Time for Business 3rd Edition

Page 1

E

FR RCE BOOK

(SOLs)

g for, the of learning central to plannin statements principles, are inned by the eight Cycle programme.’ statements, underp ion of the school’s Junior available at ent evaluat ‘The twenty-four nce of, and the Cycle 2015 docum students’ experie in the Framework for Junior They can be found studies/key_documents. siness_ www.jct.ie/bu . s Studies Business to Business Studie are relevant to SOLs relevant learning that s in L1 (i.e. the statements of in a range of context Below are some

of means ely using a variety nicates effectiv in local and The student commu y English or Irish). and responsibilities school, normall citizen, with rights language of the to be an active what it means of The student values mental aspects ic and environ s. social, econom wider context and impacts of ands the origins underst The student live sustainably. her/him. motivation to SOL 9 the world around skills, values and ge, knowled consumer skills. the awareness, develops good in all The student has l decisions and SOL 10 understanding financia and d skills ge, informe atical knowled The student makes l uses of mathem SOL 14 ses the potentia deductions and The student recogni and draws valid . SOL 15 and processes areas of learning s empirical events s and evaluate The student observe skills. neurial 18 s entrepre SOL conclusions. ive and develop initiative, is innovat on. The student takes ion to realisati SOL 22 work and think an idea from concept communicate, The student brings tools to learn, SOL 23 digital media . technology and and ethical manner The student uses in a responsible and creatively SOL 24 collaboratively

SOL 1

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school ts inside and outside learning by studen key skills’. d for successful ulum Online skills are require search for ‘Curric The eight key ation on key skills, For more inform

Eight key skills

BEING LITERATE MANAGING MYSELF

CATING

COMMUNI

WORKING WITH OTHERS

KEY SKI LLS

STAYING WELL

in ; participating s and services es pers, magazin adverts for product s documents, business in newspa ional s letters, busines w; reading about Writing busines national or internat nt, job intervie show what researching local, making a complai or websites to role plays, e.g. ising news reports; hics, presentations g and summar ; creating infograp or online; watchin presenting findings the economy. Being Literate businesses and s or and busines a about ed with saving they have learned ng risks associat d and s; making informe businesses; evaluati ing resource e do research on availabl initiative in what they could l decisions based Demonstrating reflecting on planning financia they consume; personal goals s and services borrowing money; of action; setting about the product a new course and planning responsible choices encounter a problem them. Managing Myself differently if they them achieve their plans to help understanding and preparing work of others; buying the their ng e try to influenc ethically, respecti ; that businesses tion legally and goods and services er; recognising Sourcing informa s about buying ibilities as a consum up to date with thoughtful decision rights and respons knowledge; keeping advertising; making impact on the ; sharing their decisions through about learning reduce their negative businesses can astic and positive being enthusi ing ideas on how Staying Well ments; generat business develop ses of how busines environment. an understanding position l trating financia demons assessing the terminology; and ing solutions; iate business g information s and suggest Using appropr or tables; analysin ing business problem know and new in words, graphs operate; research their analysis what they already on research; ions between and presenting of a business decisions based making connect online; making articles and in various forms; Managing tion they find of interesting data presented keeping copies analysing informa Information learning journal; information; critically and keeping a and Thinking their learning reflecting on insurance . ing relevant calculat are s; s account noting why they s; preparing busines to prepare and ld or a busines spreadsheets for a househo services are l decisions; using of goods and Preparing a budget make financia ing how prices g accounts to ; finding patterns and charts; calculat premiums; analysin ; problem-solving s; creating graphs logical thinking ly; using logical calculate account and supply; using g data accurate . ng and recordin through demand te ned decision s measuri Numera g, determi Being observin ents on a busines relationships; make judgem and describing opinions and s reasoning to form g different busines thinking and s ideas; imaginin problems that es; testing busines to sustainability ing solutions for products/servic t outcomes; suggest Generating ideas predicting differen mistakes. possibilities and learning from from their own; taking risks and Being Creative opinions differ businesses face; to those whose atively; ; showing respect ogy to learn collabor projects technol group ideas to ; using digital Contributing in group projects or service. with classmates or develop a product collaborating Working with to conduct research and through digital leading a group Others both in person business family; writing s and their teacher, tes, friends and g in role with other student s with classma ideas; engagin Communicating business concept to present their ng support best to how discussi facts technology; choices about views using ; presenting their and plans; making letters, reports ons and debates in class discussi Communicating opinions. play; participating present their technology to them; using digital

MANAGING ION INFORMAT & THINKING

BEING CREATIVE

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TIME FOR BUSINESS

A New and Updated Package for Junior Cycle Business Studies

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INTRODUCTI

Twenty-four

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TIME FOR BUSINE

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The Time for Business Teacher’s Resource Book provides all the support and planning material you need to teach Junior Cycle Business Studies. Provides comprehensive planning and assessment guidelines Includes Unit of Learning and Scheme of Work templates Solutions to all questions Contains more detailed information in the key learning section Suggested key learning, tips and teaching approaches

dig

. Video Po

TEACHER’S RESOURCE BOOK

E

rc

TIME FOR BUSINESS

NE

A New and Updated Package for Junior Cycle Business Studies

3

BEING NUMERATE

2

Digital Resources Teachers and students can access the Time for Business interactive e-book at www.edcolearning.ie, plus a bank of free digital resources, including: › Editable chapter summary PowerPoints › Engaging videos illustrating Business Studies in action › Step-by-step accounts that demonstrate accounting exercises and techniques › Solutions to all questions and activities in the Textbook and Student Activity Book › Interactive quizzes to consolidate learning › Editable Excel templates for drafting final accounts › Editable planning documents and templates › Additional questions and activity worksheets › Links to useful websites

The Educational Company of Ireland Please contact your Local Edco Representative to book a presentation and request a sample copy, Ph: 01-4500611, Email: info@edco.ie, Website: www.edcopublications.ie Time for Business Flyer .indd 2

The Educational Company of Ireland

2024

06/02/2024 17:07


TIME FOR BUSINESS

A New and Updated Package for Junior Cycle Business Studies R CHOICES

THE IMPACT OF CONSUME

PERSONAL FINANCE

nnium The United Nations Mille s) Development Goals (MDG and

Enterprise in action

that target hunger, poverty, These are global objectives environmental sustainability.

The Body Shop

Body Shop in Anita Roddick started The statement of March 1976. The mission commitment ‘to The Body Shop makes a the pursuit of social dedicate the business to Its stores and change’. ntal environme and communicate products are used to help ntal issues. human rights and environme

l l

13.14

vision for an ethical business. into Anita Roddick and her Carry out some research Shop and evaluate and operation of The Body Research the current ownership its founder. #Research to live up to the values of whether the business continues

The Reduce, Reuse, Recycle reducing waste.

