The financial services sector is the second largest industry in Australia, and it’s growing fast. So, if you’ve always wanted to pursue a career in accounting or the financial services industry, this course takes you in the right direction.
Certificate of Accounting is an online professional development course that will help you manage budgets and prepare financial reports.
In this accounting course, you will learn about budget management and forecasting, financial reports and taxation, compliance, corporations law and tax legislation and management accounting. You will also learn crucial soft skills, including attention to detail, customer service, interview techniques and decision-making that are important to the accounting sector. Xero training resources are also included in this program.
On completion of this course, you will have a solid foundation of knowledge in accounting and financial services to pursue a career in the accounting and financial services industry.
Course Structure
Unit 1 - Provide financial and business performance information
- Client expectations, goals and objectives
- Client information forms (CIF)
- Small, medium and large businesses
- Company officers and board of management
- Financial institutions
- Inline management
- Partnerships and incorporated
- External reports
- Unincorporated organisations
- Shareholders and sole traders
- Objectives, consistency and efficiency
- Financial plan
- Legal and financial requirements
- Reconciling depreciation and GST
- Business structure
- Adjustment of borrowings
- Asset liquidation
- Funding alternatives
- Accounts receivable management
- Business plans
- Long and short term financial requirements
- Suitable business structure
- Working capital needs
- Cash flow forecasting (CFF)
- Budgeting
- Revenue controls and expense controls
- Inventory management
- Net present values(NPV)
- CEO’s and FO’s
- Organisational policy
- Reconciling and financial statements
- Profitability, efficiency and stability
- BAS requirements
- PAYG obligations
- Compliance
- Presentation of financial information
- Debtor fault
- Corporations law
- Taxation legislation
Unit 2 - Prepare tax documentation for individuals
- Consult with client
- Determine tax documentation preparation requirements
- Compliance requirements
- Tax invoices
- Adjustment notes, credit notes and receipts
- Tax obligations
- The business unit
- Classification of income
- Allowable and general deductions
- Market value and asset value
- Net realisable amounts
- Calculation based on gross margins
- Retail inventory method
- Calculating depreciation
- Prime cost methods
- Financial and system discrepancies
- Accrual and cash accounting
- Prepaid income
- Prepaid expenses
- Income statements
- Calculating clients tax obligations
- Annual PAYG instalment notice
- Income tax lodgement
- Tax tables
- Medicare levy surcharge
- Health rebates
- Seniors tax offsets
- Calculating capital gains tax or losses
- GST and fringe benefits tax (FBT)
- Benefits and allowances
- Medical expenses tax offset
- Superannuation
- Family tax benefit A and B
- Tax free income
- Specialist advice
- Integrity and privacy legislation
- Obtain client signature, authorisation and endorsement
- Tax file numbers
- Who needs to lodge a tax return
- Submitting documentation to the ATO
- Statement of changes in equity
- Inventory usage reports
- Ordering supplies
- Tax practitioners Board (TPB)
- Tax agent services
- ATO reviews and audits
- ATO expectations
Unit 3 - Manage budgets and forecasts
- Budget objectives
- Sales and expenditure budgets
- Master budgets
- Cash budgets
- Production budgets
- Labour budgets
- Overhead budgets
- Budgeted state of financial performance
- Financial and capital budgets
- Cash flow budgets and controls
- Reporting expenditure
- Capital budgets
- Accruals
- Rolling forecasts
- Variable expenditure
- Contribution margin
- Breakeven point analysis
- Highlighting milestones
- Forecasting data
- Qualitative forecasting
- Budget assumptions and parameters
- SWOT analysis
- Estimates of cash flow, costs and revenues
- Cash receipts forecast
- Financial risks and protection strategies
- Budget formats
- Calculating GST
- Statement of financial position
- Completing reports
- Comparing projections with market growth and development
- Not for profit (NFP projects)
- Budget variances and variance reporting
- Budget audits
Unit 4 - Prepare financial reports for corporate entities
- Code, classify and check data
- Raw data and knowledge
- Extracting data from established systems
- Data coding
- Accrual accounting
- The principle of double entry
- The balance sheet
- Accurate account keeping
- The Australian Accounting Standards Board (AASB)
- Codes of conduct and license requirements
- Data conversion
- Data consolidation process
- Data reconciliation
- Transferring data to computerised systems
- Shrink wrapped software
- Entering data
- Valuing assets and inventory
- Calculating and recording depreciation
