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> | Different types of business entities will be described as below, but not limited to: |
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| | - sole trader |
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| | - partnership |
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| | - company |
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| | - non-profit organisation |
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> | Common business objectives will be described as below, but not limited to: |
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| | - profit |
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| | - continuity |
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| | - social responsibilities |
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| Business environmental factors that influence a business will be described as below, but not limited to: |
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| | - competitors |
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| | - unions |
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| | - government |
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| | - living standards |
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| | - technology |
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| | - the media |
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| | - communications |
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| | - differing cultural norms |
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| | - currency issues |
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| | - markets |
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> | The ways in which computer systems are used in the business environment will be explained. Applications that are common and those that are unique will be identified. |
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> | The importance of the business planning will be explained. |
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> | Functional areas within a business will be identified and a typical organisations structure described. |
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> | Who and what is liable for GST will be briefly explained. |
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> | The purpose of accounting as an information system, for both internal management and external stewardship, and how this leads to the various branches of accounting, including financial, management, tax, and public, will be explained. |
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> | The elements of the accounting equation will be defined and examples given. |
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| | (eg. assets, liabilities, revenue, expenses and owners equity) |
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> | The importance of the Chart of Accounts will be explained. |
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> | Simple manipulations of the accounting equation will be explained and performed. |
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> | The steps in the accounting cycle will be listed. |
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> | Typical business transactions will be described and the way in which business transactions are recorded within the accounting (manual and/or computerised) system, will be demonstrated using the general journal. |
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