● ●

Contains 39 chapters that comprehensively cover all Learning Outcomes in the specification and includes a detailed list of Learning Intentions for classroom use

ONE

is work? efforrequ wo atrk? effort. Wh iresthat t. ires oyment What is nt requity that e activ Employme Empl uctiv activity

See Chapter 19 t of for contrac employment

Chapter 19 t of for contrac employment

entyment ymplo receive e of em week. They em s plo . They perreceiv ofpe per week or more t be Types Ty or more t be 40 hours times migh

migh hours The ly work time. usual work 40 The times lyoyees usual full time. empl working full . See oyees ingwhen week. ime Full-t See wage when’swork to weekweek to Full-time empl Chapter 19 ’s wage a full week changor change from e from weekor ime Full-time or a full Chapter 19 may week for are paid for salary paid rights and . They forFull-t or may to 5 p.m., a salary nt a week They aare 5 p.m., for rights and 9 a.m. to e.g. ibilities week oyment employme e.g. 9regul 30 .hours a.m.ar, respons empl hours upa to to 30work responsibilities ers and regular, work ers and of employ oyeeupcould could empl of employ oyee time employees onth A parttime empl employees onth . partfor a 10-m A 10-m work e.g. a time , . for work , e.g. hours they -term basis act termcontr ends.act term ends. Part-time Partthe fixed hours they -term on abasis a fixed oyed nt theoyment the contr on empl es when the oyed are finish when le nt es employme empl empl peop are fixed nt finish employme people Some oyme orary ut fixed empl Some red without temp -term orary as requi work red witho Their temp act. requi asto work do work Fixed-term Fixed contr times they act.ntTheir Some do workby times ble.they oyme nt contr aretoon stand availawork standsby is availa ble. Some g work during are on oyee employme empl work red to onlyiswhen Casusal empl only when employee to work requidurin al oyed red only these Casu empl requi are oyedare only staff these Casual However, empl arehotel ver, . They ason. Casual hours some . They are off-se hotel ple,staff ason. g theHowe some exam A zerooff-se oyment ple, For durin nt hours A zerowork nally. purposes. during the For exam employme empl rights purpo ntses. not work and may not nt rights seasonally. seaso and may times workhours of work oymefor employmehours ofyour empl ay timesholiday oyeesas oyees forempl , but your work is a d peak holid peak d asare but , for empl This treate is a act. available treateers ble for arework nt contr act. This availa e you are nt contr workers are workwhere you employme is wher oyme r your unde act is contract nteedempl under your hours contr hours fied or guara or guara specinteed fied not receive a wage oyment. e a wage nt. oyme are not speci are of empl s. They may may receiv form of empl s. They themselve selvefor ial formoversial ess. themwork for yed controvers contr in the busin work mplo yed the busin makeess. self-e ins they mplo are make self-e who are le s they the profit week in a in a e from the profit People who Peop e from one working See up week working Selfincom their incom See up one job. her make Selfmake takenttheirand take toget Chapter 15 her and pay for that oyees oyme andjob. Chapter 15 empl pay for loadthat oyees toget foremployment empl and , work sharing, two for hours job empl , work theload sharing,Intwo hours share job ng entrepreneurs the Inshari They share entrepreneurs role. Theyular Job sharing Jobparticular role. partic

rights

KEY SKILLS

18.2

tify

Peter and Angela decided to redecorat e their living room. the carpet would Once they had chosen no longer match. the colours they They didn’t want they would ‘accident realised to have the expense ally’ spill a bottle of a new carpet, so of varnish in the middle What do you think they decided of it so they could about Peter and Angela’s claim for a new carpet. actions? Were they enough insurance , so why not get somethin justified because, as they said, ‘We g back’? Is this morally other people with pay insurance? wrong and does it cause problems for Do you hope they get away with it, or do you hope the loss adjuster will see through their plan? #Opinion

#Identify

#Idenpare pare #Com oyees: #Com ll and recall : a salary. recaew andRevi reward empl wage. and tooyees d empl 18.2 eena asalary rewarused Review wage and

to ods a betw een guish ods usedmeth Distin guish betw ent meth ing payment follow (a) Distin (a) ing paym ission each of theCommission theinfollow ● Comm Expla each of ● ain s. #Explain (b) Explain (b) ● Bonu s. #Expl rate ● Time rate ● Bonu ● Time rate Piece rate ● Piece ●

SKILLS S KEY SKILL KEY

tify

#Iden tify #Iden contract. act.term contr fixed-

have a -termor short fixed-tterm racts ent contractsmighjobs shortorary cont t have thata migh loym a temp orarydor Emp that loyment offere a temp ples of exam is offeredwho is ples of jobs 18.3 Emp 18.3 two exam an employee oyee who Think of two

-term

What are the bene fits

INDIVIDUALS AND HOUSEH

OLDS

Is insurance reall

y necessary?

There are costs and risks associated with both insurance and non-insurance.

of insurance?

Insurance cannot prevent accident s happening, but impact of a loss. Most it can help people people who take to recover from the of out insurance hope emplbe for financial acts? for tan there › The compensation (a) Think (a) that they will never acts? migh thereitbe -term contr contr short received allows policy mightbenef suffer an insurable -termon shortstaff benef (b)it What onsome ion loss. holders to replace damaged or stolen. (b) What oying some emplstaff #Opinion or repair items that act? #Opin oying ess of busin have been ess of aempl contract? contr › While insuranc a busin benefits to the e has a financial areto benefits the What SKILLS are (c) S cost, many are willing financial uncertai (c) What KEY SKILL KEY to pay it because nty of loss and buys it protects them ent them some peace employment from the loym Selfemp of mind. ples of › Salary protection and critical 18.5 Selfof exam S ples ent 18.5 SKILL illness cover can exam S differ ent five help protect househo › Life assurance KEY SKILL KEY yedself-employed List five differList by self-edmplo ent give families financia out by ld income. loym ent carrie out emp d loym l work as security in the event well as providin 211 g a cash Seasonal know work carrie onal emp n as are known of sudden or unexpec oyees are payment, the policy 18.4 Seas 18.4 l employees #Listpeople. #List 108 211 ted death. As casual empl ples of examples of may clear all outstand people. exam Some casua Some. List work . List five ing mortgage debt. #List #List ers nal five ers nal.t be seasonal. seaso seasonal workseaso migh t be oyment that nt that emplmigh

employme

9.18 Too much or

not enough?

Discuss what you

9

DID YOU KNOW

Some celebrities insure parts of their

If you drive a motor vehicle, you are required body, such as their by law to have insurance, but most other types of insuranc e are optional and legs, their voice or may not be necessar y. It is up to each their smile, if they household to decide what types of insuranc e suit their needs see it as importan and resources. t Insurance is just one aspect of househo for the way they earn ld risk management. their living. Before you decide whether to insure, Taylor Swift is rumoured you should follow to have these steps to manage her legs insured for your risk: €40 million 1 Identify the in case she has an major sources of househo accident and is ld or personal risk, unable to dance e.g. the risk of fire on stage. damage to the home. 2 Take appropri ate steps to eliminat e or reduce the risk, These measures will e.g. install smoke alarms. also help to reduce premiums if insuranc 3 If necessar e is required. y, insure against those risks which cannot need insurance with be eliminated. You enough cover for potential losses. There associated with having are costs too little insuranc e cover and also with too much insuranc having e cover. KEY SKILLS

