Australian Financial Market - Analyze Statement of Cash Flows - Finance Assignment Help

Assignment Task :

Written Questions Assessment Task 1  

1.You have a client who has not reported their car expenses, as they have not kept records of receipts and  decided not to worry about it. You are to write a statement for the client that outlines  (a) What types of expenses are allowable as deductions under ATO legislation  

(b) What receipts should be collected.  

(c) If received a car allowance, how to treat it under tax legislation  

2. If you had a client who claimed an accelerated method of depreciation that resulted in a claim that was  double the allowable amount ($90,000) what would the impact be and how would you explain this to the  client?  

3. Name the mostly used methods to forecast financial and business performance.  

4. Prepare a spreadsheet to present a cash flow forecast summary to a client for the future financial years.  Make sure you include the company details and cash balances.  

5. Research and write a short report on Financial reporting and accounting policy for government  (Commonwealth) entities in Australia,  

6. What are the legislations applicable to Financial and insurance services industry in Australia? Select  Three (3) legislations and describe each briefly.  

7. Selected an ASX listed company and download its latest Annual report. What are the financial statements  included in the selected annual report?  

8. Write two measures of cash flow and budgetary controls?  

9. Who controls the Australian Financial Market? What are the main products of the Australian Financial  Market?  

10. What is a derivative? What are the types of Derivatives included in a company’s financial statements?  How are derivatives recorded in financial statements?  

11. Discuss how a risk management plan can be used to monitor business performance.  

12. Research and Write a short report on importance of maintaining client confidentiality and what are the  client’s rights and responsibilities when providing business performance information to the accountant. 

Project Assessment Task 2  

You are the Assistant Accountant of JKS Accounting Services Pty Ltd and has been assigned with a new  client which is a private company. When completing this task please refer to the information provided by  Little Paws Pty Ltd in the Appendices section (Appendix 1,2 &3). Use Ms Excel or other suitable accounting  package to prepare the financial reports.  

1. Who do you need to consult with to ensure the financial data provided is accurate and complete?  How would you reconcile the financial data to confirm accuracy?  

2. Prepare a Profit and Loss report and Balance Sheet Statement for year ending 30 June 20X9 for  Little Paws Pty Ltd.  

3. Undertake a vertical analysis for the income statements for the years ending 30 June 20X9 and 30  June 20X8  

4. Based on the financial information calculate suitable ratios to determine the financial profitability,  efficiency, and solvency of the business  

5. Analyse Statement of Cash Flows (Appendix 3) for the year ending 30 June 20X9 compared with the  previous financial year.  

6. Using the ratio’s calculated in Question 4, provide Little Paws Pty Ltd a realistic view of the  business’s financial performance and compliance.  

7. The Business is operating as a Company, what are its taxation obligations?  

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