All Leaving Cert Business posts
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    Key Topics for 2015 Leaving Certificate Business Examination all areas of Paper M Monahan

    This should assist with checklist of important elements for 2015 Paper:

    ABQ – Units 2, 3 & 4 Look at LC 2005 especially & 2010, could be asked to do a Report in ABQ.

    - Characteristics of Entrepreneurs – Control, Self-confident, Decisive, Creative/Innovated, Energetic.

    - Enterprising skills – Planning/Goal setting, Assessing risk/decision making, Time management, HR,

    Innovation, Reality perception, Inner control.

    - Leadership styles, effect on the organisation and staff (link to Motivational theory Maslow, X&Y).

    - Management Activities – POC (Planning, Organising & Controlling.

    - Management Skills - LMC Leading, Motivating and Communications.

    - Know Report Layout, Letter Layout, Memo, Agenda layout. The Business exam is very practical this year.

    VIP Know the Business Plan – Layout (5 Headings) Look up LC Q.6 – 2006 full & Q.5 (C) 2005

    1, Description of Business – Name of Company etc.

    2. Organisation and Management – Management team, qualifications experience etc …..

    3. Marketing and Marketing Strategies – Target market, Market research, 4P’s…….

    4. Manufacturing Operations and Premises – Manufacturing process, premises, Q.C…..

    5. Financial Analysis and Investment proposal, Finance requirements, Finance available…..

    Signed:………… Owner of the Business

    What are the benefits for an enterprise preparing a Business Plan?

    Insurance - Short Question: Average Clause, know how to calculate it!

    Value Insured (What you insured it for) x Loss

    Value of House (Actual Value)

    The average clause state that if a partial loss is suffered and the property is under insured, then only a proportion of the amount insured will be paid.

    Long Questions – State, Explain and give Examples to show your understanding of the topic!

    - Relationships of Stakeholders in Business Q.1 2005 (use examples).

    - Law of contracts, termination of a contract and redress.

    - Communication – Effective communication, why is it important for a business?

    - Does the style of Management effect the employment motivation?

    - What are the strategies for managing change in a business?

    - Reasons why a Business Enterprise might change its organisational structure?

    - Ratio Analysis, know all ratios either comes up as a short or long question in examination.

    Calculate on the Issued Share Capital (given to Shareholders not the Authorised Share

    Capital.

    - Why would shareholders use profitability ratios when making a decision about the business? - Why would a business need to prepare Ratios for a business? Discuss the different forms of finance, benefits and drawbacks of each form. 3 Ratios: 1. Profitability: ROI, Gross & Net Profit Margin.

    2. Liquidity: CA:CL (2:1) & Acid Test (Quick) CA-Stock : CL (1:1).

    3. Debt/Equity (Gearing): Long term Debt : Equity (Ordinary Issued Share Capital &

    Reserves/Retained earnings). Comment on findings! Quote findings, numbers!!

    - Break Even Analysis – Q.7 2011, Q. 7 2008 and & Q.6 2005.

    BE Point => Fixed Cost / CPU (Sales – Variable Costs). What happens if the Sales figure changes? Variable Costs increase? Shift in BE Point!!

    - Cash flow Forecast – Q.6 (B) 2007 Full Question, Q. 6 (C) 2009 Full Question & Q.5 (C) 2013 theory part question. Note need to be able to analyse the Cash flow, look at the type of business, this could determine the net cash figure which is the important figure! Have to interpret accounts only! State figures.

    - Community Development & Business Ethics CSR – Q.2 (C) 2012.

    - What are the effects of meeting Ethical, Social and Environmental Responsibilities on a firms’ revenue and costs?

    - Direct Foreign Investments Benefits to Ireland.

    - Advantages and Disadvantages of Transnational Companies in Ireland.

    - Reasons for Expansion? How would the business finance the expansion?

    - Importance of Business Expansion – Why is EU important for Ireland?

    - TQM – Total Quality Management, how does it benefit the business and affect its performance?

