Comprehensive Report: BSBCNV504 Preparing Legal Documents

This report, prepared for the BSBCNV504 unit, delves into various aspects of legal document preparation and business operations. It covers effective client communication techniques, identification of source documents, and the role of regulatory bodies like ASIC and ACCC. The report examines invoicing compliance methods, record-keeping procedures, and client notification strategies. It also analyzes procedures for checking information accuracy, authority to proceed, and adherence to regulatory requirements. Furthermore, it explores topics such as statutory timelines, internal control systems, the code of practice, and updates on Australian Financial Services. The report also addresses compliance resolution, industry changes, CPD requirements, and specific legal scenarios like cheque endorsements and disclosure statements. Additionally, it examines dispute resolution policies, property acquisition, and the differences between New Zealand and Australian law. Finally, it discusses topics like the Transfer of Land Act, transmission and survivorship applications, and the implication of software packages for compliance.

BSBCNV504 Prepare
legal documents

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
1 Techniques to have and effective communication to client in context with advising and
recommending them...............................................................................................................1
2 Identifying the source documents for running the business................................................1
3 Determining as if any other regulatory body related with the business..............................2
4 Identifying the method of invoicing compliance followed in organisation........................3
5 Evaluating the method of filing and archiving get completed in the firm as well as analysing
the compliance requirements in files......................................................................................3
6 Evaluating the ways to notify the clients regarding the completion of their transactions...4
7 Analysing the procedure for checking the information in the organisation........................5
8 Stating the term authority to proceed a confirmation notice...............................................6
9 Analysing the regulatory requirements is adhered to organisational performance.............7
10 Meeting the statutory timelines with the help of several ramification..............................7
11 Implication of the effective internal control system for better management.....................7
12 Implication of the code of practice in work place.............................................................8
13 The implication of the new code of practice and its interpretation...................................8
14 Managing the up to date knowledge in relation with Australian Financial Services........9
15 Compliance resolution will be by the professional organisational association...............10
16 Method of dealing with the required changes in industry...............................................10
17 CPD requirements in an organisation..............................................................................10
18 Endorsement of cheque under title “Paid under Protest”................................................11
19 The disclosure statement under section 32......................................................................11
20 Signing the contract of sale as a purchaser......................................................................11
21 Presenting the opinion.....................................................................................................12
22 Acquisition of the property by Sam's girlfriend- legal approval.....................................12
23 New Zealand vs Australian law.......................................................................................13
24 Policies and procedure of dispute resolution...................................................................13
25 Analysing the resolution process.....................................................................................14
26 Original Title and Duplicate title before invention of computer titles............................15

27 Lot entitlement and lot liability.......................................................................................15
28 Identifying the law which will be used to transfer the old law to the Transfer of Land Act
..............................................................................................................................................16
29 Defining Transmission Application................................................................................16
30 Defining survivorship application...................................................................................17
31 Presenting the meaning of sequestration order................................................................19
32 Acceptance of offer via post............................................................................................20
33 Condition Precedent........................................................................................................20
34 Implication of the commercial software package to monitor the compliances in the industry
..............................................................................................................................................21
35 Determination of the fees, taxes and rebates which will be advised to the client...........21
36 Analysing the statement becomes the term of contract...................................................22
37 Determining the difference between condition and warranty.........................................22
38 Determining the nomination form...................................................................................23
W1. What are the six aspects of a contract that makes it valid or enforceable? Who oversees
Conveyancing in your state and what legislation is in place to protect the consumer?.........1
W2 Analysing the terms and conditions stated in the section 5 of FHOG ............................2
W3 determining the policies and procedures in the organisation while changes incurred in the
operations...............................................................................................................................2
W4 Determining the common law.........................................................................................2
W5 difference between business conveyance and property conveyance...............................3
REFERENCES................................................................................................................................4

INTRODUCTION
The requirement of legal documents in the business operations is the prime tasks of the
business which will be helpful in terms of enhancing the profitability, efficiency and liquidity of
the firm. It will also be beneficial for managing the adequate relationship with the clients.
However, in the present report there will be study over various organisational issues such as
drafting invoices, taking the payments to the clients, making the healthy communication with
consumers etc. The report is also very helpful in terms of identifying the legal and ethical
methods of resolving the industrial conflicts. In relation with implicating the internal control
systems in the organisation there are several areas which will be improved. It consistent of
various policies and procedures that will be helpful for enhancing the organisational efficiency
1 Techniques to have and effective communication to client in context with advising and
recommending them.
By considering the adequate technique to have the fruitful deals with the clients or with
lawyers there are various elements which are needed to be analysed by a person. There is need to
overcome with the lack of courtesy and poor communication which will be effective in terms of
facilitating the legal solution to them. However, there are several barriers while communicating
such as lawyer usually direct addresses the issues due to lack of time and their priorities to reach
to the outcomes. They present their own knowledge and intelligence without analysing the client
and they treated them granted as well as they does not take feedbacks from clients which will be
cruel and non-delegate behaviour (Communicating with your Client, 2012). However, in order to
overcome with such issues there is need to have effective techniques and communicational skills
which will help in developing the trust in the people so it becomes easy to conveyance them to
analyse the legal advices (Baumann, Le Meunier-FitzHugh and Wilson, 2017).
2 Identifying the source documents for running the business
To have a legal or ethical look to the operations of the business there is need to have
necessary documents. However, there are various process such as offer, acceptance,
consideration, duration etc. these are the necessary things which are need to be stated in a legal
document (Ackerman and et.al., 2017). Thus, in relation with the source documents there will be
requirement of several documents such as:
1. Bank statements
1

