FNS40615 – Certificate IV in Accounting (SMSF)


Click on the unit code below for more information about each unit in this course.

BSBFIA401 – Prepare financial reports

This unit describes skills and knowledge required to record general journal adjustment entries and to prepare end of period financial reports.

It applies to individuals who are responsible for preparing SMSF financial reports. They may be individuals providing administrative support within an enterprise, or they might be trustees of their own SMSF.

Topics covered in this unit include:

  1. Maintain an asset register
  2. Record general journal entries for balance day adjustments
  3. Prepare final general ledger accounts
  4. Prepare end of period financial reports

Unit Outcomes

Upon successful completion of this unit students will be able to prepare and interpret an SMSF Income Statement and SMSF Statement of Financial Position.

BSBITU306 – Design and produce business documents

This unit describes the skills and knowledge required to design and produce various business documents and publications. It includes selecting and using a range of functions on a variety of computer applications.

It applies to individuals who possess fundamental skills in computer operations and keyboarding. They may exercise discretion and judgement using appropriate theoretical knowledge of document design and production to provide technical advice and support to a team.

Topics covered in this unit include:

  1. Select and prepare resources
  2. Design documents
  3. Produce documents
  4. Finalise documents

Unit Outcomes

Upon successful completion of this unit students will be able to design and proofread documents for readability, accuracy and consistency of language, style and layout prior to final output.

BSBITU402 – Develop and use complex spreadsheets

This unit describes the skills and knowledge required to use spreadsheet software to complete business tasks and produce complex documents.

It applies to individuals employed in a range of work environments who require skills in creation of complex spreadsheets to store and retrieve data. They may work as individuals providing administrative support within an enterprise, or may be independently responsible for designing and working with spreadsheets relevant to their own work roles.

Topics covered in this unit include:

  1. Prepare to develop spreadsheets
  2. Develop a linked spreadsheet solution
  3. Automate and standardise spreadsheet operation
  4. Use spreadsheets for business
  5. Represent numerical data in graphic form

Unit Outcomes

Upon successful completion of this unit students will be able to create functional spreadsheets by entering data, importing and exporting data, using formula and creating graphs.

BSBWRT301 – Write simple documents

This unit describes the skills and knowledge required to plan, draft and finalise a basic document.

It applies to individuals who apply a broad range of competencies in various work contexts and may exercise some discretion and judgement to produce a range of workplace documentation.

Topics covered in this unit include:

  1. Plan documents
  2. Draft documents
  3. Review documents
  4. Write final document

Unit Outcomes

Upon successful completion of this unit students will be able to prepare documents and templates suitable for internal and external communications.

FNSACC301 – Process financial transactions and extract interim reports

This unit describes the skills and knowledge required to prepare and process routine financial documents, prepare journal entries, post journals to ledgers, prepare banking and reconcile financial receipts, and extract a trial balance and interim reports.

It applies to individuals who use specialised knowledge and follow agreed processes to carefully check and process detailed financial information to ensure standards are maintained.

Topics covered in this unit include:

  1. Check and verify supporting documentation
  2. Prepare and process banking and petty cash documents
  3. Prepare and process invoices for payment to creditors and for debtors
  4. Prepare and post journals and batch monetary items
  5. Post journals to ledger
  6. Enter data into system
  7. Prepare deposit facility and lodge flows
  8. Extract trial balance and interim reports

Lecture Notes

Upon successful completion of this unit students will be able to enter data into an accounting system, reconcile bank accounts and prepare a trial balance.

FNSACC302 – Administer subsidiary accounts and ledgers

This unit describes the skills and knowledge required to reconcile and monitor financial accounts receivable systems, identify bad and doubtful debts and plan a recovery action, and remit payments to sundry creditors.

It applies to individuals who use specialised knowledge and follow agreed processes to problem solve within their area of responsibility.

Topics covered in this unit include:

  1. Review accounts receivable process
  2. Identify bad and doubtful debts
  3. Review compliance with terms and conditions and plan recovery action
  4. Prepare reports and file documentation
  5. Distribute creditor invoices for authorisation
  6. Remit payments to creditors
  7. Prepare accounts paid report and reconcile balances outstanding

Unit Outcomes

Upon successful completion of this unit students will be to complete the accounts receivable and accounts payable cycles.

FNSACC303 – Perform financial calculations

This unit describes the skills and knowledge required to use a range of common calculation methods and techniques for conducting routine financial calculations and transactions.