- Perpetual or periodic recording systems
- Cost method
- Net realisable value
- Calculations based on gross margins
- Retail method
- The cash system
- Records management (Australian standard)
- Tax invoices
- Purchase orders
- Non-cash transactions
- Taxation reporting requirements
- Adjustments
- Input tax events
- Lodgement schedules
- Filing systems
- FBT tax returns
- PAYG withholding annual reports
- Superannuation guarantee levy
- Processing and organising data
- Data formats (charts and tables)
- Presenting information
- Delegated authorities
- Lodging annual reports with ASIC
- Conflict of interest
- Confidentiality
- Structure and format of reports
- Laws and regulations
- Effective internal controls
- Reporting against budgets
- Analysing results against budgets
- Examination of the figures
- Penalties
- The accounting cycle
- Profit and loss reports
- Statement of retained earnings
- Statement of assets and liabilities
- Review statements for errors
- Journals
- Cash flow statements
- Preparing a cash flow projection (4 steps)
- Chart of accounts
- Activity statements
- Annual GST information report
- Transactions not reported in total sales
Unit 5 - Implement and maintain internal control procedures
- Corporate governance and ethical requirements
- Partnerships, corporations, and companies
- Principles of corporate governance
- Legislation
- Delegated authorities
- Key principles in a corporate governance statement
- Australian Prudential Regulation Authority (APRA)
- Australian Securities and Investments Commission (ASIC)
- Financial services reform legislation
- Australian Securities Exchange (ASX)
- 10 corporate governance principles
- Mandatory requirements and audits
- Australian Taxation Office (ATO)
- Asset registers
- Depreciation
- Professional associations
- Law and ethics
- Internal control procedures
- Three parts of the revenue statement
- Safeguarding and insurance assets
- Risk management
- Data protection and security
- Reliability and efficiency of financial reporting
- Produce, review and distribute reports
- Mandatory reporting
- Implementing corporate governance
- Internal vs external stakeholders
- Consulting with stakeholder groups
- Consultation steps
- Stakeholder engagement
- Detail and document internal control procedures
- Application of corporate governance
- Annual audited financial reports
- Taxation reporting deadlines
- Activity statements
- Annual GST report
- Transaction and auditable trails
- Integrity and ethical behaviour
- Variations in compliance
- The role of auditors
- Ignorance or misinterpretation of governance requirements
- Modifying internal control procedures
Unit 6 - Provide management accounting information
- Systems to generate operating and cost data
- Entering cash transactions
- General ledger and journals
- Systems to generate operating and cost data
- The cash system
- Accrual accounting
- Checking source documents
- Chart of accounts
- Double entry accounting
- Account systems
- Systems to generate operating and cost data
- Back up schedules
- Portability
- Code, classify and check data
- Developing and using data
- Accuracy and reliability of data
- Source documents
- Cost data
- Cost behaviour characteristics
- Differences between actual and applied overheads
- Job costing and assigning costs
- Manufacturing costs (materials and labour)
- Service costs
- Double entry accounting
- T accounts
- Invoicing
- Reconciliation procedures
- Non-cash transactions
- Balance sheets and profit and loss accounts
- Interpreting cost
- Financial cost analysis
- Cash flow statements and budgets
- Operating activities
- Costing information
- Cost budget and materials usage
- Labour usage budget
- Manufacturing overheads
- Cost centres
- Cost analysis and reporting
- Break even analysis
- Budget structure and format
- Job cost reports
- Service cost analysis
- Full cost accounting
- Variances again budget
- Zero-based budgeting
- Activity-based budgeting
- Budget variances and analysis
- Accurate reporting requirements
- Trail balance
- Depreciation and diminishing value
- Prime cost method
- Variance analysis
- Sales mix variance
- Perpetual inventory systems
Unit 7 - Work effectively in the accounting and bookkeeping industry
- Determine business needs and expectations
- Active listening
- Asking questions
- Interview techniques
- Code of ethics
- Code of professional conduct
- ATO office reports
- Software requirements
- Legislative and industry requirements
- Policies and procedures
- Industry codes of practice
- Flow charts
- Life cycle model
- Review and adapt systems
- Determine tasks to be done
- The consultation process
- Group decision making
- Objectives and strategies
- Time management
- Urgency of tasks
- Feedback to team members
- Identify areas for improvement
- Development opportunities
- Adapting to changes in technology
- Training needs analysis (TNA)
- Professional development needs
- Staff reviews
Unit 8 - Report on financial activity
