The Business Activity Statement finalises the accounting side of a business every month or quarter and includes income and expenses as well as liabilities and assets. It’s the final step which reveals the taxes and amounts owed by the business as well as obligations and liabilities which relate to payroll and superannuation.

These topics are covered in the BAS Course and End of Quarter Financial Reporting:

• Legislative, regulatory, industry and organisational requirements
• Tax obligations
• Australian Taxation Office (ATO)
• The cash system
• The accrual system
• Managing transactions for more than one business
• Company tax
• Asset purchases
• Income tax legislation
• The use of IT software and equipment
• Organisational and industry requirements
• National Tax Practitioners board requirements
• Code of professional conduct
• Conduct of personal vs business affairs
• Ascertaining a client’s state of affairs
• Ensuring tax laws applied correctly
• Taxation laws
• Financial Reporting / Outcomes
• BAS agent services
• Tax agents
• Accessing information
• GST reports
• Superannuation levy
• Governing bodies
• Corporations legislation
• Record keeping
• Policy and procedure
• GST principles
• Adjustments
• Calculating GST
• Registered for GST
• Registered for ABN
• Not registered for GST
• Entering cash transactions
• Processing accounting data
• Reconciliations
• Calculating and reconciling total salaries
• Calculating pay as you go instalments
• Amounts withheld
• PAYG systems instalments and records
• PAYG tax withheld
• Fringe benefits tax (FBT)

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The Messy Startup BAS Course Case Study

Jerry leaves the corporate world to start multiple businesses and leaves a trail of messy transactions which affect every aspect of a business bookkeeping, including assets, liabilities, income and expenses.

You’ll work with 3 months of bank statements and transaction data and perform catchup bookkeeping for Jerry’s business so that he is compliant and his information is accurate.

You’ll run some financial reports for Jerry and explore business decisions he needs to make in the following quarter.

Discover the practical bookkeeping course case study that is used to teach you how to perform these tasks using QuickBooks, MYOB and Xero: Jerry’s Messy Startup

 

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