Please read above and answer for these 5 questions in sort answer. No Hand written plz.

Skills and knowledge Activity Objective To provide you with an opportunity to demonstrate your knowledge of the foundation skills, knowledge evidence and performance evidence. Activity Attach your completed work to your workbook. The answers to the following questions will enable you to demonstrate your knowledge of: Plan for financial management Read and review profit and loss statements, cash flows and aging summaries Prepare, implement and revise a budget which aligns with the business plan, is based on research and analysis of previous financial data and cash flow trends, and meets all compliance requirements Contribute to financial bids and estimates Establish a budget and allocate funds in accordance with statutory and organisational requirements Communicate with other people Analyse the effectiveness of existing financial management approaches, including reviewing financial management software, managing risks of misappropriation of funds, ensuring systems are in place to record all transactions, maintaining an audit trail and complying with due diligence Reading skills Writing skills Oral communication skills Numeracy skills Navigate the world of work > Interact with others Get the work done > Identify the requirements for financial probity Describe the principles of accounting and financial systems > Explain Australian, international and local legislation and con ntions that are relevant to financial management in the organisation Outline the requirements of the Australian Tax Office, including Goods and Services Tax, Company Tax and Pay As You Go. Answer each question in as much detail as possible, considering your organisational requirements for each one. 3. Give examples of your business' or industry's critical dates and describe how they can be used to increase profit. Answer:- 5. Why do you need to be aware of your tax liabilities? 6. What are some of the questions you should ask yourself to ensure that your financial management software is suitable for your business? 7. Why do you need to consider previous financial data when managing resource allocation? 8. Why do you need to estimate the costs of potential new