FNS Financial Services

Training Package

Implementation Guide –
Appendix

1
Disclaimer

This work has been produced with the assistance of funding provided by the Commonwealth Government
through the Department of Education and Training. The views expressed in this work do not necessarily
represent the views of the Department of Education and Training. In addition, the Department of
Education and Training does not give warranty or accept any legal liability in relation to the content of
this work.

For further information about this Companion Volume or any other work being undertaken by PwC’s
Skills for Australia, please visit www.skillsforaustralia.com

PwC’s Skills for Australia

PwC’s Skills for Australia

One International Towers Sydney
Watermans Quay
Barangaroo NSW 2000 Australia

P: 1800 714 819

E: info@skillsforaustralia.com

W: www.skillsforaustralia.com

2
Table of Contents
Version control and modification history .......................................................................................................... 4
Qualifications in the FNS Financial Services Training Package version 3.0 ...................................................11
Skill sets in the FNS Financial Services Training Package version 3.0 .......................................................... 12
Units of competency in the FNS Financial Services Training Package version 3.0 ....................................... 12
Qualification mapping .......................................................................................................................................29
Skill set mapping ...............................................................................................................................................29
Unit mapping .................................................................................................................................................... 30

3
Version control and modification history

Version Release date Comments

number
Version 3.0 January 2018 Qualifications
Two new qualifications:
• FNS40217 Certificate IV in Accounting and Bookkeeping
• FNS50417 Diploma of Payroll Services.
Two qualifications superseded by and not equivalent to
FNS40217 Certificate IV in Accounting and Bookkeeping:
• FNS40215 Certificate IV in Bookkeeping
• FNS40615 Certificate IV in Accounting.
Additions to the listed elective units of all Diploma and
Advanced Diploma qualifications. All Diploma and Advanced
Diploma qualifications remain equivalent to FNS Financial
Services Training Package Version 2.1.
Entry requirements added and changes to the listed elective
units of two qualifications:
• FNS50217 Diploma of Accounting
• FNS60217 Advanced Diploma of Accounting.
Changes to the core units, packaging rules, and listed elective
units of one non-equivalent qualification:
• FNS30317 Certificate III in Accounts Administration.
Skill sets
Four new skill sets:
• FNSSS00012 Payroll Administrator Skill Set
• FNSSS00013 Business Ethics and Conduct Skill Set
• FNSSS00014 Accounting Principles Skill Set
• FNSSS00015 Advanced Accounting Principles Skill Set.
Units of competency
Eight new units of competency:
• FNSACC304 Conduct business activities using a
computerised accounting system
• FNSINC503 Identify situations requiring complex
ethical decision making
• FNSINC504 Apply ethical frameworks and principles to
make and act on decisions
• FNSPAY501 Process salary packaging arrangements and
additional allowances in payroll
• FNSPAY502 Process superannuation payments in
payroll
• FNSPAY503 Process complex employee terminations in
payroll
• FNSPAY504 Interpret and apply knowledge of industrial
regulations relevant to payroll
• FNSPAY505 Interpret and apply knowledge of taxation
systems relevant to payroll.
Seventeen units of competency updated to align content with
industry skills needs and standards:
• FNSACC311 Process financial transactions and extract
interim reports
• FNSACC312 Administer subsidiary accounts and ledgers
• FNSACC313 Perform financial calculations
• FNSACC411 Process business tax requirements

4
Version Release date Comments
number
• FNSACC412 Prepare operational budgets
• FNSACC413 Make decisions in a legal context
• FNSACC414 Prepare financial statements for non-report
entities
• FNSACC416 Set up and operate a computerised
accounting system
• FNSACC511 Provide financial and business performance
information
• FNSACC512 Prepare tax documentation for individuals
• FNSACC513 Manage budgets and forecasts
• FNSACC514 Prepare financial reports for corporate
entities
• FNSACC516 Implement and maintain internal control
procedures
• FNSACC517 Provide management accounting
information
• FNSACC624 Monitor corporate governance activities
• FNSTPB401 Complete business activity and instalment
activity statements
• FNSTPB402 Establish and maintain payroll systems.
One unit of competency updated to align unit title and content
with industry skills needs and work practices:
• FNSACC408 Work effectively in the accounting and
bookkeeping industry (superseding non-equivalent
FNSBKG401 Develop and implement policies and
procedures relevant to bookkeeping activities).
Two units of competency deleted:
• FNSBKG402 Establish and maintain a cash accounting
system
• FNSBKG403 Establish and maintain an accrual
accounting system.
Version 2.1 September 2016 Qualifications
One qualification was reinstated and remains equivalent to FNS
Financial Services Training Package version 1.1:
• FNS30415 Certificate III in Mercantile Agents.
One qualification was updated and remains equivalent to FNS
Financial Services Training Package version 2.0:
• FNS30215 Certificate III in Personal Injury
Management (reinstatement of packaging rules, update
to mapping information).
Six qualifications were updated and remain equivalent to FNS
Financial Services Training Package version 2.0, with upgrades
to correct mapping errors in imported elective units lists:
• FNS30115 Certificate III in Financial Services
• FNS41815 Certificate IV Financial Services
• FNS42115 Certificate IV in Personal Injury Management
• FNS42215 Certificate IV in Personal Trust
Administration
• FNS51915 Diploma of Personal Injury and Disability
Insurance Management
• FNS50315 Diploma of Finance and Mortgage Broking
Management.
Skill sets
• No SSO upgrade to skill sets.

5
Version Release date Comments
number
Units of Competency
 No SSO upgrade to units of competency.
Version 2.0 January 2016 Qualifications
Two qualifications removed:
• FNS30415 Certificate III in Mercantile Agents
• FNS51715 Diploma of Applied Anti-money Laundering
and Counter Terrorism Financing.
One new qualification:
• FNS80115 Graduate Diploma of Applied
Anti-money Laundering and Counter
Terrorism Financing.
Four qualifications updated and not equivalent to FNS
Financial Services Training Package
version 1.1 qualifications:
• FNS42115 Certificate IV in Personal Injury Management
(change to one core unit and three electives added to
cover medical indemnity sector)
• FNS42215 Certificate IV in Personal Trust
Administration (change to one core unit and two
electives added to meet industry requirements)
• FNS51915 Diploma of Personal Injury and Disability
Insurance Management (change to one core unit and six
electives added)
• FNS52015 Diploma of Personal Trusts (change to four
core units and new electives added to meet industry
requirements).
Industry Skills Council (ISC) upgrade to four qualifications,
equivalent to FNS Financial Services Training Package
version 1.1 qualifications, to correct typographical errors:
• FNS30115 Certificate III in Financial Services
• FNS30215 Certificate III in Personal Injury
Management
• FNS30315 Certificate III in Accounts Administration
• FNS30515 Certificate III in General Insurance
• FNS40715 Certificate IV in Financial Practice Support
• FNS50215 Diploma of Accounting
• FNS50315 Diploma of Finance and Mortgage Broking
Management
• FNS50915 Diploma of Banking Services Management
• FNS51815 Diploma of Financial Services
• FNS60515 Advanced Diploma of Superannuation
• FNS60615 Advanced Diploma of Banking Services
Management.
ISC upgrade to four qualifications, equivalent to FNS
Financial Services Training Package version 1.1
qualifications, with the removal of a clause about selection of
elective ASIC units to allow greater flexibility:
• FNS50615 Diploma of Financial Planning
• FNS51015 Diploma of Financial Markets
• FNS60415 Advanced Diploma of Financial Planning
• FNS60715 Advanced Diploma of Financial Licensing
Management.
ISC upgrade to two skill sets, equivalent to FNS Financial
Services Training Package version 1.1 qualifications, with

