BUSINESS STUDIES

FOUNDATION OF BUSINESS

Course Content

    Nature and Purpose of Business:
  1. Concept and characteristics of business.
  2. Business, profession and employment -Meaning and their distinctive features.
  3. Objectives of business - Economic and social, role of profit in business
  4. Fundamental accounting assumptions: going concern, consistency, and accrual.
  5. Classification of business activities: Industry and Commerce.
  6. Industry - types: primary, secondary, tertiary - Meaning and sub types
  7. Accounting Standards and IFRS (International Financial Reporting Standards): Concept and Objectives
  8. Commerce - trade: types (internal, external, wholesale and retail; and auxiliaries to trade: banking, insurance, transportation, warehousing, communication, and advertising.
  9. Business risks - Meaning, nature and causes.
    10. Forms of Business organizations
  10. Sole Proprietorship- meaning, features, merits and limitations.
  11. Partnership- Features, types, merits and limitations of partnership and partners, registration of a partnership firm, partnership deed. Type of partners.
  12. Hindu Undivided Family Business: features.
  13. Cooperative Societies- features, types, merits and limitations.
    14. Company: private and public company -features, merits and limitations.
  14. Formation of a company- four stages, important document (MOA, AOA, relevances of certificate of incorporation and certificate of commencement.
  15. Starting a business - Basic factors.
    16. Public, Private and Global Enterprises
  16. Private sector and public sector enterprises
  17. Forms of public sector enterprises: features, merits and limitations of departmental undertakings, statutory corporation and Government Company
  18. Changing role of public sector enterprises
  19. Global enterprises, Joint ventures, Public Private Partnership - Features
    20. Business Services
  20. Banking: Types of bank accounts- savings, current, recurring, fixed deposit and multiple option deposit account.
  21. Banking services with particular reference to issue of bank draft, banker's cheque (pay order), RTGS (Real Time Gross Settlement) NEFT (National Electronic Funds Transfer), bank overdraft, cash credits and e- banking.
  22. Insurance: principles, concept of life, health, fire and marine insurance.
  23. Postal and telecom services: mail (UPC, registered post, parcel, speed post and courier) and other services.
    24. Emerging Modes of Business
  24. E-business - scope and benefits, resources required for successful e-business implementation, online transactions, payment mechanism, security and safety of business transactions.
  25. Detection and rectification of errors; preparation of suspense account.
  26. Outsourcing-concept, need and scope of BPO (business process outsourcing) and KPO (knowledge process outsourcing).
  27. Smart cards and ATM's meaning and utility
    28. Social Responsibility of Business and Business Ethics
  28. Concept of social responsibility
  29. Case for social responsibility
  30. Responsibility towards owners, investors, consumers, employees, government and community
  31. Environment protection and business

    32. FINANCE AND TRADE

    Sources of Business Finance
  32. Concept of business finance
    33. Owner's funds - equity shares, preference share, GDR, ADR, IDR and retained earnings.
  33. Borrowed funds: debentures and bonds, loan from financial institution, loans from commercial banks, public deposits, trade credit, ICD (inter corporate deposits)
    34. Small Business
  34. Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act)
  35. Role of small business in India with special reference to rural areas.
  36. Government schemes and agencies for small scale industries: (National Small Industries Corporation) and DIC (District Industrial Center) with special reference to rural, backward and hilly areas.

    37. Internal Trade

  37. Services rendered by a wholesaler and a retailer
  38. Types of retail -trade - Itinerant and small scale fixed shops
  39. Large scale retailers - Departmental stores, chain stores, mail order business
  40. Concept of automatic vending machine
  41. Chambers of Commerce and Industry: Basic functions
  42. Main documents used in internal trade: Performa invoice, invoice, debit note, credit note. LR (Lorry receipt) and RR (Railway Receipt)
  43. Terms of Trade: COD (Cash on Delivery) , FOB (Free on Board), CIF (Cost, Insurance and Freight), E&OE (Errors and Omissions Excepted)

    44. International Trade

  44. Meaning, difference between internal trade and external trade: Meaning and characteristics of international trade.
  45. Export Trade - Meaning, objective and procedure of Export Trade
  46. Import Trade - Meaning, objective and procedure: Meaning and functions of import trade; purpose and procedure
  47. Documents involved in International Trade; documents involved in export trade, indent, letter of credit, shipping order, shipping bills, mate's receipt, bill of lading, certificate of origin, consular invoice, documentary bill of exchange (DA/DP), specimen, importance
  48. World Trade Organization (WTO) meaning and objectives
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