Wednesday, August 29, 2012

Business Activity Statements: New Legislation And Courses

Rules have recently changed again and some Certificate IV for BAS graduates may need one to do one or two extra modules of work in order to be compliant. These two modules are also available as a separate course for Accountants or others needing the skills set. The following article is informative if you are trying to work out which are the best courses to get qualified according to your existing level of skills.

If you have sufficient work experience, a good understanding of the theory of bookkeeping, have worked in the bookkeeping field for some time then you may be able to start directly on the Certificate IV for BAS service providers, without the need to complete a Certificate III in Financial Services. You may be able to find a BAS course which also covers MYOB.Some courses offered will vary in the electives chosen by the RTO providing the training. Some courses offered cover everything required by the latest changes to this qualification requested by the Tax Office and industry advisory bodies. Some courses will require that you do an additional one or two modules. Registered training organisations have been trying to second guess the final version of the rules and they have been doing their best to keep training workers in an industry which already has a skills shortage. If your course was accredited when you commenced, it is still accredited but you may need to do extra modul es. Ask about funding for these too if you need help.

If you have not worked in the financial services industry or bookkeeping before, there are a number of courses you could consider to get started. A full accredited Certificate III in Accounts Payable Receivable covers the basic theory and practice of bookkeeping independent of any particular system or brand of computerized bookkeeping software. However as computerized bookkeeping is now the norm a course in accounts payable receivable may include an introductory module on some kind of software application, probably MYOB.

If you are planning to work for a bank or a large corporation they may not use the same kind of Bookkeeping and Accounting software as small business, so you may have little need to know about MYOB or Quickbooks. However if you are planning to set up a bookkeeping service for small business you will probably need to know how these common software packages work, and how to use them. If you are wanting to get employment in the part of the bookkeeping industry that serves small business then most employers would like you to be familiar with the theory of Accounts Payable Receivable, and know how to apply it to the most commonly used forms of bookkeeping software like Quickbooks andMYOB. Quickbooks is more commonly used by sole traders and MYOB by small business with a number of employees.

Courses are available which teach the theory of bookkeeping in close conjunction with instructions on how to apply these principles to the relevant small business software. This is good, as shortly after you have learned the principle, and while it is still fresh in your mind, you learn how to apply that in practice on the software package. Such courses when delivered by a Registered Training Organisation carry almost as much weight as full accredited Certificate three in Financial services. They are often referred to as partially accredited. They carry less accreditation but make up for that with regular applied practice relevant to on the job skills. These courses are usually on the approved list for Centrelink funding too, though not for as many weeks as a Certificate III

The Nationally Recognised modules that are not included in some integrated courses are generally things related to Occupational Health and Safety or perhaps cover general communication in the work-place,topicsthat are contained in many accredited courses irrespective of the industry concerned. Often a mature age worker may have done these modules before as part of a previous qualification and can have them credited as advanced standing.Courses which integrate theory with practical activities on bookkeeping software are efficient at gettingjob seekersinto work quickly. This is why employment services like them and often recommend them. They are often designed to fit into a twelve month time frame for completion

When you are ready to take the next step and become a registered BAS service provider, under new legislation you will need to complete a full accredited Certificate IV level Course in Financial Services for BAS Service Providers. This qualification will include those general modules on Occupational health and safety etc previously referred to as being part of a Certificate III. So if you did not do these general modules inanother accredited course then youwill beable to complete them at that stage. The general modules are inserted at every level to try to make sure you do them at some time no matter what point you enter the educational system. If you have recently done the same general modules in another accredited course you will be able to get advanced standing.

You are strongly advised to check for other requirements that the ATO may have in order for you to become a BAS service provider as a course is not the only requirement. An accredited Certificate IV in financial Services for BAS Service providers is the qualification required.There is a transition period allowed for existing and new BAS service providers to register and comply with educational requirements. There is also a requiredment that a BAS service provider needs to have done 1400 hours of BAS preparation under supervision of a qualified supervisor. In addition, because of very recent unanticipated requirement changes to regulations some graduates may need to top up with a skills set module or two if their course did not include those modules. Some courses will not need to be topped up and some will. RTO's have been doing their best to anticipate needs while keeping the courses as compact and affordable as possible, while continuing to train in an identified skills sho rtage area.

If you cannot give up your existing job to study to comply with the new rules and legislation or cannot get time off work to study, or family commitments don't allow you to attend evening class, many suitable courses are available through distance. You can study by correspondence, with online support and and phone support. You can even do a a course which will be Nationally Recognised in Australia while you are still living overseas

Australian college accepts overseas enrollments.





1 comment:

  1. Preparing the business activity statements actually is a stressful and a time consuming task and it is really difficult for business owners to design these statements. Thus, nowadays it is highly recommended to hire professionals to do it for you. These professionals expertly manages the entire financial records and will keep them updated every time. These professionals actually have made this stressful task of business owners an easy and a stress free one. I am also sharing a website which deals in offering these sort of services online. Here is the website: http://www.midasbookkeeping.com.au/bas-statements/, you can click there anytime.

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