This detailed textbook is designed to teach students and professionals to accurately account for and report Activity Statement items. The book also contains information on registering as a BAS Agent, maintaining currency and BAS services best practises.
Each line item of the BAS or IAS is explained - what's included, what isn't, and practice exercises immediately testing the student's understanding of the material. Realistic case studies and examples are used throughout, and each chapter contains a number of Chapter Review Questions.
The principles learned in the text can be applied to any accounting system; manual or computerised, and extend to advanced practical considerations such as cash reporting from accrual records, calculating WET and LCT and variations.
The 8th Edition is current as at 1 January 2017 and all examples and exercises are set in the 2017 tax year.
Chapter 7 of the text steps students through BAS preparation in a computerised accounting system, and is accompanied by MYOB AccountRight 2016.2 practical exercises.