Question 1: What are requirement of the Australian Tax Office when establishing a new business? Explain in 50-10 0 W ords.

Question 2.Answer the following:

1. What Is Financial Statement Fraud? Writ answer in 30-5 0 wo rds.
2. How can reconciliation of bank accounts and management reviewof periodic account reconciliations (bank reconciliations, petty cash, etc.) and bank statements manage misappropriation of funds? Write answer in 50-10 0 w rds.

Question 3: Why is it required to use previous financial data to determine allocations for resources for next budget? Explain in 50-10 0 wor ds.

Question 4: How can planning help the business become viable and profitable? Write answer in 50-10 0 wor ds.

Question 5: List any ten (10) basic steps to follow when preparing a budget.

Question 6: List five (5) circulation methods that are used to circulate budgets to managers and supervisors of the organisations

Question 7: Assume that you are working as an Accountant for an organisation. The organisation wants to conduct financial statement audit as part of closing the financial books and before filing income statement during closing. Explain in 350-40 0 wo rds, the four (4) steps that you will take to conduct the audit.

Question 8: List five (5) basic types of financial statement fraud that you can find when reviewing financial statements.

Question 9: Explain in 150-200 wor ds, the "Budget Revision Process".

Question 10: Considering yourself as an Accountant, answer the following questions:

• What is due diligence? Write answer in single sentence.
• When should you perform due diligence? Write answer in 30-5 0 w ords.
• What should you review? Write r answer in 30-50 wo rds.