6
Version Release date Comments
number
additional elective units to incorporate FNSSS00011 Post-
retirement skill set:
• FNS40915 Certificate IV in Superannuation
• FNS41815 Certificate IV in Financial Services.
Skill sets
Two new skill sets:
• FNSSS00010 Anti-money Laundering and Counter
Terrorism Financing skill set
• FNSSS00011 Post-retirement skill set.
ISC upgrade to two skill sets, equivalent to FNS Financial
Services Training Package version 1.1 skill sets, to correct
typographical errors:
• FNSSS00007 Financial literacy education skill set
• FNSSS00009 Tax law for tax agents skill set (tax plans).
Units of competency
27 new units of competency:
• FNSAML801 Design an anti-money and counter
terrorism financing program
• FNSAML802 Design and assess controls to monitor
money-laundering and terrorism financing risk
• FNSAML803 Design and monitor a reporting system for
suspicious transactions
• FNSAML804 Design customer due diligence policies
and procedures
• FNSAML805 Manage assessment of organisational
vulnerability to money laundering and terrorism
financing
• FNSAML806 Implement an anti-money and counter
terrorism financing program
• FNSINC801 Lead compliance with financial services
legislation and industry codes of practice
• FNSINC802 Develop and build effective relationships
with regulators and industry bodies
• FNSPIM416 Work effectively in the medical indemnity
sector
• FNSPIM417 Analyse medical indemnity claims
• FNSPIM506 Promote the health benefits of returning to
work
• FNSPIM507 Manage complex return to work cases
• FNSPIM508 Evaluate and improve return to work
program within an organisation
• FNSPIM509 Comply with regulatory frameworks
• FNSPIM510 Implement informed decision making
• FNSPIM511 Facilitate setting and achievement of goals
• FNSPIM512 Negotiate settlements for medical
indemnity claims
• FNSPRT504 Apply knowledge of the regulatory
environment relevant to trustee organisations
• FNSPRT505 Develop and maintain knowledge of
financial services and assets
• FNSPRT506 Develop understanding of traditional
trustee services
• FNSPRT507 Apply principles of fiduciary duty,
substituted decision making and ethical decision making

7
Version Release date Comments
number
• FNSPRT508 Administer a charitable trust
• FNSSUP409 Provide specialist retirement income
stream information to clients
• FNSSUP411 Terminate retirement income streams
• FNSSUP412 Determine impact of social security
entitlements on retirement income
• FNSSUP413 Apply knowledge of retirement planning
issues when dealing with clients
• FNSSUP414 Develop and apply knowledge of aged care.
Two units of competency removed:
• FNSPRT301 Establish entitlements to an intestate estate
• FNSPRT503 Assess, allocate and supervise work within
the personal trustee sector.
One unit of competency removed (listed on TGA in error):
• FNSPIM412 Participate in formal communication
processes.
Two units of competency updated and not equivalent to FNS
Financial Services Training Package version 1.1 units of
competency:
• FNSPRT407 Investigate and substantiate entitlement in
an intestate estate
• FNSSUP410 Establish and administer retirement
income streams.
Industry Skills Council (ISC) upgrade to nine units of
competency equivalent to FNS Financial Services Training
Package version 1.1 units of competency:
• FNSPRT302 Administer a non-complex estate
• FNSPRT303 Administer a trust with non-complex
matters
• FNSPRT402 Prepare a will
• FNSPRT403 Administer a complex estate
• FNSPRT404 Administer a trust dealing with complex
matters
• FNSPRT405 Establish powers of attorney or financial
administration orders
• FNSPRT406 Administer powers of attorney or financial
administration orders
• FNSPRT501 Advise clients on trust structures
• FNSPRT502 Advise clients in estate planning.

Version 1.1 April 2015 Industry Skills Council (ISC) upgrade to correct mapping and
typographical errors.
Qualifications
ISC upgrade to all qualifications equivalent to FNS Financial
Services Training Package version 1.0 qualifications.
Skill sets
No ISC upgrade to skill sets.
Units of competency
ISC upgrade to seven units of competency equivalent to FNS
Financial Services Training Package version 1.0 units:
• FNSASICY503 Provide advice in insurance broking
• FNSBKG405 Establish and maintain a payroll system
• FNSIBK403 Place client insurances with insurer and
confirm insurance cover with clients

8
Version Release date Comments
number
• FNSIBK405 Meet industry and legislative guidelines and
organisational procedures relating to insurance broking
• FNSIBK513 Prepare submission for new business
• FNSINC502 Assess financial products and services
vulnerability to money laundering and counter terrorism
financing
• FNSSUP406 Establish and maintain fund or plan.
Version 1 March 2015 Primary release of restructured FNS Financial Services
Training Package.
This version of FNS Financial Services Training Package
contains 46 qualifications and 366 FNS units that have been
updated to meet the Standards for Training Packages. It includes
eight new units of competency, 155 imported units and four new
skill sets.
Qualifications
One qualification removed:
• FNS41611 Certificate IV in Loss Adjusting.
Two qualifications moved to BSB Business Services
Training Package:
• FNS50411 Diploma of Conveyancing
• FNS60311 Advanced Diploma of Conveyancing.
Two qualifications based on merged qualifications:
• FNS41915 Certificate IV in Personal Injury Management
• FNS42015 Certificate IV in Banking Services.
Thirteen qualifications updated and not equivalent to FNS10
Financial Services Training Package qualifications
• FNS30615 Certificate III in Insurance Broking
• FNS40615 Certificate IV in Accounting
• FNS41715 Certificate IV in Insurance Broking
• FNS41915 Certificate IV in Personal Injury Management
• FNS42015 Certificate IV in Banking Services
• FNS50115 Diploma of Personal Injury Management
• FNS50215 Diploma of Accounting
• FNS50815 Diploma of Integrated Risk Management
• FNS51215 Diploma of Insurance Broking
• FNS51415 Diploma of Loss Adjusting
• FNS51715 Diploma of Applied Anti-money Laundering
and Counter Terrorism Financing Management
• FNS60115 Advanced Diploma of Insurance Broking
• FNS60215 Advanced Diploma of Accounting.
Skill sets
Four new skill sets
• FNSSS00005 Commercial law for tax agents skill set
• FNSSS00006 Commercial law for tax (financial)
advisers skill set
• FNSSS00008 Tax law for tax agents skill set (tax
documentation)
• FNSSS00009 Tax law for tax agents skill set (tax plans).
Units of competency
Eight new units of competency:
• FNSIBK406 Deliver professional insurance broking
services
• FNSIBK608 Establish and maintain strategic networks
and collaborative relationships

9
Version Release date Comments
number
• FNSINC502 Assess financial products and services
vulnerability to money laundering and terrorism
financing
• FNSPIM504 Manage impairment benefit claims
• FNSPIM505 Use medical knowledge in the management
of personal injury claims
• FNSTPB503 Apply legal principles in consumer and
contract law
• FNSTPB506 Apply taxation requirements when
providing tax (financial) advice services
• FNSTPB507 Apply legal principles in commercial law
requirements when providing tax (financial) advice
services.
Three units of competency removed:
• FNSIBK301A Provide insurance broking services in
response to a customer enquiry
• FNSIGN405A Inspect vehicle systems and components
and determine preferred repair action
• FNSPIM412A Participate in formal communication
processes.
All units of competency re-coded and restructured to meet the
Standards for Training Packages.

10
Appendix 1
List of qualifications, skill
sets and units of competency
 Qualifications in the FNS Financial Services Training Package version 3.0
 Skill sets in the FNS Financial Services Training Package version 3.0
 Units of competency in the FNS Financial Services Training Package version 3.0

Qualifications in the FNS Financial Services Training Package

version 3.0
Qualification Qualification title
code
FNS10115 Certificate I in Financial Services
FNS20115 Certificate II in Financial Services
FNS30115 Certificate III in Financial Services
FNS30215 Certificate III in Personal Injury Management
FNS30317 Certificate III in Accounts Administration
FNS30415 Certificate III in Mercantile Agents
FNS30515 Certificate III in General Insurance
FNS30615 Certificate III in Insurance Broking
FNS40115 Certificate IV in Credit Management
FNS40217 Certificate IV in Accounting and Bookkeeping
FNS40715 Certificate IV in Financial Practice Support
FNS40815 Certificate IV in Finance and Mortgage Broking
FNS40915 Certificate IV in Superannuation
FNS41115 Certificate IV in Financial Markets Operations
FNS41415 Certificate IV in General Insurance
FNS41515 Certificate IV in Life Insurance
FNS41715 Certificate IV in Insurance Broking
FNS41815 Certificate IV in Financial Services
FNS42015 Certificate IV in Banking Services
FNS42115 Certificate IV in Personal Injury Management
FNS42215 Certificate IV in Personal Trust Administration
FNS50217 Diploma of Accounting
FNS50315 Diploma of Finance and Mortgage Broking Management
FNS50417 Diploma of Payroll Services
FNS50615 Diploma of Financial Planning
FNS50715 Diploma of Superannuation
FNS50815 Diploma of Integrated Risk Management
FNS50915 Diploma of Banking Services Management
FNS51015 Diploma of Financial Markets

