Certificate IV in Bookkeeping Assignment

Running head: CERTIFICATES IV IN BOOKKEEPING
Certificates IV in Bookkeeping
Name of the Student:
Name of the University:
Author’s Note:

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CERTIFICATES IV IN BOOKKEEPING
FNSINC401A
Activity TASK 1
(a) The main eight sectors in the Financial Service Industry with which the bookkeeping
activities can be related closely are:
 Accounting
 Insurance
 Banking
 Superannuation
 Financial Planning
 Credit lending services
 Finance and mortgage broking
 Financial markets
(b) An instance that bookkeeping sector can be related and interacted in the other sectors in
the Financial Services Industry as bookkeeping associates with the process of accounting
and recording of the financial transactions that are taking place within an organization.
This explains that there are various transactions that are taking place. Every sector has to
undertake financial transactions and therefore maintenance of the financial transactions
are crucial in order to understand and discover the profit or losses incurred by the firm.
Activity 2
(a) One service provider that falls into each of the following categories have been given
below:
ADI: Suncorp

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CERTIFICATES IV IN BOOKKEEPING
RFC: ANZ Bank
MF: AMP
Activity 3
(a) An external force that had an impact on the Australian Bookkeeping industry in the last
decade has been:
 Interest Rates: The rise in the interest rates in the last one and half year has resulted in the
loan servicing costs of companies to increase. The extent of increased interest rates
dismays further borrowing by individuals and organizations, and may lead to a fall in the
economic growth.
(b) An external force that had an impact on the Australian Bookkeeping industry in the
current time period has been:
 Political Climate: A steady political climate has contributed to the economic development
and the growth is likely to lead to increased turnover in the financial services industry.
(c) A key financial service provider that has gone through key changes in their products and
services due to transforming external forces has been the banking industry. The changes
include:
 Changes in the operational plan of the banks
 Transformations in the interest rates for loans
 Increasing the customer base
Activity 4
(a) The three minimum methodologies that can be applicable for Virtual OfficeLink
Workplace are prescribed laws, by-laws and regulations.

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CERTIFICATES IV IN BOOKKEEPING
Activity 5
(a) The application fees for a tax agent is $500 if one is carrying on a business as a tax agent
and $250 if they are not carrying on a business as a tax agent. The application fee for
BAS agent is $100 if the agent is carrying on a business and $50 if they are not
undertaking a business. The registration period is within 30 days.
(b) The legislation says that prior to a licence is issued the council must make sure that the
person associated in the management of the property is competent sufficiently, is a fit and
proper person and that management framework and funding are sufficient.
(c) A code of professional conduct is essentially constituent to any profession to sustain
standards for the individuals and entities within that profession to follow. It brings forth
responsibility, accountability and trust to the entities that the profession serves.
(d) The qualifications of a BAS agent are primary qualification, GST/BAS course and
relevant experience. The person has to have a Certificate IV financial services in
accounting or bookkeeping from a training firm that has been registered. The person has
to have a 1400 hours experience in the past four years. On the other hand, the tax agent
has to have primary qualification, board approved courses and relevant experience. The
person has to have a board approved Australian Taxation Law and approved commercial
law and has to have 12 months of experience in the past 5 years.
(e) The penalties, sanctions and the termination booklet is found in the publications and
legislation section where all the relevant information has been listed there.
Activity 6
(a)