Question
1 List and describe 4 principles of corporate governance 2 Describe the following accounting principles Doctrine of Consistency Doctrine of Disclosure Doctrine of Materiality Doctrine
1 List and describe 4 principles of corporate governance
2 Describe the following accounting principles
Doctrine of Consistency
Doctrine of Disclosure
Doctrine of Materiality
Doctrine of Conservatism
3 What does it mean to state that ethical behaviour includes being objective and independent?
4 What constitutes conflict of interest?
5 Explain the term 'Confidentiality'. What legislation covers this?
6 Describe the key components and advantages of an integrated computerised accounting system
7 What is the difference between cash and accrual accounting?
8 What is the difference between single and double entry accounting?
9 Explain the difference between cash and accrual reporting for a business
10 Answer the following questions in relation to the simplified depreciation rules that relate to small business entities
-What accessing this concession means
-What not accessing this concession means
-How do you access this concession?
11 Answer the following questions in relation to the immediate deduction for certain prepaid expenses rules that relate to small business entities
-What accessing this concession means
-What not accessing this concession means
-How do you access this concession?
12 What us the annual depreciation expense using straight-line depreciation, of a vehicle that depreciates over 5 years, was purchased at $17000, and will have a salvage value of $2000 - Students must show their working.
14 What items should be included in the W1 label at the PAYG tax withheld section of you BAS statement?
15 Describe 8 tips you would give someone when who is presenting financial data to their employer for the first time.
16 Explain the best purpose for each chart listed below
Line Charts
Bar Charts
Pie Charts
17 Outline at least 1 reporting / payment obligation a company has for each month of the year.
Month Reporting Obligation
January
February
March
April
May
June
July
August
September
October
November
December
18 Provide an overview of a company's legal requirements relating to each of the following delegated authorities? Please note that this question is not asking about the legislation, but about a company's responsibilities in relation to communication and reporting.
Australian Taxation Office
State Revenue Office
State Work Cover Authority
ASIC
19 Provide a brief explanation of the following taxation laws
Wine equalisation tax
Luxury car tax
Fuel tax
20 Describe the steps that are in most company budgeting procedures
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