11
Qualification Qualification title
code
FNS51115 Diploma of General Insurance
FNS51215 Diploma of Insurance Broking
FNS51315 Diploma of Life Insurance
FNS51415 Diploma of Loss Adjusting
FNS51515 Diploma of Credit Management
FNS51615 Diploma of Securitisation
FNS51815 Diploma of Financial Services
FNS51915 Diploma of Personal Injury and Disability Insurance Management
FNS52015 Diploma of Personal Trusts
FNS60115 Advanced Diploma of Insurance Broking
FNS60217 Advanced Diploma of Accounting
FNS60415 Advanced Diploma of Financial Planning
FNS60515 Advanced Diploma of Superannuation
FNS60615 Advanced Diploma of Banking Services Management
FNS60715 Advanced Diploma of Financial Licensing Management
FNS60815 Advanced Diploma of Integrated Risk Management
FNS80115 Graduate Diploma of Anti-money Laundering and Counter Terrorism Financing

Skill sets in the FNS Financial Services Training Package version

3.0
Skill set code Skill set title
FNSSS00004 BAS Agent Registration Skill Set
FNSSS00005 Commercial Law for Tax Agents Skill Set
FNSSS00006 Commercial Law for Tax (Financial) Advisers Skill Set
FNSSS00007 Financial Literacy Education Skill Set
FNSSS00008 Tax Law for Tax Agents Skill Set (Tax documentation)
FNSSS00009 Tax Law for Tax Agents Skill Set (Tax plans)
FNSSS00010 Anti-money Laundering and Counter Terrorism Financing Skill Set
FNSSS00011 Post-retirement Skill Set
FNSSS00012 Payroll Administrator Skill Set
FNSSS00013 Business Ethics and Conduct Skill Set
FNSSS00014 Accounting Principles Skill Set
FNSSS00015 Advanced Accounting Principles Skill Set

Units of competency in the FNS Financial Services Training

Package version 3.0
Unit code Unit title
FNSACC304 Conduct business activities using a computerised accounting system
FNSACC311 Process financial transactions and extract interim reports
FNSACC312 Administer subsidiary accounts and ledgers
FNSACC313 Perform financial calculations
FNSACC405 Maintain inventory records
FNSACC407 Produce job costing information
FNSACC408 Work effectively in the accounting and bookkeeping industry

12
Unit code Unit title
FNSACC411 Process business tax requirements
FNSACC412 Prepare operational budgets
FNSACC413 Make decisions in a legal context
FNSACC414 Prepare financial statements for non-reporting entities
FNSACC416 Set up and operate a computerised accounting system
FNSACC505 Establish and maintain accounting information systems
FNSACC511 Provide financial and business performance information
FNSACC512 Prepare tax documentation for individuals
FNSACC513 Manage budgets and forecasts
FNSACC514 Prepare financial reports for corporate entities
FNSACC516 Implement and maintain internal control procedures
FNSACC517 Provide management accounting information
FNSACC601 Prepare and administer tax documentation for legal entities
FNSACC602 Audit and report on financial systems and records
FNSACC603 Implement tax plans and evaluate tax obligations
FNSACC605 Implement organisational improvement programs
FNSACC606 Conduct internal audit
FNSACC607 Evaluate business performance
FNSACC608 Evaluate organisation’s financial performance
FNSACC609 Evaluate financial risk
FNSACC610 Develop and implement financial strategies
FNSACC611 Implement an insolvency program
FNSACC612 Implement reconstruction plan
FNSACC613 Prepare and analyse management accounting information
FNSACC614 Prepare complex corporate financial reports
FNSACC624 Monitor corporate governance activities
FNSACM301 Administer financial accounts
FNSACM302 Prepare, match and process receipts
FNSACM303 Process payment documentation
FNSACM401 Evaluate and authorise payment requests
FNSAML801 Design an anti-money and counter terrorism financing program
FNSAML802 Design and assess controls to monitor money-laundering and terrorism financing
risk
FNSAML803 Design and monitor a reporting system for suspicious transactions
FNSAML804 Design customer due diligence policies and procedures
FNSAML805 Manage assessment of organisational vulnerability to money laundering and
terrorism financing
FNSAML806 Implement an anti-money and counter terrorism financing program
FNSASIC301 Establish client relationship and analyse needs
FNSASIC302 Develop, present and negotiate client solutions
FNSASIC303 Provide advice on first home saver account deposit products and non-cash
payments
FNSASIC304 Provide Tier 2 general advice in general insurance
FNSASIC305 Provide Tier 2 personal advice in general insurance
FNSASICL503 Provide advice in the regulated emissions market
FNSASICM503 Provide Tier 1 personal advice in life insurance
FNSASICN503 Provide Tier 1 personal advice in general insurance
FNSASICO503 Provide Tier 1 general advice in general insurance
FNSASICQ503 Provide advice in first home saver market linked accounts
FNSASICR503 Provide advice in margin lending
FNSASICS503 Provide advice in foreign exchange
FNSASICT503 Provide advice in managed investments
FNSASICU503 Provide advice in superannuation

13
Unit code Unit title
FNSASICV503 Provide advice in derivatives
FNSASICW503 Provide advice in securities
FNSASICX503 Provide advice in life insurance
FNSASICY503 Provide advice in insurance broking
FNSASICZ503 Provide advice in financial planning
FNSBNK401 Coordinate a small business customer portfolio
FNSBNK402 Align banking products with the needs of small business customers
FNSBNK403 Provide services in a Business Transaction Centre
FNSBNK404 Promote mobile banking services
FNSBNK405 Provide mobile banking sales and service
FNSBNK406 Manage customer visits
FNSBNK501 Manage banking and service strategy for small business customers
FNSBNK502 Manage services in a Business Transaction Centre
FNSBNK503 Provide business advisory services within a financial
services context
FNSCMP501 Comply with financial services legislation
FNSCRD301 Process applications for credit
FNSCRD302 Monitor and control accounts receivable
FNSCRD401 Assess credit applications
FNSCRD402 Establish and maintain appropriate security
FNSCRD403 Manage and recover bad and doubtful debts
FNSCRD404 Utilise the legal process to recover outstanding debt
FNSCRD405 Manage overdue customer accounts
FNSCRD501 Respond to personal insolvency situations
FNSCRD502 Manage factoring and invoice discounting arrangements
FNSCRD503 Promote understanding of the role and effective use of consumer credit
FNSCRD504 Manage the credit relationship
FNSCRD505 Respond to corporate insolvency situations
FNSCUS301 Respond to customer enquiries
FNSCUS401 Participate in negotiations
FNSCUS402 Resolve disputes
FNSCUS403 Deliver a professional service to customers
FNSCUS501 Develop and nurture relationships with clients, other professionals and third-party
referrers
FNSCUS502 Monitor client requirements
FNSCUS503 Review business performance
FNSCUS504 Manage premium customer relationships
FNSCUS505 Determine client requirements and expectations
FNSCUS506 Record and implement client instructions
FNSCUS601 Establish, manage and monitor key relationships
FNSFLT201 Develop and use a personal budget
FNSFLT202 Develop and use a savings plan
FNSFLT203 Develop knowledge of debt and consumer credit
FNSFLT204 Develop knowledge of superannuation
FNSFLT205 Develop knowledge of the Australian financial system and markets
FNSFLT206 Develop knowledge of taxation
FNSFLT301 Be MoneySmart
FNSFLT401 Be MoneySmart through a career in Small Business
FNSFLT501 Assist customers to budget and manage own finances
FNSFLT502 Facilitate customer awareness of the Australian financial system and markets
FNSFLT503 Promote basic financial literacy skills
FNSFLT504 Facilitate customer understanding of personal financial statements