    - What are the benefits of empowerment for a business? How does it affect employee motivation?

    - Wages and Wages Calculation, remember USC on Gross Wages (include BIK) especially know the forms P12A, Tax Credit, P21.

    - Marketing Question look at 2006 Q.7 – Excellent to practice Report Layout, Stages in development of a new Product/Service, Packaging, Branding, Product Life Cycle and Channel of Distribution.

    - Business Plan Question 6 – 2006, excellent to practice 5 headings of business plan and cover business expansion area.

    Note: Use Studyclix exam builder to group topic areas together, this will allow you to practice questions from the examination papers and have model sample answers as a bonus!! Good Luck with your exams!!

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      M Monahan

      Just forgot to add, 3 minutes for short questions, 23 minutes for long questions (4 in total) and leave ABQ (Units 1, 2 & 3) till last as you need more time to link "xxx" Case Study material with Questions asked. Read Questions, underline what is asked and read again.

      Best of Luck, Business is a great subject!

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      M Monahan

      Just to make it easier to print off all of the above on one page, attached is a word file.

      attachment MMonahanLC_KeyTopics_2015.doc

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      CBoycee

      So helpful thanks a million !!

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      M Monahan

      You are very welcome, if you have any questions let me know. Business Documents layouts are important this year, e.g. Report Layout, Business Plan, Memorandum, Agenda, could be mixed in with ABQ and short Questions.

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      M Monahan

      Here is 1999 Short Questions answer which might be good for extra revision as your papers do not go back that far.

      attachment 1999 Section 1- Short Answer Questions.doc

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      09ringroser

      you sir are an absolute ring

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      ciarac96

      Are they predictions ?

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      M Monahan

      If you know the above topic areas it should cover all aspects for your paper tomorrow.

      Cashflow, Break even (including shift in BE Point, due to increase in Variable Costs or Sales Figure changes) and Ratios need to know these well and be able to comment on results!! State figures. Managing Change important and TQM.

      Read Questions carefully, underline what they are asking for and read question again.

      Business Documents, Report Layout, Business Plan as stated above know these and Development of New Product and Product Life Cycle for Marketing - Go through the topics as listed above and I have attached a MS Word Doc which can be printed out. Use the Studyclix exam builder for topic areas and keep doing out short questions! Great way to see what you know and don't know.

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      Noirin fitzgerald

      Very good outline.

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      M Monahan

      Glad to help, remember to underline what you are asked for and read the questions carefully.

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      Anne Kehoe

      What do you mean by "calculate on the issued share capital"?

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      Sera123

      Does anyone have a link to a sample business plan?

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      M Monahan

      The might put in the Authorised Share Capital, to catch you out. Do not use this figure, only the Issued Share Capital (issued to Shareholders - Equity). Authorised Share Capital is the total Capital listed in the Memorandum of Association that the business can give out, but the business only issues what it needs to raise finance. .

      Return on Investment - ROI also known as Return on Capital Employed - ROCE is based on Net Profit / Capital Employed (Long Term Loans (Debt) + Issued Share Capital & Reserves (Equity). Hope this clarifies,

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      M Monahan

      Good outline question for Marketing Q.7 1999, perhaps worth a review for tomorrow.

      "Stages involved in the development process of a new product or service"

      attachment Q7 Part 2 Business in Action1999 HL Bus.doc

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      M Monahan

      Business Plan Layout Know the Headings 5 in Total:

      VIP Know the Business Plan – Layout (5 Headings) Look up LC Q.6 – 2006 full & Q.5 (C) 2005

      1, Description of Business – Name of Company etc.

      2. Organisation and Management – Management team, qualifications experience etc …..

      3. Marketing and Marketing Strategies – Target market, Market research, 4P’s…….

      4. Manufacturing Operations and Premises – Manufacturing process, premises, Q.C…..

      5. Financial Analysis and Investment proposal, Finance requirements, Finance available…..

      Signed:………… Owner of the Business

      Then apply headings to the theory!