9.17 Accidentally on purpose SKILLS S KEY SKILL KEY

INSURANCE FOR

E

e prod is any Work productiv received paid Work Work is any Work Paymedent is ent is receiv Paympaid may not be nt orpaid maybe may not beorpaid may not be of employme unpaoridmay not May act nt id of May employme You may or You unpaples Contract of Contr workof. Exam k, housework, TERM . Exam forples act KEY TERM KEY for work rights doing No contract No contr hous deewor doing inclu Legal rights Legal yment is includework t is work a , homework, legal rights Employmen Emplo legal rights work a for which your home No ument No doing your umen t instr work for whichwork doing es a instr a n receiv a musical cal es S ising perso musi receiv a n SKILL pract S ising perso wage pract KEY SKILL KEY wage ent (a . tary work. work volun tary payment (a paym ). and it you do, it e mum wage in um wage in you do,work or salary and volun Mini mum wag or salary). paid for the minim for the um wage are work 18.1 Mini 18.1 currentisminim If you the current yees you are paid If are are is the What oyment. Employees Emploe who workd empl areWhat callednt.empl a person aged: n aged: isoyme work is calle Ireland for rights and Ireland for a perso s and legalare people who peopl s have employers oyeeright oyment. s have legal nt. Over 18? for employers for a oyee Empl Empl ract of empl contoyme (a) Over 18? (a) a return for racttoofaempl arch #Research contled #Rese een an in return for in an led to aentit betw Under 18? een 18? entit ent. r (b) ment paym agree (b) Unde sets payment. is anbetw agreement sets oyee that that yer isis an This empland empl oyeean isAn emploThis yer an oyer and An emplo empl and living, who oyer and nsibilities , respo whosomeone empl nsibis,lities standard of ard of re living someone s, respo the right re stand n a secu another the rightout er a perso n a secu s.s and wants. es.both parties. pays anoth pays n toout This gives needfy parti work need s of givese.a perso s and want dutie work e. This perso an incom their satis their duties of both person to an incom to earn to satis servifyces to to earn le work ces s and for them. le workpeop good for them. buyservi goodstoand Most peop Most to buy them h enables les them See which enab whic

ENTERPRISE

the most of your resou Household rces Income Household Expenditu re Household Budgets 5 Recording Household Income and 6 Finan Expenditu cial Services re for Individual 7 Savin s and Hous g and Inves eholds ting Mon 8 Borro ey wing for Indiv iduals and 9 Insur Household ance s 10 Perso nal Taxation 11 Finan cial Plann ing for Your 12 Prote Future cting the Consumer 13 The Impa ct of Cons umer Choi 14 The Bigg ces er Picture: An Introduct ion to Glob alisation 2

3

4

ND TWO

discounts in sales are • genuine – or face fines of Indicating a previous selling up to €5,000. The state body – or prior – price in a priceset up to protect consumers, reduction advert that never The Competition and Consumer applied to the product Protection Commission in question; (CCPC), told businesses that it would be watching to ensure discounts are genuine and • Indicating a recommended retail consumers were not misled. price only and presenting this price as having previously applied to the When a business makes product in question. a price reduction announceme nt, Previous it must under law display the lowest price a product investigations by The Irish independent have was on sale for in the previous 30 days, and base the discount uncovered fake discounts and misleading on this price alone. The information from a variety of prominent Irish CCPC undertook an analysis retailers. pricing data from a number of of business websites. In one case, a 75” television was claimed to be €1,100 Mr O’Brien, a member cheaper – but the retailer of the CCPC said: “Our had cut only €150 off the analysis In has shown a number of price. another, a pair of Sony concerning pricing practices, headphones were advertised and demonstrated that a number at of traders had not yet changed €100 lower than the original price, instead of just €25 off their practices around the actual price the month price-reduction announceme before. nts, following the introduction of the new rules last year.” Mr O’Brien said that if the CCPC found any offers that Some of the issues around misled consumers, it would pricing practices that the first engage with businesses CCPC and found included retailers: then take enforcement action where necessary. • Not using the lowest price applied to the product in the previous 30 days before Source: Adapted from The Irish the price of the product Independent, was reduced; 27 July 2023

ENTERPRISE

In this stra will find nd on Personal Fina the followi ng chapter nce you 1 Making s:

STRA STRAND TWO

See Chapter 19 ee for employ

PERSONAL FINANC E

Retailers warned they may €5,000 if caught offerin face fines up to g ‘fake discounts’ Retailers have been warned to ensure

think the costs and

(a) Too much cover

risks are for having: (b) Too little cover.

Decisions about insuranc e should be taken as part of your personal cycle. Insurance needs financial life should be reviewed and updated annually person takes out insurance is largely . Whether or not a a personal decision a condition of the , but if you have a lender will be that mortgage you have adequat and life assurance e insurance on your on the person(s) paying property, the mortgage to make paid in the event of their death. sure the debt is

Can all risks be

Income statement

450,000

Cost of goods availab

280,000

– Closing stock

285,000

le for sale

Which

What can you do?

e

the product they interested in the world behind ‘Consumers are increasingly that everyone in the whole chain of a product’s buy. Life cycle thinking implies has a responsibility and a role to play, taking life cycle, from cradle to grave, external effects.’ into account all the relevant UNEP Director, Executive Toepfer, Klaus Programme) (United Nations Environment actions can you take of the issues, what practical Now that you are more aware of your consumer choices? limit the negative impacts

27.1 Practice: Incom e statem Prepare income stateme

2

to

g 1 Engage in life cycle thinkin impacts of a product over its entire life and economic Consider the environmental choices we make. It be more mindful of the consumer cycle. This challenges us to choices have on others. lity for the impact that our requires us to take responsibi

322

ents

27

year ended 31/1 2/2025 €

2

450,000 5)

5,000

Subtract

280,000

+ Customs duty

2,000

+ Carriage inwards

176,000

the main targets Development Goals and identify Research the UN’s Millennium including how successful the countries, set out in the initiative. Evaluate #Research the targets so far. Ireland, have been in achieving

+ Purchases

274,000

Points to note: › The cost of sales takes account of the opening stock start of the year held by the busine plus the additional ss at the goods purchased › It is also necess during the year. ary to subtract the value of the closing at the end of the stock that remain year. Since these s unsold goods will not be year, we need to sold until the next subtract them from financial this year’s accoun this financial year ts. The closing stock will become the for opening stock for next year. Complete questio ns 8–9 in your Studen t Activity Book (page XX). KEY SKILLS

countries have met the targets?

of Zing Ltd for

Sales Less cost of sales: Opening stock (1/1/202

Subtract ‘Cost of sales’ from ‘Sales’

11,000

E STATEMENT

and

= Cost of goods available for sale – Closing stock (31/12/2 025)

= Cost of sales

4,000 291,000

11,000

Gross profit

280,000

170,000

Point to note: › In this examp le, the cost of sales is increased due (carriage in) and to the payment of importation costs transport (customs duty). Since cost of purchasing both items increas goods, they are added e the to purchases. Complete questio ns 10–12 in your Student Activity Book (page XX).

nts from the informa 31/12/2025. (If you tion supplied for the year ended are using Busines s Studies Record each of the followin Books, use Record g questions.) #Calcul Book 2 for ate (a) Sales €550,0 00 (c) Sales €850,0 Purchases €290,0 00 00 Opening stock €15,000 Purchases €480,0 00 Closing stock €17,000 Opening stock €15,000 Closing stock €16,00 (b) Sales €930,0 0 00 (d) Sales €435,0 Purchases €680,0 00 00 Opening stock €8,000 Purchases €265,0 00 Closing stock €12,00 Opening stock €15,000 0 Closing stock €16,00 0

