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FNS50215 Diploma of Accounting


FNS50215 Diploma of Accounting

 Part 1

Listing the financial objective of Anthony Long

After the interview conducted by the client name Anthony Long it can be stated that the some financial objective of the client based on which the following objective have been articulated:

1.      Reducing tax liabilities:

this is one of the most desired goals which is needed to be achieved by the client to increase the profit margin by decreasing the tax liability of the profit incurred by the business activities of the company.

2.      Wealth accumulation:

The client seeks to increase the accumulation of the wealth through years of business operations and this can be achieved through the profit incurred by the business in the year of activities.

3.      Asset development:

The client has aim of increase asset occupied by the following through investing the profit incurred by the company in asset so as to increase the financial cover of the client in future financial activities.

4.      The decrement of cost and expenses:

This is also a goal which the company wants to achieve as this will increase the profitability of the client substantially. 

Identifying the financial and legal requirements for the objective of the clients

1.      The company has complied with tax legislation and should be registered under the taxation system of the country. This will help the client to follow a proper tax structure and achieve legal requirement in the process.

2.      In order increase their profit size of the company for wealth accumulation it can be said that the company needs to increase the profit margin this will help the client to meet their financial objectives (Vogel, 2014).

3.      In order to decrease the cost and expense of the client the client need optimize the expense incurred by the client in rendering and producing service and goods respectively.

The process the client will need to undertake in order to achieve their financial goals:

 In order to achieve financial goal the process which the company will have to undertake are as follows:

1.      Personal investment strategies: The personal investment strategies used by the firm are to be assessed in order to evaluate as this will help the organization to effectively increase returns from investment activities.

2.      Business registration: The client has to get his business registered.

3.      Insurance needs: The client will have to know the needs of insurance cover within his business.

4.      Tax issues: The Company has to comply with the taxation system of the country in order to get validated to commit trade within the country.

Part 2

       The importance of constantly reviewing client’s financial positions/goals

If the client would be able to make the works up to the point then it may be effective for the company to make the works as per the needs. This may possibly be effective for the client to present its financial position on the point through which this may need to be done as per the needs of the company and this may also be as per the requirement of the company (Titman, Keown & Martin, 2017). For reviewing the financial position company it would require some changes through which it may be said as effective for the company in various ways which are as follows:

a.      Financial condition: financial condition of the company would be to the point as this may need to be done in such a way through which it may result in effective working ways for the company. This may be as per the ways through which this may be effective for the company to check the financial position of the company.

b.      Operating results: Operating works of the company through which the works that are being done in the company throughout the year would be effectively resulted in effective working ways.

c.       Cash flows: Cash flow systems that are being practiced in the company would lead to the working ways through which this may be effective for the company to make the works as per the needs of the company. Cash flow systems of a company would always be in the ways of working ways this may lead to the maintenance of the works in an effectively.

d.      Shareholders’ equity: Shareholders will always be the main criteria for a company in any type of works that will be done in the company and on the context of which this may be as per the needs of the company and will be done in an effective way.

Review of the areas that were not perfectly covered

Throughout the working year the works that were being done in the company would let the works of the company would need to be done as per the ways through which it may need to be as per the ways through which the company would want it to be. If the works would not be the wants of the company then it may be hard for the company to know the ways through which the rocks had not been maintained (Cucchiella, D’Adamo & Gastaldi, 2015). In this case it would need to be the duty of the company to effectively work and maintain the works of the company in such a way through which it may be effective for the company in different ways possible and this may need to be done as per the needs and in an effective way.

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