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1. Explain legislation and conventions relevant to financial management in an organization, including a. Australian legislation and conventions b. international legislation and conventions c. State/territory legislation and conventions.2. Outline the requirements of the Australian Tax Office (ATO), including a. Goods and services tax (GST) b. Company tax c. Pay as you go (PAYG) tax.3. What legislation applies to fraud and the misappropriation of funds?4. Explain the need for financial due diligence and outline what actions may be included in a financial due diligence review.5. Explain how you use P&L statements, cash flow and ageing summaries to manage issues that will affect the organisation's ability to meet objectives.6. Explain how forecast analyses and analyses related to budget preparation will enable you to contribute to financial bids and estimates.7. What can the organisation do to maintain an audit trail to ensure accurate tracking and to identify discrepancies between agreed and actual allocations?8. List considerations when reviewing existing software and its suitability for financial management.9. Why is it important to circulate budgets and ensure managers and supervisors are clear about budgets, reporting requirements and financial delegations?10. Briefly explain how using previous financial data can help determine allocations for resources.11. Give an example of a budget and/or budgeted statement that must be prepared in accordance with statutory requirements.
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