14
Unit code Unit title
FNSFLT505 Facilitate customer or employee understanding of superannuation as an
investment tool
FNSFMB401 Prepare loan application on behalf of finance or mortgage broking clients
FNSFMB402 Identify client needs for broking services
FNSFMB403 Present broking options to client
FNSFMB501 Settle applications and loan arrangements in the finance and mortgage
broking industry
FNSFMB502 Identify and develop broking options for clients with complex needs
FNSFMB503 Present broking options to client with complex needs
FNSFMB504 Implement complex loan structures
FNSFMK401 Reconcile financial transactions
FNSFMK402 Develop and maintain knowledge of financial markets products
FNSFMK403 Interpret financial markets information
FNSFMK501 Analyse financial markets and information
FNSFMK502 Analyse financial market products for client
FNSFMK503 Advise clients on financial risk
FNSFMK504 Complete confirmation and settlement processes
FNSFMK505 Comply with financial services legislation and industry codes of practice
FNSFMK506 Detect errors and fraud when processing financial transactions
FNSFMK507 Analyse risk mitigation in the operation process
FNSFMK508 Monitor and process collateral
FNSFMK509 Process transaction documentation
FNSFMK510 Prepare trading strategies for clients
FNSFMK511 Apply limits when trading
FNSFMK512 Apply knowledge of emissions markets
FNSFMK601 Price financial transactions
FNSFMK602 Hedge financial products
FNSFPL401 Extract and analyse information on specified financial strategies and products
FNSFPL402 Prepare financial plans to set strategies and guidelines
FNSFPL403 Implement financial plans to predetermined guidelines
FNSFPL501 Comply with financial planning practice ethical and operational guidelines
and regulations
FNSFPL502 Conduct financial planning analysis and research
FNSFPL503 Develop and prepare financial plan
FNSFPL504 Implement financial plan
FNSFPL505 Review financial plans and provide ongoing service
FNSFPL506 Determine client financial requirements and expectations
FNSFPL507 Provide financial planning advice
FNSFPL508 Conduct complex financial planning research
FNSFPL601 Provide technical and professional guidance
FNSFPL602 Determine client requirements and expectations for clients with complex needs
FNSFPL603 Provide comprehensive monitoring and ongoing service
FNSFPL604 Develop complex and innovative financial planning strategies
FNSFPL605 Present and negotiate complex and innovative financial plans
FNSFPL606 Implement complex and innovative financial plan
FNSIAD301 Provide general advice on financial products and services
FNSIAD501 Provide appropriate services, advice and products to clients
FNSIAD502 Provide appropriate and timely information and advice to clients
FNSIBK302 Provide general advice in general insurance broking products and services
FNSIBK401 Research, analyse and report information in insurance broking
FNSIBK402 Implement new or renewed insurance program for insurance broking clients
FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients
FNSIBK404 Provide a claims service to an insurance broking client

15
Unit code Unit title
FNSIBK405 Meet industry and legislative guidelines and organisational procedures relating to
insurance broking
FNSIBK406 Deliver professional insurance broking services
FNSIBK507 Review service performance
FNSIBK508 Implement changes to broking client’s insurance program
FNSIBK512 Negotiate complex claims settlement for insurance broking client
FNSIBK513 Prepare submission for new business
FNSIBK514 Manage complex risk portfolio for a broking client
FNSIBK515 Monitor broking client requirements and establish loss control programs
FNSIBK601 Develop guidelines for broking services
FNSIBK602 Manage implementation of broking service support systems
FNSIBK603 Manage contractual, legislative and code of practice obligations and requirements
FNSIBK604 Manage a sales plan for insurance broking services
FNSIBK606 Manage compliance requirements for an insurance broking business
FNSIBK607 Lead ethical work practices in an insurance brokerage
FNSIBK608 Establish and maintain strategic networks and collaborative relationships
FNSIGN401 Provide technical guidance
FNSIGN402 Inspect quality of work
FNSIGN403 Estimate jobs
FNSIGN404 Inspect damage and develop scope of work
FNSIGN406 Inspect property for saleable items and determine their value
FNSILA501 Plan and implement loss investigation
FNSILA502 Evaluate collected information
FNSILA503 Report findings and provide guidance to involved parties
FNSILA504 Negotiate and effect settlement
FNSILA505 Provide ancillary services
FNSILD501 Prepare a distribution plan
FNSILD502 Resource a distribution plan
FNSILD503 Establish services to provide advice
FNSILD504 Implement and manage the distribution plan
FNSILF302 Process a life insurance application
FNSILF303 Issue a life insurance policy
FNSILF401 Contribute to the life risk underwriting process
FNSILF402 Settle policy payments and terminations
FNSILF403 Develop and maintain in-depth knowledge of products and services used by the
life insurance sector
FNSILF404 Process requests for policy alterations and assignments
FNSILF405 Evaluate life insurance claims
FNSILF406 Collect and manage information to facilitate claims assessment
FNSILF407 Settle life insurance claims
FNSILF408 Process life insurance contract maturity and surrender payment requests
FNSILF501 Assess extraordinary risks
FNSILF502 Underwrite complex medical life risks
FNSILF503 Underwrite complex non-medical risks
FNSILF504 Manage complex life insurance claims
FNSILF505 Manage ongoing disability claims
FNSILF506 Manage group life insurance claims
FNSILF507 Manage group life insurance policy administration
FNSINC301 Work effectively in the financial services industry
FNSINC401 Apply principles of professional practice to work in the financial services industry
FNSINC402 Develop and maintain in-depth knowledge of products and services used by an
organisation or sector
FNSINC501 Conduct product research to support recommendations

16
Unit code Unit title
FNSINC502 Assess financial products and services vulnerability to money laundering and
terrorism financing
FNSINC503 Identify situations requiring complex ethical decision making
FNSINC504 Apply ethical frameworks and principles to make and act on decisions
FNSINC601 Apply economic principles to work in the financial services industry
FNSINC602 Interpret and use financial statistics and tools
FNSINC801 Lead compliance with financial services legislation and industry codes of practice
FNSINC802 Develop and build effective relationships with regulators and industry bodies
FNSISV301 Evaluate risk for renewal business
FNSISV302 Process alteration to insurance policy
FNSISV303 Issue contract of insurance
FNSISV304 Issue insurance renewal advice
FNSISV305 Issue insurance cancellation advice
FNSISV306 Receive and record or register a claim
FNSISV307 Follow organisation procedures to process claim
FNSISV308 Process facultative and treaty reinsurance claim
FNSISV309 Settle claims
FNSISV310 Process insurance claims payments
FNSISV401 Evaluate risk for new business
FNSISV402 Underwrite new business
FNSISV403 Survey potential risk exposure
FNSISV404 Underwrite renewal business
FNSISV405 Analyse insurance claims
FNSISV406 Use specialist terminology in insurance claims
FNSISV407 Use medical terminology in an insurance context
FNSISV501 Issue contracts of insurance covering non-routine and complex situations
FNSISV502 Review operational performance of the portfolio
FNSISV503 Undertake post-loss risk management
FNSISV504 Negotiate treaty reinsurance
FNSISV505 Determine risk rating for investment and insurance products
FNSISV506 Investigate insurance claims
FNSISV507 Implement claim recovery procedures
FNSISV508 Review and advise on claims costs, policies and procedures
FNSISV509 Analyse financial, medical and psychological claims assessments
FNSISV510 Manage non-routine and complex claims
FNSISV511 Settle non-routine and complex claims
FNSISV512 Work with legal teams to resolve complex claims
FNSISV513 Provide decisions on legal liability and indemnity of a claim
FNSISV514 Review and update claim reserves in portfolio
FNSISV515 Evaluate and report on status of claims portfolio
FNSISV516 Allocate authorities and guidelines for distribution
FNSISV517 Review claims settlement policies and procedures
FNSMCA301 Collect debts
FNSMCA302 Repossess property
FNSMCA303 Serve legal process
FNSMCA304 Locate subjects
FNSMCA401 Develop and document case recommendations
FNSMCA402 Initiate legal recovery of debts
FNSORG301 Administer fixed asset register
FNSORG401 Conduct individual work within a compliance framework
FNSORG501 Develop and manage a budget
FNSORG502 Develop and monitor policy and procedures
FNSORG503 Develop a resource plan

