Accounting Principles Skill Set
FNSSS00014
Duration: Up to ten months
Price: $1,924 upfront | $88.80 per week (payment plan)
How it works: Study online. With a difference.
Start date: Immediately, or whenever you're ready.
Entry requirements: RPL available | Some equipment needed
Qualification Type: Skill Set
Completion of your Accounting Principles Skills Set may provide a pathway to becoming a registered BAS agent.
Completion of your Accounting Principles Skills Set may provide a pathway to becoming a registered BAS agent.
Pathway to full accounting qualifications
Nationally recognised
Course Summary
Completion of your Accounting Principles Skills Set may provide a pathway to becoming a registered BAS agent. Monarch Institute's courses are 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.
Study accounting or bookkeeping with us and you’ll get practical training that makes use of industry leading software. It’s all about making you job-ready from the moment you graduate.
Accounting is an industry that’s enjoying considerable growth and, upon completion of this course, it’s one that will open up a variety of career paths.
Completing a full Diploma in Accounting can open up opportunities such as:
Registered tax agent
Budget analyst
Financial analyst
Accounting manager
Financial controller
Forensic accountant
Management accountant
Financial accountant
Auditor
Government accountant
Chief Financial Officer (CFO)
Your career potential may open up further as you pursue higher level qualifications.
This course is designed to be completed within 10 months.
Students who are highly motivated and well organised can complete the full course at an accelerated pace.
The key factors that influence course completion are a student’s experience, time availability, how fast they work and how committed they are!
Study online. With a difference.
You’ll get:
Easy-to-follow course materials
Videos and webinars
Heaps of support from your course trainers (phone, email, Zoom, TeamViewer)
A dedicated admin team on hand to guide you
Online assessments
Student Facebook group
How does it work?
This skill set 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.
What support will I get?
Your trainer will be happy to contact you via phone, 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.
Assessment formats include:
Multiple-choice questions
Short-answer questions
Workplace scenarios
Calculation questions
Role-plays -video self-recording and upload of the file
Accounting software exercises
TPB required assessments (see below)
Supervised Assessments
The Tax Practitioners Board (TPB) requires supervision arrangements for a portion of the assessments in the following units:
FNSTPB411 Complete business activity and instalment activity statements
FNSTPB412 Establish and maintain payroll systems
This supervision is provided by Monarch Institute as part of your course fee. We do not charge any additional supervision fees.
These 2 units contain 3 supervised assessments which include multiple choice questions and short answer or calculation questions. Each assessment is open book and you have up to 3 hours to complete each assessment.
Supervision for assessments can be booked as a scheduled Zoom session with Monarch invigilators once you commence your course. You will need a webcam on your device, as well as internet access.
IMPORTANT: Further requirements for becoming a registered BAS agent
Immediately, or whenever you're ready. Get in touch about enrolling
"The course is clear and concise, well structured and easy to follow. Support from the staff was beyond compare, all emails were answered within one business day and no questions was too silly to ask."
- Ruthie V, Accounting Student
Entry Requirements
There aren’t any formal prerequisites. But to make sure you get the most out of training with us, the following enrolment process applies:
Once we receive your enrolment, our friendly course consultants will touch base to undertake a pre-training review to ensure the training is right for you.
For students without an equal or higher level qualification, there’s a short language, literacy and numeracy quiz you complete online.
We may be able to take into account relevant knowledge and skills you’ve gained through previous formal or informal training, education and employment. To find out if you are eligible for recognition of prior learning, email your resume and academic transcripts to info@monarch.edu.au and one of our Course Consultants will be in touch.
You will need access to the following equipment to successfully complete the course:
Working computer with Microsoft Office (2016 or later)
Access to the internet
Access to a smart phone, video camera or web camera is required
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Take the short quiz to see if this course is right for you.
Pathways
On completion of this course, you will receive six credits towards the FNS40222 Certificate IV in Accounting and Bookkeeping.
The following pathways are available after completing this Skill Set:
Partial credit transfer towards the Certificate IV in Accounting and Bookkeeping
Meets the entry requirement for the Diploma of Accounting
More Accounting Courses offered by Monarch Institute Include:
Part Courses
FNSACC321 Process financial transactions and extract interim reports
FNSACC322 Administer subsidiary accounts and ledgers
FNSACC421 Prepare financial reports
FNSACC418 Work effectively in the accounting and bookkeeping industry
FNSACC426 Set up and operate a computerised accounting system
FNSTPB411 Complete business activity and instalment activity statements
FNSTPB412 Establish and maintain payroll systems
Pathway to full accounting qualifications
The following pathways are available after completing this Skill Set:
Partial credit transfer towards the Certificate IV in Accounting and Bookkeeping
Meets the entry requirement for the Diploma of Accounting
50% of the entry requirements for the Advanced Diploma of Accounting
Nationally recognised
The seven units of competency in this course are nationally recognised under the Australian Qualifications framework. In addition to entry in to the Diploma of Accounting (FNS50222), you may also be able to use the units to reduce study time if you move on to another relevant higher education qualification course.
Accounting training. For the real world.
Check out our reviews
Frequently Asked Questions
We designed the skill set for people who want to meet the entry requirements for the Diploma of Accounting without completing a full certificate first. It also suits you if you handle accounts in a small business and want formal recognition for that work. You can enrol without prior qualifications, though you’ll complete a short language, literacy and numeracy quiz if you don’t already hold an equivalent qualification.
You’ll complete seven nationally recognised units covering the core of accounting practice. You’ll learn to:
Process financial transactions and extract interim reports
Administer subsidiary accounts and ledgers
Prepare financial reports
Set up and operate a computerised accounting system
Complete business activity and instalment activity statements
Establish and maintain payroll systems
You’ll also learn to work effectively within the accounting and bookkeeping industry.
Yes, you’ll work through course materials and videos online, at whatever pace your week allows. Your trainer will answer your questions by phone, Zoom or email between 9am and 5.30pm from Monday to Friday. Two of your units require supervision under Tax Practitioners Board rules, so you’ll book the supervised assessments as Zoom sessions with our invigilators.
A skill set covers fewer units than a full qualification. You’ll complete seven units here compared with 13 in the Certificate IV in Accounting and Bookkeeping, which also teaches spreadsheet design, operational budgets, financial statements for non-reporting entities and planning finances for new businesses. Once you finish this skill set, you’ll receive six credits towards that certificate so you can continue your studies.
Yes. You’ll set up and operate a computerised accounting system, complete activity statements and establish payroll systems, which are tasks bookkeepers and accounts staff handle on a regular basis. The skill set doesn’t have any exams. Instead, it has practical assessments that include workplace scenarios and accounting software exercises, so you’ll practise each task the way you’d approach it on the job.
It can. Completing it meets the entry requirements for our Diploma of Accounting and covers half the entry requirements for the Advanced Diploma of Accounting. You’ll also receive six credits towards the Certificate IV in Accounting and Bookkeeping. Because all seven units are nationally recognised, you may be able to reduce your study time in other relevant qualifications too.
We designed this skill set to be completed within 10 months. You can work faster if you have the time, since everything is self-paced and there is no minimum period. How long you take to complete it depends on your previous study, work experience and how many hours you can commit each week.
The skill set works best as a step towards the Diploma of Accounting, since completing it meets the entry requirements. The Certificate IV includes six additional units, giving you broader training across bookkeeping and accounting. If you’re looking for a broader standalone qualification in bookkeeping or accounting, the Certificate IV in Accounting and Bookkeeping may be the better option, as it covers additional units and leads to a full qualification.
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