Chapter 9 - Household and Business Management - Insurance and Taxation
This chapter is divided into two parts - Insurance and Taxation
Learning Intentions (Insurance)
Success Criteria
1. Define and Explain Risk Management
2. Define key words
3. Explain and apply different principals of Insurance
4. Identify and explain the different types of Insurance for a household and business
5. The importance of insurance for a business
6. Compare the similarities and differences of household and business insurance
Learning Intentions (Taxation)
Success Criteria
1. Identify the different types of tax
2. Outline the different types of tax that are paid by households
3. Describe the implications of taxation for business
4. Understand the different types of Tax forms
5. Calculate the take home pay of an employee
6. Compare the similarities and differences of household and business insurance
Syllabus
This section links with the syllabus under the following sections
4.5.1 - Outline the difference between managing a household and managing a business
4.5.2 - Explain the importance of finance, insurance and tax implication for business
4.5.3 - Identify activities common to managing a business and a household, including completion of relevant forms
4.5.4 - Understand the similarities and difference between these activities in a household context and in business context