Business Environment and Concepts

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Financial Management.

Information Technology (IT) Implications in the Business Environment

Economic Concepts Essential to obtaining an understanding of an Entity's Business and Industry.

Business Structure

Planning and Measurement

Name of Course	Scheduled Dates	Vanue	Registration Link
Business Environment and Concepts new	To be determined	Baghdad, Iraq	Registration Now
Business Environment and Concepts new	To be determined	Jeddah, Suadi Arabia	Registration Now
Business Environment and Concepts new	To be determined	Chennai, India	Registration Now
Business Environment and Concepts new	To be determined	Dubai, UAE (Weekends)	Registration Now
Business Environment and Concepts new	To be determined	Abu Dhabi, UAE (Weekends)	Registration Now
Business Environment and Concepts new	To be determined	Kuwait City, Kuwait	Registration Now
Business Environment and Concepts new	To be determined	Beirut, Lebanon	Registration Now
Business Environment and Concepts new	To be determined	Riyadh, Saudi Arabia	Registration Now
Business Environment and Concepts new	To be determined	Muscat, Oman	Registration Now
Business Environment and Concepts new	To be determined	Tehran, Iran	Registration Now
Business Environment and Concepts new	To be determined	Abu Dhabi, UAE	Registration Now
Business Environment and Concepts new	To be determined	Cairo, Egypt	Registration Now
Business Environment and Concepts new	To be determined	Manama, Bahrain	Registration Now

Introduction

Understanding the environment within which the business has to operate is very important for running a business unit successfully at any place. Because, the environmental factors influence almost every aspect of business, be it its nature, its location, the prices of products, the distribution system, or the personnel policies. Hence it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects etc. In this chapter, we shall learn about the concept of business environment, its nature and significance and the various components of the environment. In addition, we shall also acquaint ourselves with the concept of social responsibility of business and business ethics.

Course Objectives

After studying this lesson, you will be able to:

Explain the meaning of business environment;
Identify the features of business environment;
Describe the importance and types of business environment;
Describe the recent developments in Indian Economy that have greatly influenced the working of business units in India;
Explain the concept of social responsibility of business;
State the social responsibility of business towards different interest groups; and
Explain the concept of business ethics.

Duration & Learning Level

Learning Level:

Intermediate

Duration:

5 days

Business Environment and Concepts

BUSINESS STRUCTURE

Advantages, implications, and constraints of legal structures for business
Sole proprietorships and general and limited partnerships
Limited liability companies (LLC), limited liability partnerships (LLP), and joint ventures
Subchapter C and subchapter S corporations
Formation, operation, and termination of businesses
Financial structure, capitalization, profit and loss allocation, and distributions
Rights, duties, legal obligations, and authority of owners and management (directors, officers, stockholders, partners, and other owners)

II. ECONOMIC CONCEPTS ESSENTIAL TO OBTAINING AN UNDERSTANDING OF AN ENTITY’S BUSINESS AND INDUSTRY

Business cycles and reasons for business fluctuations
Economic measures and reasons for changes in the economy, such as inflation, deflation and interest rate changes
Market influences on business strategies, including selling, supply chain, and customer management strategies
Implications to business of dealings in foreign currencies, hedging and exchange rate fluctuations

III. FINANCIAL MANAGEMENT

Financial modeling, including factors such as financial indexes, taxes and opportunity costs, and models such as economic value added, cash flow, net present value, discounted payback, and internal rate of return
Strategies for short-term and long-term financing options, including cost of capital and derivatives
Financial statement and business implications of liquid asset management
Management of cash and cash equivalents, accounts receivable, accounts payable, and inventories.
Characteristics and financial statement and business implications of loan rates (fixed vs. variable)and loan covenants

IV. INFORMATION TECHNOLOGY (IT) IMPLICATIONS IN THE BUSINESS ENVIRONMENT

Role of business information systems
Reporting concepts and systems
Transaction processing systems
Management reporting systems
Roles and responsibilities within the IT function
Roles and responsibilities of database/network/Web administrators, computer operators, librarians, systems programmers and applications programmers
Appropriate segregation of duties
IT Fundamentals
Disaster recovery and business continuity, including data backup and data recovery procedures, alternate processing facilities (hot sites), and threats and risk management
Financial statement and business implications of electronic commerce, including electronic fund transfers, point of sale transactions, internet-based transactions and electronic data interchange

V. PLANNING AND MEASUREMENT

Planning and budgeting
Planning techniques, including strategic and operational planning
Forecasting and projection techniques
Budgeting and budget variance analysis
Performance measures
Organizational performance measures, including financial and nonfinancial scorecards
Benchmarking, including quality control principles, best practices, and benchmarking techniques
Cost measurement
Cost measurement concepts (standard, joint product, and by-product costing)
Accumulating and assigning costs (job order, process, and activity-based costing)
Factors affecting production costs

Exam & Certificate

The CPA exam is a computer-based test (CBT). There are four sections: Auditing & Attestation (AUD), Financial Accounting & Reporting (FAR), Regulation (REG), and Business Environment & Concepts (BEC). Each section includes sets of multiple-choice questions (testlets). In addition, all sections, except the newest section, Business Environment and Concepts, contain a new case study component called “simulations.” Simulations provide a set of facts and require candidates to complete related tasks and access authoritative literature.

Target Group

Auditors
Accounting Executives
Finance Managers
Managers
Account Managers

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