mfg Guest Speaker at #TeamKC 06/12/2019

BUSINESS & ACCOUNTING

Accounting is the language of business, and business greatly depends on accounting. These two sectors go hand in hand, master one and reap the rewards in the other. The role of an accountant is vast.

They record, classify, summarise, interpret and communicate all of the financial information about a business, without which, that business would fail to run. Our first year students have just embarked on their journey into this lucrative career and have to master a variety of complex laws, rules and procedures. We were lucky enough to have Abbey Jones from regional law firm mfg, pop in to talk to our students about the basics of employment and company law.

ABBEY JONES – PROFILE

Abbey joined the firm in 2017 and is a Trainee Solicitor currently in her third seat within the Firm’s Corporate Division and is based at the Kidderminster office.

AREAS OF EXPERTISE

Abbey assists with a variety of corporate and commercial transactions including share/asset sales and acquisitions, joint venture agreements, shareholders’ agreements, company formations and company secretarial work.

Abbey obtained her First Class Law degree from Nottingham Trent University in 2015 and subsequently completed the Legal Practice Course at the University of Law in Birmingham in 2017. Abbey has recently been appointed as a National Representative for the Worcestershire Junior Lawyer Division.

mfg

“With offices across the West Midlands, we are one of the oldest established solicitors in the country, tracing its roots as far back as 1556. We provide a range of legal services for personal, business and rural matters.

We know that every case is different, and we offer specialist teams for each service.”

Abbey kindly gave up her time last Friday (29th) to deliver a Q&A session and answer questions in relation to company and employment law.

She commented on how knowledgeable the learners were, especially as it is a very complex subject to learn.

What is company law?

If you imagine doing business without any legal means to protect your best interests, you’ll understand why the rule of law is important to business. The rule of law gives everyone a framework for how to act and operate. It holds people, businesses and government accountable for their actions.

Without predictable rules and patterns to follow, doing business would be chaotic. You would never know how another party would act in any given situation and it would be all too easy to be taken advantage of. The rule of law provides much-needed stability, consistency and certainty in a potentially volatile landscape. With the guidelines for universal acceptable behaviour clear and universal, it’s a lot easier to ensure that organisations act predictably and responsibly.

More information

Company Law can be a bit of a brain-frazzler, check out this website which tells you the basics

EMPLOYMENT LAW

Employment Law naturally comes along with Company Law; after you’ve set up your business, you ideally want to employ a team of staff. So understanding the basics of Employment Law is a crucial aspect of starting and running your own business.

What is employment law?

Employment law is a broad term that covers all aspects of employment.

It could refer to everything from your contract, through to laws which safeguard against discrimination and unfair dismissal.

Why does employment law exist?

Employment law exists to regulate the relationship between businesses and their employees.

By complying with relevant legislation, both employers and their staff members can ensure that their hiring processes, dismissal processes, and their workplace as a whole, are fair for every individual.

Employment law also helps us combat discrimination, and effectively promote equality at work.

What does employment law cover?

Some examples of what’s covered by employment law include:

Age discrimination
Bullying and harassment
Disability
Discrimination based on race, religion, sexuality or gender
Dismissal and employee grievances
Employment contracts
Equal pay
Minimum wage
Parental leave
Redundancy
Working hours

However, this is by no means an exhaustive list, and employment law is used to protect the rights of employers and their employees in a number of other ways.

CAREERS

Once you have our Accounting & Business qualifications under your belt, the world is essentially your oyster! There are many, many routes you can take your career towards; but the two main branches are accounting and starting your own business

ACCOUNTING

With opportunities such as Full time employment as an Accounts Assistant, Accounts Administrator, Purchase/Sales Ledger Clerk, Trainee Accounting Technician, Trainee Finance Assistant.

BUSINESS

Our course gives you the knowledge to start your own business, taking this route has many benefits, including:-

Rewards. Not everyone defines reward the same way. For some it might be seeing a new venture grow and succeed. For others it may be conquering the unknown and striking out on their own. However you define reward, starting a new company might hold that promise for you.
Being your own boss. When you start a business and are self-employed, you are your own boss and ultimately control your own destiny. Whether you view starting a business as an economic necessity or a way to make some additional income, you might find it generates a new source of income.
Flexible hours. Owning your own business is hard work and often requires long, odd hours. In some cases, having your own business may allow you to have more flexible hours. Many stay-at-home parents, for example, choose to become entrepreneurs.

STAY SOCIAL

COURSE INFO

If you’d like to find out more about our Accounting & Business courses, head over to our FULL TIME course page.

Kidderminster College