FNSACC501 – Provide financial and business performance infor, Accounting Basics

FNSACC501 – Provide financial and business performance infor, Accounting Basics

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Part 1:
Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation process to achieve the following:
• List all the financial objectives of the client, including but not limited to:
- Tax liability reduction goals
- Wealth accumulation
- Asset development
• Identify relevant legal and financial requirements that will need to be considered in order to achieve the client’s specific objectives
• Detail other processes the client will need to undertake in order to achieve their financial goals, such as:
- Personal investment strategies
- Business registration
- Insurance needs
- Tax issues / requirements
• Detail strategies to put in place to ensure the above requirements are met

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