161

KEY SKILLS

27.2 More practi ce: Incom

e statements

Prepare income stateme nts from the informa 31/12/2025. (If you tion supplied for the year ended are using Busines s Studies Record for each of the followin Books, use Record g questions.) #Calcul Book 2 ate (a) Sales €355,00 0 (b) Sales €685,0 Purchases €280,0 00 00 Carriage inwards Purchases €483,0 €14,000 00 Customs duty €12,00 Carriage inwards €1,650 0 Opening stock €5,000 Customs duty €8,000 Closing stock €11,000 Opening stock €15,000 Closing stock €19,700

2

Includes past exam questions and shows a clear link between chapter material and SEC exams Up-to-date content, including ‘Time for Business News’ and ‘Enterprise in action’ sections Features a comprehensive guide to all aspects of assessment, including CBAs Includes a new section on the impact of AI on businesses and consumers The material provides students with key skills for life and equips them with knowledge on financial literacy Colourful and vibrant layout, with relevant images, clear text boxes and panels Key terms are highlighted in each chapter to help build subject specific vocabulary and key term boxes appear throughout to emphasise the material

The Student Activity Book comes free as part of the Time for Business package and provides students with the space to reflect and practice on their learning.

PERSONAL FINANC

PERSONA FINANCE L

RPRISE SE ENTERPRI ENTE

STRAND ONE

year ended 31/1 2/2025

5,000

carriage inwards

STUDENT ACTIVITY BOOK

18

RISM

e statement with

323

18

13.15

successful in

Re C r e a

suit that suit at times that timeswork work oyer andatfinish finish start and can by their empl startoyee red oyer canempl by their requiempl red that an emplsoyee hours requi core hours s that imeanmean g the core g the mean Flexit contract. act. durin work durin contr Flexit imeime theirstated in their long as they stately aswork as they d in hours Flexitime Flexit ce out-of-office f-offier hours them as long themall week all week lyfor out-o anoth See er (or to and n anoth for day home home ectionettoconnectio Chapter 19 work(orfrom each day and each from et conn oyees an intern work ee empl g the intern e and oyees ing and an a phon g the te work ing empl oyer. Durin for employ Durin toehave a phon workRemo empl oyer. have need their tooyees Remo empl and rights with te te need their Empl Remo easily withte oyees from home ion). home Empl Remote easilyunica workand locat from d to unicatecomm work locat force ingion). d to helpTeams to help were work and to email and were s tosoft force nd comm oyees Team working Micro respo softand nd to oyees g/ email many empl Micro work empl orkin Zoom emic and as g/ respo many work pand Zoomsuch cases, this emic-19 this as , ology some (teleworkin (telew -19 pand such Covid cases In ology somemers. oyees Covid tions techn d techn unica mers. hybri andIncusto custo comm . Where empl employees gues hybrid and usedtions collea communica . Wher gues inge week work used week work collea ing) called with ing the is work ct work work called part of ion this ct with intera of the working) all or this locat part for te is all ornued remo them intera themnuedhas locataion teand forconti a remo their conti ice andeen theirbetw eentime practice has pract timework betwing workingtheir split their split ing. d working. hybrid work hybri

NTS: THE INCOM

Example 2: Incom

customs duty Prepare an income statement for Zing Ltd for the year ended information: 31/12/2025 from the following › Sales €450,0 00 › Customs duty › Purchases €280,0 €2,000 00 › Opening stock › Carriage inwards €5,000 €4,000 › Closing stock €11,000

160

Student Textbook Student Activity Book Teacher’s Resource Book FREE e-book FREE Digital Resources

RISM NTEE AND VOLU VOLUNTEE AND LOYMENT ENT EMP LOYMK, WORK, EMPWOR

campaign has been very

which collects clean, ReCreate is a social enterprise es businesses and redistribut end-of-line materials from Creativ ity through Reuse aims to divert materials them to its members. ReCreate ntal awareness around reuse materials that from landfill and raise environme encourages the public to as creative reuse, which reuse. The concept is known of inventive ways. kinds all in away in would normally be thrown access to the materials stored n fee and in turn have unlimited subscriptio for free and have annual an Members pay have their materials collected Wonders, while businesses an industrial scale, which on reuse s ReCreate’s Warehouse of e. This encourage of a strong CSR programm , dynamic social enterprise the opportunity to avail innovative an be to continue to vision is is ReCreate’s main aim. ReCreate’s nt. and care for the environme e of Wonders, the inspiring, curiosity, creativity on the shelves in its Warehous , by just putting materials uses are being reinvented ReCreate has learned that them. The items’ original about how they can reuse projects, festival members begin thinking art, school murals, sensory / way possible from children’s creatively reused in every range of materials and alternative diverse The up to community gardens. this possible for the installations, all the way limits and ReCreate is making no has really them reusing creative opportunities for ate.ie Source: Adapted from www.recre whole community.

Student-friendly language throughout to make it accessible for all learners

STRAND

nt Programme

KEY SKILLS

Enterprise in action

ReCreate.ie

Reflects the Junior Cycle Business Studies exam, with exam-style assessment questions throughout

for Zing Ltd for

Sales

Gross profit

Source: United Nations Developme

and technologies

Reduce, reuse, recycle

Contains new case studies featuring new businesses and entrepreneurs

Income statement

Cost of sales

sustainable resources for products made using There is an increased demand recycled materials or include products made from and technologies. Examples replanted forests.

Links within chapters to other learning outcomes and key skills are clearly highlighted

s?

to its founding principle Is The Body Shop living up

Includes a range of activities mapped to key skills development and designed to promote active student engagement

FINAL ACCOU

(trading account)

+ Purchases

Sustainable resources

STUDENT TEXTBOOOK ●

2

income statement

Prepare an income statement for Zing Ltd for the year ended information: 31/12/2025 from the following › Sales €450,0 00 › Opening stock › Purchases €280,0 €5,000 00 › Closing stock €11,000

ENTERPRISE

l

education

ENTERPRISE

Example 1: Basic

Less cost of sales:

KEY SKILLS

The new Time for Business package includes: l

STRAND TWO

Opening stock

A new and updated edition of the market-leading Time for Business for the Junior Cycle. Written by a team of highly experienced teachers and authors, the new Time for Business package, is closely aligned to the specification, reflects the most recent Junior Cycle Business Studies exams and delivers streamlined and updated content based on teacher and market feedback. l

13 PERSONAL FINANCE

STRAND ONE

See Chapter 11 for personal financial life cycle

insured?

The answer is no; some risks are uninsura ble. In general, it risk where the insurer is not possible to cannot work out the insure a chances of a loss you can’t insure against occurring. For example failing an exam or , making a business uninsurable risk include loss. Other types losses that are certain of terminal illness who to occur,such as a person who has a is trying to take out life assurance. KEY SKILLS

9.19 Insurance compan y investment ethics

When you buy insurance , the insurance company a profit. Is it importan invests that money t to you that those to make investments are ethical insurance company or should the go for the best monetary return? #Discussion

#Opinion

Additional questions and activities to complement textbook content Contains exam-informed templates and formats for student practice Encourages active learning, self-assessment, reflection and revision Includes support for CBA preparation

Weblinks PowerPoint

109

210

210

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Time for Business Flyer .indd 3-4

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TIME FOR BUSINESS

A New and Updated Package for Junior Cycle Business Studies R CHOICES

THE IMPACT OF CONSUME

PERSONAL FINANCE

nnium The United Nations Mille s) Development Goals (MDG and

Enterprise in action

that target hunger, poverty, These are global objectives environmental sustainability.

