Activity 23 Activity statements must be lodged in accordance with statutory, legislative and regulatory requirements. How can an effective accounting system help?250 words Activity 22 Why do drafts of...

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Activity 23


Activity statements must be lodged in accordance with statutory, legislative and regulatory requirements. How can an effective accounting system help?250 words


Activity 22


Why do drafts of returns and lodgements need to be reviewed and signed off by authorised personnel? 70 words


Activity 21


1​Explain the benefits of maintaining control accounts. Conduct independent research as needed. 150 words



2​What does it mean to say that figures should be reconciled? 100 words



Activity 20

1If a business has an annual turnover over $20 million, what options does it have on how to pay its GST obligations? By what method can it report and pay its GST?30 words


2​Businesses must complete BAS and/or IAS returns in accordance with the current statutory, legislative, regulatory and organisational schedule. How will you know what the schedule for a business is? 25 words


Answered 3 days AfterJan 24, 2021

Answer To: Activity 23 Activity statements must be lodged in accordance with statutory, legislative and...

Tanmoy answered on Jan 27 2021
133 Votes
Business management
Activity statements must be lodged in accordance with statutory, legislative and regulatory requirements. How can an effective accounting system help?
Restr
ictions are imposed on the person who gets information of the business and also of the business with whom the ATO authorities can contact for matters related to taxation. After the GST activity statement is filled, prepared and completed it is the person authorised who needs to read, review, sign and put a date of authorization on it. This authorized person must be an individual who is registered with the ATO and must be able to provide a valid proof of his identity. The information stated in the statement needs to be declared as true and correct if the lodgement of the GST is done through a paper. On the other hand, if the same is lodged electronically the same needs to be signed electronically by the authorised person.
There must be a declaration as follows when using an agent:
1. The activity statement must be constructed as per the data and information provided by the organization.
2. The declaration which is made by the entity must be received by the agent on the basis of the data and information delivered to the agent and the same must be prepared as per the true and correct activity statement.
3. It is the responsibility of the agents who is authorised by the organization to furnish the activity statement to the ATO Commissioner of Taxation.
As the agent lodges the activity statement, the organization needs to prepare and sign the declaration stating the following:
1. The individual must provide the agent the authorization that the activity statement must be provided to the Commissioner.
2. The information which is prepared and provided to the agent with respect to...
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