BSBFIM601 : Manage Finance - Financial Management Assignment

Internal Code : MAS978

Financial Management Assignment

Questions : 1.What is the purpose of conservatism? 2.What are the two key accounting standards that are directly relevant to gathering revenue data for statutory recording and reporting? 3.According to the AASB, what does a set of financial statements comprise? 4.Review the features of off-the- shelf business management and accounting software products. Imagine you are running a retail business, selling products via a bricks and mortar site and online. You need to manage inventory, point-of- sale and payroll, and would like a cloud-based system to work on financial planning and management at your warehouse, retail space and home on a variety of devices. Which product would you purchase? Why? 5.Explore the ATO’s website, visiting the sections for business, non-profit organisations and superannuation. 1. What are the due dates for lodging and paying an organisation’s business activity statement (BAS) online? 6.What are the due dates for an organisation’s lodgement of their income tax return?