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Diploma of Accounting

FNS50222

  • Study online, anywhere and anytime
  • Get critical accounting knowledge and real-world skills
  • Become a registered tax agent – experience criteria applies
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Duration Up to two years
How it works Study online. With a difference.
Price $2,350 up front | $108.46 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
Payment Options There are two ways you can pay for your course...
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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.

Access to Sage HandiTax

When you enrol in this course you’ll get access to Sage HandiTax software. It’s the leading tax preparation software used by the Australian accounting profession.

This software will walk you through preparing tax returns for various entity types including individuals, partnerships, and companies.

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 to IPA

Get free student membership into the Institute of Public Accountants (IPA) 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

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

TPB codes: MCL001 / MCL002 / MCL003


Credit Transfers

Specialisations

Course Assessments

Assessment formats include:

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:

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:


What equipment will I need?

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


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


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

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:


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

$2,350 (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

$108.46 per week, paid over 26 weeks (total $2,820)

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 Dascal
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-deninger
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
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!).

Melissa Nettle
Melissa Nettle
"Why fit in when you were born to stand out?"
- Dr. Seuss

Over the past 25+ years I have worked in various roles within the financial services industry including being an Accounting Coordinator and working as a Trainer and Assessor for HR, Accounting, Bookkeeping and Business Administration courses.

I am a proud Mum of three beautiful daughter’s. In fact, I started and completed my accounting degree online whilst on maternity leave so I can relate to the struggles involved with juggling studying full time and being a Mum.

What makes me jump out of bed each morning?

The need for coffee! Also, every new day presents an opportunity to do something to help me feel fit, healthy and happy.

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
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.

Any questions? Ask away!