what are the key requirements for financial record keeping and auditing?
473464
['accurate and accessible accounting records that explain the transactions and financial position of your SMSF.', "an annual operating statement and an annual statement of your SMSF's financial position.", 'copies of all SMSF annual returns lodged.']
98554
['Possession of a tax invoice or debit note or document evidencing payment.', 'Receipt of goods and/or services.']
771809
['Analytical Skills. Accounting work requires a meticulous, detail-oriented eye. ... ', 'Organization. ... ', 'Critical Thinking. ... ', 'Interpersonal Communication. ... ', 'Adaptability. ... ', 'Time Management. ... ', 'Industry Knowledge. ... ', 'Spreadsheet Proficiency.']
882617
["A bachelor's degree in accounting, finance, or economics.", 'An MBA (in finance or accounting preferred)', 'A minimum of seven years of combined accounting and finance experience, with at least two years as team manager or assistant controller.']
183294
['Employment and income information.', 'Bank account information and bank statements.', 'Credit report.', 'Collateral (in some cases)', 'Identification.']
1114584
['Understandability. One of the most important features of a financial statement is that it should be easily understood by the user. ... ', 'Relevance. The financial statements must contain relevant information for them to be useful to the users. ... ', 'Reliability. ... ', 'Comparability.']
349089
['the objective of general purpose financial reporting.', 'qualitative characteristics of useful financial information.', 'financial statements and the reporting entity.', 'the elements of financial statements.', 'recognition and derecognition.', 'measurement.', 'presentation and disclosure.']
240083
['Level 2 Certificate in Bookkeeping.', 'Level 2 Certificate in Accounting.', 'Level 2 Certificate in Manual and Computerised Bookkeeping.']
1238482
['excellent verbal communication skills.', 'maths knowledge.', 'analytical thinking skills.', 'knowledge of economics and accounting.', 'the ability to use your judgement and make decisions.', 'customer service skills.', 'the ability to accept criticism and work well under pressure.', 'the ability to use your initiative.']
1173859
['Make thorough planning and strategy for the business to keep up.', 'Comply with the necessary business and legal requirements.', 'Take care of employees and human resources.', 'Be transparent and careful with finance and accounting.', 'Delegate tasks accordingly.']
996259
The most important objective of any finance department is to keep accurate financial records. This includes helping you meet your legal requirements and ensuring you don't spend more than you have by accident.
54948
['Understandability. The information must be readily understandable to users of the financial statements. ... ', 'Relevance. The information must be relevant to the needs of the users, which is the case when the information influences their economic decisions. ... ', 'Reliability. ... ', 'Comparability.']
1466283
['Income details including paycheques and possibly tax returns.', 'Financial details such as banking statements or any other type of income.', "If you're self-employed, tax returns from the last two years or another document proving your income will likely be necessary."]
636436
['Understandability. The information must be readily understandable to users of the financial statements. ... ', 'Relevance. ... ', 'Reliability. ... ', 'Comparability.']
915571
You need good records to prepare accurate financial statements. These include income (profit and loss) statements and balance sheets. These statements can help you in dealing with your bank or creditors and help you manage your business.
598065
['Revenue recognition. ... ', 'Going concern. ... ', 'Internal control over financial reporting. ... ', 'Auditing accounting estimates, including fair value measurements. ... ', 'Engagement quality review. ... ', 'Professional skepticism. ... ', 'Related parties and amendments to certain PCAOB auditing standards regarding significant unusual transactions.']
750498
['Accounting ethics involving conflicts of interest. ... ', 'Predicaments with client confidentiality. ... ', 'Impacts of financial reporting. ... ', 'Identify potential legal issues. ... ', "Take an outsider's view."]