It is but there are a number of asterisks that must go with it.
For one thing, the flight number determines accrual, so again if you are on a QF flight but it carries an AY flight number, in the calculator you must select FinnAir (AY) to get an accurate estimate. Second, for partners like JetStar and BA you need to know what the fare code translates to for Qantas status credit and points accrual. Simply because the flight is business or first class does not mean you will earn at that accrual rate on partners. For instance, American First class domestically is almost always classified as business class for the purpose of status credit accrual. Similarly, if you fly Malaysian business, interestingly enough that will often count as Economy Flexible. Further details on how this different airline partners fares map to Qantas earn categories
can be found here.