1. Discuss measures a company may safeguard integrity in financial reporting
2. Discuss how companies can promote ethical and responsible decision making.
3. Define Accrual Accounting
4. List 2 advantages of double entry accounting over single entry
5. List the 5 types of accounts which underpin double entry bookkeeping
6. Which of the following examples would Total Assets remain unchanged?
7. Give 4 examples of benefits that would require Fringe Benefit Tax to be paid on them
8. What are the 4 types of taxable transactions?
9. How does a professional in the account profession ensure they maintain ethical practices? Discuss
10. Give 3 examples of perceived disadvantages of budgeting
11. What is depreciation? How is it claimed? What information is required
12. What is sensitivity analysis? Discuss how this can impact the business budget
13. What is straight-line depreciation? Give an example
14. What do reporting entities need to report-Give 3 examples
15. What is FTR ACT?
16. What is chart of Accounts?
17. List the 7 Basic Accounting Types in the Chart of Accounts in order
18. Give an example of budgetary deception technique
19. Give an example of a situation that would result in an accrued expense. What happens if the expense isn’t accrued?
20. What is cost underestimation? What does it result in? What usually causes this?
21. How long does a company need to keep its financial records
22. What records need to be kept for ATO for a small business with an annual turnover of less than $2minllion (cash basis)
23. What information should be shown on sales and expense invoices/receipts?
24. What records relating to assets for capital gains tax purposes should be kept, and for how long?
25. What FBT records must you keep for tax purposes? How long must you keep these records?
26. Outline a strategy that could be used to ensure participatory arrangements are established and maintained with employees and their representatives within a small business. Include how you would document this process and make the information available to all employees to endure you meet OHS legislative requirements.
27. You are to develop a generic ‘Incident report’ for a workplace. Also develop a policy/ procedure to ensure that all incidents reports that are completed and submitted are reviewed by management to allow for patterns of injuries, implementation of risk control measures, inadequacies in risk control measures and general OHS issues to be identified
28. Outline the documentation requirements to support legal requirements of OHS and continuous improvement strategies within the workplace. In your response include how you could measure the effectiveness of current OHS strategies in a workplace.
29. Explain how a manager can be a positive role model for staff within a business. Detail the qualities a manager should possess
30. What information do you require to set your own personal goals in a work environment? Explain the SMART goal setting method in your response
31. In developing a performance plan for your own work output what factors should be taken into consideration? Outline how you could address each of these points when setting personal work goals
32. ‘An important skill that a business manager must possess is to be able to multi-task and priorities effectively to ensure all goals can be achieved’
Explain the above statement and how it relates to the overall performance of a business highlighting team/organizational goals and objectives
33. What types of methods and technology are available to improve your ability to effectively manage your work priorities and achieve personal, team and organisation’s goal and objectives?
34. What strategies could be implemented to measure your own personal work performance and maintain this performance within a workplace environment? Include all aspects of gaining feedback on your performance and ability to change your work practices as required when feedback is received
35. Outline what you feel are the biggest time wasters in your completion of your studies. How do you manage these time wasters to ensure you can effectively manage your time and meet your study requirements?
36. How can you manage maintained an appropriate work-life balance and ensurer stress is effectively managed?
37. Explain why it is important to continually develop personal knowledge and skill to enhance your work performance. Outline ways in which you can develop and assess your skill when working as a manager within an organization using both internal and external source/ networks.
38. Explain the different types of learning styles that an individual may have and outline your own personal learning style. Include the reasons that you feel a particular learning style in more appropriate for yourself. How does being aware of this information help you to identify, evaluate and selection development opportunities for yourself?
39. You are required to select a position within a current company that you would like to achieve within 10 years
You are then required to write this into a goal and set out a professional development plan that indicates the types of skills and knowledge that you will have to undertake to achieve this goal.
40. What business be involved in continuous improvement and how does a continuous improvement philosophy benefits a business?
41. Who should be encouraged to be actively involved in the development of continuous improvement processes? Explain your answers indicating the reasons why these people be involved and what they can input into development process.
42. As manager what strategies are able to be implemented to support staff in the implementation of continuous improvement practices within the workplace? In your response include communication strategies, training requirements and how effective support can benefit the continuous improvement process
43. What information can be sought and gained to monitor the effectiveness of any continuous improvement efforts?
44. Outline why it is important to monitor any continuous improvement efforts in line with the business goals and operational progress and how this can be done
45. When continuous improvement strategies are implement there are often changes associated with operational planning, tasks and objectives. How should these change be communicated and implemented to ensure all stakeholders are informed of the operational changes.
46. How can a manager ensure that team members are kept informed of their continuous improvement efforts and the effect it has on the operational goals? Relate your response to how feedback or lack of feedback can affect staff and the team.
47. What information can aid the ability of a manger to correctly identify areas that require improvement or could benefit from improvement in future planning for business? Explain why this information should be considered.
48. Outline how a business can review customer service strategies and indicate the types of data that should be accessed to effectively manage the customer service strategies.
49. Describe what records should be kept while reviewing customer service and how any recommendations should be implemented.
50. What things need to be considered while planning a meeting and what could be the costs associated with them?
51. Briefly explain the skills and qualities needed to manage efficient meetings. Your explanation should include any legal or ethical issues that you must be aware of while managing meetings.
52. How to ensure that time constraints are met while managing meetings and how you need to handle any conflict within the meeting.
53. List the types of tasks that can and should be delegated while planning and managing a meeting.
54. What are the benefits associated with delegating meeting tasks to other staff members?
55. Explain the role of the minute taker and the interaction undertaken before, during and after a meeting
56. Flora Raymond Pty Ltd is a clothing company and it will be holing a meeting of Department managers on 3rd October. The meeting will take place in the Board Room at FRPL premises-260 latrobe Street, Melbourne, Vic
The commencing time for meeting is 9:30 am and will include discussion on Italian fabric wholesalers, company travel expenditure and implementation of new OHS procedures, Sales, Financial and marketing reports, review of existing position descriptions and review of operating budget for next six months
57. What information and resources are required to develop position descriptions duties and general understanding of job roles within a workplace?
58. Outline in detail any consultation processes that should occur, who you should consult with and how these position descriptions could be implemented?
59. What are ‘performance indicators’? How can they be implemented and measured to ensure employees are working effectively within the business?
60. Outline the key requirements of a successful ‘Performance Management’ system. In your response you are to include the people who should be involved in the process and the steps involved in the implementation and review processes to ensure and effective system. Refer to college procedure ‘Performance Management’ for a guide
61. Outline the methods that a Manager can use to provide feedback in relation to performance of their staff. Include why feedback needs to be an integral part of Performance management system.
62. Describe the processes a manger could use when the performance of a staff member is under performing. Include learning methods that can be used to improve the staff performance and how this improvement could be measured?
63. List timeframes for the feedback to be given and what documentation needs to be kept of the feedback
64. What other processes could be implemented to support and ensure taff are aware their required performance standards and how their performance is measured?
65. How these processes (mentioned in response to 64) are supportive to continuous improvement motives behind people management
66. Briefly outline the processes that could be implemented when a staff member is not performance expectations after a performance management system has been implemented and support and counseling techniques have been attempted. Include legal requirements and methods to review the overall performance management system. What disciplinary process would now be used?
67. When can termination of a staff member be auctioned? What organizational and legal requirements should the termination be in accordance with?