Business activity statements (BAS) preparation for GST: BAS stands for business activity statement this statement is issued by your accountants monthly or quarterly depending on your businesses transactions.

BAS is a form submitted to the Australian Taxation Office by all businesses to report their taxation obligation PASSINGPET.ORG. This include entries of debits and credits of your business.

Every activity statement carries a unique Document Identification Number (DIN). Activity statements can be submitted to the ATO on paper (mail), by phone, electronically (Electronic Lodgment System or "ELS") or through the business portal (via a Tax Agent). Small business activity statement , is important for annual tax return.Statement of Financial Position (balance sheet ):This statement is also prepared by your accountant annually and includes all your current assets, non current assets, current liabilities and non current liabilities. A balance sheet is often described as a snapshot of a company's financial condition. The main categories of assets are usually listed first and are followed by the liabilities. The difference between the assets and the liabilities is known as owners equity or the net worth of the company or, the net assets, net worth must equal assets minus liabilities.Statement of financial performance (profit and loss statement):This statement is also prepared by your accountant annually or quarterly. This includes all your business revenue less all your business expenses. The accounting can also include financial analysis of your business performance and cash flow report.Cash flow report:This statement can be done annually or quarterly, these includes cash going into your business and cash going out of your business. It is usually measured during a specified, finite period of time. Cash flow is a generic term used differently depending on the context. It may be defined by users for their own purposes.