FNS40217 Certificate IV in Accounting and Bookkeeping

Running head: BOOK KEEPING IN ACCOUNTING
Book Keeping in Accounting
Name of the Student:
Name of the University:
Authors Note:

BOOK KEEPING IN ACCOUNTING1
Contents
Task 1:.............................................................................................................................................2
Part a:...........................................................................................................................................2
Part b:...........................................................................................................................................2
Par c:............................................................................................................................................4
Part d:...........................................................................................................................................4
Part e:...........................................................................................................................................5
Part f:...........................................................................................................................................6
Answer 2:.........................................................................................................................................6
Part b:...........................................................................................................................................7
Part c:...........................................................................................................................................8
Answer 3:.........................................................................................................................................9
Part a:...........................................................................................................................................9
Part b:...........................................................................................................................................9
Part c:.........................................................................................................................................10
Answer 4:.......................................................................................................................................11
Part a:.........................................................................................................................................11
Part b:.........................................................................................................................................11
Part c:.........................................................................................................................................11
Part d:.........................................................................................................................................11

BOOK KEEPING IN ACCOUNTING2
Part e:.........................................................................................................................................12
Answer 5:.......................................................................................................................................12
Part a:.........................................................................................................................................12
Part b:.........................................................................................................................................13
Part c:.........................................................................................................................................13
Part d:.........................................................................................................................................13
References:....................................................................................................................................15

BOOK KEEPING IN ACCOUNTING3
Task 1:
Part a:
Keeping an effective communication with the clients is important to not only maintain a good
relationship with the clients but also to understand the different requirements of the clients and
accordingly provide services to clients to fulfill those requirements.
Part b:
Business needs Accountant
(Registered with
TPB and ASIC)
Bookkeeper
(Registered with
TPB)
Tax Agent
(Registered with
TPB and ASIC)
Petty cash and bank
reconciliation
To maintain
proper accounting
records for petty
cash expenses.
Preparation of
periodical bank
reconciliation
statement.
Maintain books of
accounts.
X
Prepare depreciation
schedule
Record
depreciation
entries correctly.
Correctly calculate
depreciation in the
books of accounts.
To check whether
depreciation is
accordance with tax
laws for tax
purposes.
Accounts receivable
and payable functions
Preparation of
accounts payable
and accounts
receivable.
Maintain accounts
payable and
receivable books
correctly.
X
Prepare and lodge tax
returns and ASIC
Prepare and lodge
return
X Check the returns
Payroll functions Prepare and
maintain payroll
schedules
Properly include
payroll in books of
accounts
X
Prepare and lodge
activity statements
Prepare and lodge
such statement
X X
Prepare accounts to
trial balance
Trial balance
preparation
X X
Prepare and analyse Preparation of X X