17
Unit code Unit title
FNSORG504 Monitor and supervise work practices to meet financial services
regulatory requirements
FNSORG505 Prepare financial reports to meet statutory requirements
FNSORG506 Prepare financial forecasts and projections
FNSORG507 Manage client service and business information
FNSORG508 Analyse and comment on management reports
FNSORG601 Negotiate to achieve goals and manage disputes
FNSORG602 Develop and manage financial systems
FNSORG603 Establish and prepare operational guidelines in a financial services organisation
FNSORG604 Establish outsourced services and monitor performance
FNSPAY501 Process salary packaging arrangements and additional allowances in payroll
FNSPAY502 Process superannuation payments in payroll
FNSPAY503 Process complex employee terminations in payroll
FNSPAY504 Interpret and apply knowledge of industrial regulations relevant to payroll
FNSPAY505 Interpret and apply knowledge of taxation systems relevant to payroll
FNSPIM301 Process benefit payments
FNSPIM302 Determine claim liability
FNSPIM303 Work within the personal injury management sector
FNSPIM304 Assess and determine ongoing entitlements
FNSPIM401 Plan and implement rehabilitation and return to work and health strategies
FNSPIM403 Educate clients on personal injury management issues
FNSPIM404 Assist clients with job placement
FNSPIM405 Facilitate a return to work
FNSPIM406 Develop and maintain knowledge of personal injury management insurance
FNSPIM407 Register policy
FNSPIM408 Renew and maintain policy
FNSPIM409 Maintain customer relationship
FNSPIM410 Collect, assess and use information
FNSPIM412 Participate in formal communication processes
FNSPIM413 Assist with preparations for conciliation and review hearings
FNSPIM414 Manage personal injury claims
FNSPIM415 Manage personal injury case loads
FNSPIM416 Work effectively in the medical indemnity sector
FNSPIM417 Analyse medical indemnity claims
FNSPIM501 Develop a return to work or injury management strategy
FNSPIM502 Facilitate workplace assessment with stakeholders for personal injury cases
FNSPIM503 Represent personal injury management agent or insurer at reconciliation and
review hearings
FNSPIM504 Manage impairment benefit claims
FNSPIM505 Use medical knowledge in the management of personal injury claims
FNSPIM506 Promote the health benefits of returning to work
FNSPIM507 Manage complex return to work cases
FNSPIM508 Evaluate and improve return to work program within an organisation
FNSPIM509 Comply with regulatory frameworks
FNSPIM510 Implement informed decision making
FNSPIM511 Facilitate setting and achievement of goals
FNSPIM512 Negotiate settlements for medical indemnity claims
FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and
regulations
FNSPRM602 Improve the practice
FNSPRM603 Grow the practice
FNSPRM604 Prepare, supervise and monitor application of practice guidelines
FNSPRM605 Establish or review marketing, client services and supplier relationships

18
Unit code Unit title
FNSPRM606 Establish or review human resources, administration and information support
FNSPRT301 Establish entitlements to an intestate estate
FNSPRT302 Administer a non-complex estate
FNSPRT303 Administer a trust with non-complex matters
FNSPRT402 Prepare a will
FNSPRT403 Administer a complex estate
FNSPRT404 Administer a trust dealing with complex matters
FNSPRT405 Establish powers of attorney or financial administration orders
FNSPRT406 Administer powers of attorney or financial administration orders
FNSPRT407 Investigate and substantiate entitlement in an intestate estate
FNSPRT501 Advise clients on trust structures
FNSPRT502 Advise clients in estate planning
FNSPRT503 Assess, allocate and supervise work within the personal trustee sector
FNSPRT504 Apply knowledge of the regulatory environment relevant to trustee organisations
FNSPRT505 Develop and maintain knowledge of financial services and assets
FNSPRT506 Develop understanding of traditional trustee services
FNSPRT507 Apply principles of fiduciary duty, substituted decision making and ethical
decision making
FNSPRT508 Administer a charitable trust
FNSRSK401 Implement risk management strategies
FNSRSK501 Undertake risk identification
FNSRSK502 Assess risks
FNSRSK601 Develop and implement risk mitigation plan
FNSRSK602 Determine and manage risk exposure strategies
FNSRTS301 Provide customer service in a retail agency
FNSRTS302 Handle foreign currency transactions
FNSRTS303 Balance retail transactions
FNSRTS304 Administer debit card services
FNSRTS305 Process customer accounts
FNSRTS306 Process customer transactions
FNSRTS307 Maintain Automatic Teller Machine (ATM) services
FNSRTS308 Balance cash holdings
FNSRTS309 Maintain main bank account
FNSRTS401 Manage credit card services
FNSRTS402 Prepare government returns and reports
FNSSAM301 Identify opportunities for cross-selling products and services
FNSSAM401 Sell financial products and services
FNSSAM402 Implement a sales plan
FNSSAM403 Prospect for new clients
FNSSAM501 Apply advanced selling techniques to selling of financial products and services
FNSSAM502 Assess market opportunities
FNSSAM503 Monitor market opportunities
FNSSAM601 Monitor performance in sales of financial products or services
FNSSAM602 Identify and evaluate marketing opportunities in the financial services industry
FNSSAM603 Tailor financial products to meet customer needs
FNSSAM604 Establish agreements with intermediaries for product distribution
FNSSMS401 Process self-managed superannuation contribution
FNSSMS501 Invest self-managed superannuation funds assets
FNSSMS502 Manage changes to fund structure
FNSSMS503 Manage administration activities of a superannuation fund
FNSSMS504 Meet self-managed superannuation funds compliance requirements
FNSSMS505 Support trustee in the selection and performance monitoring outsourced services
FNSSMS601 Provide advice in self-managed superannuation funds

19
 Unit code Unit title
FNSSMS602 Consider taxation requirements when advising in self-managed
superannuation funds
FNSSMS603 Apply legislative and operational requirements to advising in self-managed
superannuation funds
FNSSUP301 Process superannuation fund payments
FNSSUP302 Establish, maintain and process superannuation records
FNSSUP303 Process superannuation contributions
FNSSUP304 Process superannuation rollover benefits
FNSSUP305 Implement member investment instructions
FNSSUP306 Terminate superannuation plans
FNSSUP401 Process complex superannuation benefit or insurance claim
FNSSUP402 Assist in meeting superannuation compliance requirements
FNSSUP404 Establish and customise employer accounts
FNSSUP406 Establish and maintain fund or plan
FNSSUP407 Assess complex superannuation benefit or insurance claim
FNSSUP408 Participate in fund review practices
FNSSUP409 Provide specialist retirement income stream information to clients
FNSSUP410 Establish and administer retirement income streams
FNSSUP411 Terminate retirement income streams
FNSSUP412 Determine impact of social security entitlements on retirement income
FNSSUP413 Apply knowledge of retirement planning issues when dealing with clients
FNSSUP414 Develop and apply knowledge of aged care
FNSSUP501 Supervise complaints procedures
FNSSUP502 Supervise insurer liaison
FNSSUP503 Develop client relationships with employers and establish superannuation systems
FNSSUP504 Provide advanced customer service to superannuation clients
FNSSUP505 Produce reports for superannuation
FNSSUP506 Supervise and monitor operational guidelines in a superannuation organisation
FNSSUP507 Review compliance with regulatory and contractual requirements
FNSSUP508 Provide effective information to members
FNSSUP509 Work within a defined benefit fund
FNSSUP510 Supervise insurance tender process
FNSSUP601 Liaise with and support trustees
FNSSUP602 Manage official complaints procedures and proceedings
FNSSUP603 Integrate investment strategy with fund operations
FNSTPB401 Complete business activity and instalment activity statements
FNSTPB402 Establish and maintain payroll systems
FNSTPB503 Apply legal principles in consumer and contract law
FNSTPB504 Apply legal principles in corporations and trust law
FNSTPB505 Apply legal principles in property law
FNSTPB506 Apply taxation requirements when providing tax (financial) advice services
FNSTPB507 Apply legal principles in commercial law when providing tax (financial)
advice services

Units of competency with prerequisite unit requirements

Unit code and title Prerequisite unit code and title

FNSACC514 Prepare financial reports for BSBFIA401 Prepare financial reports
corporate entities FNSACC311 Process financial transactions and
extract interim reports

