apply legal requirements & manage small business finances
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Cert IV - M. S. Martin January 2012
Apply Legal Requirements & Manage Small Business Finances
Lesson 1Introduction
Cert IV - M. S. Martin January 2012
Todays Lesson
• Course Overview• Relevant Licencing or Registration Legislation• Classifications for Builders, Supervisors and
Managers• Introduction to Law and the Australian Legal
System• Introduction to Small Business Finance and
financial plans
Cert IV - M. S. Martin January 2012
Cert IV - M. S. Martin January 2012
8:00am 10:30am
3:30pm 5:00pm
5:30pm 8:30pm
8:00am 4:00pm8:00am 4:00pm
8:00am 4:00pm8:00am 4:00pm
8:00am 4:00pm Plan Building for Construction Work8:00am 4:00pm Plan Building for Construction Work8:00am 4:00pm Plan Building for Construction Work8:00am 4:00pm
Semester Two
Semester One - Term 1 & 2 - 2012
Time
Break
Break
3:15pm
Mirko Naidofski
Nick PrestonWednesday Night
Teacher
Mark HawkinsApply Struct. Principles to residential low rise
(wholistic) Apply Legal Requirements to Building Projects and Manage Finances
1:30pm
TBATBA TBA
TBA
Student Timetable FLEX Certificate IV
Note: TBA = To be Advised
Build Thermally Effi cient and Sustainable Structures
John Freedman
Word Processing / Spread Sheets
TBA
Apply site Survey & set out proceedures Mirko NaidofskiField DayField Day
TBARoomTBA
At Home
At Home
TBAPlan Building for Construction Work
B211
A211
RoomB232B232
B232
Plan Building for Construction WorkPlusDrop in classes to
finish
On-Line (Parrallel Study)
Read and Interporate Plans (complete) Mike MartinSelect Procure and store materials to
low rise (start only)Mike Martin
Apply site Survey & set out proceedures
11:00am 1:00pm Mike Martin
Room
B232
B232
Friday Day
April holidays 1 (Friday - 13.4.12 & 20.4.12)Time Teacher
Apply site Survey & set out proceedures Mirko Naidofski
Mike Martin(wholistic) resolve business disputes and select and prepare a construction
contractBreak
Saturdays (TBA)
Time Teacher
Apply site Survey & set out proceedures Mirko NaidofskiTerm 2 - Semester 1
July holidays 2
Teacher
Cert IV - M. S. Martin January 2012
Assessment Documents and Text• Look at the “elements” (what you
will be learning)• You will be assessed by simulated
or project based assessments– Legal: 2 x in class / take home case
study written assessments based on relevant legal documents, OHS act, Home Building Act, etc
– Legal: 1 x final written exam (standard type written test)
– Finance: 2 x in class / take home assignments, of compiling relevant business documents, bookeeping, cash flow etc
– Finance: 1 x final written exam (standard type written test)
Cert IV - M. S. Martin January 2012
Lesson 1 - Legal
Cert IV - M. S. Martin January 2012
This subject and the law• This subject focuses on finding the legal requirements and understanding the
requirements.• This subject will help you learn how to find relevant law and how to
understand the law relevant to running a building business or working for a construction company dealing with . The areas covered include:
• Australian legal system• Builders registration and licensing• Business registration• Occupational health and safety• Financial transactions• Contracts• Insurances• Industrial relations and awards• Dispute resolutions
Cert IV - M. S. Martin January 2012
Legislative Documents
• Home Building Act 1989• This is the law that regulates residential
building work in NSW. Residential building work is building or trade work on single dwellings, villas, houses and home units.
• The other main document is ?:• Home Building Regulation 2004
Cert IV - M. S. Martin January 2012
For Licencing and Registration Legislative and Application
DocumentsThe following will help you for
reference
Cert IV - M. S. Martin January 2012
NSW Office of Fair Trading
http://www.fairtrading.nsw.gov.au/default.html
Cert IV - M. S. Martin January 2012
NSW BLIS - Business Licencing Information Service
http://blis.fairtrading.nsw.gov.au/?DCSext.ref=HomePageClick:Onlineservices
Cert IV - M. S. Martin January 2012
Building and Trade Licence Classes
BricklayingBuildingBuilding consultancyCarpentryDecoratingDemolishingDry plasteringErection of prefabricated metal-framed home additions and structures
ExcavatingFencingFlooringGeneral concretingGlazingInstallation of security doors, grilles and equipment
Joinery
Kitchen, bathroom and laundry renovationMechanical servicesMetal fabricationMinor maintenance/cleaningMinor tradework PaintingRoof plumbingRoof slatingRoof tilingStonemasonryStructural landscapingSwimming pool buildingSwimming pool repairs and servicingUnderpinning/pieringWall and floor tilingWaterproofingWet plastering
Cert IV - M. S. Martin January 2012
The Licencing Process
As described by OFT
Cert IV - M. S. Martin January 2012
Cert IV - M. S. Martin January 2012
Introduction to Law
In your notes / text, this will be from chapter 1
(these notes were compiled by Sydney Institute, Gymea Campus)
Cert IV - M. S. Martin January 2012
What is it ?
