FNSACC408 - Work Effectively In The Accounting And Book keeping Industry - Management Assignment Help

Assignment Task

Task 1
Part a) Provide two reasons as to why establishing and maintaining effective communicative relationships with your clients is important.                          
[Type your answer here – use as much space as you need]

Part b) Determine roles and responsibilities of the following members of the accounting and tax profession according to business needs: 
Part c) The following list of activities fall outside an accountant’s and bookkeeper’s role. 
Refer your client to networks of individuals for advice and services on carrying out the below:                                          
i) Verifying the accuracy of financial reports
ii) Advice on investments, superannuation, insurance and mortgages
iii) Advice on system requirements and set up costs associated with the purchase and installation of accounting software
iv) Savings and loan functions

Part d)Using the additional information provided with this assessment, document the outcomes of the meeting in the form of a ‘Letter of Engagement’.
The letter shouldinclude the details of any decisions made and actions required as a result of the meeting.

In this letter you may consider to include the following:                
• Scope of work to be done - Details of the services to be provided
• Period of time
• Information required to provide service
• Fees and payments
• Privacy
• Disputes
• Termination
• Client acknowledgment and confirmation
Part e)You have decided to develop a questionnaire to seek feedback from your clients to enable you to identify areas where your service might be improved or tailored toward your client’s needs.               
Develop at least 3 questions to include in your questionnaire that will enable you to get feedback on the data you recently prepared and supplied for end of year financial reporting. Present your answer in a format that will encourage your client to respond.

Part f) List the ethical principles under each of the five categories that TASA Act 2009 requires registered tax agents, BAS agents and tax (financial) advisers to adhere to.

Task 2
Part a) Using the internet, search and obtain access to publications designed to assist you in carrying out work for your client.
Part b) Access an integrated financial software system (such as MYOB or Xero) and produce a Balance Sheet as at 30 June 2018 usingits sample or demo data.
• Export it to PDF and submit with your assessment OR
• Take a screen capture of the Balance Sheet, paste it into the space provided in your answer template OR
• Copy and paste the Balance Sheet into the space provided in your answer template.
• Note if the software cannot produce the report at 30 June 2018, you may run the report at the current date.                                                
Part c)Complete the following table, showing research resources for legislative, statutory, regulatory and industry requirements for carrying out accounting and bookkeeping activities.

Part c)Complete the following table, showing research resources for legislative, statutory, regulatory and industry requirements for carrying out accounting and bookkeeping activities.

Task 3
Part a) Complete the sentence simply by listing four examples. 
Systems can include:    
Part b) You are required to develop a petty cash system to ensure daily activities are carried out according to legislative requirements. 
i) Develop the policy                             
ii) Develop a guideline for work procedures for:                
• Carrying out a petty cash claim (for employees) and 
• Advancing and accepting a petty cash claim (for the petty cash officer). 
The documents must be appropriately formatted and presented.    
Note: Providing any supporting forms is optional on this occasion.

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