2. Deposits/ Withdrawal books
3. Cheque books
4. Purchase/ Sale invoices
5. Employee pay advice with superannuation contribution
6. Operational transaction statements
7. Stocktake records
8. Record of sale and disposal of assets
3 Determining as if any other regulatory body related with the business
To have the influences of various parties and other regulatory bodies in the business
which are highly affecting the industrial transactions. It will be affective in terms of undertaking
the work of the entity (Conducting Business in Australia: Regulatory Bodies, 2012). However,
there are several regulatory bodies which are affecting the overall operations in an organisation
such as:
 Australian Securities and investment commission (ASIC)
 Australian Competition and Consumer Commission (ACCC)
 Australian Securities Exchange (ASX)
 Australian Taxation Office (ATO)
 Foreign Investment Review Board (FIRB)
 Australian transaction reports and analysis centre (AUSTRAC)
 Clear Energy Regulatory (Charter ed., 2017)
 Australian Communication and Media Authority (ACMA)
4 Identifying the method of invoicing compliance followed in organisation
There are some techniques which will be helpful to the professionals in the firm in terms
of acquiring the overdue and late payments made by clients (Einkamerer and Maqbool, 2017).
However, there are procedure which will be helpful to the professionals in having the payments
of the products and services they have facilitated to the clients such as:
2

Polite Reminder: In relation with this technique here the first reminder must be given to
the client at the completion of 15 days or 2 weeks which will be polite request or reminder.
However, it can be through email, calls or a text message etc. (Hawrysz and Maj, 2017).
Personal contact: The personal interaction of a professional with the client will be after
completion of a month (Smulders and Evans, 2017). Therefore, the meeting will have positive
and negative impacts in the mind and it will motivate a person to make the payments. Moreover,
here the clients personally have the invoice of the transactions.
Persistent Follow-Up: The reminder is sent by a person after the completion of a month
it is necessary to send a follow-up notice on the same day or after two days. It is the most
conveyancing and satisfactory for the professional as they do not have to wait fro the payments
of regularly checking their mails (Bliese and et.al., 2017). Thus, it will be beneficial to give the
adequate reminder to the clients.
Collection and Acceptance: After delivering many reminders on the invoices that have
been due till date. Now, this is the situation where the client made payment of refuses to make
payments (How to Follow Up When A Client Doesn’t Pay An Invoice, 2017). Therefore, here the
professionals have to call the client and make a firm reminder.
Regroup and Revise: There is need to analyse the new technique or method of having
the payments of the products and services the professionals has dealt with clients (Osminer and
Gazdzinski, Time Warner Cable Enterprises, 2017). Therefore, it is essential to analyse such
battle of receiving the payments which will not been happened again.
5 Evaluating the method of filing and archiving get completed in the firm as well as analysing
the compliance requirements in files
In relation with keeping the record of all the transaction and the stakeholders of the firm
it is necessary to develop the record keeping system in the organisation. However, there has been
influence of various laws which will be helpful in terms of keeping the records such as ATO,
ASIC etc. Thus, ASIC keeps the financial records of the organisation which will be regulatory
index- financial reporting that breaks reporting requirements down by industrial type (Schneider,
Sparks and Yerkovich, 2017). Moreover, there are several basic records which are need to be
kept by the business such as:
3