The Body Shop

Body Shop in Anita Roddick started The statement of March 1976. The mission commitment ‘to The Body Shop makes a the pursuit of social dedicate the business to Its stores and change’. ntal environme and communicate products are used to help ntal issues. human rights and environme

l l

13.14

vision for an ethical business. into Anita Roddick and her Carry out some research Shop and evaluate and operation of The Body Research the current ownership its founder. #Research to live up to the values of whether the business continues

The Reduce, Reuse, Recycle reducing waste.

● ●

Contains 39 chapters that comprehensively cover all Learning Outcomes in the specification and includes a detailed list of Learning Intentions for classroom use

ONE

is work? efforrequ wo atrk? effort. Wh iresthat t. ires oyment What is nt requity that e activ Employme Empl uctiv activity

See Chapter 19 t of for contrac employment

Chapter 19 t of for contrac employment

entyment ymplo receive e of em week. They em s plo . They perreceiv ofpe per week or more t be Types Ty or more t be 40 hours times migh

migh hours The ly work time. usual work 40 The times lyoyees usual full time. empl working full . See oyees ingwhen week. ime Full-t See wage when’swork to weekweek to Full-time empl Chapter 19 ’s wage a full week changor change from e from weekor ime Full-time or a full Chapter 19 may week for are paid for salary paid rights and . They forFull-t or may to 5 p.m., a salary nt a week They aare 5 p.m., for rights and 9 a.m. to e.g. ibilities week oyment employme e.g. 9regul 30 .hours a.m.ar, respons empl hours upa to to 30work responsibilities ers and regular, work ers and of employ oyeeupcould could empl of employ oyee time employees onth A parttime empl employees onth . partfor a 10-m A 10-m work e.g. a time , . for work , e.g. hours they -term basis act termcontr ends.act term ends. Part-time Partthe fixed hours they -term on abasis a fixed oyed nt theoyment the contr on empl es when the oyed are finish when le nt es employme empl empl peop are fixed nt finish employme people Some oyme orary ut fixed empl Some red without temp -term orary as requi work red witho Their temp act. requi asto work do work Fixed-term Fixed contr times they act.ntTheir Some do workby times ble.they oyme nt contr aretoon stand availawork standsby is availa ble. Some g work during are on oyee employme empl work red to onlyiswhen Casusal empl only when employee to work requidurin al oyed red only these Casu empl requi are oyedare only staff these Casual However, empl arehotel ver, . They ason. Casual hours some . They are off-se hotel ple,staff ason. g theHowe some exam A zerooff-se oyment ple, For durin nt hours A zerowork nally. purposes. during the For exam employme empl rights purpo ntses. not work and may not nt rights seasonally. seaso and may times workhours of work oymefor employmehours ofyour empl ay timesholiday oyeesas oyees forempl , but your work is a d peak holid peak d asare but , for empl This treate is a act. available treateers ble for arework nt contr act. This availa e you are nt contr workers are workwhere you employme is wher oyme r your unde act is contract nteedempl under your hours contr hours fied or guara or guara specinteed fied not receive a wage oyment. e a wage nt. oyme are not speci are of empl s. They may may receiv form of empl s. They themselve selvefor ial formoversial ess. themwork for yed controvers contr in the busin work mplo yed the busin makeess. self-e ins they mplo are make self-e who are le s they the profit week in a in a e from the profit People who Peop e from one working See up week working Selfincom their incom See up one job. her make Selfmake takenttheirand take toget Chapter 15 her and pay for that oyees oyme andjob. Chapter 15 empl pay for loadthat oyees toget foremployment empl and , work sharing, two for hours job empl , work theload sharing,Intwo hours share job ng entrepreneurs the Inshari They share entrepreneurs role. Theyular Job sharing Jobparticular role. partic

rights

KEY SKILLS

18.2

tify

Peter and Angela decided to redecorat e their living room. the carpet would Once they had chosen no longer match. the colours they They didn’t want they would ‘accident realised to have the expense ally’ spill a bottle of a new carpet, so of varnish in the middle What do you think they decided of it so they could about Peter and Angela’s claim for a new carpet. actions? Were they enough insurance , so why not get somethin justified because, as they said, ‘We g back’? Is this morally other people with pay insurance? wrong and does it cause problems for Do you hope they get away with it, or do you hope the loss adjuster will see through their plan? #Opinion

#Identify

#Idenpare pare #Com oyees: #Com ll and recall : a salary. recaew andRevi reward empl wage. and tooyees d empl 18.2 eena asalary rewarused Review wage and

to ods a betw een guish ods usedmeth Distin guish betw ent meth ing payment follow (a) Distin (a) ing paym ission each of theCommission theinfollow ● Comm Expla each of ● ain s. #Explain (b) Explain (b) ● Bonu s. #Expl rate ● Time rate ● Bonu ● Time rate Piece rate ● Piece ●

SKILLS S KEY SKILL KEY

tify

#Iden tify #Iden contract. act.term contr fixed-

have a -termor short fixed-tterm racts ent contractsmighjobs shortorary cont t have thata migh loym a temp orarydor Emp that loyment offere a temp ples of exam is offeredwho is ples of jobs 18.3 Emp 18.3 two exam an employee oyee who Think of two

-term

What are the bene fits

INDIVIDUALS AND HOUSEH

OLDS

Is insurance reall

y necessary?

There are costs and risks associated with both insurance and non-insurance.

of insurance?

Insurance cannot prevent accident s happening, but impact of a loss. Most it can help people people who take to recover from the of out insurance hope emplbe for financial acts? for tan there › The compensation (a) Think (a) that they will never acts? migh thereitbe -term contr contr short received allows policy mightbenef suffer an insurable -termon shortstaff benef (b)it What onsome ion loss. holders to replace damaged or stolen. (b) What oying some emplstaff #Opinion or repair items that act? #Opin oying ess of busin have been ess of aempl contract? contr › While insuranc a busin benefits to the e has a financial areto benefits the What SKILLS are (c) S cost, many are willing financial uncertai (c) What KEY SKILL KEY to pay it because nty of loss and buys it protects them ent them some peace employment from the loym Selfemp of mind. ples of › Salary protection and critical 18.5 Selfof exam S ples ent 18.5 SKILL illness cover can exam S differ ent five help protect househo › Life assurance KEY SKILL KEY yedself-employed List five differList by self-edmplo ent give families financia out by ld income. loym ent carrie out emp d loym l work as security in the event well as providin 211 g a cash Seasonal know work carrie onal emp n as are known of sudden or unexpec oyees are payment, the policy 18.4 Seas 18.4 l employees #Listpeople. #List 108 211 ted death. As casual empl ples of examples of may clear all outstand people. exam Some casua Some. List work . List five ing mortgage debt. #List #List ers nal five ers nal.t be seasonal. seaso seasonal workseaso migh t be oyment that nt that emplmigh

employme

9.18 Too much or

not enough?

