SAC Edrolo 4 Flashcards
(20 cards)
Registering a Business name
Through the ASIC, you don’t need to register a business name as long as it is your name.
Registering a domain name
Businesses should register through AUDA. Cost between $10-$100
Trade practices legislation
A federal law implemented but the Australian government for all business to comply with. Such as unfair market practices, price monitoring, product safety
and industry code of practices.
Work safe insurance
Provides workcover to all Australian workers.
Bank accounts
all bank accounts must be kept apart to keep record of all transactions.
Financial control systems
All businesses must keep a record of the income of money and spendings of money to provide proof to banks and other government requirements.
Why choose good suppliers
Timelessness Quality Competitiveness Reliability Location
Socially responsible suppliers
costly
Policies and Procedures
A policies id s written guideline of how you are expected to behave
A procedure is a series of steps you must follow in order to enforce the policy.
Policies and Procedures in a Business
Customer Service, Lateness/absences, mobile phone use
Customer Data Base
a collection of information from customers.
Globalisation
interchange of the world views, products, ideas and other aspects of culture.
Cash Books
Are manual or electronic books where all cash transactions within a business are recorded
Business tax + compliance
all business need to pay tax and can vary depending on the business type.
Business compliance is where a business meets tax obligations.
Customer Database advantages + disadvantages
Advantages - Helps businesses decide what to sell and what customers want
Disadvantage - Can be time consuming
Overseas suppliers advantage + disadvantages
Advantage - wider range of suppliers to choose from
Disadvantage - time consuming to maintain relationships with suppliers
Overseas retailers
Individuals/ businesses who sell g/s directly yo customers overseas
Free trade
being able to buy and sell g/s internationally with minimal government restrictions
Policies with the law
OHS, Bullying, food handling, equal opportunity
unfair market practices
pyramid scams
