BSBFIA401 Assessment Answers Australia

BSBFIA401 Prepare Financial Reports Assessment Answers

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This course necessitates an understanding of commonly recognized accounting principles. It teaches students about external financial reporting and how to construct financial statements and notes for publicly traded firms. This course has three major objectives.

The first goal is to provide students with the concepts and experiences they will need in their future careers as financial accountants, company executives, taxation officers, auditors, financial analysts, actuaries, legal advisors, or academics to understand the preparation and use of company financial statements.

The second goal is to teach students the corporate financial accountant's style of thinking and to act disciplined to assess and implement accounting regulations. Moreover, if you require BSBFIA401 to Prepare Financial Reports assignment help during the course, we are here to assist you!

What are the Learning Outcomes of the BSBFIA401 Prepare Financial Reports Course?

Our BSBFIA401 Prepare Financial Reports assignment help experts have said that the course has a lot to give you. Your thinking and analytical skills will enhance. To give you a gist of it, our assignment help experts have added here the learning outcomes of this course; take a look into it -

• Prepare a registry of fixed asset transactions, including property, plant, and equipment, in compliance with legal and organizational policy and procedures.
• Determine the best approach for computing depreciation based on your company's needs.
• Maintain an asset registry and depreciation schedule in compliance with company policy, processes, and accounting standards.
• Record non-current asset depreciation and fixed asset disposal in compliance with company policy, processes, and accounting standards.
• Prepayments and accruals should be adjusted in expenditure and revenue accounts.
• In line with the organization's policy, processes, and accounting standards, keep track of bad and questionable debts.
• If necessary, adjust ledger accounts for inventory and transfer to final accounts.
• Make general journal entries in the general ledger system for balance day adjustments in compliance with the organization's policy, processes, and accounting regulations.
• Post the balances of the income and spending accounts to the final general ledger accounts system.
• Prepare final general ledger accounts to reflect gross and net earnings for the reporting period.
• Prepare a revenue statement that reflects operational profit for the reporting period in compliance with organizational rules.
• Prepare a balance sheet to represent the company's financial status after the reporting period.
• Identify and repair problems, or submit them to the appropriate department for resolution according to company policy and procedures.

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Sample Assignment Done Under Our Guidance

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Assignment file–

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What Topics are Covered in this Course?

Our BSBFIA401 Prepare Financial Reports assessment answer providers have added here some topics covered in the syllabus of this course. Take a quick look at what are topics are incorporated in the course-

• Current assets
• Fixed assets
• Non-current assets
• Historical cost
• Market value
• Accumulated depreciation
• Straight-line
• Units of use
• Reducing balance
• Types of journal entries
• Revenues for prepayments and accruals
• Financial policy
• Prepare final general ledger
• Balance sheets

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