FNSACC301 – PROCESS FINANCIAL TRANSACTIONS AND EXTRACT INTERIM REPORTS

Question 1

What is the debit and credit formula for each account type?

Question 2

What should be done before taking a deposit to the bank? (80–100 words)

Question 3

List and briefly describe five errors that are typically made when processing financial transactions.

Question 4

When you are reconciling transactions, what can you use as proof of lodgement? (100–120 words)

Question 5

List and describe (50–80 words) five types of special transactions.

Question 6

How should you deal with confidential information? Provide three examples of breaches of confidentiality. (120–150 words)

Question 7

What aspects of legislation can impact upon financial transactions and reporting? (80–100 words)

Question 8

How can policies and procedures control spending? (80–100 words)

Question 9

What security checks should be applied to cheques or vouchers? List and describe five checks.

Question 10

List and describe (50–80 words) the key features of three reports.