Loading icon
How to name, save and export a finish template

Task 1 - Theory Questions 

1. Explained the key components of the accounting equation. 

2. Explained the accounting entity concept within the accounting convention framework. 

3. Explained the double-entry accounting system in terms of debit and credits 

4. a)  Explained Accounting standards as a regulation and the regulatory body responsible for them. 

b. Researched AASB101 and demonstrated their understanding of a key component of the standard. 

5. a)  Identified legislation which requires compliance with Accounting Standards

b. Identified the Accounting standard recognised within legislation for recording company income tax. 

6. a) Identified a proof of lodgement for banking funds at a bank. 

b. Explained 2 alternative methods for banking funds. 

c. Identified proof of lodgement for the 2 alternative methods in Q5 b). 

d. Explained the filing of documents using company policies and procedures 

7. a)  Identified 3 industry accepted security and safety precautions appropriate for ensuring correct recording and banking. 

b. Identified 3 security methods for deposting money 

c. Identified 3 industry accepted methods of reducing cash received by the organisation 

8. a)  Checked and verified financial transactions to ensure they are correct to supporting documentation. 

b. Identified 3 errors or missing information as per industry and legislative requirements 

9. Using policies and procedures identified how to act upon errors found. 


Task 2 - Double Entry Accounting 

Demonstrated knowledge of key principles of debit and credit within accounting systems. 


Task 3 - Petty Cash 

a. Record petty cash vouchers and claims, checking for validity 

b. Identified invalid petty cash payments and how to act upon these issues in accordance with organisational policies and procedures. 

c. Processed and balanced petty cash transactions. 

d. Balanced petty cash book according to organisational procedures 


This Assignment has been solved by our Experts at Assignmentsample. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style. 


Be it a used or new solution, the quality of the work submitted by our assignment Experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction. 

Choose File
No file chosen...