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      LauraMurray3388

      what do you think are the most importaqnt topics for questions 1,4,5,6

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      s.maguire

      how do you move the breakeven point due to increased variable costs or sales figure changes?

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      chloe_oconnor

      do you think that they'll put an accounting question in the ABQ or will they leave it out since not all student will be comfortable with doing an accounting question?

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      M Monahan

      Topics as listed above and on MS Word File are all important, Units 2, 3 & 4 are very important this year as they will take into account ABQ and Q.4 & Q.5, these Units will also feature on Short Questions. These Units therefore account for 50% - 55% of the Paper, you need to know them well. State, Explain the theory, most students do not give enough detailed information, you also need to give real examples when answering questions. Studyclix has an exam builder, put topics together from past examination papers, do out the questions and then look at the solutions provided.

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      M Monahan

      Break Even Point is calculated by the Fixed Cost / Contribution Per Unit (Selling Price - Variable Cost)

      If the Variable Cost increases the business would have to produce more units to break even, cost increase therefore more units to cover costs. If this question comes up, do out a graph for the original figures then another graph for the modified figures, you will find that the BE Point will have shifted and the MOS (Margin of Safety will also have changed)

      Note the Fixed Costs will not change - Total Capacity Output (maximum amount of units produced will not change!

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      LauraMurray3388

      which questions would you recommenced doing if you know all the topics you listed above p.s. thanks a bunch for this last minute cram guide

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      M Monahan

      In the ABQ students could be asked to do out a Report Format about the Business, generally calculation questions BE, Ratio and Cashflows will be kept separate on a separate page, you could be asked to comment on the Debt/Equity Ratio as a Ratio for the business in the ABQ, but generally they will have separate questions for them. Remember each of the long questions have A, B & C element, so you need to be able to answer all parts to get maximum marks.

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      M Monahan

      My approach on the Paper for tomorrow, I would do the short questions first full 10 questions 3 minutes each, by 10am, move onto the Section 3 Part 1, do one question - 23 mins. Then look at Section 3 part 2, do two questions 46 minutes, then choose another question form part 1 or part 2, personally I pick part 2 - 23 mins. Then back to the ABQ which will need the balance of time look at: http://businesseducation.ie/exam-q-and-a/applied-business-question/ sample ABQ.

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      s.maguire

      thank you :)

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      M Monahan

      Very welcome, remember to watch the time, as you need to answer all part of questions to get maximum marks.

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      M Monahan

      I would like to hear your feedback on the paper tomorrow, please let me know.

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      Caoilkelly

      Any predictions for ordinary level ??

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      M Monahan

      No ABQ for OL, 25% of the marks is for the Short Questions, 75% is for the Long Question.

      General Topics same as HL Paper Consumer Legislation People in Business, Small Claims Court comes up regularly,

      Forms of Business - Sole Trader, Partnership, PLC.

      Characteristics of Entrepreneurs: Control, Self-confident, Decisive, Creative/Innovated, Energetic.

      Enterprising skills – Planning/Goal setting, Assessing risk/decision making, Time management, HR,

      Innovation, Reality perception, Inner control.

      Leadership styles and Motivational theory Maslow, McGregors X&Y.

      Management Activities – POC (Planning, Organising & Controlling.

      Management Skills - LMC Leading, Motivating and Communications.

      Notice for Meeting and Agenda - Duties of Chairperson, Secretary.

      Good Communication, why is it important for a business.

      Marketing Product Life Cycle, Branding, Target Market.

      Sources of Finance - Short, Medium and Long Term.

      Organisational Structures, be able to draw out (Functional, Geographic, Product).

      Employment Equality Act, Discrimination, Industrial Relations.

      Cashflow foreast be able to analyse it, write about the Net Cash Figure, comment on findings.

      Contract Law, Offer, Acceptance, Consideration etc.

      Balance of trade (Visible/physical) goods and Balance of Payments (Visible and Invisible goods) be able to calculate.

      Insurance - Principles.

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      M Monahan

      Best of Luck today with the Business Exam, let me know how you all get on.