Discuss what you

9

DID YOU KNOW

Some celebrities insure parts of their

If you drive a motor vehicle, you are required body, such as their by law to have insurance, but most other types of insuranc e are optional and legs, their voice or may not be necessar y. It is up to each their smile, if they household to decide what types of insuranc e suit their needs see it as importan and resources. t Insurance is just one aspect of househo for the way they earn ld risk management. their living. Before you decide whether to insure, Taylor Swift is rumoured you should follow to have these steps to manage her legs insured for your risk: €40 million 1 Identify the in case she has an major sources of househo accident and is ld or personal risk, unable to dance e.g. the risk of fire on stage. damage to the home. 2 Take appropri ate steps to eliminat e or reduce the risk, These measures will e.g. install smoke alarms. also help to reduce premiums if insuranc 3 If necessar e is required. y, insure against those risks which cannot need insurance with be eliminated. You enough cover for potential losses. There associated with having are costs too little insuranc e cover and also with too much insuranc having e cover. KEY SKILLS

9.17 Accidentally on purpose SKILLS S KEY SKILL KEY

INSURANCE FOR

E

e prod is any Work productiv received paid Work Work is any Work Paymedent is ent is receiv Paympaid may not be nt orpaid maybe may not beorpaid may not be of employme unpaoridmay not May act nt id of May employme You may or You unpaples Contract of Contr workof. Exam k, housework, TERM . Exam forples act KEY TERM KEY for work rights doing No contract No contr hous deewor doing inclu Legal rights Legal yment is includework t is work a , homework, legal rights Employmen Emplo legal rights work a for which your home No ument No doing your umen t instr work for whichwork doing es a instr a n receiv a musical cal es S ising perso musi receiv a n SKILL pract S ising perso wage pract KEY SKILL KEY wage ent (a . tary work. work volun tary payment (a paym ). and it you do, it e mum wage in um wage in you do,work or salary and volun Mini mum wag or salary). paid for the minim for the um wage are work 18.1 Mini 18.1 currentisminim If you the current yees you are paid If are are is the What oyment. Employees Emploe who workd empl areWhat callednt.empl a person aged: n aged: isoyme work is calle Ireland for rights and Ireland for a perso s and legalare people who peopl s have employers oyeeright oyment. s have legal nt. Over 18? for employers for a oyee Empl Empl ract of empl contoyme (a) Over 18? (a) a return for racttoofaempl arch #Research contled #Rese een an in return for in an led to aentit betw Under 18? een 18? entit ent. r (b) ment paym agree (b) Unde sets payment. is anbetw agreement sets oyee that that yer isis an This empland empl oyeean isAn emploThis yer an oyer and An emplo empl and living, who oyer and nsibilities , respo whosomeone empl nsibis,lities standard of ard of re living someone s, respo the right re stand n a secu another the rightout er a perso n a secu s.s and wants. es.both parties. pays anoth pays n toout This gives needfy parti work need s of givese.a perso s and want dutie work e. This perso an incom their satis their duties of both person to an incom to earn to satis servifyces to to earn le work ces s and for them. le workpeop good for them. buyservi goodstoand Most peop Most to buy them h enables les them See which enab whic

ENTERPRISE

the most of your resou Household rces Income Household Expenditu re Household Budgets 5 Recording Household Income and 6 Finan Expenditu cial Services re for Individual 7 Savin s and Hous g and Inves eholds ting Mon 8 Borro ey wing for Indiv iduals and 9 Insur Household ance s 10 Perso nal Taxation 11 Finan cial Plann ing for Your 12 Prote Future cting the Consumer 13 The Impa ct of Cons umer Choi 14 The Bigg ces er Picture: An Introduct ion to Glob alisation 2

3

4

ND TWO

discounts in sales are • genuine – or face fines of Indicating a previous selling up to €5,000. The state body – or prior – price in a priceset up to protect consumers, reduction advert that never The Competition and Consumer applied to the product Protection Commission in question; (CCPC), told businesses that it would be watching to ensure discounts are genuine and • Indicating a recommended retail consumers were not misled. price only and presenting this price as having previously applied to the When a business makes product in question. a price reduction announceme nt, Previous it must under law display the lowest price a product investigations by The Irish independent have was on sale for in the previous 30 days, and base the discount uncovered fake discounts and misleading on this price alone. The information from a variety of prominent Irish CCPC undertook an analysis retailers. pricing data from a number of of business websites. In one case, a 75” television was claimed to be €1,100 Mr O’Brien, a member cheaper – but the retailer of the CCPC said: “Our had cut only €150 off the analysis In has shown a number of price. another, a pair of Sony concerning pricing practices, headphones were advertised and demonstrated that a number at of traders had not yet changed €100 lower than the original price, instead of just €25 off their practices around the actual price the month price-reduction announceme before. nts, following the introduction of the new rules last year.” Mr O’Brien said that if the CCPC found any offers that Some of the issues around misled consumers, it would pricing practices that the first engage with businesses CCPC and found included retailers: then take enforcement action where necessary. • Not using the lowest price applied to the product in the previous 30 days before Source: Adapted from The Irish the price of the product Independent, was reduced; 27 July 2023

ENTERPRISE

In this stra will find nd on Personal Fina the followi ng chapter nce you 1 Making s:

STRA STRAND TWO

See Chapter 19 ee for employ

PERSONAL FINANC E

Retailers warned they may €5,000 if caught offerin face fines up to g ‘fake discounts’ Retailers have been warned to ensure

think the costs and

(a) Too much cover

risks are for having: (b) Too little cover.

Decisions about insuranc e should be taken as part of your personal cycle. Insurance needs financial life should be reviewed and updated annually person takes out insurance is largely . Whether or not a a personal decision a condition of the , but if you have a lender will be that mortgage you have adequat and life assurance e insurance on your on the person(s) paying property, the mortgage to make paid in the event of their death. sure the debt is

Can all risks be

Income statement

450,000

Cost of goods availab

280,000

– Closing stock

285,000

le for sale

Which

What can you do?

e

the product they interested in the world behind ‘Consumers are increasingly that everyone in the whole chain of a product’s buy. Life cycle thinking implies has a responsibility and a role to play, taking life cycle, from cradle to grave, external effects.’ into account all the relevant UNEP Director, Executive Toepfer, Klaus Programme) (United Nations Environment actions can you take of the issues, what practical Now that you are more aware of your consumer choices? limit the negative impacts

27.1 Practice: Incom e statem Prepare income stateme

2

to

g 1 Engage in life cycle thinkin impacts of a product over its entire life and economic Consider the environmental choices we make. It be more mindful of the consumer cycle. This challenges us to choices have on others. lity for the impact that our requires us to take responsibi

322

ents

27

year ended 31/1 2/2025 €

2

450,000 5)

5,000

Subtract

280,000

+ Customs duty

2,000

+ Carriage inwards

176,000

the main targets Development Goals and identify Research the UN’s Millennium including how successful the countries, set out in the initiative. Evaluate #Research the targets so far. Ireland, have been in achieving

+ Purchases

274,000

Points to note: › The cost of sales takes account of the opening stock start of the year held by the busine plus the additional ss at the goods purchased › It is also necess during the year. ary to subtract the value of the closing at the end of the stock that remain year. Since these s unsold goods will not be year, we need to sold until the next subtract them from financial this year’s accoun this financial year ts. The closing stock will become the for opening stock for next year. Complete questio ns 8–9 in your Studen t Activity Book (page XX). KEY SKILLS

countries have met the targets?

