Question 1 – Jacob Lee Pty Ltd
Using the information provided in case study ‘Jacob Lee Pty Ltd’ in appendix, undertake the following tasks. Use all relevant computer and software’s such as excel to complete this task.
- Accounting Standards: http://www.aasb.gov.au/Pronouncements/Current-standards.aspx
- Organisational policies and procedures: http://startupjunkies.com/extras/acct-policies.pdf
- Create templates of various payment documents that need to be created within the organisation
- List some ways for the organisation to verify and validate accuracy of payment requests
- Create all required payment documents for transactions listed by using required templates
- List some ways for organisation to check and authorise the payment request received
- Get authorisation for payment request documents created previously from your manager (assessor) during a role play before processing them for payment.
Assessor will be looking for following during the role play:
- Student followed all the requirements of organisation policies and procedures during the roleplay
- Used active listening and communication skills
- Used questions to confirm requirements and authorisations
- Provide all authorisation evidence.