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(Statement of comprehensive income)
million pairs per month, and the total production of corn has increased by
million bushels per month.
Does PAYG withholding and installment take away from it
1,500 and 6,000
From that would i get a refund of 7,500?
The activity statement allows a business to calculate obligations, allowing a single payment or refund for each reporting/ payment period, across the taxes.
For example, if in a quarterly reporting/ payment period, a business had:
a GST credit of $15,000
a PAYG instalment liability of $6,000
a PAYG withholding liability of $1,500, and
an FBT liability of $1,000
Would the business need to make any payments?
FBT of $1000 would need to be paid is lodgement is quarterly. FBT is separate from Income Tax.
Explanation reveals a lack of understanding the use of a BAS, have not identified the other taxes and if a payment will be required.
What is the importance of collecting, maintaining and providing accurate financial/ resource allocation records and reports
For the successful conduct of business, a prerequisite is the availability of accurate financial information. The quality of the organization of the process of collecting, storing and providing accurate financial reports and reports on resource allocation has a direct impact on the effectiveness of management decisions taken. That is, leads to the achievement of the company's goals and the maximization of its goals.
Insufficient explanation of the affect upon managers and supervisors of collecting, maintaining and providing accurate financial / resource allocation records and reports