BI-575: FNS40210 Certificate IV in Bookkeeping

The course can be started at any time by distance learning (see estimated distance timetable), that is by correspondence, including PowerPoint slides, study and accounting guides, textbooks and assessments using Microsoft Word and MYOB, or taken in the classroom (see Bookkeeping classroom timetable).

The classroom course includes 14 days of lectures and self-paced MYOB courses. The assessments, together with homework and textbook study, are completed at your own pace in your own time, between classes or after the classroom delivery has finished. It is estimated that a further 30-35 days will be required to complete the course.

The distance course is completed at your own pace in your own time. You can finish it as quickly as you like, or take the full 12 months.

Competence is demonstrated by both multiple assignments in Microsoft Excel and MYOB, together with short answer theory questions using Microsoft Word. The assessments are part of the learning process. They are open book and are designed to encourage you to research the answers and learn in the process.

The successful completion of the open book assignments are designed to test the students ability to complete monthly and quarterly accounts, including bank reconciliations, payroll and BAS returns.

The Certificate III & IV Units

The Bookkeeping Institute of Australia has carefully chosen the 19 units in this qualification to ensure that our graduates are competent to be employed or contracted in a bookkeeping role, or to operate a business as a BAS Agent.

Included in the delivery of this qualification are all of the modules in our 4 day BI-640 MYOB Accounting Plus with Payroll, GST & BAS and our 2 day BI-560 Introduction to Bookkeeping and Accounting courses.

The 19 units have been carefully grouped into 6 groups and 8 sections in order to avoid the duplications often found in individual unit assessments. That means that you only have to complete 8 assessments in order to qualify for all 19 units.

All of these 19 units are nationally recognised and will form part of a pathway towards the FNS50210 Diploma of Accounting and the BIA Diploma of Bookkeeping.

The Certificate IV Assessment Groups

GROUP ONE – FINANCIAL SERVICES , OHS & BUSINESS DOCUMENTS

• FNSINC301A - Work effectively in the financial services industry

• FNSINC401A - Apply principles of professional practice to work in the financial services industry

• BSBOHS303B - Contribute to OHS hazard identification and risk assessment

• BSBITU306A - Design and produce business documents

• BSBWRT301A - Write simple documents (elective)

GROUP TWO – SET UP AND OPERATE A COMPUTERISED ACCOUNTING SYSTEM

• FNSACC406A - Set up and operate a computerised accounting system (elective)

• FNSACCT301A - Process financial transactions and extract interim reports

• FNSACCT302A - Administer subsidiary accounts and ledgers

• FNSACCT303A - Perform financial calculations

• FNSACM301A - Administer financial accounts (elective)

• BSBFIA304A - Maintain a general ledger (elective)

GROUP THREE - BOOKKEEPING POLICIES & PRACTICES

• FNSBKG401A - Develop and implement policies and practices relevant to bookkeeping activities

GROUP FOUR - PROVIDE CONTRACT BOOKKEEPING SERVICES USING MYOB

• FNSBKG402A - Establish and maintain a Cash Accounting System

• FNSACC402A - Prepare operational budgets (elective)

• FNSBKG403A - Establish and maintain an Accrual Accounting System

GROUP FIVE - PART 1: BAS AGENT REGISTRATION SKILL SET: PAYROLL

• FNSBKG405A - Establish and maintain a payroll system

GROUP FIVE - PART 2: BAS AGENT REGISTRATION SKILL SET: BAS

• FNSBKG404A - Carry out Business Activity and Instalment Activity Statement tasks

GROUP SIX - MAINTAIN ASSET & INVENTORY RECORDS

• BSBFIA401A - Prepare financial reports

• FNSACC405A - Maintain inventory records (elective)

To review our suggested distance timetable click here

The Methodology

In the past introductory accounting concepts and principles have been taught using a manual accounting system approach. The Bookkeeping Institute of Australia has adopted the view that it is more important for students to learn to operate a computer program such as Microsoft Excel or a computerised accounting system such as MYOB to perform these activities. Consequently in addition to 6 days of lectures, students will receive 3 days of extensive self-paced training in MYOB, 3 days of QuickBooks self-paced training and an optional 1 day of Excel self-paced training before starting on the assessments.

The assessments themselves are largely based on a fictitious sporting business called Wayne Cooper Gym Repairs. By using this scenario we are able to simulate a workplace environment in the classroom and your home.

The Classroom Activities

The 18 day classroom course comprises the following BIA lectures and self-paced courses:

Day 1: Lecture #1 – Group 1, Part 1: Orientation & Financial Services

This lecture will cover: Orientation & Training Packages; Financial Services Industry; Managing your time; Communication and Working in a Team

Day 2: Lecture #2 – Group 1, Part 2: OHS & Business Document

This lecture will cover: Health and Safety in the Workplace; Doing Research and Writing Reports

Optional Day: Self-paced course: BI-820 Microsoft Excel 2007 - Day to Day

Days 3 – 4: Lectures #3 & #4 – Group 2: Introduction to Bookkeeping

This is the foundation lecture for the course and covers the History of Bookkeeping; Accounting Concepts and Principles; Business Organisations; Accounting Entities; Business Types; The Trading Cycle; Accounting Periods; Balance Date; Source Documents; Groups of Accounts; The Accounting Equation; Net Profit; The Rules of Debits & Credits; Double Entry Bookkeeping; Accounting Systems; Chart of Accounts; Accrual and Cash Accounting; GST; The Profit & Loss Statement & The Balance Sheet and The Flow of Information.

