Apply Legal Requirements & Manage Small Business Finances Lesson 3 Cert IV - M. S. Martin January 2012

Todays Lesson Applied key legal terms in an act Policy and the Law Local acts and council Cert IV - M. S. Martin January 2012

Lesson 3 - Legal Cert IV - M. S. Martin January 2012

Key terms – Powers or Rights Continues chapter 2, forth page An example for a power might be the power of a Building Surveyor to enter the site and inspect footings. Think of any others ? Cert IV - M. S. Martin January 2012

Key terms – Duties or Responsibilities An example of a duty, might be the duty a Building Surveyor owes to the consumer to ensure that the house they are having built is compliant with the Building Code of Australia. What is another example of a builders duty ? Cert IV - M. S. Martin January 2012

Policy and the Law Names can vary, but policy documents describe ways the government would like builders and others to do things. Can be referred to in Acts and are clearly part of the Law. Councils are a good source, they have to be aware of state law and policy Often council web sites will have links to acts or regulations associated with a policy (e.g.) ple/Building_and_development/index.aspx ple/Building_and_development/index.aspx Cert IV - M. S. Martin January 2012

Builders Licencing This is covered in Chapter 3 of your text We looked at the different classifications for licences, and the process map in week 1 On the second page of the chapter there is a link provided this doesnt appear to be operational, sohttp:// If we look at the questions in lieu of on next slide Cert IV - M. S. Martin January 2012

Questions The licensing Authority in our State is ? The NSW Office of Fair Trading, and the link for licensing is: /Home_building_licensing.html /Home_building_licensing.html As for what it does? The office has other roles as well, but for building, it provides both information and support, for licensing, insurance, and professional development. As well as being the department for licence application and processing. Cert IV - M. S. Martin January 2012

Activity Two locate the names of all the Acts administered by the licensing authority or relevant to it. From the OFT home page, its basically 3 clicks to this link Legislation/List_of_legislation.html Legislation/List_of_legislation.html The whole list is long, Ive summarised it in part on the next two slides Cert IV - M. S. Martin January 2012

OFT Legislative documents The list below shows you the range of laws NSW Fair Trading administers. Accessing any of these Acts will remove you from our website and take you to a database of all NSW's Legislation. The NSW Parliamentary Counsel's Office (PCO) operates this database and is responsible for the accuracy and currency of the information it contains. Then it goes on to be aware of changes..... Cert IV - M. S. Martin January 2012

Oft legislative documents Legislation administered by Fair Trading Associations Incorporation Act 2009 Associations Incorporation Regulation 2010 Business Names Act 2002 Business Names Regulation 2004 Community Land Management Act 1989 Community Land Management Regulation 2007 Consumer Claims Act 1998 Consumer Claims Regulation 2007 Consumer, Trader and Tenancy Tribunal Act 2001 Consumer, Trader and Tenancy Tribunal Regulation 2009 Contracts Review Act 1980 Conveyancers Licensing Act 2003 Conveyancers Licensing Regulation 2006 Co-operatives Act 1992 Co-operatives Regulation 2005 Credit (Commonwealth Powers) Act 2010 Electricity (Consumer Safety) Act 2004 Electricity (Consumer Safety) Regulation 2006 Fair Trading Act 1987 Fair Trading Regulation 2007 Associations Incorporation Act 2009 Associations Incorporation Regulation 2010 Business Names Act 2002 Business Names Regulation 2004 Community Land Management Act 1989 Community Land Management Regulation 2007 Consumer Claims Act 1998 Consumer Claims Regulation 2007 Consumer, Trader and Tenancy Tribunal Act 2001 Consumer, Trader and Tenancy Tribunal Regulation 2009 Contracts Review Act 1980 Conveyancers Licensing Act 2003 Conveyancers Licensing Regulation 2006 Co-operatives Act 1992 Co-operatives Regulation 2005 Credit (Commonwealth Powers) Act 2010 Electricity (Consumer Safety) Act 2004 Electricity (Consumer Safety) Regulation 2006 Fair Trading Act 1987 Fair Trading Regulation 2007 And the list goes on As an exercise, have a Cert IV - M. S. Martin January 2012

Take Home Assessment One Well begin this exercise now, You will complete it at home and hand in on the 16 th March 2012 Cert IV - M. S. Martin January 2012

Report – item 1 The specification stated Terra Cotta roof tiles with sarking but the builder has used concrete tiles with no sarking underneath the tiles Cert IV - M. S. Martin January 2012

To Find An Act or Regulation To find a specific act or regulation go to Cert IV - M. S. Martin January 2012

What is out of view: HOME BUILDING ACT 1989 PART 2 - REGULATION OF RESIDENTIAL BUILDING WORK AND SPECIALIST WORKRESIDENTIAL BUILDING WORKSPECIALIST WORK Division 2 - Restrictions on who may do certain work 2C

Cert IV - M. S. Martin January 2012

Report – item 2 Some of the doors on the house are severely damaged and appear old and in your opinion are second hand, having been reclaimed from a previous project. Cert IV - M. S. Martin January 2012

Lesson 3 - Small Business Finance Cert IV - M. S. Martin January 2012

Single & Double Entry Bookkeeping Single: similar to a checking (cheque) account register but allocates the income and expenses to various income and expense accounts. Separate account records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory and travel expenses. Cert IV - M. S. Martin January 2012

Single & Double Entry Bookkeeping Double Entry: A business transaction and record involving an exchange between two accounts. In a double entry system, two entries are made for each transaction, one entry as a debt in one account and one entry as a credit in another account. This double entry creates a balance in the system. View the handout for a full breakup Then well view the excel spreadsheet Cert IV - M. S. Martin January 2012

References Competency reference text for Apply Legal Requirements & Manage Small Business Finances Web sites as listed below: gle-entry/ gle-entry/ Cert IV - M. S. Martin January 2012