Administration in Business

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4 parts to administration

1) STORING - Info can be stored for future use using either electronic or paper-based filing systems

2) PROCESSING - Info can be processed to generate new info e.g. sales figures can be processed to help decide future production levels

3) RETRIEVING - Stored info often needs to be retrieved + used again e.g. last year's figure to compare with this year's

4)DISSEMINATING - Info often needs to be disseminated (distributed) to other people + organisations

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Tax

Value Added Tac (VAT): depends on the dif between the price a business charges for its products + the amount it costs to make = accurate records of what's been paid to suppliers + received from customers

Income Tax + National Insurance: depends on how much employees are paid

Corporation Tax: depends on how much profit a business makes = sales figures + total spendings info is needed

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