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Accounting and financial information management systems

Assignment Help Accounting Basics
Reference no: EM133267109

Question 1: Write a short note 

  1. financial probity
  2. Tax liability

Question 2: Personnel working in the financial services division of a company need to understand and be able to explain the principles of accounting and financial systems (Accounting and Financial Information Systems-AIS and FIS). What are accounting and financial information management systems and how do they assist business operations? 

Question 3: List at least 10 forms of legislation and conventions (Australian, international and/or local) that could apply to financial management. 

Question 4: Explain  the requirements for each of the following:

  1. Goods and Services Tax
  2. Company Tax
  3. PAYG

Question 5: Why do you need a good financial record keeping system? (Approximately 50 Words)

Question 6: To ensure that you are in a good position to negotiate your budget submission what should you do? 

Question 7: Give a detailed description of the below types of expenditure and income 

  1. Gross profit
  2. Net profit
  3. Stock turnover

Reference no: EM133267109

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