An application may have one of the following status values.
Submitted
Your application has been successfully submitted to the Department.
Received
Your application has been received by the Department and will be assessed.
Initial assessment
The application has gone through the initial checks. Please check correspondence for any additional information you may need to provide.
Further assessment
The application is currently being assessed. The Department will contact you if further supporting documentation is required.
Approved
For citizenship applications, this indicates that the application has been approved. In most cases, the applicant(s) will not become Australian citizens until they attend a citizenship conferral ceremony.
Finalised
Your application has been decided. Refer to correspondence for details of the outcome.
http://www.homeaffairs.gov.au/help-text/eplus/Pages/elp-h1305.aspx