Business Products
Posted by Jesamine Barton in Sep, 2014
What are business products? A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase. For example a seller of a toothbrush […]
Category: BSBSMB402
Post Tagged with Rights of Businesses in Australia
Posted by Jesamine Barton in Sep, 2014
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What are the rights of businesses operating in Australia? In Australia you have certain rights/protections under the Australian Consumer Law and the Competition and Consumer Act 2010. As of January 1st 2011 every Australian business was given the same rights and responsibilities under the Australian consumer law. Under the ACL all businesses are expected to […]
Business Products
Posted by Telise Kelly in Sep, 2014
What are business products? Business products are goods and services sold to other businesses unlike retail products, which are sold to consumers. What are business products like? Business products are generally the raw materials used in the manufacture and or construction of a final product. For instance, high silica sand is a raw business product […]
Category: BSBSMB402
Legal Advice
Posted by Telise Kelly in Sep, 2014
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What is legal advice? There are as many forms of legal advice and there are areas of the law. Due the massive amounts of legislation enacted within our society. Legislation can be at International level, Commonwealth of Australia level, and State level delegated authorities given to various statutory and local councils. What is legal advice […]
Net Profit
Posted by Luke Jones in Sep, 2014
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What is Net Profit? Net profit is a measure of the profitability of a venture after accounting for all costs. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses. This number is an important measure of how profitable the company is over a […]
Business and Legal structures in Australia
Posted by Luke Jones in Sep, 2014
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What are business/legal structures in Australia? Business/legal structures in Australia are a way of classifying how the business is structured and operated. Each structure shows how the business is operated whether it is a sole trader, partnership, trust or a company. Each individual structure has its own unique structure and advantages and disadvantages of choosing […]
Category: BSBSMB401
Sole trader regulations in Australia
Posted by Melissa Ramsden in Jul, 2014
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What are sole traders? A sole trader is a simple business structure. Set up in an individual’s name, therefore it is that sole person who manages, operates and is the only person liable for all aspects of their business because in the eyes of the law you and the business are one. What are sole […]
Category: BSBSMB402
Net Profit
Posted by Melissa Ramsden in Jul, 2014
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What is net profit? Net Profit is a total of the amount of money earned or lost after subtracting all of the expenses from the Gross Profit. What is net profit like? Net profit is like an old car, at first it might not work but with hard work, determination, dedication and on going maintenance […]
Selling Price Markup
Posted by Emma Doolan in Jul, 2014
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What is the Selling Price Markup? Selling Price is the retail price (the amount you sell the product or service for). Where as the markup is the amount you add to the purchasing price to get your selling price (retail price) of your product. What is the Selling Price Markup like? The Selling Price Marketup […]
Category: BSBSMB402
Procurement Assessment
Posted by Emma Doolan in Jul, 2014
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What is a Procurement assessment? Procurement: Is an act of obtaining or buying goods or services. This includes the preparation and processing of demands as well as the end receipt and approval of payment. The process of procurement is often part of a company’s strategy because the ability to purchase certain materials will determine if […]