• Law defines the “Rights” and “responsibilities” we have as individuals and companies.
• If broken, we suffer consequences• Its not always simple to understand• To understand the law that applies to a given situation we
have to look in a number of locations at different documents and sources of advice.
• Different sources of law for the builder could include – one or a number of ‘Acts’ created by Commonwealth, State or
Territory Parliaments, as well as – Any Regulations (detailed rules) made under that Act.
Cert IV - M. S. Martin January 2012
Common Law
• You might also have to consider laws called ‘common law’ which aren’t written down in an Act but have evolved through time.
• Laws that may not be written in an Act include: – ‘murder’ for example, or – the right to ‘sue’ if a person has suffered a
financial ‘loss’ caused by someone they should have been able to rely on.
Cert IV - M. S. Martin January 2012
Language Literacy and Numeracy Assistance
NOTE:• This subject does require the ability to
research, access and interpret complex documents and it requires good written communications skills to demonstrate knowledge. If you feel you may have difficulty in these two areas particularly,
• please contact ABE (Adult Basic Education unit) on campus for advice
Cert IV - M. S. Martin January 2012
A General Note On The Use Of Websites
• Finding information on the internet does sometimes involve really searching to find relevant material and coming from different angles
• you might have to think of a few different words, or different topics, or try different organisation’s websites
• The internet searches you need to do for this subject are of two types: general searches using search engines like Google for example; and going to specific web links we provide.– See there is more detailed information explaining this in your
notes
Cert IV - M. S. Martin January 2012
Lesson 1 - Small Business Finance
Cert IV - M. S. Martin January 2012
What is it ?
Cert IV - M. S. Martin January 2012
It’s the Law
• The most important reason for keeping good records is that it’s a legal requirement. By law, you must keep business records:
• for five years after they are prepared, obtained or the transactions completed, whichever occurs latest
• They must be in English or in a form that the ATO can access and understand in order to work out the amount of tax you are liable to pay.
• You will have to keep records for longer if you use information from those records in a later tax return – for example, if you claim a loss carried forward from a business activity in an earlier year.
Cert IV - M. S. Martin January 2012
Keeping Business Records
• So what type of questions can they answer for you and your business ?
• These records are essential because they can answer such important questions as:
• Am I making or losing money from my business? • How much am I worth? • Should I put more money in my business or sell it
and go into another business? • How much is owed to me, and how much do I owe? • How can I change the way I operate to make more
profit?
Cert IV - M. S. Martin January 2012
Accounting or Bookkeeping for a Business
• A Business uses Accounting or Bookkeeping to measure its financial performance
• It does it by classifying (or naming) all the businesses transactions like sales, purchases, assets, and liabilities, etc.
• Which has to be kept in a certain accepted format, that adheres to the ATO requirements
• It also helps to: – evaluate past performance – Look at present circumstances and – Project future prospects.
Cert IV - M. S. Martin January 2012
In General, What is Accounting ?
• It could be deemed as ‘Accounting’, ‘Record Keeping’ or ‘Bookkeeping’
• Its function is to:– Firstly Record – Secondly Classify – Then Summarise– Lastly report & evaluate the financial activities of a
business
Cert IV - M. S. Martin January 2012
Simple Cash Flow (ATO example)
Cert IV - M. S. Martin January 2012
References
• Competency text for ‘Apply Legal Requirements & Manage Small Business Finances’
• Websites as listed below: http://www.fairtrading.nsw.gov.au/default.htmlhttp://www.ato.gov.au/businesses/http://blis.fairtrading.nsw.gov.au/?DCSext.ref=HomePageClick:Onlineserviceshttp://www.dummies.com/how-to/content/basic-bookkeeping-for-your-small-business.navId-410637.htmlhttp://www.toolkit.com/small_business_guide/sbg.aspx?nid=P06_4001
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