An assessment of the potential impact of an aspect of impending legislation on the operations and financial position of an organisation.
“The improved knowledge of the impending legislation and the broad level application in the beginning of the preparation for the RAP paired with good knowledge on the general operation (especially the operations that are under direct or indirect impact of the impending legislation) of the selected company and the guidance of a highly qualified mentor are the keys for successful passing of the RAP under topic 3.”
The process of creating and/or enacting laws is known as legislation. Topic 3 requires the student to evaluate the different aspects of the operational and financial position of the company that is under the direct or indirect influence from an impending legislation.
For the purpose of topic 3, the student needs to have adequate knowledge of the impending legislation and to have a broad idea of the possible impacts of this kind of legislation before proceeding with the RAP. The general idea of the possible impact of the impending legislation in the beginning of the RAP will enable the student to be more dedicated to the approach that will keep them on the right track from the beginning until finalization of the RAP under topic 3.
Within the requirements of topic 3, the student will have to implement the theoretical knowledge that was gained through the various ACCA papers, paired with the right approach from the beginning under the mentorship of a highly qualified Mentor that will provide guidance in the proper manner. Further, the student will need to understand the general operations of the selected company in a manner that allows for the proper interlink of the impacts of the impending legislation in both quantitative and qualitative terms.
There is not a recommended approach for this topic, and the general approach may vary upon the impending legislation and the overall impact. Therefore, our mentor will provide proper guidance in order to explore your capabilities that will enable you to successfully pass the RAP under this topic.
- Assessing the impending legislation of the selected company;
- Discussing the possible impacts of the impending legislation on the different operations of the selected company;
- Identifying the different advantages and disadvantages of the impending legislation on the particular operations of the selected company;
- Providing a quantitative and a qualitative analysis to properly support the mentioned aspects; and
- Maintaining a good balance when explaining and analyzing the different aspects that are required for this topic.
Key Factors for Success
- Fair knowledge of the basic concepts of the Law;
- Intricate knowledge of the impending legislation;
- Detailed knowledge of the different operations of the selected company that are under direct or indirect influence of the impending legislation;
- Correct linking of the main aspects of the impending legislation on the general operations of the company;
- Appropriate application of the selected goals and objectives set upon in the beginning of the RAP in the proper sections of the RAP;
- Adequate answers on the research questions that were set in the beginning of the RAP in the proper section of the RAP;
- Applying a good research methodology to get good results on all the selected goals and objectives that were set at the beginning of the RAP;
- Maintain a logical flow of the discussion by keeping all the important requirements of topic 3; and
- Give logical conclusions to the work at the end of the Research Report by also having in consideration all the prescribed requirements for this topic.
Major benefits of choosing this topic
- The student can implement the theoretical knowledge in a practical situation;
- The student will discover major aspect about the impending legislation; and
- The different techniques acquired under this topic will have great significance to the student in their professional life.
Major possible limitations faced by the student under this topic
- The student may not be welcomed by the management of the selected company, and may not be provided with all the necessary documentation (due to confidentiality issues or lack of authorized personnel);
- The student may face a lack of relevant information from reliable secondary sources, due to inadequate research approach, or may face lack of ideas to improve the RAP;
- The key aspects of the impending legislation may not be discussed in detail as are the requirements of this topic by OBU; and
- The student may face confusion by the possible contradiction in the gathered information provided by the primary sources against the results of their actual research work via secondary sources.
Suitable organisation under this topic
The most appropriate company for preparation of the RAP under this topic is the one for which the students has adequate access to the management and such where the management is able to provide the necessary information. The proper selection of the most suitable organization is very important, and the student needs to have a proper understanding of the sector where the company operates. Upon their knowledge on the company and sector, the student can connect the different aspects of the overall operations of the selected company and will be able to effectively fulfil the requirements of the topic and get good grades on their RAP.
The student will need to evaluate these aspects in the choosing for a company for their RAP:
- The personal interest of the student to the general business of the selected company (of great importance for topic 3);
- Access to primary sources of information (of great importance for topic 3);
- Access to reliable secondary sources of information;
- Knowing the general operations of the selected company (of great importance for topic 3);
- Knowledge of the sector in which the selected company operates;
- Access to adequate officials from the selected company (of great importance for topic 3); and
- A general idea of the requirements of the selected topic in the beginning of the RAP and their proper application in the selected organization.
Suggested approach for this topic
The student needs to set an adequate plan from the beginning of the work in order to effectively finish all the necessary tasks. The student will need to clearly understand the major requirements of the topic and to analytically evaluate all the necessary aspects by outlining a detailed strategy. The student will need to decide what approach he/she will follow in order to meet all the necessary requirements of this topic from the beginning of the RAP.
The student will need to prepare the table of contents for the RAP under topic 3 in a logical manner. The table of contents will enable the student to stay on the right track from the beginning of the work and also help the student in creating a proper timetable and estimation of the necessary time to complete each task for the RAP.
After finalizing the table of contents of the RAP under topic 3, the student will need to start work in a logical manner to gather the necessary information. The student has to logically and analytically evaluate the gathered information by consulting the Project Mentor. The feedback and proper guidance from the Project Mentor on many aspects of the RAP are of great importance for the proper completion of the RAP.
As there is no uniquely correct approach for the creation of the RAP under topic 3, the broad level approach described here is the start. The detailed approach depends on the student’s plans that were made at the beginning of the preparation of the RAP in accordance with the available information on the selected company. No matter the approach the student will choose to follow, the guidance from the Project Mentor along every step of the process has an important influence in preparing a quality RAP and getting good grades.
Availability of Information
The student will have to create their RAP from the information provided by the management of the company ( the primary source of information), in relation to the information gathered from reliable secondary sources of information (internet, newspapers, books, etc.). The availability of primary sources of information has essential importance for topic 3, as this topic can’t be completed without the specific primary information. The student needs to be certain that he/she has access to information provided by the management of the selected company and there are no confidentiality clauses behind these.
The student needs to analytically approach topic 3 and all the prescribed requirements and the availability of primary sources of information before making a decision to base their RAP on this topic. If there are doubts on any of these factors, the student should not choose this topic for their RAP, as these factors have a very big influence on the evaluation of the RAP and their final grades.
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