Registered office: the registered office must be in Australia and cannot be a Post Office address.Minute Book and Statutory Registers: The minute book(s) and statutory registers must be kept in Australia. The statutory registers to be kept by all Australian companies include Register of Members (Shareholders), Register of Option holders, Register of Charges and Register of Debenture Holders.Financial reporting: Public Companies must prepare and lodge (file) with the Australian Securities and Investments Commission (ASIC) an audited financial report within four months of the end of each financial year (three months for a listed public company), except in certain circumstances whee relief from this is granted under certain ASIC Class Orders. Large proprietary companies have to prepare and lodge an audited financial report within four months of the end of each financial year, except in certain circumstances where relief from this requirement is granted under certain ASIC Class Orders.Shareholder details: Proprietary companies are required to notify ASIC of anychanges to its register of members. Thus shareholder details are on the public record for proprietary companies. Public companies are not required tonotify changes of shareholders (members) to ASIC and so there are no shareholder records for public companies available at ASIC.Constitutions: Public companies are required to lodge their constitution or any changes to their constitutions with ASIC.
Corporation Act 2001 compliance requirements:Superannuation is 9.5% of wages and salaries of each quarterPayroll tax is 4.75% of wages and salaries for each quarterWorkers compensation is 2% of wages and salaries for each quarterCompany tax is 30% of net profit before tax for each quarter3.Review commercially available financial management software to select the most suitable software for Houzit Pty Ltd. Ensure you diagnose software options by comparing two commercially available software titles against the capabilities of the existing technology for the organisation and against the prioritised requirements and outline thereasons that lead you to this recommendation.MYOBis business management solutions help you be more productive, which gives more time to build your venture or to enjoy life outside work.The Netsuiteand the WorkdayFinancial management software’s are the best solution for companies and organizations to manage their financial and accounting requirements. Both software adapt and accommodate all legislative and statutory requirements without any customization or upgrade. Ensure proper security and support compliance efforts with audit trail.4.Explain how you can apply the following principles of accounting in developing the budgets required for this task:a.matching principle is one of the basic underlying guidelines in accounting.
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- Spring '20