Business Awareness Course - in Ajman

Business Awareness Course Outline

Guided Learning Hours: 70

Module 1: Understand Business Types, Structures and Governance, and the Legal Framework in Which They Operate

• Types of Businesses
  • Standard Organisation Types and Their Key Characteristics
  • Impact of Business Type on the Organisation’s Governance
  • Types of Funding Used by Businesses
  • Common Features of Business Organisations
  • Differences Between Manufacturing and Service Businesses
• Legal Framework for Companies and Partnerships
  • Key Elements of Companies Legislation
  • Key Elements of Unlimited Liability Partnerships
• Business Stakeholders’ Interactions and Needs
  • Different Business Stakeholders
  • Stakeholders’ Objectives and Requirements from the Business
  • Stakeholders’ Contributions to and Impact on the Business
  • Relative Significance of Stakeholders to the Business
• Organisational Structure and Governance
  • Organisational Structure
  • Importance of Governance in Different Organisation Types
  • Role of Operational, Managerial and Corporate/Strategic Levels within an Organisation
  • Role of the Finance Function in Contributing Towards the Operation of the Other Business Functions and the Organisation’s Plans and Decision Making
  • Concept of Risk and Risk Management

Module 2: Understand the Impact of the External and Internal Environment on Businesses, Their Performance and Decisions

• Use of the PESTLE Model for Analysing the External Environment
  • Use of PESTLE to Analyse the Impact of the Business’s Macro Environment
  • Political Factors Affecting a Business
  • Economic Factors Affecting a Business
  • Social Factors Affecting a Business
  • Technological Factors Affecting a Business
  • Legal Factors Affecting a Business
  • Environmental Factors Affecting a Business
  • Identify PESTLE Factors Affecting a Business
  • Recognise the Impact of PESTLE Factors on the Business
• Micro-Economic Environment
  • Concept of Supply and Demand
  • How Prices Are Determined by the Price Mechanism, Market Forces, and the Impact of Different Goods
  • Impact of Price Changes on Volumes, Revenues, Costs and Profitability
  • How the Levels of Competition in the Micro-Economic Environment are Influenced
• Importance of Sustainability
  • Meaning of Sustainability
  • Three Aspects of Sustainable Performance
  • Importance of Sustainability in Accounting

Module 3: Understand How Businesses and Accountants Comply with Principles of Professional Ethics

• Relevance of the Ethical Code for Professional Accountants
  • Principle of Integrity
  • Principle of Objectivity
  • Principle of Professional Behaviour
  • Principle of Professional Competence and Acting with Due Care
  • Identify Discrepancies That May be Found
  • Principle of Confidentiality
  • Professional Scepticism
  • Difference Between a Principles-Based Approach and a Rules-Based Approach
  • How Documented Organisational Policies Can Safeguard Against Threats and Ethical Conflicts
  • Types of Safeguard That May Be Applied
  • What an Accountant Should Do When a Threat Cannot Be Eliminated or Reduced to an Acceptable Level
  • Recognise Threats to Integrity in Financial Accounting
  • Recognise Threats to Objectivity
  • Recognise Professional Competence and Due Care Threats
  • Recognise Critical Areas Where Up-to-Date Technical Knowledge Is Essential and the Consequences of Not Maintaining CPD
  • Recognise When Confidential Information
  • Recognise Situations When Professional Scepticism Should Be Applied and the Action to Be Taken
  • Recognise Which Safeguards May Be Appropriate
• Ethical Conflicts and Reporting Unethical Behaviour
  • How Ethical Conflicts Arise
  • How to Determine Whether Behaviour Is Ethical or Unethical
  • Key Organisational Values and Compliance with Regulations
  • Stages in Resolving Ethical Conflicts When Applying Fundamental Principles
  • What Happens When a Course of Action Is Unethical
  • Link Between Lack of Professional Competence and Due Care and Claims for Breach of Contract and Professional Negligence
  • Requirement for Professional Indemnity Insurance
  • When and How to Report Unethical Behaviour to Responsible Persons at Work
• Money Laundering
  • Money Laundering Law and Regulations
  • Importance of Reporting Suspected Money Laundering in Accordance with Regulations

