legal requirements FINANCE CONTROL APPROPRIATE SUPPLIERS Policies and Procedures Technological and Global issues
100
What is PAYG?
The acronym for “Pay as you go"
100
What is the separate entity principle?
when business and its owners record transactions separately in two separate bank accounts.
100
What is CSR?
Going above and beyond legal expectations to benefit the community (including employees) and/or the environment.
100
What are policies?
a broad set of guidelines that govern behaviours on a certain area within an organisation, such as tucking in shirts at school.
100
What is a customer database?
The gathering of customer data, such as postcodes, and recording the information so that future products and advertising can be more targeted.
200
What are local councils
The body responsible for zoning laws, parking regulations, health regulations, business signs, new development laws.
200
what are business assets?
property or equipment that a business purchases which generates money.
200
What are factors effecting supplier choice?
Factors such as the reliability, price and quality of a distributor
200
What are procedures?
a series of steps or actions that support a policy
200
What are global issues ?
cultural differences, CSR issues, overseas laws, delivery issues.
300
What is GST?
a regressive tax in which 10% is payed on all products sold
300
What is owner’s equity?
the value of the business to the owner
300
What is price?
if kept low increases consumer demand and overall profit
300
What are examples of policies ?
correct uniform, restricting mobile use, and no smoking in particular areas are example of these.
300
What is the impact of technology?
the digital effect on manufacturing times, boosts marketing audience and contributes to the production of customer databases.
400
what is company tax?
A proportional tax imposed on a business
400
what is budgeting?
A business estimation of revenue and expenses over a period of time
400
What is proximity?
if kept close can save time, money and support the local area
400
What are policies and procedures for?
correct uniform, restricting mobile use, and no smoking in particular areas are example of these.
400
what is the privacy act 1988?
the act established by the commonwealth to ensure online privacy
500
What is the competition & consumer act 2010?
Is the legislation covering the banning of cartels, exclusive dealing and misuse of market power.
500
What is cash flow management?
involves keeping cash books with a cash receipt and payment journal
500
What is quality?
product seems reliable and efficient, enticing consumers to buy
500
What do procedures do?
may benefit employees as it creates equal opportunity within the workplace
500
What are examples of technology?
examples such as 3D printing, smartphone apps and remote cameras.






LEGAL REQUIREMENTS AND FINANCIAL CONSIDERATIONS

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