TableA
StatutoryRequirementsforBusinessTax
BusinessTaxCompliance	BusinessTaxLiability
Identifyatleasttwostatutoryrequirementsforbusinesstaxcompliance.	Identifyatleasttwostatutoryrequirementsforbusinesstaxliabilities.
1. Keeping all the financial and Tax records	1.Annual Turnover less than $10 million for them the tax rate has been reduced to 27.5%. While the flat income tax rates for the companies in Australia is 30%. As annual turnover of the company is less than 10 million. So, it will pay reduced tax @ 27.5%.
2.Informing ASIC about principle place of business	2.As an employer in Australia they need to collect Pay As You Go installment amounts from the payments they make to their employees, workers or other contractors and to those businesses for which there is no Australian Business Number Issued to them.

Profit&LossStatements
IdentifytheNetProfit/LossfromtheProfit&LossStatementforboththefinancialyearsandassesstheirkeyreasons(drivers).
NetProfit/Loss($)	Reason
1. PreviousFinancialYear	o The firm made $1,335,600 in sales last year. The firm produced a net profit of $683,000. As a result, the company had a net profit of $668,411. Increase the net earnings of consultants. o During that year, the margin is 49 percent. o Company Income was generated through a variety of areas. o Included in the consultancy fee were earnings from workshops, books, and executive searches. o Service. The consultancy fee was the most profitable activity for the organization. o Generated 85 percent of total income, Workshops contributed 3 percent of total revenue, and o Executive search accounted for 9% of total revenue. Rent has been the most expensive expenditure. o As well as rates, salaries, and wages o During that year, the business fared well overall. o The primary reason for the profit was strong revenue streams and the established market and repute for the consulting services offered by grow consultants, which assisted them in generating enough revenue and the expenses incurred were nicely controlled by the organization, resulting in a net profit of 49 percent.
2. YearBeforePreviousFinancialYear	o In the previous financial year as well business performed well.
CashFlowStatements
IdentifythemonthlyandquarterlyNetCashFlowtrendsforthe currentfinancialyearfromtheCashFlowStatementsandforecast.
MonthlyNetCashFlow($)
Month1 58,183	Month2 32,316	Month3 40,796	Month4 96,412	Month5 83,154	Month6 101,928	Month7 39,316	Month8 57,293	Month9 77,274	Month10 56,005	Month11 40,306	Month12 114,912
QuarterlyNetCashFlow($)
Quarter1 131,295	Quarter2 281,494	Quarter3 173,833	Quarter4 211,223

DevelopaProfit&LossbudgetandaCashFlowbudgetusingthedataprovided above,incompliancewithstatutoryandorganisationalrequirements.

Thisincludes:

• Profit&LossStatementoftheworkplace/organisationfortheprevioustwofinancialyears.
• Cash Flow Statement of the workplace/organisation for the previous twofinancialyears.
• CashFlowForecastforthecurrentfinancialyear.
• The workplace/organisation's business plan for the current financial year,with relevant initiatives and month-wise revenue and spending planned forthecurrentfinancialyear.