Purpose Ensure Business Activity Statements (BAS) reports are completed accurately and on time. Background This is a relatively straightforward process and provided you have accurately entered information to your accounting package, should be completed with a minimum of fuss. Scope Accounting Staff Due when…
Purpose To ensure regular Profit and Loss Statements are prepared for management and that processes are in place for a regular review of the Profit and Loss situation of the business. Background The Profit and Loss report generated by your manual record keeping, your computer software, or the accountant you’ve previously hired, is also known as an Income Statement. This is perhaps one of the easier reports to compile, but one…
Purpose Prepare a standard monthly suite of management papers for review by senior management Background This procedure details the minimum reports that should be prepared monthly for management review. Scope Management and Accounting Staff Procedure Prepare the following reports for use by management in monthly management meetings (where appropriate prepare both monthly and year t…