Key Benefits

Victorian Government Funding Available

This training is delivered with Victorian and Commonwealth Government funding for eligible students. Please check the eligibility requirements here, or get in touch to discuss your funding options.

TPB approved course

We’re an approved course provider with the Tax Practitioners Board (TPB).

The Diploma in Accounting is your big step forward to becoming a registered Tax Agent. You can also study tax law online.

Free Membership

Get free student membership into the Institute of Public Accountants (IPA) and the Institute of Certified Bookkpers (ICB) when you enrol.

Membership gives you access to wide range of resources you can use to help kick off your career. Click here to learn more.

Nationally recognised

Want a qualification that’s recognised all over Australia? You’ve come to the right place. The FNS50222 Diploma of Accounting may be used as a pathway to undergraduate level qualifications at universities around Australia.

Course Accreditation

You’ll need to complete each of these 11 nationally recognised units of competency in order to be awarded your Diploma of Accounting. If you’re considering becoming a registered tax agent, you’ll need to complete three additional commercial law units.

Module 1

Financial reporting

FNSACC524 Prepare financial reports for corporate entities
BSBTEC402 Design and produce complex spreadsheets

Module 2

Budgets, management accounting and economics

FNSACC523 Manage budgets and forecasts
FNSACC527 Provide management accounting information
FNSACC521 Provide financial and business performance information

Module 3

Financial performance and internal control

FNSACC526 Implement and maintain internal control procedures
FNSINC611 Apply economic principles to work in the financial services industry

Module 4

Taxation

FNSACC522 Prepare tax documentation for individuals
FNSACC601 Prepare and administer tax documentation for legal entities

Module 5 (Optional – Tax Agent Certification)

FNSSS00005 Commercial Law for Tax Agents Skill Set

Commercial law

FNSTPB503 Apply legal principles in contract and consumer law
FNSTPB504 Apply legal principles in corporations and trust law
FNSTPB505 Apply legal principles in property law

TPB codes: MCL001 / MCL002 / MCL003

Credit Transfers

FNSACC321 Process financial transactions and extract interim reports
FNSACC418 Work effectively in the accounting and bookkeeping industry

Specialisations

Course Assessments

Assessment formats include:

Case studies
Multiple-choice questions
Short-answer questions
Calculation questions
Roleplays – video self-recording and upload of the file
TPB required assessments (see below)

Tax Agent Certification – Tax Practioner Board Supervision Requirements

The TPB requires some of your assessments to be supervised. This supervision is provided by Monarch Institute as part of your course fee. We do not charge any additional supervision fees.

The supervised assessment covers Australian tax law. There is a second supervised assessment if you have chosen to add the Australian Commercial Law module. These assessments do not need to be completed at the same time.

Each of the supervised assessments includes a quiz of 30 multiple choice questions and six 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.

Career Opportunities

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.

Key opportunities include:

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. And there are plenty of roles not on this list which your Diploma will help you tackle with confidence. For example, many employers value the logical and analytical thinking skills that students get from studying accounting.

IMPORTANT: Further requirements for becoming a registered tax agent

Pathways

When you finish your Diploma of Accounting, you’ll be ready to start working in a variety of different roles. If you’d like to pursue more senior accounting practice, you could consider the studying FNS60222 Advanced Diploma of Accounting online or applying to an undergraduate level accounting course at a university. You’ll have to check with the university of your choice whether you’ll receive any credit for the units you’ve undertaken in your Diploma.

If you’re looking to study part courses in accounting, Monarch Institute are proud to offer the following part courses:

Entry requirements

Course entry requirements*

Before starting the FNS50222 Diploma of Accounting, you’ll need to have completed the Certificate IV in Accounting and Bookkeeping or FNSSS00014 Accounting Principles Skill Set or hold these units or their equivalent:

FNSACC321 – Process financial transactions and extract interim reports
FNSACC322 – Administer subsidiary accounts and ledgers
FNSACC418 – Work effectively in the accounting and bookkeeping industry
BSBFIA401/FNSACC421 – Prepare financial reports

OR you’ll need to have completed one of these qualifications:

FNS40217 Certificate IV in Accounting and Bookkeeping
FNS40222 Certificate IV in Accounting and Bookkeeping

*You will need to send to us a transcript, record of results or statement of attainment showing the units you have completed. If you hold the actual qualification, you will need to also send us a copy of your certificate.

