COMMERCE FORM 4 SYLLABUS

Define taxation

Explain the purposes of taxation

Mention the principle of taxation

Identify types of taxation (direct and indirect)

Distinguish between the different systems of taxation

Define progressive, proportional and regressive taxation

Describe the advantages and disadvantages of Direct and indirect Tax

Define Insurance

Describe the historical development of Insurance

Discuss the need for insurance

Define “pooling of Risk”

Point out the basic terms applied in insurance

Mention the general principles of insurance

Explain the meaning of indemnity insurable interest, utmost good faith subrogation, doctrine of proximate cause

Identify types of insurance policies

Explain the procedures for taking insurance

Show how insurance companies make profit

Explain the term business units

Define the following business units: Sole trading; Partnership; Joint stock company; Public enterprise parastatals; Cooperative organization

Point out how each business units is formed and organized

Indicate the advantages and disadvantages of business units

Mention the importance of business units in commerce

Explain the meaning and importance of management

Discuss the historical evolution of management

Explain the following functions of management: Planning; Organization; Staffing; Direction; Control and Coordination

Explain the Sound Policy

Explain the Line of authority

Explain Simple, plain and elaborate organization

Explain the Unity – chain of command

Explain the Responsibility

Explain the Equity treatment

Explain the Measurement of effectiveness

Explain the Span of control