- Property register
- Fixed asset register (FAR)
- Calculate depreciation
- Asset and liability valuations
- Financial and system discrepancies
- Tax liabilities
- Prepare a trial balance
- Adjust accounts for prepayments or accruals
- Adjust expense account and revenue accounts
- Common balance day adjustments
- General ledger adjustments
- Reverse adjusting entries
- Review data for errors and compliance
- Prepare revenue statement
- Prepare a balance sheet
- Post revenue and expenses to general ledger
- Closing entries
- Correct or refer errors
- Correct an incorrect posting
- Reverse and re-enter the transaction
- Double-entry and accrual principles
- Accounting systems
- Debit and credit rules
- The accounting equation
- Accrual accounting
- Legislation, regulations and standards
- Code of practice
- The Australian Taxation Office (ATO)
- Five basic bookkeeping principles
- The bookkeeping cycle
- Financial forecasting and analysis
- Ethical requirements
Study Hours
Estimated duration 120 hours
Course Delivery and Start
Start anytime, self-paced and 100% online
Assessment
Assessment will be comprised of written exercises, including short-answer questions, reflective tasks, short reports and/or projects. There are no examinations or due dates for assessment. As a result, you can complete training in your own time and at your own pace with the assistance of unlimited tutor support.
Testimonials
It was a nice experience studying through Australian Online Courses.
Alisha | Frankston North, VIC | Certificate of Accounting
I had a good experience studying online. My tutor was helpful when needed and marked my units at a good pace. I enjoy you can do the course at your own pace.
Blessing | Shanghai | Certificate of Accounting
My experience was good and the learning materials were easy to understand and asking for help was good.
Susan | Kilcunda | Certificate of Accounting
About Us
Graduation
A Certificate of Attainment and Statement of Results will be issued upon successful completion of this course.
How to Enrol
Enrol Online: Enrol Now
Enrol via Live Chat (Business Hours)
Enrol via Telephone 1300 76 2221 (Business Hours)
Enrol via Purchase Order/Tax Invoice
Enrolling Multiple Staff?
To enrol multiple staff, please complete the Employer Enrolment Form. We’ll be in touch within 60 minutes during business hours!
Payment Options
Visa, Mastercard, BPAY and EFT/Direct Deposit. Please allow 1-2 Business days for processing for EFT and BPAY.
Course FAQs
Why Choose Australian Online Courses?
- Professional development that is widely recognised and respected;
- Improve your employment opportunities;
- Study online, anywhere via our elearning system;
- High-quality professional development programs written by industry experts;
- All course materials provided online – no textbooks to buy;
- Unlimited tutor support via email;
- We offer twelve (12) months’ access, with extensions available upon application (fees apply);
- Course may be tax deductible; see your tax advisor.
Are there any entry requirements or pre-requisites?
There are no course or subject pre-requisites for entry into our programs. However, our professional development programs are generally intended for people over the age of 18. In some circumstances, enrolments from younger people may be considered. Please complete the AOC Parent Guardian Consent Form prior to enrolling and submit here.
Are there any computer requirements?
To study online with Australian Online Courses you will need a computer (desktop PC/laptop) running a current/updated operating system with reliable high-speed internet access. You will need to use the Google Chrome browser to access your course.
When can I start this course?
You can start within 60 minutes during business hours when you enrol and pay in full with a credit card!
Credit card: Within 60 mins during business hours.
BPAY: Within 1-2 working days.
Internet Banking: Within 1-2 working days.
Cheque/Money Order: Upon receipt of mailed cheque.
How is this course delivered?
This course is delivered online via our easy-to-navigate Learning Management System (LMS), where you will discover interactive online learning/written content, resources and assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our LMS and there are no work placement requirements in this course.
What support can I expect from Australian Online Courses?
Unlimited tutor support is available throughout your studies via email only during business hours Monday to Friday. Our Administrative team are available Monday to Friday via email, live chat and telephone.
I am an international student. Can I enrol into this course?
Yes! We accept enrolments from individuals both within Australia and internationally; location is no barrier to entry into our programs.
Career Pathways
Future growth
Strong
Unemployment
Low
Professional Development for:
- Bookkeeper
- Payroll manager
- Assistant accountant
- Accounts supervisor
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