Process the accounting data to comply with tax and

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  • MandyHazel2018
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Process the accounting data to comply with tax and GST reporting requirements For the required reporting period, calculate and reconcile total salaries, wages and other payments to enter onto the BAS. Provide the calculations. Verify or calculate PAYGI amount, or calculate for other payments, where applicable. Provide the verification/calculations. Prepare and reconcile the activity statement reports, identifying and correcting statement errors, and amending bookkeeping entries as required Review any extraordinary transactions in the accounting system, including transactions involving capital acquisitions and imports. Document the review of these extraordinary transactions. Where necessary according to legislative guidelines, make adjustments for previous quarters, months or year-end. Record these adjustments, including the reasoning. Complete the BAS and IAS return according to current statutory, legislative, regulatory and organisational schedule Reconcile the figures completed on the BAS and IAS form with the journal entries, financial statements, GST and other control accounts. Document this reconciliation. Check the activity statement, and present it to the authorising person, required by statutory, legislative and regulatory requirements, for verification, approval and sign-off. Provide evidence of the sign-off received. Feedback to Student: FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0 32
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Result Satisfactory Not Yet Satisfactory Assessor Signature: Date: FNSTPB401 Complete business activity and instalment activity statements Assessment Guide Copyright © Mentor Education Pty Ltd RTO 21683 V1.0 33
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Third-Party Activity Report – Entity 3 Unit Code and Name: FNSTPB401 Complete business activity and instalment activity statements For this assessment, the student must complete the practical activity. The practical activity is a stand-alone activity that will allow the student to display the required knowledge and skills that are essential when deciding overall competency. Student name: Assessor name: Did the Student provide evidence of their ability to complete the following to prepare for the task: Has the student satisfactorily completed the practical activity? Yes No Identify and access information, using networks as necessary and seeking expert advice to clarify as necessary, to research and critically evaluate and document the following to be applied throughout the preparation of BAS and IAS: The changes to current or new legislative or professional conduct requirements, so that these changes can be applied throughout. Australian taxation law, Australian Taxation Office (ATO) rulings, Tax Practitioner Board (TPB) requirements, and lodgement schedules Accounting principles and practices Organisational policies and procedures for BAS Did the Student provide evidence of their ability to: Prepare both business activity statements (BAS) and instalment
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