This practical guide covers not only bookkeeping essentials but also a range of accounting and taxation issues that tax agents, bookkeepers, accountants and business owners need to be aware of. It has a very practical approach, with numerous worked examples, diagrams, checklists, tables and FAQs.

Topics covered include:

• overview of basic bookkeeping and accounting principles
• how to prepare a set of financial statements for clients
• key taxation principles that bookkeepers need to be aware of, including income tax, GST, and FBT
• guidance on the practicalities of payroll and KiwiSaver
• comprehensive examples of how to prepare a GST return under both the invoice and payments basis

A list of commonly asked questions is included at the end of each chapter.

The second edition has been updated to take into account legislative change affecting financial reporting in New Zealand, including an overview of Inland Revenue’s minimum financial reporting for small to medium-sized businesses.