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Describe the principles and techniques involved in managing

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Reference no: EM132640797

Jane is a senior employee in financial department of an organisation. She is required to provide a briefing of basic financial concepts and principles to some team members with little financial background to help them understand the management of budgets and financial plans. The briefing needs to cover the following information.

Topic 1

Describe the principles and techniques involved in managing:

- budgeting

- cashflow

- electronic spreadsheets

- GST

- Ledgers and financial statements

- Profit and loss statements

- Ageing summaries/report in accounts receivables

Topic 2

Accounting concepts and principles in:

- The difference between income, expenses, assets, liabilities and equity

- The concept of a double entry financial system where every credit has a matching debit (You can give an example of a transaction to demonstrate this)

- Petty cash

- Accrual accounting

- Changing asset values through depreciation

Topic 3

Explain the relevant legislation and current requirements of Australian Taxation Office regarding:

- CompanyTax return

- GST collection, payment and reconciliation

- Audit and record-keeping requirements for financial records

Reference no: EM132640797

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