Industry-types: primary, secondary, tertiary- Meaning and subgroups Describe the various types of industries. Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning State the meaning of commerce, trade and auxiliaries to trade. Discuss the meaning of different types of trade and auxiliaries to trade. Examine the role of commerce- trade and auxiliaries to trade. Business risk-Concept Understand the concept of risk as a special characteristic of business. Examine the nature and causes of business risks. Unit 2: Forms of Business organizations 26 Periods Sole Proprietorship-Concept, merits and limitations. After going through this unit, the student/ learner would be able to: List the different forms of business organisations and understand their meaning. Identify and explain the concept, merits and limitations of Sole Proprietorship. Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners Identify and explain the concept, merits and limitations of a Partnership firm. Understand the types of partnership on the basis of duration and on the basis of liability. Define limited liability partnership. State the need for registration of a partnership firm. Discuss types of partners -active, sleeping, secret, nominal and partner by estoppel. Hindu Undivided Family Business: Concept Understand the concept of Hindu Undivided Family Business. Cooperative Societies-Concept, types, merits, and limitations. Identify and explain the concept, merits and limitations of Cooperative Societies. Understand the concept of consumers, producers, marketing, farmers, credit and housing co-operatives. Company-Concept, merits and limitations; Types: Private and Public-Concept Identify and explain the concept, merits and limitations of private and public companies. Distinguish between a private company and a public company. Formation of company-stages, important document (Memorandum of Association, Articles of Association, Certificate of incorporation and Certificate of commencement) Highlight the stages in the formation of a company. Discuss the important documents used in the formation of a company.
Customs clearance and Release of goods EXPORT PROCEDURE Receipt of Enquiry and Sending Quotations Receipt of Order or Indent Assessing Importer’s Credit worthiness and securing a guarantee for payments. Obtaining Export license Obtaining Pre shipment Finance Production or Procurement of Goods Pre shipment Inspection Excise Clearance Obtaining certificate of Origin Reservation of Shipping Space Packing and forwarding Insurance of Goods Customs Clearance Obtaining Mate’s Receipt Payment of Freight and issuance of Bill of Lading Preparation of Invoice and Securing Payment Documents used in Export Transactions Documents related to Goods Documents Related to Shipment Documents Related to Payment Export Invoice: It is issued by the exporter. It provides information like quantity of goods sent, total value of goods etc. Mate’s Receipt: It is issued by the commanding officer of the ship to the exporter after the cargo is loaded on the ship. It contains details like name of the vessel, berth, date of shipment, description of packages, marks and numbers etc. It is very important receipt as shipping company issues the bill of lading only after Letter of Credit: It is a guarantee issued by the importer’s Bank that it will honor payment up to a certain amount of export bills to the bank of the exporter.