Project Answers.docx - Project Answers Objective To provide...

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Project Answers Objective: To provide you with an opportunity to demonstrate the required performance elements for this unit. A signed observation by either an approved third party or the assessor will need to be included in this activity as proof of completion. This activity will enable you to demonstrate the following performance evidence: Organise and present financial data to highlight relevant features and meet workplace requirements including: o budget variances o budgets and forecasts o cash flow/profit reports o balance sheets o financial year reports o operating statements o expenditure and receipts o profit and loss statements Use conversion and consolidation procedures such as moving averages, standardised variables, trend analysis and unit costs Identify, resolve or refer discrepancies such as: o absence of auditable trail o expenditure report mismatches o incorrect payments and unreconciled cash flows Record income and expenditure to meet statutory requirements Calculate liabilities for tax including completing Business Activity Statements, where applicable Provide financial business recommendations Apply knowledge of relevant legislation and regulations Perform double entry bookkeeping and accrual accounting. Answer the activity in as much detail as possible, considering your organisational requirements. All activity answers will vary depending on the learner and the organisation they work for, but the learner should be able to demonstrate their competency in the unit requirements. The total time for the learner to complete this task should be between 3-5 hours. These hours may be completed over any time frame within the duration of this training program.

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