FNSACC311: Process financial transactions and extract interim reports (Participant guide) Summative assessment 1 Question 1 Describe how to manually process financial transactions and outline the key features of manual and computerised accounting systems. (300 words) FNSACCA12: Prepare operational budgets (Participant guide) Summative assessment 2 Project Obtain copies of an organisation's annual report for the last two years. You might need to conduct appropriate research. If you cannot find suitable reports contact your assessor. Answer the following questions using the latest annual report: 1. To who is this report disseminated and how is this done? 2. Why do these people need the information contained in the annual report? 3. What financial information does the report offer? Describe the contents of the report and explain wha i tels you about the business's activties-successes and non-successes- during the year. 4. Examine the financial summaries for information about the fiscal condition of the organisation. Did the organisation show a profit? 5. What sorts of recommendations are made and what suggestions are made regarding business activities for the upcoming year? Examine the annual report from the previous year. Compare the two and report on whether the projections from the first report were accurate. Were the recommended changes/ improvements made and how did they impact on the next year's report? Your report should be a minimum of 3 pages long. Is there any emphasis on waste reduction? If so, describe it