Accounting principles

1. Explain the basic principle of double entry bookkeeping.
2. Describe the principle of cash accounting and one advantage and one disadvantage of this method of accounting.
3. Describe the principle of accrual accounting and one advantage and one disadvantage of cash accounting.
4. Explain the two accounting principles on which the calculation and reporting of deprecation is based.
5. Identify and explain three key features of A New Tax System (GST) Act 1999.
6. Identify and then explain the four main taxation and superannuation obligations for a business. Briefly discuss each obligation.
7. According to GST legislation, list four items that do not attract GST.
8. Explain the process by which a business reports GST to the Australian tax office.
9. What is the penalty rate to be applied if a supplier does not provide an ABN?
10. A non-profit organisation needs to register for GST after it has a turnover of more than how much?
11. List the key information that must be included on a tax invoice for sales of $1,000 or more.
12. Identify and explain three types of financial statements and their purpose.
13. Describe the type of entity that is required to have financial reports audited.
14. Explain the purpose of a financial audit and auditor’s report.
15. Describe why companies may choose to develop budgets.
16. Explain the main steps in the budgeting process.
17. Explain the use of electronic spreadsheets in developing budgets and give two of their key features.
18. Explain three key principles relating to the management of a chart of accounts.
19. Explain the purpose of a profit and loss statement and give two of its key features.

Don't use plagiarized sources. Get Your Custom Essay on
Accounting principles
Just from $13/Page
Order Essay
Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.