      Remember to read questions, underline key words and watch the time.

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      stefbreen

      Thanks so much for all the predictions, it was so helpful and a lot of it appeared on the paper so thank you

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      M Monahan

      Very welcome, yes a lot of the notes to be covered came up, even the ABQ Samples were very close to the real exam, management and change, delighted to help. Best of luck with your other examinations!

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      jessica_egan

      Thank you 😊

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      M Monahan

      Very welcome :-)

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      ciarac96

      Was a good exam was able to answer 3 long questions good but found it hard to answer a 4th

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      M Monahan

      Time was an issue, it was hard to get all parts completed, but if you have completed short questions, ABQ and 3 long questions should should have done very well. Do not dwell on what you did not complete, look at what you have achieved! Keep going your Leaving Certificate is only the gateway to a career of your choice.

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      M Monahan

      Leaving Certificate Paper now up on examinations.ie http://www.examinations.ie/archive/exampapers/2015/LC033ALP000EV.pdf

      http://www.examinations.ie/archive/exampapers/2015/LC033GLP000EV.pdf

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      michellemcc98

      does anybody know the functions of the public relations officer???

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      M Monahan

      PRO - Public Relations Officer

      The Public Relations Officer role is to create and maintain a good image for the business, trying to create a good publicity and ensuring the business has a good corporate image. Main function is to build positive relationships with the general public and to relate honestly issues that could arise. Example – Heinz Baby-Food Makers Confront British Contamination Scare, the PRO worked to inform the public about the scare and all food products were recalled, main focus of the PRO was to keep customers informed and keep the business image positive. All baby food products were recalled immediately.

      Businesses can keep good PR from sponsoring sporting activities, donating to clubs having open days to promote positively the organisation.

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      grainne1998

      any predictions for 2016 business higher level? please

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      Jennooos

      yes please

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      Tiarraa

      Any predictions for buisness please

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      Honeybee

      Any advice or predictions for 2016?

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      M Monahan

      Review over the notes posted above for last years examination. These are a good outline for revision. Will be posting notes for 2016 shortly, keep checking in with Study Clix.

      General advice at this stage for all your subjects: Keep grouping similar questions together using Study Clix exam builder, fantastic resource for examination practice. Time each question, as timing is crucial.

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      Molly121

      any predictions for 2016 please

    45. avatar image

      Molly121

      any predictions for 2016

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      christinabarron

      Have you got any accounting predictions for 2016?

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      Sarah2990

      Anyone know what is the difference between breach of warranty and breach of condition in the termination of a contract please?

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      M Monahan

      http://keydifferences.com/difference-between-condition-and-warranty.html

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      M Monahan

      Look at https://www.studyclix.ie/Discuss/Leaving-Cert-Business/key-topics-for-2016-leaving-certificate-business-examination

      for key topic areas for this year 2016.

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      Sarah2990

      Thanks a million!

    51. avatar image

      M Monahan

      No problem, delighted to assist. remember to look at Key topics 2016.

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      sazlee1997

      when is 2016 predictions?

    53. avatar image

      M Monahan

      Here is a link:

      https://studyclix.ie/Discuss/Leaving-Cert-Business/key-topics-for-2016-leaving-certificate-business-examination

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      Patrick_4410

      What % of this came up last year

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      M Monahan

      Last year the Business Plan, business Documents were to come up, but they did not, so this year focus on Business Documents, Letter writing layout, Memorandum etc. Break-Even Anaysis as stated on my notes for topics 2016, where BE point moves because the variable costs more etc. Finance - Types of finance given the business in question, why would you pick it. Debt verses Equity. For short question, Memorandum, Average Clause, ACROMS like FDI, ROI etc, P21, P60, P45, calculation of Debt/Equity Ratio comment on ratios.

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      M Monahan

      look at https://www.studyclix.ie/Discuss/Leaving-Cert-Business/key-topics-for-2016-leaving-certificate-business-examination

    57. avatar image

      Me

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