1. Complete the following activities:
2. Prepare for your meeting. Conduct research and develop a report on key financial compliance requirements and liabilities for tax in preparation for your meeting.

• Develop a short report to provide to the management team at the meeting. The report should explain:
• GST reporting requirements (the company is required to report quarterly)
• PAYG withholding obligations
• PAYG income tax instalment
• Payroll tax obligations (state government)
• Superannuation entitlements and requirement to comply with legislation regarding frequency of payment, choice of fund and reporting to staff.
• Review the financial management policy and procedure that sets out reporting requirements and financial delegations. Include your findings in your report.
• Ensure your report is accurate and errorfree, andset out in a standard business format.
• Print copies of your report and your budget that you have developed for your meeting.

1. Participate in the budget meeting(Role-play - template provided below).

• At the meeting you will need to discuss:
• Discuss the budget you have developed and the rationale for the budget
• Discuss the amounts allocated to activity, including the conference and the e-book.
• Provide an outline of the financial policy and procedureso as toensure that roles and responsibilities are understood and risks of misappropriation of funds/incorrect recording of financial transactions is minimised.
• Explain the company's key financial compliance requirements and tax liabilities.
• At the meeting ensure you provide your assessor with all required documentation and you will need to demonstrate effective communication skills by:
• Speaking clearly
• Providing concise information in a language that is appropriate for the audience
• Responding to questions as required
• Using active listening techniques to confirm or clarify information