5 Business Entity Concept- The business and the businessman are two different and distinct entities. I.e. that the firm and the partners‚ the company and the shareholders‚ the owners and the organization have their own distinct identities. All accounting is done from the perspective of the business. The accountant regards owners‚ creditors‚ suppliers‚ customers as parties transacting with the business. All transactions are viewed from the point of view of the business. Money Measurement
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initial thought was‚ “just get your thoughts onto paper and you can rearrange for flow‚ spelling‚ grammar‚ etc. This shouldn’t be too difficult”. About an hour later I realized three things: (1) I had never truly completed a meaningful self-analysis‚ (2) This was going to take quite a bit longer than I intended‚ and (3) Just how important clearly and thoroughly completing a self-analysis & career outlook is. I continued to struggle generating meaningful thoughts‚ let alone putting something on paper
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P7: Outline electronic and non-electronic methods for communicating business information‚ using examples for different types of audience. The first type of information that I am focusing on is written information that is on screen‚ the form of the communication is a PowerPoint presentation which is used electronically to present information to members of staff. In Sainsbury’s they hold meetings regularly and my example of a time is when they had a new product that was coming into their store
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Unit 201 Outcome 1: Understand how to plan work and be accountable to others 1.1 Outline guidelines‚ procedures and codes of practice relevant to personal work? There are many guidelines‚ procedures and codes of practice in place which helps me to my job correctly and to a high standard in a professional manor. A procedure within my work place is making sure we report accidents at work in the accident book for health and safety reasons‚ understand where the fire exits are and the fire drill
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The Ethics Emphasis: A Misallocation of Business Resources “There is one and only one social responsibility of business-to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game‚ which is to say‚ engages in open and free competition without deception or fraud.” Milton Friedman‚ a Nobel-Prize winning economist and strong advocate of free markets‚ summed up his view on ethics and corporate responsibility with those few sentences
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Unit 221. 7.1 Locate and select equipment needed for a task. When selecting a piece of equipment‚ I would consider what different methods could be used. For example‚ if a colleague requested a copy of a letter I could use the photocopier‚ or I could scan it into my computer and email them a copy of the document. 7.2 Use equipment following manufacturer’s and organisational guidelines. Equipment within the office needs to be used following any guidelines from the manufacturer/organisation to eliminate
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National Diploma in Business Level 6 Business Environment Assessment \ People credited with this unit standard are able to: assess political‚ economic‚ and cultural trends monitor and evaluate new processes and technologies monitor the competitive environment and assess opportunities identify‚ research and evaluate opportunities for business development assess impacts of options on current business operations‚ and identify required changes to operational methods
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CONTENTS 1. Understanding the Sources of Finance Available to a Business Identify the sources of finance available to a business. Assess the implications of the different sources Evaluate appropriate sources of finance for a business project 2. Understanding the Implications of Finance as Resource within a Business Analyse the costs of different sources of finance Explain the importance of financial planning Assess the information needs of different decision makers Explain the impact of
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Module 2 ITC Ed. 2002 Unit 1 Unit 2 Unit 3 Unit 4 Unit 5 Introduction What Needs to be Specified Specifying the Product or Service Quantity‚ Delivery & Service the Process Learning Objectives By the end of this Unit‚ you should be able to: Describe different types of demand patterns and explain the difference between dependent and independent demand. Explain the main different ways of forecasting demand. Describe the main issues to consider
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\Topic 2 – Consumers & business 1. Role of consumers ‘Consumer sovereignty’ refers to the pattern of consumer spending in an economy will determine patterns of production and resource allocation. Since firms are rational profit maximising entities‚ they will produce what the consumers want to buy and how much they buy. Consumer sovereignty is not only important for maximising profits‚ it will also act to ensure that firms maximise their efficiency. If by producing at technical efficiency (lowest
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