1. List three processes that can be used to identify and review profits and losses from a profit and loss statement.
2. Explain the concept of financial probity and its importance to a business.
3. List four examples of what would be considered fraudulent behaviour in regard to company finances i.e. not meeting financial probity requirements.
4. List five functions of accounting software used to manage finances.
5. List three key components of a budget.
6. Explain the four main taxation and superannuation obligations for a business. Briefly discuss each obligation.
7. Identify the Act that details requirements for financial reporting and auditing and, explain the requirements for companies for preparing and lodging financial reports under this Act.
8. Outline the reporting requirements that apply to goods and services tax (GST).
9. Explain PAYG withholding and PAYG instalments.

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1 Processes to identify and review profits and losses from a profit and loss statement a Comparative Analysis Compare current financial results with previous periods to identify trends and analyze cha... View the full answer