Finance legislation Privacy laws Privacy law refers to the laws that deal with

Finance legislation privacy laws privacy law refers

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Finance legislationPrivacy lawsPrivacy lawrefers to the laws that deal with regulating, storing, and using ofpersonally identifiable informationof individuals, which can be collected bygovernments, public or private organizations, or by other individuals.Privacy laws are considered in the context of an individual's privacyrights or withinreasonable expectation of privacy.Occupational health and safetyOccupational safety and health (OSH), also commonly referred to asoccupational health and safety (OHS), occupational health or workplace healthand safety (WHS), is a multidisciplinary field concerned with the safety, health,and welfareof people at work. These terms also refer to the goals of this field soBSBFIA401 Prepare financial reports Assessment Guide v1.0Copyright © Mentor Education Pty Ltd RTO 21683 16
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their use in the sense of this article was originally an abbreviation of occupationalsafety and health program/department etc.The goals of occupational safety and health programs include fostering a safeand healthy work environment.OSH may also protect co-workers, familymembers, employers, customers, and many others who might be affected by theworkplace environment. In the United States, the term occupational health andsafety is referred to as occupational health and occupational and non-occupational safety and includes safety for activities outside of work.In common-law jurisdictions, employers have a common law duty to takereasonable care of the safety of their employees.Statute law may in additionimpose other general duties, introduce specific duties, and create governmentbodies with powers to regulate workplace safety issues: details of this vary fromjurisdiction to jurisdiction.4.Describe organisational accounting systemsOrganisational accounting systemsOrganized set of manual and computerized accounting methods, procedures,and controls established to gather, record, classify, analyze, summarize,interpret, and present accurate and timely financial data for managementdecisions.5.Outline relevant organisational policies, procedures and accounting standards.Organisational policies, procedures and accounting requirementshelpemployees evaluate accounting transactions in a similar manner. In largercompanies, many accountants may be examining financial activity and,due to the judgment required in accounting decisions, these accountantsmay determine different accounting treatments for the same transaction.Organisational policies, procedures and accounting requirements acts as aroadmap for the application of generally accepted accounting principlesand removes variance in employee judgment. For complex accountingissues, such as revenue recognition or classification of securities,accounting policies provide a way for employees to arrive at the correctBSBFIA401 Prepare financial reports Assessment Guide v1.0Copyright © Mentor Education Pty Ltd RTO 21683 17
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accounting treatment, even if they do not have specialized knowledge inthe complex area. Accounting supervisors should be careful. While
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