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What is the process for keeping financial data

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Reference no: EM132895098

Question - Access your organisation's plan, Carefully review the strategic plan.

1. Review your organisation's (or one you know well) financial management system. Is it manual or automated?

2. What sort of financial record-keeping system does it have?

3. Does it contain all the elements listed for a basic record-keeping system? Explain how it differs,

4. How does your organisation capture, how does your organisation capture, manipulate and summarise its transaction data? (Flowchart the process),

5. In your opinion, does it follow the accounting guidelines developed for Australian Organisations?

6. Find your organisation's policy on financial records management and document retention and attach it to this activity.

7. What is the process for keeping financial data i.e. how is it stored and for how long? Who can access these records?

8. What happens to records/documents when they are no longer required (according to the organisation's policy guidelines)?

Reference no: EM132895098

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