FNSACC511: Provide Financial & Business Performance Information - Accounting and Finance Assignment Help

Assignment Task:

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.

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