1. Identify two basic accounting principles and briefly explain how each is applied in the workplace.
2. Identify the two types of ageing accounts found in ageing summaries and briefly explain how each is used using your own words
3. Identify the three types of cash flow activities and briefly explain each using your own words.
4. Identify two types of petty cash books and briefly explain how petty cash is recorded on each using your own words.
5. Identify three categories of financial information that is reported in Profit & Loss Statements. Briefly define each using your own words.
6. List two legislations under the Australian Taxation Office (ATO) relevant to business taxation, except GST. Briefly explain the purpose of each legislation using your own words.
7. Identify two key requirements for financial record-keeping and briefly explain each using your own words.
8. Identify at least three principles for managing work teams and briefly explain how each promotes effective team management.
9. Identify one principle involved in managing each of the financial requirements listed below. Briefly describe each principle using your own words.
10. Identify the two areas that you need to evaluate when reviewing budget plans. Briefly explain why each needs to be reviewed.
11. Identify at least two techniques for evaluating budget plans and briefly explain how each is applied.
12. Identify the three key financial statements that you must review when conducting an annual evaluation of your financial plans. Briefly explain why each financial statement needs to be evaluated.
13. Identify at least two techniques for effective evaluation of financial plans. Briefly explain how each technique can be applied using your own words.