Module 4: Understand the Impact of New Technologies in Accounting and the Risks Associated with Data Security

• Technology
  • Impact of Emerging and Developing Technologies on Accounting Systems
  • How Technological Developments Have Increased Outsourcing and Offshoring, Which Has Impacted Business Development
  • Effect of Automation and AI in Accounting Systems on the Role of the Accountant and the Finance Function
  • Key Features of Cloud Accounting
  • Benefits and Limitations of Cloud Accounting for an Organisation
  • Make Entries in the Cash Book
• Data Protection, Information-Security and Cybersecurity
  • Principles of Data Protection
  • Impact of Data Protection Breaches on the Individual and Business
  • Importance of Maintaining Information Security
  • Importance of Cybersecurity to Address Cyber Risks
  • Risks to Data and Operations Posed by Cyberattacks

Module 5: Communicate Information to Stakeholders

• Information Requirements in a Business Organisation
  • Attributes of Good Quality Information
  • Type, Purpose, and Characteristics of Information at Operational, Managerial, and Strategic Levels
  • Characteristics of Big Data
  • Benefits and Limitations of the Use of Big Data
  • Sources of Internal and External Big Data
  • Need to Apply Professional Scepticism in Relation to Big Data
  • Use of Data Analytics from External Sources
• Visualising Information
  • Importance of Being Able to Visualise Information in Different Formats
  • Patterns or Significant Anomalies Within Data
  • Importance of Selecting Appropriate Data Visualisation for Communication
  • Accounting Software Uses Dashboards to Communicate with Non-Technical Stakeholders
  • Interpret Visual Information to Indicate Relationships and Trends
• Communicating Information
  • Principles Used to Determine the Appropriate Method of Communication to Use Both Internally and Externally by the Business
  • Characteristics of Professional Communication

Who Should Attend this Business Awareness Course?

The Business Awareness Course is suitable for individuals seeking to build foundational knowledge of business concepts and practices. It is particularly suitable for those aiming for roles such as:

• Business Graduates
• Accounting Graduates
• Aspiring Manager
• Entrepreneur
• Finance or Management Professional

Prerequisites of the Business Awareness Course

To take the Business Awareness Course, you need to complete the AAT Level 2 Certificate in Accounting.

Business Awareness Course Overview

The Business Awareness Course provides learners with essential knowledge of how organisations operate, compete, and achieve objectives in a dynamic environment. Developing business awareness is crucial for professionals who want to make informed decisions, recognise opportunities, and anticipate challenges in today’s competitive markets.

This course is particularly valuable for graduates, entrepreneurs, and professionals preparing for accounting or business qualifications. It equips delegates with an understanding of business structures, stakeholders, regulatory factors, markets, and the role of technology and globalisation.

This 70-hour training by The Knowledge Academy introduces key topics, including business objectives, organisational structures, market influences, economic frameworks, ethics, and the impact of external factors. Delegates will gain the skills to analyse business scenarios, apply commercial knowledge, and contribute to effective decision-making.

Business Awareness Course Objectives

By the end of this training, delegates will be able:

• To understand the role of businesses in society and the economy
• To explore organisational structures, governance, and stakeholder relationships
• To analyse markets and external influences on business performance
• To evaluate the impact of regulatory, economic, and technological factors
• To develop commercial awareness for effective decision-making
• To strengthen understanding of ethics, corporate responsibility, and globalisation

After completing this Business Awareness Course, delegates will receive a certificate showcasing their business knowledge. This recognition will support career progression in business, accounting, and management.

What’s Included in This Business Awareness Course?

• World-Class Training Sessions from Experienced Instructors
• Course Completion Certificate
• Digital Delegate Pack