(AUSTRALIA) Gail is a director in a regional bank. As part of her director’s duties, she has to review financial statements and other reports from the Chief Financial Officer prior to the bank’s board meetings. Gail has a degree in economics and has worked in banking for many years, however, since becoming a director she believes accounting knowledge would assist her carry out her duties. 

Gail incurred various costs in undertaking a Bachelor of Commerce in professional accountancy with the University of Southern Queensland. During the year ending 30 June 2021.

Gail incurred the following costs related to the course: 

 HELP fees $2,600 

 Stationery $180 

 Textbooks $220 

 Expenses of travelling between her job and USQ where the course was being held $120.

Required: 

Discuss whether any amounts of expenditure incurred.

Answer rating: 100% (QA)

HELP fees 2600 Stationery 180 Textbooks 220 Expenses of traveling between her job and USQ where the ... View the full answer