20
Unit code and title
FNSACC601 Prepare and administer tax
documentation for legal entities
FNSACC602 Audit and report on financial
systems and records
FNSACC603 Implement tax plans and evaluate
tax obligations
FNSACC606 Conduct internal audit
FNSACC607 Evaluate business performance
FNSACC608 Evaluate organisation’s financial
performance
FNSACC609 Evaluate financial risk
FNSACC610 Develop and implement financial
strategies
FNSACC613 Prepare and analyse management
accounting information
FNSACC614 Prepare complex corporate financial
reports
FNSASIC303 Provide advice on first home saver
account deposit products and non-cash payments
FNSASICL503 Provide advice in the regulated
emissions market
FNSASICQ503 Provide advice in first home saver
market linked accounts
FNSASICR503 Provide advice in margin lending
FNSAISCS503 Provide advice in foreign exchange
Prerequisite unit code and title
FNSACC512 Prepare tax documentation for
individuals
FNSACC516 Implement and maintain internal
control procedures
FNSACC512 Prepare tax documentation for
individuals
FNSACC516 Implement and maintain internal
control procedures
FNSACC511 Provide financial and business
performance information
FNSACC511 Provide financial and business
performance information
FNSACC511 Provide financial and business
performance information
FNSACC511 Provide financial and business
performance information
FNSACC517 Provide management
accounting information
FNSACC514 Prepare financial reports for
corporate entities
FNSASIC301 Establish client relationship and
analyse needs
FNSASIC302 Develop, present and negotiate
client solutions
FNSFMK501 Analyse financial markets and
information
FNSFMK502 Analyse financial market products
for client
FNSFMK503 Advise clients on financial risk
FNSFMK512 Apply knowledge of the emissions
market
FNSINC501 Conduct product research to support
recommendations
FNSIAD501 Provide appropriate services, advice
and products to clients
FNSCUS505 Determine client requirements
and expectations
FNSCUS506 Record and implement client
instructions
FNSINC501 Conduct product research to support
recommendations
FNSIAD501 Provide appropriate services, advice
and products to clients
FNSCUS505 Determine client requirements and
expectations
FNSCUS506 Record and implement client
instructions
FNSINC501 Conduct product research to support
recommendations
FNSIAD501 Provide appropriate services, advice
and products to clients
FNSCUS505 Determine client requirements and
expectations
FNSCUS506 Record and implement client
instructions
21
Unit code and title
FNSASICT503 Provide advice in managed
investments
FNSASICU503 Provide advice in superannuation
FNSASICV503 Provide advice in derivatives
FNSASICW503 Provide advice in securities
FNSASICX503 Provide advice in life insurance
FNSASICY503 Provide advice in insurance
broking
FNSASICZ503 Provide advice in
financial planning
FNSCRD505 Respond to corporate insolvency
situations
Prerequisite unit code and title
FNSINC501 Conduct product research to support
recommendations
FNSIAD501 Provide appropriate services, advice
and products to clients
FNSCUS505 Determine client requirements and
expectations
FNSCUS506 Record and implement client
instructions
FNSINC501 Conduct product research to
support recommendations
FNSIAD501 Provide appropriate services, advices
and products to clients
FNSCUS505 Determine client requirements
and expectations
FNSCUS506 Record and implement client
instructions
FNSFMK502 Analyse financial market products
for client
FNSFMK503 Advise clients on financial risk
FNSCUS505 Determine client requirements
and expectations
FNSCUS506 Record and implement client
instructions
FNSFMK502 Analyse financial market products
for client
FNSFMK503 Advise clients on financial risk
FNSCUS505 Determine client requirements
and expectations
FNSCUS506 Record and implement client
instructions
FNSINC501 Conduct product research to support
recommendations
FNSIAD501 Provide appropriate services, advice
and products to clients
FNSCUS505 Determine client requirements and
expectations
FNSCUS506 Record and implement client
instructions
FNSIBK406 Deliver professional insurance
broking services
FNSIBK508 Implement changes to broking
client’s insurance program
FNSIBK513 Prepare submission for new business
FNSFPL501 Comply with financial planning
practice ethical and operational guidelines and
regulations
FNSFPL502 Conduct financial planning analysis
and research
FNSFPL503 Develop and prepare financial plan
FNSFPL504 Implement financial plan
FNSFPL505 Review financial plans and provide
ongoing service
FNSCRD501 Respond to personal
insolvency Situations
22
Imported units of competency

A range of units of competency have been imported into the FNS Financial Services Training Package to
provide greater flexibility, choice and transferability of skills within the industry.

Imported unit code Imported unit title Origin

BSBADM311 Maintain business resources BSB Business Services
Training Package
BSBADM405 Organise meetings BSB Business Services
Training Package
BSBADM502 Manage meetings BSB Business Services
Training Package
BSBCMM301 Process customer complaints BSB Business Services
Training Package
BSBCMM401 Make a presentation BSB Business Services
Training Package
BSBCNV501 Take instructions in relation to a BSB Business Services
transaction Training Package
BSBCNV502 Read and interpret a legal document and BSB Business Services
provide advice Training Package
BSBCNV503 Analyse and interpret legal requirements BSB Business Services
for a transaction Training Package
BSBCNV506 Establish and manage a trust account BSB Business Services
Training Package
BSBCOM401 Organise and monitor the operation of BSB Business Services
compliance management system Training Package
BSBCOM402 Implement processes for the management BSB Business Services
of a breach in compliance requirements Training Package
BSBCOM405 Promote compliance with legislation BSB Business Services
Training Package
BSBCOM406 Conduct work within a compliance BSB Business Services
framework Training Package
BSBCOM501 Identify and interpret compliance BSB Business Services
requirements Training Package
BSBCOM503 Develop processes for the management of BSB Business Services
breaches in compliance requirements Training Package
BSBCOM602 Develop and create compliance BSB Business Services
requirements Training Package
BSBCOM603 Plan and establish compliance management BSB Business Services
systems Training Package
BSBCUE203 Conduct customer engagement BSB Business Services
Training Package
BSBCUE301 Use multiple information systems BSB Business Services
Training Package
BSBCUE303 Conduct a telemarketing campaign BSB Business Services
Training Package
BSBCUE304 Provide sales solutions to customers BSB Business Services
Training Package
BSBCUE307 Work effectively in customer engagement BSB Business Services
Training Package
BSBCUE309 Develop product and service knowledge for BSB Business Services
customer engagement operation Training Package
BSBCUE404 Collect, analyse and record information BSB Business Services
Training Package

23
Imported unit code Imported unit title Origin
BSBCUE405 Survey stakeholders to gather and BSB Business Services
record information Training Package
BSBCUE407 Administer customer BSB Business Services
engagement technology Training Package
BSBCUE504 Integrate customer engagement within BSB Business Services
the organisation Training Package
BSBCUS301 Deliver and monitor a service to customers BSB Business Services
Training Package
BSBCUS401 Coordinate implementation of customer BSB Business Services
service strategies Training Package
BSBCUS402 Address customer needs BSB Business Services
Training Package
BSBCUS403 Implement customer service standards BSB Business Services
Training Package
BSBCUS501 Manage quality customer service BSB Business Services
Training Package
BSBFIA301 Maintain financial records BSB Business Services
Training Package
BSBFIA302 Process payroll BSB Business Services
Training Package
BSBFIA304 Maintain a general ledger BSB Business Services
Training Package
BSBFIA401 Prepare financial reports BSB Business Services
Training Package
BSBFIM501 Manage budgets and financial plans BSB Business Services
Training Package
BSBFIM502 Manage payroll BSB Business Services
Training Package
BSBFLM303 Contribute to effective workplace BSB Business Services
relationships Training Package
BSBFLM305 Support operational plan BSB Business Services
Training Package
BSBFLM309 Support continuous improvement systems BSB Business Services
and processes Training Package
BSBFRA301 Work within a franchise BSB Business Services
Training Package
BSBFRA403 Manage relationship with franchisor BSB Business Services
Training Package
BSBGOV403 Analyse financial reports and budgets BSB Business Services
Training Package
BSBHRM501 Manage human resource services BSB Business Services
Training Package
BSBHRM505 Manage remuneration and employee BSB Business Services
benefits Training Package
BSBHRM506 Manage recruitment selection and BSB Business Services
induction processes Training Package
BSBHRM507 Manage separation or termination BSB Business Services
Training Package
BSBHRM604 Manage employee relations BSB Business Services
Training Package
BSBINM302 Utilise a knowledge management system BSB Business Services
Training Package
BSBINM401 Implement workplace information system BSB Business Services
Training Package

24
Imported unit code Imported unit title Origin
BSBINM501 Manage an information or knowledge BSB Business Services
management system Training Package
BSBINM601 Manage knowledge and information BSB Business Services
Training Package
BSBINN301 Promote innovation in a team environment BSB Business Services
Training Package
BSBINN501 Establish systems that support innovation BSB Business Services
Training Package
BSBINN502 Build and sustain an innovative BSB Business Services
work environment Training Package
BSBINN601 Lead and manage organisational change BSB Business Services
Training Package
BSBITB501 Establish and maintain a workgroup BSB Business Services
computer network Training Package
BSBITS401 Maintain business technology BSB Business Services
Training Package
BSBITU304 Produce spreadsheets BSB Business Services
Training Package
BSBITU305 Conduct online transactions BSB Business Services
Training Package
BSBITU306 Design and produce business documents BSB Business Services
Training Package
BSBITU402 Develop and use complex spreadsheets BSB Business Services
Training Package
BSBLDR402 Lead effective workplace relationships BSB Business Services
Training Package
BSBLDR403 Lead team effectiveness BSB Business Services
Training Package
BSBLDR501 Develop and use emotional intelligence BSB Business Services
Training Package
BSBLDR502 Lead and manage effective BSB Business Services
workplace relationships Training Package
BSBLDR803 Develop and cultivate collaborative BSB Business Services
partnerships and relationships Training Package
BSBLED503 Maintain and enhance professional practice BSB Business Services
Training Package
BSBLEG301 Apply knowledge of the legal system to BSB Business Services
complete tasks Training Package
BSBLEG413 Identify and apply the legal framework BSB Business Services
Training Package
BSBLEG415 Apply the principles of contract law BSB Business Services
Training Package
BSBLEG513 Apply legal principles in corporations BSB Business Services
law matters Training Package
BSBMGT401 Show leadership in the workplace BSB Business Services
Training Package
BSBMGT402 Implement operational plan BSB Business Services
Training Package
BSBMGT403 Implement continuous improvement BSB Business Services
Training Package
BSBMGT405 Provide personal leadership BSB Business Services
Training Package
BSBMGT502 Manage people performance BSB Business Services
Training Package