Day 5: Lecture #5 – Group 2: Bookkeeping Basics

Incorporating Recording transactions in the accounting system; Preparation of financial statements; Measurement of profit; The purpose of adjusting entries; Completing the accounting cycle; Preparing adjusting entries; The adjusted trial balance; Closing entries;  Small business concessions; Prepaid expenditure; Simplified depreciation rules; Simplified trading stock rules; Small business CGT concessions and Accounting for GST.

Day 6—7: MYOB Self-paced course: Ready to go with MYOB - Days 1 & 2

On this course you will learn how to create a new company file in MYOB; deal with more complex invoicing matters; enter customer and supplier details into MYOB's card file; export MYOB data to Microsoft Excel 2003; make purchases from suppliers; make sales to customers; modify a chart of accounts to suit specific business needs; pay for purchases that have been made from suppliers; perform a bank reconciliation; perform end of month operations in MYOB; produce a variety of business related reports; record customer payments; set up a petty cash operation in MYOB; setup inventory for a new company file; track and monitor your credit cards; verify, backup, & restore MYOB data files & write cheques to make payments

Day 8: MYOB Self-paced course: BI-614 MYOB Accounting for GST/BAS

On this course you will learn how to use the MYOB Banking command centre; reconcile bank accounts; understand file management and error correction; understand Cash and Accrual accounting methods;  use advanced sales and purchases features & understand GST & BAS in depth

Day 9: Lecture #6 – Bookkeeping Policies and Practices

Incorporating The history and background to the current legislative framework under which bookkeepers operate; The old legislation — the Income Tax Assessment Act of 1936; The new legislation — the Tax Agent Services Act 2009; What is a BAS Service; Who needs to register as a BAS agent?; Recognised BAS Agent Associations; Code of Professional Conduct; ABN BAS; ATO Guidelines for Developing a Robust Risk-Based QA Process; Australian Accounting Standards; Professional Development; Professional Partner Programs; Break Even Analysis; Financial Services Legislation; Time Management; The Essentials of Public Practice; Working with Accountants; New Client Relationship and Bookkeeping Business Plan.

Days 10-11: Lectures #7 & #8 – Bookkeeping, Budgeting, Payroll & the Fair Work Act

Incorporating MYOB accounting; Budgeting; PAYG; TFN Declaration; Pay as you go; Employer vs Contractor; Fair Work Act; Payment summaries; Superannuation; Pay slips; Privacy laws; Unfair dismissal and Unlawful termination.

Day 12: Self paced training . . . MYOB Accounting Plus - Payroll

On this course you will learn how to setup MYOB Accounting Plus for payroll; add employee payroll details in MYOB; conduct a pay run; create and track employee entitlements; pay employees electronically; display payroll information and generate reports; finalise the end of a pay year

Day 13: Lecture #9 – Activity Statements 

Incorporating Researching and documenting Statutory, legislative and regulatory requirements relating to Activity Statements; Identifying Lodgment schedule requirements; Recognising GST implications and coding transactions; Reporting on payroll and other amounts withheld, pay as you go (PAYG) installments and taxes & Completing, reconciling and lodging the Activity Statement

Day 14: Lecture #10 – End-of-Period Financial Reports

Incorporating Setting up an asset register; Complying with organisational asset acquisition procedures; Reconciling asset register and inventory records to the general ledger; Recording inventory flows; Recognising new assets and asset categories; Preparing schedules and ad hoc reports; Recording the disposal of fixed assets; Recording general journal entries for balance day adjustments; Preparing final general ledger accounts & end-of-period financial reports

Day 15: Lecture #10 . . . Start Your Own Bookkeeping Business Workshop

Incorporating Starting your Bookkeeping Business; Business Failures; Business Name; Business Location; Marketing your Bookkeeping Business; Key Services; Charges; Duration; Debt Collection; Lead Generation; Boosting Profitability; Operating your Bookkeeping Business; Troubleshooting; MYOB Tricks and Traps and the Impact of External forces on the financial services industry

Days 16-18: Self paced training . . . BI-730 QuickBooks Plus with Payroll

Navigate around QuickBooks confidently; create and configure a QuickBooks company file; create and modify a QuickBooks chart of accounts; set up and maintain stock and service items in QuickBooks; create a variety of different accounts, enter their opening balances & work with and edit customer & supplier records; process cash sales in QuickBooks; create, manage and print QuickBooks invoices including the application of discounts; track and manage accounts receivable, processing a variety of different payment types and issue customer statements; enter and pay bills in QuickBooks; manage stock levels and create purchase orders; use QuickBooks to write cheques and make payments; reconcile QuickBooks with a bank statement; produce fully customised QuickBooks reports; calculate GST liability and complete a Business Activity Statement.; prepare your copy of QuickBooks for payroll processing; create employee records; process a pay in QuickBooks; account for, manage and pay your payroll liabilities; produce a variety of reports; produce employee payment summaries for both employees and the tax office; keep QuickBooks up to date by downloading updates from the Quicken website

Course Materials