SYLLABUS

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Commerce
Occupation
Production and Trade
Purchase and Sales of Goods
Aids-to-Trade
Business Units and Financing Business
Trade Associations
Legal Aspects of Business
Information and Communication Technology (ICT)
Business Enviroment and Social Responsibility
Money and Stock Exchange
Elements of Business Management and Marketing



Introduction:
i. Meaning, scope, and functions of commerce
ii. History of commerce in Nigeria.
Occupation
Classification of occupation:- Industry, Commerce, Direct and Indirect services.
Production:
Definition, factors of production, specialization/division of labour. Interrelationship between production and exchange.
Trade
Purpose and branches of trade – Home trade and Foreign trade.
a. Home trade:
i. Retail trade
- Functions of the retailer, factors to consider in setting up a retail trade.
- Small and large scale retailer.
- Modern trends in retailing:- Branding, Self-service, Vending Machines etc
- Main characteristics, advantages and disadvantages of each type
ii. Wholesale Trade:-
- Types and functions of the wholesaler
- Arguments for and against his elimination and survival
- Kinds, importance and functions of warehouse
- Channels of distributions
- Functions of and types of agents.
b. Foreign Trade:
Meaning and advantages of Foreign trade, Export, Import and Entrepot (visible and invisible items)
- Barrier to foreign trade
- Procedures and documents used in foreign trade
- Concepts in foreign trade:- Terms of trade, balance of trade, balance of payment, counter trade.
- Functions of the Custom Authority
- Export Promotion Council
Business Units:
(i) Forms of Business Units:- Sole proprietorship, Partnership, Public and Private Limited Liability Companies, Cooperative Societies and Public Enterprises.
(ii) Meaning, Objectives, Formation, Sources of Capital, Characteristics, Advantages and Disadvantages of the above (i)
(iii) Dissolution / Winding up
Trade Associations:
Trade Association and Chambers of Commerce.
- Aims and functions
- Employers Association, Consumers Association and Manufacturers’ Association.
- Aims and functions
- Consortium, Cartel, Amalgamation, Trust & holding – meaning and reasons for their formation.
Business Capital and Profit.
a. Capital
(i) Meaning and types – Authorised/Registered/Norminal/Issued/Called up/Paid up/ capital owned/ Capital employed/Liquid/Circulating capital.
(ii) Calculation of working capital and its importance
b. Profit
(i) Profit – meaning and types (gross and net)
(ii) Calculation of gross and net profits, calculation of gross or net profit percentage on turnover.
(iii) Turnover – meaning and importance, and its calculation. Variations in different types of business.
Buying and Selling of goods:
(i) Essential documents: - Letters of inquiry, invoice credit and debit notes etc.
Trade terms and Abbreviations:- Trade and cash discount i.e. C.I.F., Franco F.O.B. etc.
Terms of Sales:
(a) Cash: Spot cash, Prompt Cash, Cash on Delivery (COD), Cash with Order (CWO).
(b) Credit: Meaning and functions, Sources of Credit, Credit Instruments.
(c) Hire Purchase: Meaning, Features, Advantages and Disadvantages.
(d) Deferred Payment: Meaning, Features, Advantages and Disadvantages.
(iv) Means of payment:- Legal, tender, cheque, standing order, bank draft, postal and money order, Bill of Exchange and Promissory note.
(v) Credit:- Meaning, types, sources and functions of credit.
Credit Unions and Thrift societies:- meaning, Aims, formation and services provided.
Finance and Financial institutions:-
(i) Money:- Meaning, Forms, Qualities and Functions.
(ii) Banks:-
(a) Types of banks – Central bank, Commercial banks and other specialized banks :- Industrial Development bank, Agricultural Development bank, etc
(b) Types of Accounts:- Current, saving and fixed deposit accounts and their main features.
(iii) Stock Exchange: Meaning, Functions and Importance, Organisational Set up, Procedure of transactions, and Speculations (Bears, Bulls, Stags, Jobbers & Brokers).
(iv) Second tier Security Market (SSM):- Meaning, Advantages to both companies and public investors, and operating regulations.
(v) Insurance:
(a) Meaning of insurance and its importance to business and individuals.
(b) Basic principles of insurance:- Utmost Good Faith, Insurable Interest, Contribution, Subrogation, Indemnity, and Proximate Cause.
(c) Types of insurance – Fire, Marine, Life, Fidelity, Group, Personal Accidents, Export credit etc.
(d) Underwriting: Reinsurance Corporation of Nigeria
(e) Role of insurance brokers and agents.
Transport and Communications
(a) i. Transportation:- Meaning and Importance
ii. Forms of transport:- Land, Water, Air, Pipeline their advantages and disadvantages; and documents involved in each.
iii. Ports Authority:- Functions and relationship with the department of Custom & Excise.
iv. Nigeria Airport Authority:- Functions and relationship with Nigerian Airways.
(b) Communications: Meaning and functions:
i. Nigerian traditional means of communications e.g gong, drums etc.
ii. Postal, Telegraphic and Telephone services provided by NIPOST and NITEL
iii. Courier services.
Introduction to Marketing.
(a) Marketing:-
(i) Meaning, Importance and Function
(ii) Marketing concept, Marketing mix Iie the four marketing Ps:- Product, Price, Place and Promotion).
(iii) Market segmentation and consumer sovereignty
(b) Advertising:-
(i) Meaning, role and types (informative, persuasive, competitive, mass and specific).
(ii) Methods (direct and indirect):-
(iii) Media (Cinema, Window display, Catalogues, Bill board) etc
(iv) Merits and demerits of advertising
(v) Consumer protection advertising.
(c) Public Relations and Customer services.
(i) Public relations:- Meaning and importance
(ii) Customer service:- After sale service, home deliveries etc.
(d) Sales Promotion – Trade fairs, exhibitions, gift and demonstration
(e) Personal Selling – Meaning and uses.
Introduction to Business Management
A. Business:
i. Meaning and objectives of business
ii. Business resources (Human, Money, Material and Opportunities)
B. Management of Business:
i. Business and its environment
ii. Social responsibilities of business (scholarship award, sponsoring educative programme on TV & Radio, provision of social amenities)
C. Structure of Business.
(i) Organizational set-up (ii) Authority (iii) Responsibility (iv) Span of Control
(v) Inter-intra departmental communication.
Legal Aspect of Business
(a) (i) Branches of Commercial Law: e.g Sale of goods, Contract, Agency, Hire Purchase
Rights and Obligations of the employer and the employee
Government regulations of business (registration of business, patent, trade – mark, copyright).
(b) Consumer Protection
(i) Need for protection
(ii) Instrument for protection
(a) Legislative: - Trade Description Act of 1968, Sale of Good Act of 1978, etc.
(b) Regulatory: - Standard Organisation of Nigeria, Food & Drugs Department of Ministry of Health, Rent Tribunal, Consumers’ Association, Producers’ Association Price Control, Sanitary Inspectors, Environmental Protection Agencies. etc.
Nationalization, Indigenisation and Economic Grouping in W/Arica
(a) Nationalization: Meaning, Aims, Advantages and Disadvantages.
(b) Indigenisation:- Meaning, Aims, Advantages and Disadvantages.
(c) Economic Grouping in West Africa:-
(i) ECOWAS (ii) Niger Basin Commission (NBC) (iii) Lake Chad Basin Commission (LCBC), their history, member countries, objectives and obstacles.