You must be able to describe (in Australian accounting context/environment), to a manager or to a client, the ATO requirements and relevant accounting terminology that applies to the preparation and submission of BAS and IAS.

Some of the terminology includes the listed items.

Briefly explain what each of the following is:

RCTI

FBT

WET

GST

BAS

IAS

TASA

withholding tax

GST inclusive

ABN

the businesss document ID

ATO

TPB

entity

reconcile

salaries and wages

Code of Professional Conduct