1. Keeping records in the cash book or the financial accounts
2. Maintaining the proper transactional records in the bank accounts such as cheques,
deposits/ withdrawals and bank statements (Basic record keeping requirements, 2017).
3. For the internal management there is need to keep records of employment such as
working hours, superannuation benefits, termination or recruitment of the employees,
leaves, bonus, incentives, personal contacts etc. (Eskandari and et.al., 2018)
4. There is need to keep the record of all the occupational training and development
program which will be helpful in facilitating the adequate knowledge and information
regarding the job (Bahli and Rivard, 2017).
5. For the personal reviews this is necessary to keep the record of all the sale and
transactions made in the organisation such as invoice books, receipts books, cash register
tapes, trade receivables etc. (Scott, 2017).
6 Evaluating the ways to notify the clients regarding the completion of their transactions
To notify the clients regarding the completion of their transactions there are certain ways
which will be helpful for venture such as:
 The products and services which has been offered to the client need to be mentioned in
the documents like draft or bills which must contains all the necessary details such as
quality, quantity, time, date, buyer's name and address etc.
 To retain the interest of the consumers in the organisation of develop a loyalty in their
mind there is need to offer the bonus to them which may be in products or services
(Melchers and Beck, 2017).
 If the business is operating on the online segmentation there is need to facilitate the
tracking information such as shipment of the products and duration of travelling till it
reaches to their hands (Pickup and et.al., 2017).
 They must be notified with the terms and conditions of the organisation which will be
helpful to the firm in context with timely have the payments for the operations. On the
other side, it will also determine the general terms of use, tax payments, refunds and the
membership schemes in the business (Agrawal, 2017).
4

7 Analysing the procedure for checking the information in the organisation
To ascertain the accuracy of the information and documents presented in the business
there are several techniques followed by various departments. Therefore, internal control and
monitoring of the business activities is quite an essential tool for enhancing the growth of firm
(Loomis III, Ma and Muchsel, Maxim Integrated Products Inc, 2018). Thus, in order to facilitate
the accurate information which will be based on authenticate checks there are several elements
which need to be determined such as:
Authorised Representatives: The jobs and duties are assign to the team which are
committed to industrial performance and make the adequate business decision (McCaffery and
Dorling, 2017). There is need to justify the scope of authority which will be helpful in
monitoring the business procedures.
Client Services: In relation with engaging the consumers to the entity there is need to
develop or design an internal or external control system. It will be helpful in arranging the
compensation and the licensing conditions of the business (Chiwamit, Modell and Scapens,
2017).
Corporate Governance: To have the strong corporate governance there are various
policies and procedures which will be helpful to the entity. It includes rules and regulations
which will be helpful in resolving the conflicts, Anti-Hawking, confidentiality as well as
managing the outsourcing services for the organisation (Turner, 2018).
Financial management: It includes the management of financial resources of the
organisation which will through ascertaining the cash flow position of the firm as well as
consistent examination of the financial viability (Compliance documentation, 2018).
Human Resource: It will be helpful to the entity as if the managerial professionals
analyse the costs and duration required in developing an individual to perform the operational
tasks (Baumann, Le Meunier-FitzHugh and Wilson, 2017). However, it includes, recruitment,
training and development, pay scale, working conditions, hours of shifts etc.
Information technology: To compete in the today's world it is becoming a trend to keep
the maximum records over the sites and in computer devices (Melchers and Beck, 2017). Thus, it
is necessary to install the updated devices, software and hardware which are capable of keeping
5

the maximum records of the operations. There should be appropriate network security which will
keep all the data secure and confidential.
Industrial capacities: It will be based on the level of operations performed by the entity
which determine the requirement of funds for its functioning in the competitive environment
(Ackerman and et.al., 2017).
Risk Management: This can be ascertain on the basis of capacity of firm. Thus, it can be
said that the level of risks are associated with the level of operations made by firm. These are
mainly relevant with the investments made by the firm or by the stakeholders (Schneider, Sparks
and Yerkovich, 2017). Moreover, in relation with cover such risks there is need to organise the
staff meeting, training courses and various activities which will be helpful in enhancing the
organisational performance.
8 Stating the term authority to proceed a confirmation notice
It is a formal confirmation document which will be essential to the business as well as for
the clients of the organisation. It is needed to be signed by both the parties which will have no
authority from the clients to proceed with recommendation and no defence at the time of
complains. On the other side it can be said that all the parties including advisers need to sign the
authority to proceed with proper details (Charter ed., 2017). Thus, if a client accepts the
recommendation then it will be a responsibility of the business to tell them to fill the authority to
proceed form which includes the signature over:
 The documents relevant with the financial details which are need to be correct and
authenticate.
 The provision of the privacy statements need to be understand and considered (Eskandari
and et.al., 2018).
 Thus, after understanding the required documents there is need to reduce the amount of
insurance cover and advise them to sign over such documents.
9 Analysing the regulatory requirements is adhered to organisational performance
To establish an effective policy and procedure which will be helpful in managing and
monitoring the work there are several steps which are need to be followed by the professionals
such as:
6

