…payroll, activity statements and computing
    FNSACC406 Set up and operate a computerised accounting system
    FNSBKG405 Establish and maintain a payroll system
    FNSBKG404 Carry out business activity and instalment activity statement tasks
    Module 4 Clever calculations and procedures…professional practices
    FNSACC303 Perform financial calculations
    FNSBKG401 Develop & implement policies & procedures relevant to bookkeeping activities
    FNSINC401 Apply principles of professional practice to work in the financial services industry
    BSBITU306 Design and produce business documents


  • Career opportunities

    The accounting and bookkeeping industry is an exciting industry experiencing considerable growth, with many rewarding career opportunities. Successful completion of this course can lead to a variety of careers, including starting your own bookkeeping business offering a great lifestyle potential.  Other exciting roles this qualification is suited to include; a certified bookkeeper (employee or business owner), any business owner looking to take control of their finances, a registered BAS agent (as an employee or business owner) subject to meeting the conditions set out by the Tax Practitioners Board, roles responsible for accounts receivable and/or payable, financial officers, as well as roles responsible for procurement and office administration.

    Some interesting statistics about the growth potential of bookkeeping

    According to the ATO and Australian Bureau of Statistics, there are over 2 million privately owned small businesses – each having less than $2 million in annual turnover. Additionally, there are 175,000 small-to-medium enterprises (SME’s) in Australia with an annual turnover between $2 million and $250 million, with 98% of those being privately owned. And then there are large multi-national corporations that employ huge numbers of accounts department staff.

    Small-to-medium enterprises (SME’s) and larger corporations generally hire full time and part-time bookkeepers and accounts persons – a great career opportunity for a qualified bookkeeper who has completed the Certificate IV in Bookkeeping.

    Running your own Bookkeeping business

    Significant job opportunities exist for bookkeepers in the 2 million plus small businesses in Australia requiring bookkeeping services on a weekly, fortnightly or monthly basis.

    Small businesses often don’t require full-time bookkeepers or accounts department employees because they are too small. However, they still need some sort of bookkeeping services provided on a part-time or contract basis. Many of these business owners are too busy or don’t have the knowledge or skills to perform the work properly. Many are increasingly outsourcing this function to self-employed bookkeepers – a great career opportunity for a qualified bookkeeper who has completed the FNS40215 Certificate IV in Bookkeeping looking to work for themselves. This move if done successfully can lead to a flexible schedule, control over your livelihood, and the financial rewards that flow from self-employment in a growth area over time. However self-employment does require a degree of entrepreneurship, and the early days can be challenging. If you can overcome those challenges, self-employed bookkeepers can build up a profitable business over time. For example, they may provide bookkeeping services to multiple small businesses in any given week on a contract basis (say 5 hours per week or fortnight, per company). This allows the self-employed bookkeeper to choose a flexible schedule, and the ability to work when and how much they want. Once business grows and it is difficult to service all clients adequately, there is the option to hire staff and make a profit margin on staff contributions too. There is also the possibility of performing some of the work from home, if clients use cloud based computing.

    In summary bookkeeping is an exciting industry because it has many rewarding career opportunities for aspiring employees in large corporations or small-to-medium size enterprises (SME’s). It also genuinely offers the opportunity for self-employment.

    What job roles exist?

    • BAS Agent
    • Bookkeeper
    • Accountant
    • Bookkeeping and small practice accounting
    • Assistant accountant
    • Accounts officer/clerk
    • Payroll officer/clerk
    • Accounts receivable credit/controller
    • Financial controller (small to medium businesses)
    • Taxation officer
    • Treasury officer
    • Procurement officer
    • Analyst (financial reporting focus)
  • Study pathways

    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 Certificate IV in Bookkeeping. This may be through formal or informal training and can result in credits towards your qualification. More information about RPL is contained in Monarch’s Student Information Guide

    What can I study next?

    You can enrol in the Diploma of Accounting with Monarch Institute as a study pathway, after successfully completing the Certificate IV in Bookkeeping.