of Zing Ltd for

Sales Less cost of sales: Opening stock (1/1/202

Subtract ‘Cost of sales’ from ‘Sales’

11,000

E STATEMENT

and

= Cost of goods available for sale – Closing stock (31/12/2 025)

= Cost of sales

4,000 291,000

11,000

Gross profit

280,000

170,000

Point to note: › In this examp le, the cost of sales is increased due (carriage in) and to the payment of importation costs transport (customs duty). Since cost of purchasing both items increas goods, they are added e the to purchases. Complete questio ns 10–12 in your Student Activity Book (page XX).

nts from the informa 31/12/2025. (If you tion supplied for the year ended are using Busines s Studies Record each of the followin Books, use Record g questions.) #Calcul Book 2 for ate (a) Sales €550,0 00 (c) Sales €850,0 Purchases €290,0 00 00 Opening stock €15,000 Purchases €480,0 00 Closing stock €17,000 Opening stock €15,000 Closing stock €16,00 (b) Sales €930,0 0 00 (d) Sales €435,0 Purchases €680,0 00 00 Opening stock €8,000 Purchases €265,0 00 Closing stock €12,00 Opening stock €15,000 0 Closing stock €16,00 0

161

KEY SKILLS

27.2 More practi ce: Incom

e statements

Prepare income stateme nts from the informa 31/12/2025. (If you tion supplied for the year ended are using Busines s Studies Record for each of the followin Books, use Record g questions.) #Calcul Book 2 ate (a) Sales €355,00 0 (b) Sales €685,0 Purchases €280,0 00 00 Carriage inwards Purchases €483,0 €14,000 00 Customs duty €12,00 Carriage inwards €1,650 0 Opening stock €5,000 Customs duty €8,000 Closing stock €11,000 Opening stock €15,000 Closing stock €19,700

2

Includes past exam questions and shows a clear link between chapter material and SEC exams Up-to-date content, including ‘Time for Business News’ and ‘Enterprise in action’ sections Features a comprehensive guide to all aspects of assessment, including CBAs Includes a new section on the impact of AI on businesses and consumers The material provides students with key skills for life and equips them with knowledge on financial literacy Colourful and vibrant layout, with relevant images, clear text boxes and panels Key terms are highlighted in each chapter to help build subject specific vocabulary and key term boxes appear throughout to emphasise the material

The Student Activity Book comes free as part of the Time for Business package and provides students with the space to reflect and practice on their learning.

PERSONAL FINANC

PERSONA FINANCE L

RPRISE SE ENTERPRI ENTE

STRAND ONE

year ended 31/1 2/2025

5,000

carriage inwards

STUDENT ACTIVITY BOOK

18

RISM

e statement with

323

18

13.15

successful in

Re C r e a

suit that suit at times that timeswork work oyer andatfinish finish start and can by their empl startoyee red oyer canempl by their requiempl red that an emplsoyee hours requi core hours s that imeanmean g the core g the mean Flexit contract. act. durin work durin contr Flexit imeime theirstated in their long as they stately aswork as they d in hours Flexitime Flexit ce out-of-office f-offier hours them as long themall week all week lyfor out-o anoth See er (or to and n anoth for day home home ectionettoconnectio Chapter 19 work(orfrom each day and each from et conn oyees an intern work ee empl g the intern e and oyees ing and an a phon g the te work ing empl oyer. Durin for employ Durin toehave a phon workRemo empl oyer. have need their tooyees Remo empl and rights with te te need their Empl Remo easily withte oyees from home ion). home Empl Remote easilyunica workand locat from d to unicatecomm work locat force ingion). d to helpTeams to help were work and to email and were s tosoft force nd comm oyees Team working Micro respo softand nd to oyees g/ email many empl Micro work empl orkin Zoom emic and as g/ respo many work pand Zoomsuch cases, this emic-19 this as , ology some (teleworkin (telew -19 pand such Covid cases In ology somemers. oyees Covid tions techn d techn unica mers. hybri andIncusto custo comm . Where empl employees gues hybrid and usedtions collea communica . Wher gues inge week work used week work collea ing) called with ing the is work ct work work called part of ion this ct with intera of the working) all or this locat part for te is all ornued remo them intera themnuedhas locataion teand forconti a remo their conti ice andeen theirbetw eentime practice has pract timework betwing workingtheir split their split ing. d working. hybrid work hybri

NTS: THE INCOM

Example 2: Incom

customs duty Prepare an income statement for Zing Ltd for the year ended information: 31/12/2025 from the following › Sales €450,0 00 › Customs duty › Purchases €280,0 €2,000 00 › Opening stock › Carriage inwards €5,000 €4,000 › Closing stock €11,000

160

Student Textbook Student Activity Book Teacher’s Resource Book FREE e-book FREE Digital Resources

RISM NTEE AND VOLU VOLUNTEE AND LOYMENT ENT EMP LOYMK, WORK, EMPWOR

campaign has been very

which collects clean, ReCreate is a social enterprise es businesses and redistribut end-of-line materials from Creativ ity through Reuse aims to divert materials them to its members. ReCreate ntal awareness around reuse materials that from landfill and raise environme encourages the public to as creative reuse, which reuse. The concept is known of inventive ways. kinds all in away in would normally be thrown access to the materials stored n fee and in turn have unlimited subscriptio for free and have annual an Members pay have their materials collected Wonders, while businesses an industrial scale, which on reuse s ReCreate’s Warehouse of e. This encourage of a strong CSR programm , dynamic social enterprise the opportunity to avail innovative an be to continue to vision is is ReCreate’s main aim. ReCreate’s nt. and care for the environme e of Wonders, the inspiring, curiosity, creativity on the shelves in its Warehous , by just putting materials uses are being reinvented ReCreate has learned that them. The items’ original about how they can reuse projects, festival members begin thinking art, school murals, sensory / way possible from children’s creatively reused in every range of materials and alternative diverse The up to community gardens. this possible for the installations, all the way limits and ReCreate is making no has really them reusing creative opportunities for ate.ie Source: Adapted from www.recre whole community.

Student-friendly language throughout to make it accessible for all learners

STRAND

nt Programme

KEY SKILLS

Enterprise in action

ReCreate.ie

Reflects the Junior Cycle Business Studies exam, with exam-style assessment questions throughout

for Zing Ltd for

Sales

Gross profit

Source: United Nations Developme

and technologies

Reduce, reuse, recycle

Contains new case studies featuring new businesses and entrepreneurs

Income statement

Cost of sales

sustainable resources for products made using There is an increased demand recycled materials or include products made from and technologies. Examples replanted forests.