 The developed policy and procedure need to be discussion among the divisional leaders
to ensure its feasibilities for each units in the organisation (Scott, 2017).
 There is need to design the adequate appropriate format of policy for the various kinds of
audiences (Einkamerer and Maqbool, 2017).
 Developing the accessibilities of such polices and procedure among the internal
stakeholders such as employees, managers etc.
 The acknowledgement of such policies must be based on the deadlines (Bahli and Rivard,
2017).
 Facilitating the most satisfactory way to employees to understand such policies and
procedures.
10 Meeting the statutory timelines with the help of several ramification
In consideration with initiating the business operations there will be requirement legal
documents and procedures which will be fruitful for the growth of the business (Pickup and
et.al., 2017). However, if the business does not include the regulatory in the daily practices than
they have to face some serious penalties which will affect the operational aspects. Therefore, the
influence of the adequate regulations which will be helpful in monitoring the business operations
as well as bringing the favourable financial stability techniques in the firm.
11 Implication of the effective internal control system for better management
In relation with implicating the internal control systems in the organisation there are
several areas which will be improved. It consistent of various policies and procedures that will be
helpful for enhancing the organisational efficiency (Osminer and Gazdzinski, Time Warner
Cable Enterprises, 2017). Moreover, the application of such technique in the daily functioning of
the organisation there will be presentation of reliable financial data set, influence of various laws
and regulations as well as have an effective operational activities. Thus, the reasonable assurance
is consists of two factors such as:
 The costs of firm's internal control must not exceed and except the gains (Loomis III, Ma
and Muchsel, Maxim Integrated Products Inc, 2018).
 There is need to have proper control over the liabilities which will limits the internal
control.
7

However, the motive of professionals in providing in the adequate control system is to
have better financial stability as well as favourable decision making. Thus, the managerial
professional will become able to have the adequate revenue gathering and better allocation of the
costs in the business operations.
12 Implication of the code of practice in work place.
These are the guidance which were being facilitated to the professionals or employees of
an organisation in relation with having the appropriate cure and care of their health. To develop a
healthy environment there are various methods and techniques which are fruitful for operating
the business activities. However, it includes the satisfactory training and development program to
the employees which are conducted by the HR staff manager, supervisors, owners and various
departmental heads or leaders. However, it will be beneficial in terms of enhancing the better
operational practices in the premises as well as it prevents the employees from serious health
issues.
13 The implication of the new code of practice and its interpretation
To implement the new code of practice and guidelines there are several professionals in
the organisation which are responsible for interpreting such changes to the employees. It is
necessary to bring the health and safety awareness among the employees and professionals in the
organisation which will be helpful for building the healthy environment. Moreover, ASIC will
have responsibilities in terms of introducing the new security changes to the organisations as
well as bound the managers, HR or relevant stakeholders to provide such information to the
employees of the corporation. The training and educational program need to be scheduled in
accordance with the new code of practice as well as health and safety guidelines to employees.
14 Managing the up to date knowledge in relation with Australian Financial Services
To improve the financial knowledge in the accounting professionals of the organisation
there is need to learn various skills and techniques. Therefore, for the individual other than
accounting professionals will be beneficial in terms of having the satisfactory knowledge of the
accounting, taxation and various financial operations. It will be helpful in terms of funnelling the
person to keep the records of all the transaction in the books, managing cash flows, creating
invoices, inventory management etc. which will be helpful to them in terms of analysing the
financial health of the business as well as the taxable payment are need to be made by the entity.
8

Moreover, there are various sources to whom the business will facilitate the disclosure
information such as:
The Australian Prudential Regulatory Authority:
These are the financial institutions which are executing the financial operations of the
industry. It includes the various financial bodies such as Building societies, oversees banks,
credit unions, reinsurance companies as well as general insurance entities. However, it mainly
includes the insurance organisation like life insurance, health insurance and for the employees
there will be superannuation services etc. These authorities are very helpful in terms of analysing
the individual needs and bring them the sufficient financial cover.
Australian Securities and Investments Commission
These are the organisations which are facilitating the most adequate accurate security
trading facilities. It presents the real time value of the equity on the domestic financial market.
Therefore, it will be fruitful in terms of having the adequate revenue gathering as well as capital
stability in an organisation. The motive of this regulatory authority is to maintain the financial
market and have the disclosure of all the organisations. It is also a good platform for investors to
analyse and make their equity investments in the organisation.
Reserve bank of Australia
This is the legal authority who facilitates the banknotes and manages the monetary
system in Australia. This bank provides services to government of Australia as well as other
central banks and official financial institutions. Thus, it is the most effective financial regulatory
authority which helps in stabilising the economic conditions in the country as well as set the
banking policies for the banks.
15 Compliance resolution will be by the professional organisational association
In order to resolve the compliances at the workplace there is need to have the adequate
management of the work and duties performed by the professionals. However, it can be said that
there is need to have appropriate skills and techniques to resolve the workplace conflicts,
understand the requirements of employees and give them the adequate solutions to any serious
issues. Thus, it has been understood as per analysing the code of ethics such as:
 Maintaining the standard of quality which is to be performed by the professionals.
9