25
Imported unit code Imported unit title Origin
BSBMGT516 Facilitate continuous improvement BSB Business Services
Training Package
BSBMGT517 Manage operational plan BSB Business Services
Training Package
BSBMGT605 Provide leadership across the organisation BSB Business Services
Training Package
BSBMGT608 Manage innovation and BSB Business Services
continuous improvement Training Package
BSBMGT615 Contribute to organisation development BSB Business Services
Training Package
BSBMGT616 Develop and implement strategic plans BSB Business Services
Training Package
BSBMGT617 Develop and implement a business plan BSB Business Services
Training Package
BSBMGT802 Lead design and review of BSB Business Services
enterprise systems Training Package
BSBMKG501 Identify and evaluate BSB Business Services
marketing opportunities Training Package
BSBPMG411 Apply project quality-management BSB Business Services
techniques Training Package
BSBPMG412 Apply project cost-management techniques BSB Business Services
Training Package
BSBPMG415 Apply project risk-management techniques BSB Business Services
Training Package
BSBPMG517 Manage project risk BSB Business Services
Training Package
BSBPMG521 Manage project integration BSB Business Services
Training Package
BSBPMG522 Undertake project work BSB Business Services
Training Package
BSBPMG803 Manage and review portfolio performance BSB Business Services
Training Package
BSBPMG805 Lead the portfolio BSB Business Services
Training Package
BSBPMG806 Manage portfolio communications BSB Business Services
and change Training Package
BSBPMG808 Manage portfolio risk BSB Business Services
Training Package
BSBREL402 Build client relationships and business BSB Business Services
networks Training Package
BSBRES401 Analyse and present research information BSB Business Services
Training Package
BSBRKG303 Retrieve information from records BSB Business Services
Training Package
BSBRKG304 Maintain business records BSB Business Services
Training Package
BSBRKG404 Monitor and maintain records in an online BSB Business Services
environment Training Package
BSBRSK401 Identify risk and apply risk management BSB Business Services
processes Training Package
BSBRSK501 Manage risk BSB Business Services
Training Package
BSBSLS501 Develop a sales plan BSB Business Services
Training Package

26
Imported unit code Imported unit title Origin
BSBSLS502 Lead and manage a sales team BSB Business Services
Training Package
BSBSMB401 Establish legal and risk management BSB Business Services
requirements of small business Training Package
BSBSMB402 Plan small business finances BSB Business Services
Training Package
BSBSMB405 Monitor and manage small BSB Business Services
business operations Training Package
BSBSMB407 Manage a small team BSB Business Services
Training Package
BSBSMB409 Build and maintain relationships with small BSB Business Services
business stakeholders Training Package
BSBSMB411 Manage specialist external advisory services BSB Business Services
Training Package
BSBSMB412 Introduce cloud computing into BSB Business Services
business operations Training Package
BSBSUS401 Implement and monitor environmentally BSB Business Services
sustainable work practices Training Package
BSBSUS501 Develop workplace policy and procedures BSB Business Services
for sustainability Training Package
BSBWHS201 Contribute to health and safety of self BSB Business Services
and others Training Package
BSBWHS303 Participate in WHS hazard identification, BSB Business Services
risk assessment and risk control Training Package
BSBWHS404 Contribute to WHS hazard identification, BSB Business Services
risk assessment and risk control Training Package
BSBWHS503 Contribute to the systematic management BSB Business Services
WHS risk Training Package
BSBWHS504 Manage WHS risks BSB Business Services
Training Package
BSBWHS507 Contribute to managing WHS BSB Business Services
information systems Training Package
BSBWHS508 Manage WHS hazards associated with plant BSB Business Services
Training Package
BSBWHS510 Contribute to implementing BSB Business Services
emergency procedures Training Package
BSBWHS603 Implement WHS risk management BSB Business Services
Training Package
BSBWHS604 Evaluate the WHS performance BSB Business Services
of organisations Training Package
BSBWHS605 Develop, implement and maintain WHS BSB Business Services
management systems Training Package
BSBWHS606 Conduct a WHS audit BSB Business Services
Training Package
BSBWHS607 Apply ergonomics to manage WHS risks BSB Business Services
Training Package
BSBWHS608 Assist with applying occupational hygiene BSB Business Services
manage WHS risks Training Package
BSBWHS609 Advise on the application of safe design BSB Business Services
principles to control WHS risks Training Package
BSBWOR203 Work effectively with others BSB Business Services
Training Package
BSBWOR204 Use business technology BSB Business Services
Training Package

27
Imported unit code Imported unit title Origin
BSBWOR301 Organise personal work priorities BSB Business Services
and development Training Package
BSBWOR404 Develop work priorities BSB Business Services
Training Package
BSBWOR501 Manage personal work priorities and BSB Business Services
professional development Training Package
BSBWOR502 Lead and manage team effectiveness BSB Business Services
Training Package
BSBWRT301 Write simple documents BSB Business Services
Training Package
CHCCCS025 Support relationships with carers BSB Business Services
and families Training Package
CHCCCS028 Provide client-centred support to people BSB Business Services
in crisis Training Package
CHCCOM002 Use communication to build relationships BSB Business Services
Training Package
CHCCSM004 Coordinate complex case requirements BSB Business Services
Training Package
CHCCSM006 Provide case management supervision CHC Community Services
Training Package
CHCDIS004 Communicate using augmentative and CHC Community Services
alternative communication strategies Training Package
CHCDIV001 Work with diverse people CHC Community Services
Training Package
MSMSUP390 Use structured problem-solving tools MSM Manufacturing
Training Package
PSPGEN036 Provide workplace coaching PSP12 Public Sector
Training Package
PSPGEN051 Conduct evaluations PSP12 Public Sector
Training Package
PSPGEN053 Provide leadership PSP12 Public Sector
Training Package
PSPGOV516A Develop and use emotional intelligence PSP12 Public Sector
Training Package
PSPINM003 Undertake initial rehabilitation PSP12 Public Sector
assessments Training Package
PSPINM005 Conduct situational workplace assessments PSP12 Public Sector
Training Package
PSPINM006 Develop return to work plans PSP12 Public Sector
Training Package
PSPINM007 Implement and monitor return to PSP12 Public Sector
work plans Training Package
PSPINM014 Contribute to a quality injury PSP12 Public Sector
management system Training Package
TAEDEL402 Plan, organise and facilitate learning in TAE Training and Education
the workplace Training Package
TAEDEL404 Mentor in the workplace TAE Training and Education
Training Package

28
Appendix 2 Mapping
information
The information provided is a general summary only. PwC’s Skills for Australia recommends using the
Compare Content Tool available on the training.gov.au (TGA) website for more information about specific
changes.

Qualification mapping
Mapping from FNS Financial Services Training Package version 2.1 to FNS Financial Services Training
Package version 3.0.

Qualification code and Qualification code and Comments Equivalence to previous

title FNS Financial title FNS Financial qualification
Services version 2.1 Services version 3.0
FNS30315 Certificate FNS30317 Certificate Core units changed. No equivalent
III in Accounts III in Accounts Packaging rules qualification.
Administration Administration changed. Three units
removed from elective
unit list.
FNS40215 Certificate FNS40217 Certificate New qualification that No equivalent
IV in Bookkeeping IV in Accounting and reflects the integration qualification.
FNS40615 Certificate Bookkeeping of two now superseded
IV in Accounting qualifications:
FNS40215 Certificate
IV in Bookkeeping and
FNS40615 Certificate
IV in Accounting.
FNS50215 Diploma of FNS50217 Diploma of Entry requirements No equivalent
Accounting Accounting added. Changes to qualification.
elective unit list.
No previous FNS50417 Diploma of New qualification. No equivalent
qualification Payroll Services qualification.
FNS60215 Advanced FNS60217 Advanced Entry requirements No equivalent
Diploma of Accounting Diploma of Accounting added. Changes to qualification.
elective unit list.