Links within chapters to other learning outcomes and key skills are clearly highlighted

s?

to its founding principle Is The Body Shop living up

Includes a range of activities mapped to key skills development and designed to promote active student engagement

FINAL ACCOU

(trading account)

+ Purchases

Sustainable resources

STUDENT TEXTBOOOK ●

2

income statement

Prepare an income statement for Zing Ltd for the year ended information: 31/12/2025 from the following › Sales €450,0 00 › Opening stock › Purchases €280,0 €5,000 00 › Closing stock €11,000

ENTERPRISE

l

education

ENTERPRISE

Example 1: Basic

Less cost of sales:

KEY SKILLS

The new Time for Business package includes: l

STRAND TWO

Opening stock

A new and updated edition of the market-leading Time for Business for the Junior Cycle. Written by a team of highly experienced teachers and authors, the new Time for Business package, is closely aligned to the specification, reflects the most recent Junior Cycle Business Studies exams and delivers streamlined and updated content based on teacher and market feedback. l

13 PERSONAL FINANCE

STRAND ONE

See Chapter 11 for personal financial life cycle

insured?

The answer is no; some risks are uninsura ble. In general, it risk where the insurer is not possible to cannot work out the insure a chances of a loss you can’t insure against occurring. For example failing an exam or , making a business uninsurable risk include loss. Other types losses that are certain of terminal illness who to occur,such as a person who has a is trying to take out life assurance. KEY SKILLS

9.19 Insurance compan y investment ethics

When you buy insurance , the insurance company a profit. Is it importan invests that money t to you that those to make investments are ethical insurance company or should the go for the best monetary return? #Discussion

#Opinion

Additional questions and activities to complement textbook content Contains exam-informed templates and formats for student practice Encourages active learning, self-assessment, reflection and revision Includes support for CBA preparation

Weblinks PowerPoint

109

210

210

www.edcopublications.ie

The Educational Company of Ireland ●

Time for Business Flyer .indd 3-4

06/02/2024 17:08


E

FR RCE BOOK

(SOLs)

g for, the of learning central to plannin statements principles, are inned by the eight Cycle programme.’ statements, underp ion of the school’s Junior available at ent evaluat ‘The twenty-four nce of, and the Cycle 2015 docum students’ experie in the Framework for Junior They can be found studies/key_documents. siness_ www.jct.ie/bu . s Studies Business to Business Studie are relevant to SOLs relevant learning that s in L1 (i.e. the statements of in a range of context Below are some

of means ely using a variety nicates effectiv in local and The student commu y English or Irish). and responsibilities school, normall citizen, with rights language of the to be an active what it means of The student values mental aspects ic and environ s. social, econom wider context and impacts of ands the origins underst The student live sustainably. her/him. motivation to SOL 9 the world around skills, values and ge, knowled consumer skills. the awareness, develops good in all The student has l decisions and SOL 10 understanding financia and d skills ge, informe atical knowled The student makes l uses of mathem SOL 14 ses the potentia deductions and The student recogni and draws valid . SOL 15 and processes areas of learning s empirical events s and evaluate The student observe skills. neurial 18 s entrepre SOL conclusions. ive and develop initiative, is innovat on. The student takes ion to realisati SOL 22 work and think an idea from concept communicate, The student brings tools to learn, SOL 23 digital media . technology and and ethical manner The student uses in a responsible and creatively SOL 24 collaboratively

SOL 1

SOL 7

.

school ts inside and outside learning by studen key skills’. d for successful ulum Online skills are require search for ‘Curric The eight key ation on key skills, For more inform

Eight key skills

BEING LITERATE MANAGING MYSELF

CATING

COMMUNI

WORKING WITH OTHERS

KEY SKI LLS

STAYING WELL

in ; participating s and services es pers, magazin adverts for product s documents, business in newspa ional s letters, busines w; reading about Writing busines national or internat nt, job intervie show what researching local, making a complai or websites to role plays, e.g. ising news reports; hics, presentations g and summar ; creating infograp or online; watchin presenting findings the economy. Being Literate businesses and s or and busines a about ed with saving they have learned ng risks associat d and s; making informe businesses; evaluati ing resource e do research on availabl initiative in what they could l decisions based Demonstrating reflecting on planning financia they consume; personal goals s and services borrowing money; of action; setting about the product a new course and planning responsible choices encounter a problem them. Managing Myself differently if they them achieve their plans to help understanding and preparing work of others; buying the their ng e try to influenc ethically, respecti ; that businesses tion legally and goods and services er; recognising Sourcing informa s about buying ibilities as a consum up to date with thoughtful decision rights and respons knowledge; keeping advertising; making impact on the ; sharing their decisions through about learning reduce their negative businesses can astic and positive being enthusi ing ideas on how Staying Well ments; generat business develop ses of how busines environment. an understanding position l trating financia demons assessing the terminology; and ing solutions; iate business g information s and suggest Using appropr or tables; analysin ing business problem know and new in words, graphs operate; research their analysis what they already on research; ions between and presenting of a business decisions based making connect online; making articles and in various forms; Managing tion they find of interesting data presented keeping copies analysing informa Information learning journal; information; critically and keeping a and Thinking their learning reflecting on insurance . ing relevant calculat are s; s account noting why they s; preparing busines to prepare and ld or a busines spreadsheets for a househo services are l decisions; using of goods and Preparing a budget make financia ing how prices g accounts to ; finding patterns and charts; calculat premiums; analysin ; problem-solving s; creating graphs logical thinking ly; using logical calculate account and supply; using g data accurate . ng and recordin through demand te ned decision s measuri Numera g, determi Being observin ents on a busines relationships; make judgem and describing opinions and s reasoning to form g different busines thinking and s ideas; imaginin problems that es; testing busines to sustainability ing solutions for products/servic t outcomes; suggest Generating ideas predicting differen mistakes. possibilities and learning from from their own; taking risks and Being Creative opinions differ businesses face; to those whose atively; ; showing respect ogy to learn collabor projects technol group ideas to ; using digital Contributing in group projects or service. with classmates or develop a product collaborating Working with to conduct research and through digital leading a group Others both in person business family; writing s and their teacher, tes, friends and g in role with other student s with classma ideas; engagin Communicating business concept to present their ng support best to how discussi facts technology; choices about views using ; presenting their and plans; making letters, reports ons and debates in class discussi Communicating opinions. play; participating present their technology to them; using digital

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TIME FOR BUSINESS

A New and Updated Package for Junior Cycle Business Studies

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ESS STUDIE

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INTRODUCTI

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TIME FOR BUSINE

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The Time for Business Teacher’s Resource Book provides all the support and planning material you need to teach Junior Cycle Business Studies. Provides comprehensive planning and assessment guidelines Includes Unit of Learning and Scheme of Work templates Solutions to all questions Contains more detailed information in the key learning section Suggested key learning, tips and teaching approaches

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TEACHER’S RESOURCE BOOK

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TIME FOR BUSINESS

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A New and Updated Package for Junior Cycle Business Studies

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BEING NUMERATE

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Digital Resources Teachers and students can access the Time for Business interactive e-book at www.edcolearning.ie, plus a bank of free digital resources, including: › Editable chapter summary PowerPoints › Engaging videos illustrating Business Studies in action › Step-by-step accounts that demonstrate accounting exercises and techniques › Solutions to all questions and activities in the Textbook and Student Activity Book › Interactive quizzes to consolidate learning › Editable Excel templates for drafting final accounts › Editable planning documents and templates › Additional questions and activity worksheets › Links to useful websites

The Educational Company of Ireland Please contact your Local Edco Representative to book a presentation and request a sample copy, Ph: 01-4500611, Email: info@edco.ie, Website: www.edcopublications.ie Time for Business Flyer .indd 2

The Educational Company of Ireland

2024

06/02/2024 17:07


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