This unit provides students with an understanding of the business, its environment and its influence on an organisation’s structure, the role of its accounting function and performance. Students will examine the purposes and types of businesses and key stakeholders’ rights and responsibilities. Students will learn about the micro- and macro-economic environments and the impact and influence of changes in these environments on performance and decisions. This will include an understanding of the basic business law relating to preparing financial statements for different types of entities. Students will learn about the concepts of risk, types of risk and risk management for a business.

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