Office and Worklife
What is the most common software used to make spreadsheets?
Microsoft Excel (not Google Sheets)
What are the three components of the accounting equation?
Assets Liabilities and Equity
What does ATO stand for?
Australian Taxation Office
What does CPA stand for?
Chartered Practising Accountant
What is the phrase you use when you want to get out a meeting?
"Sorry, my internet is cutting out"
The accounting method where you record revenue when it’s earned, not when it’s received.
"Hope for the best" method (Accrual Accounting)
What percentage is Australia’s current Goods and Services Tax (GST)?
10%
Name one skill besides technical knowledge that firms value in accounting grads.
What is communication, teamwork, or critical thinking?
What is the business attire for online calls
(Top + Bottom piece)
Nice Shirt and PJ/Casual Bottoms
This report shows a company’s financial position at a single point in time.
Balance Sheet
Student loan repayments in Australia can be deducted via the tax system
False
What is the major accounting software utilised for book keeping in Australia
Xero
What is the most common keyboard shortcut you use at work?
Alt + Tab (To switch away from netflix)
Which accounts are increased with a credit?
(Name the main 3)
liability, revenue, or equity?
Which form do Australian residents typically use to lodge their income tax returns online?
MyTax
Name the Big Four firms
PwC, Deloitte, EY, or KPMG
What is a "billable hour"?
What is time spent on client work that can be invoiced?
The thing accountants love, but most business owners dread at the end of the year.
Reconciliation
What is the deadline for lodging your individual tax return if you’re doing it yourself?
31st of October
Which professional body in Australia offers the CA designation
Chartered Accountants Australia & New Zealand (CA ANZ)