To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.
Business organization: Meaning, Features, Types; Stakeholders in business organizations: Types of Stakeholders, Agency Relationship, Power & Influence of various stakeholder groups ; Political and legal factors affecting business: Effect of political system & Government Policy on Organizations, Legal Provisions for protection of employees, Principles of consumer protection;
Macroeconomic factors: Objectives of macroeconomic policy, impact of economic issues on the individual, the household and the business; impact of fiscal and monetary policy measures on the individual, the household and businesses;
Micro economic factors: Concept of Demand and Supply, Elasticity of Demand, Types of Markets; Social and demographic factors: Medium & Long Term effects on the business & economy; Technological factors: Downsizing, Delayering and Outsourcing; Environmental factors: Types & impact on business, benefits to stakeholders; Competitive factors: SWOT analysis, Porter’s Value Chain Model, Porter’s five forces mode.
The formal and informal business organization: Meaning and Interrelationship.
Business organizational structure and design: Concept and types, Advantages and disadvantages of Centralization and Decentralization
Organizational culture in business: Meaning and factors affecting organization culture. Committees in business organizations: Purpose, types and advantages& Disadvantages.
Governance and social responsibility in business: agency concept, corporate governance and social responsibility.
The relationship between accounting and other business functions, Accounting and finance functions within business organizations, Principles of law and regulation governing accounting and auditing.
The sources and purpose of internal and external financial information, provided by business
Leadership, management and supervision: meaning and distinction, schools of management thought, authority & Responsibility. Recruitment and selection of employees, Individual and group behavior in business organizations, Team formation, development and management, Motivating individuals and groups, Learning and training at work, Review and appraisal of individual performance.
Personal Effectiveness techniques; Consequences of ineffectiveness at work; Competence frameworks and personal development; Sources of conflicts and techniques for conflict Resolution and referral; Communicating in business.
Professional ethics in accounting and business
Fundamental principles of ethical behavior; The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession; Corporate codes of ethics; Ethical conflicts and dilemmas
Study material of ACCA Gupta, C. B., Business Organization, S.Chand, NewDelhi Weihrich, Heinz and Koontz, Harold, Essentials of Management, McGraw Hill, New York Mathew, M.J., Business Organization, RBSA Publishers, Jaipur
Drucker, Peter Ferdinand, Management Challenges for 21st Century, Harper Collins, USA. Luthans, Fred, Organization Behaviour, McGraw Hill, New York Allen, Louis A., Management and Organization, McGraw Hill, New York Ansoff, H., The New Corporate Strategy, Wiley. Hampton, David R., Modern Management, McGraw-Hill