Diploma of Business Enterprise Business Law WDB 1002 Assignment Semester 1 2016 Due date week… 1 answer below »

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:

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

· A detailed explanation of what is required and what is involved in this process.

· Details / estimates of the relative costs 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

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

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

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

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

Part B 5 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 C 3 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.

James does 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.

 

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