BUSINESS AND TECHNOLOGY

The business organisation, its stakeholders and the external environment
• Business organization: Meaning, Features, Types;
• Stakeholders in business organisations: 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

Business organizational structure, functions and governance
• The formal and informal business organization: Meaning and interrelationship. Business organizational structure and design: Concept and types. Advantages and disadvantages of Centralization and Decentralization
• Organisational culture in business: Meaning and factors affecting organization culture. Committees in business organisations: Purpose, types and advantages & Disadvantages.
• Governance and social responsibility in business: agency concept, corporate governance and social responsibility

Accounting and reporting systems, controls and compliance, technology and security

• The relationship between accounting and other business functions, Accounting and finance functions within business organisations, Principles of law and regulation governing accounting and auditing.
• The sources and purpose of internal and external financial information provided by business, Financial systems, procedures and related IT applications.
• Internal controls, authorisation, security of data and compliance within business.
• Fraud and fraudulent behaviour and their prevention in business, including money laundering.
• The application and impact of Financial Technology (FinTech) in accountancy and audit.

Leading and managing individuals and teams
• Leadership, management and supervision: Meaning and distinction, schools of management thought, authority & responsibility. Recruitment and selection of employees.
• Individual and group behavior in business organisations, Team formation, development and management, Motivating individuals and groups,
• Learning and training at work, Review and appraisal of individual performance

Personal effectiveness and communication and Professional ethics in accounting and business

• 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.
• Fundamental principles of ethical behavior, Role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession;
• Corporate codes of ethics; Ethical conflicts and dilemmas.