Ontario Grade 11 BDI3C Entrepreneurship: The Venture (Grade 11, College Preparation)
Chapters: 4
1. Ethics and Issues in Accounting
1 Ethics and Issues in Accounting · 2 Budgeting · 3 Business Expansion
- Ethics in Accounting – Banks, investors, workers and governments make decisions using accounting numbers, so the numbers must be honest. Accountants face pressure to bend them. A code of ethics guides them with five principles: integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. Strict standards and new issues such as AI, cyber security and climate reporting keep changing the accountant's role.
- Smart Ways to Manage Your Finances – Inflation makes prices rise, so the same money buys less. Money kept in a bank earns interest: simple interest is paid only on the original amount, while compound interest also earns interest on earlier interest, so it grows faster over time. A budget plans income into needs, wants and savings. Savings are kept safe; investments can grow but carry risk, and higher possible returns mean higher risk. Insurance shares risk among many people. Income tax is paid on income above a limit, at rates that rise with income.
- Joint Stock Company: Types, Formation and Choosing a Form – A company is an artificial person created by law. It is separate from its owners (shareholders), who have limited liability, and it never dies when members change. It can be private, public or a one person company. It is born through promotion, incorporation, capital subscription and commencement of business, using key documents like the Memorandum and Articles of Association. The right form of business depends on cost, liability, continuity, capital, control and the nature of business.
2. Enterprising People and Entrepreneurs
1 The Characteristics and Contributions of an Enterprising Person · 2 Characteristics and Contributions of an Entrepreneur · 3 Self-assessment
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
3. Ideas and Opportunities for New Ventures
1 Invention and Innovation · 2 Sources of Opportunities and Ideas · 3 Generating Ideas and Identifying Opportunities · 4 Evaluating an Idea or Opportunity for a Venture
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.
4. The Benefits of a Venture Plan
1 The Importance of Having a Venture Plan · 2 Components of a Venture Plan · 3 Evaluating and Revising a Venture Plan
- Entrepreneurship Development – Entrepreneurship is starting a new business by spotting a need, putting resources together and taking the risk. India needs entrepreneurs for jobs, new ideas and balanced growth. The process runs from knowing yourself to launching and growing. Start-up India (2016) supports new firms, funding comes from savings, angels, venture capital, banks and crowdfunding, and intellectual property rights protect new ideas, brands and creative work.