Task 1

Part A

Answer the following questions.

Question 1

What are the advantages of cloud-based computerised accounting systems compared with traditional desktop accounting systems?

Question 2

Most organisations have a range of policies and procedures relating to the operation of their accounting systems. Describe how you would apply policies and procedures to operating a computerised accounting system.

Question 3

With accrual accounting, when does the GST implications arise and why is it considered to be better than the cash system?

Question 4

Briefly discuss the privacy requirements that need to be implemented for the information collected from an employee for the payroll function

Question 5

To what standards does the Chart of Accounts need to be prepared and what role has the AASB in this?

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