Skill set mapping

Skill Set code and title FNS Skill Set code and title FNS Financial Comments
Financial Services version 2.1 Services version 3.0
No previous skill set FNSSS00012 Payroll Administrator Skill New skill set.
Set
No previous skill set FNSSS00013 Business Ethics and Conduct New skill set.
Skill Set
No previous skill set FNSSS00014 Accounting Principles Skill New skill set.
Set
No previous skill set FNSSS00015 Advanced Accounting New skill set.
Principles Skill Set

29
Unit mapping
Unit of competency Unit of competency Comments Equivalence to
code and title FNS code and title FNS previous unit
Financial Services Financial Services
version 2.1 version 3.0
No previous unit FNSACC304 New unit. No equivalent
Conduct business unit.
activities using a
computerised
accounting system
No previous unit FNSINC503 Identify New unit. No equivalent
situations requiring unit.
complex ethical
decision making
No previous unit FNSINC504 Apply New unit. No equivalent
ethical frameworks unit.
and principles to
make and act on
decisions
No previous unit FNSPAY501 Process New unit. No equivalent
salary packaging unit.
arrangements and
additional
allowances in payroll
No previous unit FNSPAY502 Process New unit. No equivalent
superannuation unit.
payments in payroll
No previous unit FNSPAY503 Process New unit. No equivalent
complex employee unit.
terminations in
payroll
No previous unit FNSPAY504 New unit. No equivalent
Interpret and apply unit.
knowledge of
industrial regulations
relevant to payroll
No previous unit FNSPAY505 New unit. No equivalent
Interpret and apply unit.
knowledge of
taxation systems
relevant to payroll
FNSACC301 Process FNSACC311 Process Elements 5 and 6 integrated into Equivalent unit.
financial transactions financial transactions one element. Updates to other
and extract interim and extract interim elements, performance criteria
reports reports and assessment requirements.
FNSACC302 FNSACC312 Updates to elements, performance Equivalent unit.
Administer subsidiary Administer criteria and assessment
accounts and ledgers subsidiary accounts requirements.
and ledgers
FNSACC303 Perform FNSACC313 Perform Updates to performance criteria. Equivalent unit.
financial calculations financial calculations Updates to assessment
requirements to expand required
performance evidence.

30
Unit of competency Unit of competency Comments Equivalence to
code and title FNS code and title FNS previous unit
Financial Services Financial Services
version 2.1 version 3.0
FNSACC401 Process FNSACC411 Process Minor edits to performance Equivalent unit.
business tax business tax criteria to clarify intent of unit.
requirements requirements
FNSACC402 Prepare FNSACC412 Prepare Edits to performance criteria to Equivalent unit.
operational budgets operational budgets clarify intent of unit. Added
performance criterion to
Element 3.
FNSACC403 Make FNSACC413 Make Edits to performance criteria to Equivalent unit.
decisions in a legal decisions in a legal clarify their intent. Added
context context performance criterion to Element
2. Expanded knowledge evidence.
FNSACC404 Prepare FNSACC414 Prepare Edits to performance criteria and Equivalent unit.
financial statements financial statements assessment requirements to clarify
for non-reporting for non-reporting intent.
entities entities
FNSACC406 Set up FNSACC416 Set up Elements 4 and 5 integrated into Equivalent unit.
and operate a and operate a one element. Updates to
computerised computerised assessment requirements.
accounting system accounting system
FNSACC501 Provide FNSACC511 Provide Changes to Elements 1 and 2. Equivalent unit.
financial and business financial and Minor edits throughout unit to
performance business clarify intent.
information performance
information
FNSACC502 Prepare FNSACC512 Prepare Updates to performance criteria to Equivalent unit.
tax documentation for tax documentation clarify intent of unit.
individuals for individuals
FNSACC503 Manage FNSACC513 Manage Changes to performance criteria in Equivalent unit.
budgets and forecasts budgets and Elements 1–3. Expanded
forecasts performance evidence and
knowledge evidence.
FNSACC504 Prepare FNSACC514 Prepare Edits to performance criteria to Equivalent unit.
financial reports for financial reports for clarify intent.
corporate entities corporate entities
FNSACC506 FNSACC516 Edits to performance criteria and Equivalent unit.
Implement and Implement and elements. Updates to performance
maintain internal maintain internal evidence and knowledge evidence.
control procedures control procedures
FNSACC507 Provide FNSACC517 Provide Minor edits to performance Equivalent unit.
management management criteria to clarify intent. Edits to
accounting accounting knowledge evidence to better align
information information with performance criteria.
FNSACC604 Monitor FNSACC624 Monitor Edits to performance criteria to Equivalent unit.
corporate governance corporate clarify intent. Expanded
activities governance activities performance evidence.
FNSBKG401 Develop FNSACC408 Work Updates to Elements 1 and 2. Not equivalent
and implement effectively in the Added Elements 4 and 5. Updates unit.
policies and accounting and to performance evidence and
procedures relevant to bookkeeping assessment conditions.
bookkeeping activities industry

31
Unit of competency Unit of competency Comments Equivalence to
code and title FNS code and title FNS previous unit
Financial Services Financial Services
version 2.1 version 3.0
FNSBKG402 Establish N/A Unit deleted from training N/A
a cash accounting package.
system
FNSBKG403 Establish N/A Unit deleted from training N/A
an accrual accounting package.
system
FNSBKG404 Carry out FNSTPB401 Updated to meet Tax Practitioners Equivalent unit.
business activity and Complete business Board requirements. Minor
instalment activity activity and editorial changes to unit title.
statement tasks instalment activity Removed performance criteria
statements from Elements 3 and 5.
FNSBKG405 Establish FNSTPB402 Updated to meet Tax Practitioners Equivalent unit.
and maintain a payroll Establish and Board requirements. Minor
system maintain payroll editorial changes to unit title.
systems Changes to performance criteria in
Elements 1–3. Changes to
assessment requirements to clarify
intent.

32
These materials were developed by PwC’s Skills for Australia in association with the
Commonwealth Government through the Department of Education and Training.

Copyright Statement

© 2017 Commonwealth of Australia

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Australia

License. (http://creativecommons.org/licenses/by-nc-sa/3.0/au/)

This licence lets you distribute, remix and build upon the work, but only if it is for noncommercial
purposes, you credit the original creator/s (and any other nominated parties) and you license your
derivative works under the same terms.

The copyright of any adaptations and/or modifications to this material remains with the Commonwealth
of Australia.

This is a modified document based on materials prepared by Innovation and Business Skills Australia Ltd,
the original of which can be found on the IBSA website http://www.ibsa.org.au.

Disclaimer

While care has been taken in the preparation of this material, Department of Education and Training and
the original developer do not warrant that any licensing or registration requirements specified here are
either complete or up-to-date for your State or Territory.

The Department of Education and Training and the original developer do not accept any liability for any
damage or loss (including indirect and consequential loss) incurred by any person as a result of relying on
the information contained in this material.

The Commonwealth, through the Department of Education and Training, does not accept any liability to
any person for the information or advice (or the use of such information or advice) which is provided in
this material or incorporated into it by reference. The information is provided on the basis that all persons
accessing this material undertake responsibility for assessing the relevance and accuracy of its content. No
liability is accepted for any information or services which may appear in any other format. No
responsibility is taken for any information or services which may appear on any linked websites.

Published by:

PwC’s Skills for Australia

One International Towers Sydney
Watermans Quay
Barangaroo NSW 2000 Australia

E: info@skillsforaustralia.com
W: www.skillsforaustralia.com

First Published: August 2016

Release Date: January 2018

© 2017 PricewaterhouseCoopers. All rights reserved. PwC refers to the Australian member firm, and may
sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see
www.pwc.com/structure for further details.

At PwC Australia our purpose is to build trust in society and solve important problems. We’re a network
of firms in 157 countries with more than 208,000 people who are committed to delivering quality in
assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at
www.pwc.com.au

33
Liability limited by a scheme approved under Professional Standards Legislation.

127041867

34