• Evaluate cost data to plan budgets. The Chief Financial Officer is also responsible for financial information systems, accounting and collections procedures, and investment activities, and makes recommendations on changes to procedures, operating systems, budgets and other financial control functions. Task 33.1 Essential financial system and records: - This can be measured by two software available on the market MYOB and quick book. One can easily record all small business transactions in this software. Financial records can be maintained properly by maintaining records of all transactions such as income, assets (purchase, sales), expenses, liabilities (increase, decrease) and capital. After that, there are entries such as cash flow, journal, income and balance. Next, make a ledger and trial balance and prepare financial reports. After establishing the financial report, it must be sent to the IRD for the final statement. 3.2 Legal and Financial Control System: If Nicole decides to start school, she must follow all legislations such as: -• Labor Relations Act 2000 • Income Tax Act 2007 • Goods and Services Tax