Accounting Answers

What needs to be covered when researching information for the cash flow budget?

You present the financials at the annual general meeting. Separately list three groups of stakeholders you expect to be at this event. How should each group be treated/ what would you expect from them?

What are the eight member standards for successful budget negotiating procedures?

How are expenditure milestones set up

Using the provided table calculate the tax liability for an individual whose taxable income in the 2014-15 financial year was $58,000.

What are three advantages of using payroll services provided by a BAS agent?

Calculate the Cost of Goods Sold from the following data.

Details Amount ($)
Cartage outwards 8500
Insurance 10900
Customs duty 5400
Purchases 58300
Stock (opening) 3950
Cartage inwards 6200
Stock (closing) 5700
Purchases returns 1000
Sales commissions 5300

State weather the following statements are True or False.

1. For a trading firm, revenue is recognised when the goods are delivered.
2. In the income statement, insurance would be classified as a financial expense.
3. Allowance for doubtful debts is a negative liability.
4. Accrued expenses are liabilities yet to be paid.
5. The physical stocktake valuation at the end of the accounting period is deducted from 'Cost of goods available for sale'.

30. Will you recommend a company to buy this machine if the following information is given to you? Cost $60000, life is 9 years, scrap value after ten years is 9500, and Annual Deprecation is 10% straight line method.

5. Provide at least 5 examples of features that would need to be compared and measured against user requirements to enable the identification of alternative systems and solutions