6. Political and legal factors Flashcards Preview

ACCA: Accountant in Business > 6. Political and legal factors > Flashcards

Flashcards in 6. Political and legal factors Deck (15)
Loading flashcards...
1
Q

what is PEST analysis?

A

analysis of political, economic, social and technological factors that influence a business.

2
Q

what is a political system? (3)

A
  • set of groups
  • relationship between them
  • rules and norms that govern their functions.
3
Q

what are the three levels of organisations? give examples

A

Global: WTO
National: government
Local: local government

4
Q

what are the three levels of legal authority? give examples.

A

supranational: UN, international courts of justice
national: Act of Parliament, Supreme Court
regional: local councils, regional assemblies (Welsh Assembly)

5
Q

In which two ways can government affect a business?

what are the four main areas within legislation?

A

government policy and direct legislation.

  • employee protection
  • consumer protection
  • data protection
  • health and safety
6
Q

under the Employment Rights Act in the UK, an employee must have been dismissed for one of the following reasons (4)

A
  • lacked capability for the job
  • guilty of misconduct
  • job was redundant
  • dismissed for legal reasons
7
Q

in terms of redundancy, employees have the right to? (4)

A
  • consultation
  • a fair notice period
  • redundancy pay
  • redundancy selection to be carried out fairly..
8
Q

what is data protection?

A

concerned with protecting individuals against the misuses of their information.

9
Q

which piece of legislation governs data protection? when was it implemented? by who was it implemented?

A

General Data Protection Regulation (GDPR) - 2018 EU law

10
Q

what are the components of the GDPR? (8)

A

data should be

  • used fairly
  • used with purpose
  • used only when necessary
  • kept only for as long as necessary
  • be accurate
  • handled securely
  • not transferred outside EEA with poor security
  • used responsibly
11
Q

what are an employers responsibilities in relation to health and safety? (6)

A
  • provide a safe work environment
  • prevent risks to health
  • ensure plant and machinery is safe
  • inform staff of hazards
  • provide adequate first aid
  • set up emergency plans
12
Q

what are an employees responsibilities in relation to health and safety? (5)

A
  • take reasonable care of themselves
  • not put others at risk
  • co-operate with their employer
  • report any injuries
  • inform employer if anything affects their ability to work safely.
13
Q

what are the main features of the Consumer Rights Act 2015? (4)

A
  • seller must own items they sell
  • good must be satisfactory quality and fit for purpose
  • item must correspond with the description
  • digital content: clear right to repair or replacement
14
Q

what are the main features of the Consumer Rights Act in relation to services? (3)

A
  • carried out with reasonable skill and care
  • completed timely
  • reasonable price
15
Q

what is a contract? what are the features of a contract? (4)

A

legally binding agreement between two or more parties.

  • agreement
  • consideration
  • intention to create legal relations
  • capability and legality