Knowledge

What is a code of conduct?

• A guideline of what or what not to do outside of work

• Laws that are followed in the workplace

• A set of rules and guidelines outlining ethical and behavioral expectations
• Rules suppliers have to follow when dealing with a company

An example of law that businesses have to follow is​ the (a)  

• Data Protection Act
• Tax Evasion Act
• Environmental Pollution Act

Typical responsibilities of someone in an accounting role would be ​ (a)   and ​ ​ (b)  

• recording invoices
• outbound sales calls
• bank reconciliations
• cleaning the office
• Assisting in HR

Which of the below are classed as a process within accounting and finance functions?

• preparing financial statements

• dealing with customer complaints

• performing bank reconciliations

• health and safety training

• processing invoices

Sage is an example of an accounting (______)

There are many types of accounting reports that can be produced such as ​ (a)   and ​ (b)   .

• income statements
• statement of cash flow
• sales forecasts
• staff training

Why is it important to keep up to date with relevant policies and procedures?

• To save time and resources in training

• To be able to answer questions to customers

• To ensure compliance, efficiency, and safety in the workplace.
• In case your knowledge is randomly tested

Examples of some of the accounting ethics include ​ (a)   ,​ (b)   and ​ (c)   .

• integrity
• confidentiality
• professional behaviour
• friendly
• motivation

Organise these "cost by nature" options below into the correct categories for a restaurant. Groups (a) Materials, (b) Labour & (c) Overheads.

Groups:

(a) Materials

,

(b) Labour

,

(c) Overheads

• Wages of Head Chef

• Wages for Delivery Drivers

• Ingredients for Meals

• Cleaning Products

• Cutting Boards

• Electricity Expenses

• Telephone Charges

• Wages for Serving Staff

• Utensils

• Rent Expenses

The accounting equation is:

• Assets - Liabilities = Capital

• Assets = Capital

• Income - Expenses = Profit

• Assets + Liabilities = Capital