It applies to individuals who use literacy and numeracy skills to perform common computational tasks as part of an operational job role.

Topics covered in this unit include:

  1. Obtain data and resources for financial calculations
  2. Select appropriate methods and carry out financial calculations
  3. Check calculations and record outcomes

Unit Outcomes

Upon successful completion of this unit students will be to perform financial calculations using a calculator and spreadsheets.

FNSACC402 – Prepare operational budgets

This unit describes the skills and knowledge required to prepare and document operational budgets for a variety of organisations.

It applies to individuals who use specialised knowledge and systematic approaches to undertake strategic financial activity for an organisation.

Topics covered in this unit include:

  1. Prepare budgets
  2. Set budget timeframes
  3. Document budgets

Unit Outcomes

Upon successful completion of this unit students will be to prepare prepare budgets, identify milestones and seasonal trends, and prepare budget reports.

FNSACC404 – Prepare financial statements for non-reporting entities

This unit describes the skills and knowledge required to develop a range of commonly required financial reports for entities that do not have a statutory duty to file financial reports with government agencies and regulators.

It applies to individuals who use specialised knowledge and systematic approaches to collate and prepare financial information.

Topics covered in this unit include:

  1. Compile financial data
  2. Prepare reports

Unit Outcomes

Upon successful completion of this unit students will be to check financial data to ensure consistency and accuracy and prepare and present financial data in reports, charts and diagrams using specialist SMSF accounting software.

FNSACC406 – Set up and operate a computerised accounting system

This unit describes the skills and knowledge required to modify and operate an integrated computerised accounting system. This is generally under supervision and encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity.

It applies to individuals who within their area of responsibility use specialised knowledge, information technology and coordination skills to establish and maintain an organisational system.

Topics covered in this unit include:

  1. Implement an integrated accounting system
  2. Process transactions within the accounting system
  3. Maintain an accounting system
  4. Produce reports
  5. Ensure system integrity

Unit Outcomes

Upon successful completion of this unit students will be to set up an SMSF accounting system, process a variety of transactions and produce year end reports. Students will also understand the need to regularly back up data and maintain data security.

FNSBKG404 – Carry out business activity and instalment activity statement tasks

This unit describes the skills and knowledge required to identify and apply compliance requirements to effectively process and complete business activity statements (BAS), instalment activity statements (IAS) and other required reports.

It applies to individuals who use a range of organisational and analytical techniques to work within organisations or to supply specific bookkeeping services as a small business owner or contractor.

Topics covered in this unit include:

  1. Identify individual compliance and other requirements
  2. Recognise and apply GST implications and code transactions
  3. Report on payroll activities and amounts withheld
  4. Complete and reconcile activity statement
  5. Lodge activity statement

Unit outcomes

Upon successful completion of this unit students will gain knowledge of the legislative and regulatory requirements relevant to providing a tax agent service, including various taxation laws and privacy law. Students will gain an understanding of the GST principles and GST classifications specific to the superannuation industry.  The final focus of the unit addresses the financial liabilities and BAS payment options for an SMSF.

FNSBKG405 – Establish and maintain a payroll system

This unit describes the skills and knowledge required to record and prepare payroll documentation, respond to enquiries and process accurate payroll data for manual and computerised systems.

It applies to individuals who use a range of organisational and other specialist techniques. They may work directly for organisations or be small business owners, contractors or service providers.

Topics covered in this unit include:

  1. Establish payroll requirements
  2. Record payroll data
  3. Prepare and process payroll
  4. Handle payroll enquiries
  5. Maintain payroll

Unit outcomes

Upon successful completion of this unit students will be able to prepare and maintain a payroll system and payroll records.

FNSINC401 – Apply principles of professional practice to work in the financial services industry

This unit describes the skills and knowledge required to identify industry professional approaches to procedures, guidelines, policies and standards, including ethical requirements, and to model and meet expectations of these in all aspects of work.

It applies to individuals who work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.

Topics covered in this unit include:

  1. Identify scope, sectors and responsibilities of industry
  2. Identify and apply guidelines, procedures and legislation
  3. Identify sustainability issues
  4. Manage information
  5. Participate in and facilitate work team activities
  6. Plan work to be completed
  7. Develop and maintain personal competency

Unit Outcomes

Upon successful completion of this unit students will understand the financial services industry and apply the code of practice with an ethical approach and identify and review personal professional development needs and goals on regular basis.