Diploma of Business Enterprise

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Diploma of Business
Enterprise

Business Law WDB 1002 Assignment Semester 1 2016

Due date week beginning 04/04/2016

This Assignment represents 20% of the total assessment
in the subject

Working in pairs you are required to write a simple report of 2000 words(plus / minus 10%) as follows,
and using only the Harvard Author Date system of referencing, to acknowledge all
sources of information used. Please be aware of penalties for Plagiarism. Information regarding Harvard Referencing is
available on the following webpage:
.vu.edu.au/library/referencing/files/final%20HarvardGuide%202010.pdf”>http://w2.vu.edu.au/library/referencing/files/final%20HarvardGuide%202010.pdf

Marks will be deducted for poor expression,
spelling and grammar, and for poor or inappropriate referencing.

Part A 12 Marks

James is an
accounting graduate who wishes to establish his own Accounting Business.He is
aware that you are studying Business Law, and asks for your assistance with a
number of issues.

You are to
advise James of the three (3) major options available to him concerning the
starting and running of his business: sole trade / partnerships and Company
issues. You must advise using:

·
A detailed analysed list of the
advantages and disadvantages of the relevant business structures you think are
applicable to James. Do NOT just list the advantages and disadvantages of each
structure. Explain why there are advantages and disadvantages of the various
structures.
·
An overview of the process
required by James in order for him to be well informed and make the necessary
decisions to set up a business of most
benefit to him.

Advice must include the following details:

·
A description of the legal
processes involved in each of the three options
·
Adetailed explanation of what
is required and what is involved in
this process.
·
Details / estimates of the
relativecosts that will be incurred.
·
A detailed discussion of the
reasoning behind the legislation, which must
include an analysis that relates to the various aspects of the three
entities.

NOTE: this area
of the task is worth 12 of the 20 marks, so, it will require the most words and
explanation.

A starting point
might be Business Name and ABN registration. This is required for all three
options.

Some Websites which might be of assistance are

.business.vic.gov.au/operating-a-business/how-to-start/business-structures”>http://www.business.vic.gov.au/operating-a-business/how-to-start/business-structures

.asic.gov.au/business-names”>http://www.asic.gov.au/business-names

.asic.gov.au/asic/asic.nsf/byheadline/Australian+Business+Number”>http://www.asic.gov.au/asic/asic.nsf/byheadline/Australian+Business+Number

.ato.gov.au/Business/Starting-and-running-your-small-business/In-detail/Getting-started/Checklist-for-people-starting-a-new-business/”>http://www.ato.gov.au/Business/Starting-and-running-your-small-business/In-detail/Getting-started/Checklist-for-people-starting-a-new-business/

Part B5 Marks

After successfully
trading for six months, James has been approached by Fred Friend, who lives in
Warrnambool, in country Victoria, and who wants to open an accounting business on
James’ behalf. James seeks your advice
in relation to this matter, and you must advise him specifically about the
following matters:

·
The legal issues of having an
agent (Fred) act on his(James’) behalf.
·
James’
responsibilities and duties as the principal.
·
The duties and responsibilities
of the agent (Fred).

Part C3 Marks

Whilst trading,James has five clients who
have not paid their bills. Each account / client owes James less than $3000.
James has also received some complaints from customers about the service being provide
by Fred Friend, in Warrnambool.

Jamesdoes not want to go to Court, to get
his money, OR deal with the complaints, and asks you if there might be any
alternatives to the costly and time consuming Court process.

Advise James as to any options you feel
appropriate to facilitate this, and assist James.