Question 1

Describe four accounting principles emphasising their importance and relevance to financial management.

Question 2

Explain the impact legislation relating to taxation and record keeping has on financial management practices within organisations.

Question 3

Explain three of the key obligations of organisations required to collect Goods and Services Tax on behalf of the Australian Taxation Office.

Question 4

List and describe six different financial documents that would be useful to retain as records from both a legislative and good financial management perspective.

Question 5

List three examples of records that must be kept to meet the requirements outlined by the Australian Tax Office.