Monarch Institute offers the Accounting Principles Skill Set. Read more on the Accounting Principles skill set page. Completing this skill set is an affordable way to get yourself ready to study the Diploma. You’ll get a great learning experience, including full support from our trainers, and you’ll finish feeling confident about tackling the Diploma-level qualification.

What else is there?

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 is a short language, literacy and numeracy quiz you complete online.

What equipment will I need?

You will need access to the following equipment to successfully complete the course:

Working computer with Microsoft Office (2016 or later) and Microsoft Excel
Access to the internet
Access to a smart phone, video camera or web camera is required

Am I eligible for recognition of prior learning or credit transfer?

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 more, refer to our Student Information Handbook by clicking here, or get in touch with one of our friendly Course Consultants.

Course Topics

Module 1

Financial Reporting
Accounting for shares and debt
Reserves, provisions and dividends
Preparing statements of cash flow
Accounting for income tax for corporate entities
Preparation of cash flow statements
Preparing consolidated reports
Create, format and present spreadsheets
Use advanced functions of spreadsheet applications
Produce charts and complex spreadsheet documents
Link spreadsheets
Edit macros to automate some tasks

Module 2

Budgeting and management reporting

The budgeting process
Operating and capital budgets
Cash budgeting
Manufacturing budgets
Financial budgets
Flexible budgets and performance reporting
Understanding cost accounting flows
Measurements for allocating overhead costs
Preparing job-costing records
Understanding the concept of responsibility accounting
Determining cost-volume-profit analysis

Module 3

Financial performance information and internal control

Financial management for businesses
Understanding major sources of finance
Managing working capital
Understanding financial statements and ratios
Determining weighted cost of capital
Understanding dividend policy
Using capital budgeting techniques for decision making
Understanding how to conduct an internal audit and accounting-systems review
Implementing compliance testing
Financial Services industry regulation and codes of practice
Working with company policies and procedures
Grasp the principles of micro- and macro-economics
Business and market structures
Fiscal and monetary policy
Capital budgeting and structuring debt and equity
Portfolio theory: balancing risk and return
Financial regulation and capital requirements

Module 4

Taxation for individuals and legal entities

Determining assessable income
Calculating exempt income
Understanding tax implications for annuities and foreign pensions
Understanding termination payments
Determining tax for small-business entities
Calculating tax on trading stock
Understanding offsets and tax losses
Implementing tax administration
Dealing with income of minors
Understanding tax implications for trusts, partnerships and companies
Calculating tax for superannuation funds, fringe benefits and capital gains

Module 5

Tax agent certification – commercial law (optional)

Contract and consumer law
Corporations and trust law
Property law

Course Duration

This course is designed to be completed within 12-24 months.

There is no minimum timeframe to complete this course. 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!

How it works

More than online

You’ll get:

Easy-to-follow course materials
Videos and webinars
Heaps of support from your course trainers (phone, email, Zoom)
A dedicated admin team on hand to guide you
Online assessments
Student Facebook group

How does it work?

This course 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, 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.

Course Price

Upfront payment

$2,650 (total)

The most cost-effective option. Pay up front and save 20% compared to the total payment plan. Payment options include electronic funds transfer (EFT), credit card (Mastercard or Visa), cheque or cash.

Optional: add $1,600 for Tax Agent Certification Module.

Payment plan

$122.31 per week, paid over 26 weeks (total $3,180)

This option is suitable for people wanting to manage their cash flow. It’s handy if you want to get started right away, but don’t have the full amount on hand. Payment must be made with MasterCard or Visa.

Government funding

If you live in Queensland, you may be eligible for government funding for this course. Find out more here.

*Fees and units are subject to change.

Meet your trainers

Industry experts and thought leaders.

Michelle Ma
Trainer "A person who never made a mistake never tried anything new."
– Albert Einstein

I currently work in a mid-tier accounting firm as a senior accountant, and love it. I have over 8 years’ experience working as a business service accountant and tax consultant. I look after a portfolio of clients across various industries, and that’s really interesting. Observing different sector dynamics at play is fascinating. My skills include preparing financial statements, preparing tax returns, BAS, budgeting, cash flow analysis and tax consulting.

What makes me jump out of bed each morning?

I’m passionate about eating food. I love to try different cuisines in restaurants, and enjoy cooking as well. The bed time discussion generally starts with, ‘…what are we going to eat tomorrow’?

John Deininger
Trainer "The only choice we can make as a nation is the choice about our future."
- Hon Paul Keating

I am a qualified Chartered Accountant, with a career in financial services, working with both large and small chartered accounting firms, financial services businesses both in Australia and overseas and a mid-tier industry superannuation fund. I’ve worked in a volunteer capacity in the local community; I’m the treasurer of two community organisations.

