FNSACC406

Some data entry steps may occur at any time during the accounting cycle, other transactions occur only during financial statement production. Each step consists of set of rules used to ensure the accuracy and conformity of financial statements to avoid illegal actions using inaccurate figures. Each type of report has a level of significance and use as each document provides differing information involving things such revenues, cash flows, and other transactions made within an

In addition, GST is capable of providing definitions that can be put into quantitative analysis. Therefore, scientific research can be measured using numbers and variables in terms of various issues (Von Bertalanffy, 1969). In this regard, GST will be incorporated as the theoretical framework for the present study.

Assignment - AFF2491 Company Reporting Semester 1 2013 This assessment task is designed to test a student’s achievement of objectives 1, 2, 3 and 4 (refer to AFF2491 Unit Guide). It is an individual assessment task. This assignment must be handed in for successful completion of this unit. It will contribute 15% towards the final mark in this unit. The assignment consists of: Part B (7 Marks) Accounting for income tax Part C (8 Marks) Consolidation This assignment is due on Friday 10 May 2013 by 5:00pm (Week 9). Students are required to submit a hard copy in the assignment box located at Level 3, Building H, Caulfield Campus.

Ensure sufficient stock of all items is kept in good order to meet foreseeable demands as per production plan.

Which of the following is NOT likely to be allowed as a current deduction for a landscaping and nursery business?

| Participate in class discussion. . Respond with two posts in one day, to classmates DQ post, on 4 of 7 days minimum.

An effective system of internal control must be built on the basis of the analysis of enterprise-wide risks. Therefore, to create value for its customers and other stakeholders, an organization must have in place the ability to systematically assess and analyze all material risks that affect the entity’s planned objectives. (Integrated Framework, Volume II Guidance, June 2008). Internal control of the accounting process is designed to detect unintentional data errors rather than intentional errors. Garbage in, garbage out! Even good accounting systems can not catch

3) Deductions that are deductible for regular tax and AMT purposes but have different limitations for each system are

This are done through the design of appropriate strategies and programs to ease stakeholders’ compliance burden and bring about an efficient and improved tax delivery services to customers. TOG’s key functions include the assessment of persons, including companies and enterprises, liable to tax, as well as the assessments, collection, accounting and enforcing payment of taxes. These functions are carried out through the departments and functional units of the Group. The Compliance and Enforcement Group provides the FIRS with the platforms necessary to enhance voluntary compliance within the tax system. Its ultimate goal is to ensure that tax revenue collection is enhanced through the mobilization of the appropriate policy and legal frameworks. In order to achieve cohesion in the implementation of organizational goals, the various Groups and Departments involved in compliance and enforcement activities strive to build synergy in the performance of their duties. In appropriate cases, the Tax Operations Group refers cases of default of payment of tax to the Compliance and Enforcement Group to be handled by the Legal and Prosecution Department. The relevant organs of the service have carried out important activities towards enforcing taxpayer

As the business environment grows and companies find new ways to expand into their respective - or even new – markets, it is important that reporting standards stay up to date with changes and continue to assist companies in providing their users with useful accounting information. Information is labelled as being useful when it meets the

Double entry accounting is based on the fact that every financial transaction has equal and opposite effects in at least two different accounts. In the double entry system, transactions are recorded in terms of debits and credits. Since a debit in one account will be offset by a credit in another account, the sum of all debits must therefore be exactly equal to the sum of all credits. The double-entry system of bookkeeping or accounting makes it easier to accurately prepare financial statements directly from the books of account and detect errors.

Instructions 1. Order: Questions must be submitted in order. Any homework assignment with questions or parts of questions that are submitted out of order will receive no credit. The term order refers to the question numbers on the assignment. For example, if there are 5 questions, then the submitted solutions must be numbered from 1 to 5 in numerical order and each question must be answered completely under the appropriate number. Questions with subparts must also be answered in order.

They also would have to disclose the line items in the financial statement in which the UTBs benefits are presented and the related amounts of the benefits. Public business entities would also be required to disclose the amount of, and explanation for, a valuation allowance recognized or released during the reporting period.

GASB Statement No. 34, Basic Financial Statements— and Management’s Discussion and Analysis—for State and Local Governments, was issued June 1999. The goal of GASB was “to make annual reports more comprehensive and easier to understand and use” (Governmental Accounting Standards Board, 1999). The four hundred and three page document has seven main sections that detail external reporting requirements. These seven requirements are “reporting

This week’s homework is divided into two parts. First, please answer the 2 questions below. Second, you will develop a trading strategy based on a concept known as “triangular arbitrage.” Below you will find links to four brief videos explaining the concept & how to test for its existence.