Question 1)What is GST and how is it implemented? Who is required to register for GST? What piece of legislation

Question 1)What is GST and how is it implemented? Who is required to register for GST? What piece of legislation

primarily governs GST?

Question 2)What are audits and why are they carried out?

Question 3) What are:

Budgets.

Cash flows.

General ledgers.

Profit and loss statements.

Question 4)There are several ways organisations maintain financial records. They include manual systems (hard copy) and computer-based (electronic) systems. How do computer and manual systems operate?

Question 5) Why do organisations need accurate and timely financial information? What information is required to manage the organisation’s finances? Who is usually responsible for an organisation’s financial management?

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