Highlights
Question
Provide answers to questions below in 1-2 paragraphs.
a) Discuss the difference between financial forecasts and projections.
b) What method can you use to review your plans?
c) Assumptions in business plans and exception reports need to be reviewed to ensure what?
d) Analysis of financial performance reveals trends over time in what areas?
e) What 4 steps will assist you to write clear and unambiguous instructions?
f) What are the three main types of businesses?
g) What are 6 types of financial models?
h) If there are many concepts and principles that apply to accounting that assist with
ensuring data collected and processed is reliable, valid, complete and comprehensive. What are they?
i) Define the following four terms: comprehensive, valid, completeness and reliability.
j) What are the accounting cycle steps?
k) Discuss the three main types of accounting.
l) Failing to gain appropriate approval can result in what?
Task 2: Case Study and Practical Assessment Student Instructions
1. Type all the answers in a word document if required.
2. You can conduct internet research to answer these questions.
3. Provide explanation of 2-3 lines when answering ‘Describe’ questions.
4. Provide detailed workings for calculations questions.
5. Provide answers in table format wherever possible.
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