Process the accounting data to comply with tax and

 
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

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

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