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Australian Tax Accountant Practical Training Program

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Course Detail

Tax Accountant Practical Training Program candidates are taken through six intensive modules with videos and case studies which focus on developing the practical skills required in accounting – skills that make you an attractive asset to any CPA or Public Accounting Firm.

Within six structured modules, candidates will be involved in solving real-life case scenarios under the leadership of a FCPA accountant. This is NOT textbook accounting.

Once you have successfully completed the Tax Accountant Practical Training Program you will confidently be able to perform Tax & Compliance Tasks correctly and professionally.

Course Features

  • Successfully understand all the Tax Compliance, completing BAS, IAS, Payroll, STP, Tax Returns and Financial Accounts
  • Know how to get the job done, not just theory and nice to know information
  • Have a full framework and step-by-step instructions how to do the work confidently and perfectly

Eng Sivieng, TMS Accountants

Instructor

For over 30 years Eng Sivieng has run her own Australian Tax Accounting firm. A key to her success has been in her ability to train her accountants so that they would be productive and capable of professionally processing Australian Tax Compliance tasks.

  • 60+ on-demand videos
  • Full Lifetime Access
  • Quizzes and Assessments
  • Certificate of Completion

Course Content

6 modules + bonus real life case practice • 42 lessons • 65 videos

Understanding how Goods and Services Tax (GST) works in Australia is important for your business. In this module, we will discuss what GST is, the different taxable supplies and BAS excluded transactions. You will also learn about the Australian Business Number (ABN) and how to determine if you need to register for it. 

In this module, you will understand what a Business Activity Statement (BAS) is and what activities you need to report in the BAS form. By the end of this module, you’ll learn to prepare, process, prove and package any tasks. You will also learn how to set up XERO and use it in preparing your BAS. You’ll also get a chance to practice how to prepare BAS with a real client case.

In this module, you will learn about the PAYG Withholding system and how to process your payroll using XERO. You will also learn about the employer’s obligations and the five types of PAYG Withholding. Be knowledgeable about the process and how to set up Single Touch Payroll in XERO.

Pay as you go (PAYG) instalments are regular prepayments of the tax on your business and investment income. By using real case examples, you will learn about PAYGI and how to compute it. You will also learn in this module how to complete the Instalment Activity Statement (IAS) and how to check it using XERO.

Understanding your client’s business industry and structure is the first step in the preparation of the financial statement. In this module, you will learn the different structures or entities and their corresponding statutory compliance requirements. We will also teach you how to complete a set of financial accounts for an existing real client from source documents to financial accounts.

This is a “get your hands dirty”, a training module where you learn how to do tax returns for a Service Industry Client from start to finish. You will learn the Ins and Outs of the business return, learn how to complete a business return starting with the Profit and Loss Statement and learn to look beyond the profit and loss statement for deductions. You will also learn the tax reconciliation process from the financial accounts to the tax return and why you need to reconcile Balance Sheet adjustments. By the end of this module, you will have knowledge how to complete a financial account and tax return for a client.

This real-world case will demonstrate the process of preparing Financial Accounts and Tax Return for a Kitchen Joinery Company. The steps include setting up the entity using either XERO or HandiLedger, establishing a Conversion Balance for prior year financial accounts, importing Bank Statements,  Cash Coding, set up Payroll and STP, setting up Depreciation and calculating Depreciation, reconciling and adjusting Balance sheet Items, reviewing Profit and Loss accounts and adjustments, calculating Div 7A and performing Journal entries, reconciling and amending Annual GST return to match Final Financial accounts, making End of year Journal entry adjustments, calculating FBT for employees and making journal adjustments, preparing working papers, and calculating taxable income.

Public Accountant Tests:

Australian Senior Public Accountant Test

20 questions • 90 minutes

Australian Intermediate Public Accountant Test

20 questions • 90 minutes

Australian Junior Public Accountant Test

10 questions • 60 minutes

What Our Students Have To Say

  • “I am 100% confident that I will be a good accountant after a few days practice in TMS…Thanks Eng for sharing your experience, knowledge and ways. I am more motivated and feel competent.”
    S. Devkoia
  • “The training was very informative, and it will be very useful in our work. The trainer is very knowledgeable and the topics are well explained.”
    Roseanne
  • The technical training program allowed me to gain this “on the job” experience to be able to get my first job in the public practice sector of the accounting industry. The program not only gave students the practical experience, but also instilled confidence that they can do it.
    Nick Zaharioudakis
    Accounting Firm Owner
  • The course was organized effectively, and the material was easy to understand due to its clarity. The instructor was highly knowledgeable and displayed exceptional presentation abilities.
    Darcy

  • We’ve put 4 of our team members through the TMS Tax Accountant Practical Training Program and the program has been highly successful in rapidly upskilling those team members in practical accounting skills.
    Liz
    Accounting Firm Owner, Brisbane
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Frequently Asked Questions

It is a practical training program designed to bring the inexperienced up to speed quickly, showing step-by-step how to accomplish a wide range of tasks in the Public Accounting firm.

The course will provide your staff with an entire system to follow. They will gain the right kind of knowledge, experience and skills to do real-world work with minimum supervision.

After completing the program, your staff will become more confident and with more confidence, they will become more competent and their results dramatically improved.

You will receive access to all modules with 60+ videos of practical training and entire system to follow.

Access will immediately be provided upon registration and moves at your own pace. 

To purchase, click ‘Start Course’ at the top of the page to go directly to WizeMarket or click the link below.

WizeMarket Practical Training Program

After purchase, you will be provided a group leader account and dashboard where you can enrol your staff members to the course.