This unit provides students with an understanding of the business, its environment and the influence that this has on an organisation’s structure, the role of its accounting function and its performance. Students will examine the purposes and types of businesses that exist and the rights and responsibilities of key stakeholders. Students will learn what the micro- and macro-economic environments are and the impact and influence that changes in these environments can have on performance and decisions. This will include an understanding of the basic business law relating to the preparation of 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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