This portfolio presents a student's work for the Business Accounting 3 course, focusing on the BSBFIA402 unit of competency, which involves reporting on financial activity. The activities cover various aspects of financial accounting, including creating and using a chart of accounts, identifying and coding accounts, understanding asset and liability valuations, analyzing financial statements, preparing operating budgets, identifying discrepancies in budgets, conducting trend analysis, calculating averages and variances in expenditures, determining unit costs, and understanding record-keeping requirements for income tax, GST, PAYG withholding, and fuel tax credits. The portfolio also includes examples of tax invoices and company tax rates, culminating in the preparation of a balance sheet from incomplete records. This comprehensive collection demonstrates a practical application of financial accounting principles and reporting techniques.
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