What makes me jump out of bed each morning?

I enjoy the year-round wonders of the outdoors so close to Melbourne’s doorstep, while still hanging onto an inner city cosmopolitan life style, hopefully the best of both worlds. A bike, kayak, tent and xc skis are my most treasured possessions!

Natasha Daraio
Trainer "A leader is one who knows the way, goes the way and shows the way"
- John C. Maxwell

I have over 11 years’ industry experience working in various accounting roles – having worked as a tax accountant in private practice, a financial administrator in a solicitors firm and a financial planner in both private practices and in the banking industry. I moved into adult education 10 years ago following the birth of my third daughter and have taught at Gippstafe, Federation Training and Swinburne University.

I love travelling overseas – I’ve been in the lively New Orleans for the St Patrick’s day street party and even skydived on the north shore in Hawaii.

What makes me jump out of bed each morning?

My three daughters get me up each day! When I’m not busy working, you’ll find me curled up reading a book or asking one of my daughters to do something (for the millionth time!).

Elizabeth McLardy
"Be stronger than your strongest excuse. Be greater than your most negative voice.” – Alan Maiccon

Hello! I’m Liz, a CPA with 13+ years in finance, contributing to ASX 100 companies globally. I’ve trained aspiring accountants for a decade as a CPA program expert. I’m also a committed community leader, serving as a board member and treasurer for nonprofits. Beyond numbers, I’m a gardening enthusiast and nature lover. Family is my core, balancing professional and personal passions.

What gets me out of bed in the morning?

Family is at the heart of everything I do, and I cherish the moments spent with my loved ones.

Karin Graham

I’m an IPA Fellow specializing in Forensic Accounting with 30+ years of experience in corporate and small business accounting. I focus on enhancing internal controls to prevent fraud. I’ve worked in the UK and Europe, blending practical experience with teaching, earning ‘Teaching Excellence Awards.’

What makes me jump out of bed in the morning?

I used to skydive extensively but stopped in my late 20s to focus on family life with my spouse and four kids, along with a Labrador and three playful cats. For relaxation, I enjoy books, computer games, and binge-watching shows or podcasts.

Please complete the details below. Your dedicated course consultant will be in touch with you shortly.

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Duration	Up to two years
How it works	Study online. With a difference.
Price	$2,650 up front \| $122.31 per week (payment plan) \| Gov. funding if eligible
Career opportunities	Financial and management accounting roles \| Registered tax agent
Course topics	Four modules plus a fifth optional module
Units	11 units of competency \| Nationally recognised
Course trainers	Industry experts and thought leaders.
Pathways	FNS60222 Advanced Diploma of Accounting \| University courses
Entry requirements	There are entry requirements \| RPL available \| Some equipment needed
Assessments	Multiple small assessments \| Two 2 hour assessments for Tax Agent Certification
Start date	Immediately, or whenever you’re ready. Get in touch about enrolling

Accounting education. Study online today.

Diploma of Accounting

FNS50222

Key benefits

Accounting training. For the real world.

You need a different learning experience.We're ready to deliver.

Expertise

Flexibility

Support

How we rank

Any questions? Ask away!

Key Benefits

Victorian Government Funding Available

TPB approved course

Free Membership

Nationally recognised

Course Accreditation

Module 1

Financial reporting

Module 2

Budgets, management accounting and economics

Module 3

Financial performance and internal control

Module 4

Taxation

Module 5 (Optional – Tax Agent Certification)

FNSSS00005 Commercial Law for Tax Agents Skill Set

Commercial law

Credit Transfers

Specialisations

Course Assessments

Assessment formats include:

Tax Agent Certification – Tax Practioner Board Supervision Requirements

Career Opportunities

Key opportunities include:

Pathways

Entry requirements

Course entry requirements*

What else is there?

What equipment will I need?

Am I eligible for recognition of prior learning or credit transfer?

Course Topics

Module 1

Module 2

Budgeting and management reporting

Module 3

Financial performance information and internal control

Module 4

Taxation for individuals and legal entities

Module 5

Tax agent certification – commercial law (optional)

Course Duration

How it works

More than online

How does it work?

What support will I get?

Course Price

Upfront payment

Payment plan

Government funding

Meet your trainers

Industry experts and thought leaders.

Accounting education.
Study online today.

You need a different learning experience.
We're ready to deliver.