NAMA : DWIKA YUNISA

NIM     : 042481149

DISKUSI SESI 1- Bahasa Inggris Niaga (ADBI4201)

1. What is a Business Cycle?

2. What benefits can a business have when he knows the business cycle of his
business? 

3. What month of the year is the best to open a business in your opinion? 

ANSWER:

1. What is a Business Cycle?

The business cycle is also known as the economic cycle or trade cycle. In simple
terms, the business cycle can be interpreted as a series of economic conditions that
occur repeatedly, constantly, and regularly in a certain period. Although repetitive,
the length of the business cycle cannot be predicted or determined with certainty.
The variable used as a measure of the business cycle is the real Gross Domestic
Product (GDP) growth rate. Economic fluctuations in each country occur between
periods of expansion and contraction. Changes in economic conditions are caused by
the level of employment, productivity, and demand for the supply of goods and
services in a country. In the short term, these changes have less of a positive impact
on economic growth, as they cause the country's economy to enter a period of
expansion and recession. However, in the long term, a fluctuating economy can
trigger economic growth, because the authorities of a country can have the
opportunity to increase its potential output from time to time.The business cycle can
also be understood as a type of fluctuation in the aggregate economic activity of
various countries, which consists of expansion, recession, contraction, and economic
revival. The duration of a business cycle varies widely, from the shortest of more than
one year to the longest of ten to twelve years. Although fluctuating, the period of
occurrence cannot be predicted with certainty. This means that although the
business cycle is a series of recurring economic conditions, the period of occurrence
of the repetition cannot be ascertained within the same period of time.

2. What benefits can a business have when he knows the business cycle of his
business? 

a. Deliver useful information for business planning

The application of the MSME accounting cycle can provide useful business
information for the business actor himself, especially in terms of finances that occur
in the business.This information can help business people to determine the right
strategic steps to develop their business.In addition, this accounting information is
also useful for making investment and credit for the business.

b. Knowing the financial position of the business

The accounting cycle can provide information about the financial position of an
ongoing business.Entrepreneurs can see a list of sales and purchase transactions that
occur in the business they manage.That way, the entrepreneur can find out the
amount of capital at that time, the amount of debts and receivables he has to the
value of the assets in his business.

c. Provide an overview of the company's balance sheet

The existence of accounting records in a business makes it easier for business owners
to find out the advantages and disadvantages of their ongoing business. Currently,
MSME actors only keep simple records of the cash inflows and outflows in their
business.However, if you apply the accounting cycle as a whole, the business owner
can know as clearly as possible the amount of profit, the amount of loss, the amount
of capital, and the amount of debt in his business.

d. Simplify the calculation of business taxes that need to be reported

Micro, small, and medium scale businessmen including taxpayers who need to report
and pay business taxes.Tax reporting will become less smooth when business people
do not have neat and precise company financial records. This is because a
businessman does not know the amount of tax he needs to pay because there is no
neat and correct income report.When a businessman applies the accounting cycle in
his MSME, he will know the amount of net income that his business has so that he
can calculate the amount of tax he needs to report and pay each period.Business
owners can use the help of a tax application if they already have a neatly structured
financial report but are confused about calculating the taxes they need to pay.

e. Provide data information regarding business performance

By knowing the cash inflows and outflows, listing the transactions that occurred
during the course of the business, and looking at the company's financial condition
from this accounting cycle, the business owner will get an overview of his business
performance.

 Is your business having a good development or not?

3. What month of the year is the best to open a business in your opinion? 

Summarized from the opinion of Michael Lazerow (CEO of Buddy Media), here are
the best times to set up a business:

1. The Best Time Is While You Are Young

The best time to set up a business empire is when you are young. Youth is filled with
enthusiasm and high creativity. Although he still lacks experience and often makes
wrong decisions, experience will make him stronger in the future.

2. The Best Time Is When You Are Not Enjoying Your Current Job

If you feel bored, don't enjoy it, and often want to run away from your job, then
that's the right time to start thinking about building your own business. What is the
meaning of a large salary if you are not happy with your job duties. So, take the time
of your evening to compile an accurate business plan and strategy.

3. The best time is when you get fired or leave the company

You may feel very shocked when you get a layoff letter or have to leave the
company. It definitely forces you to self-reflect and examine all aspects of your life.
But be optimistic, and believe that it is the best time to be self-employed. Indeed, it
will feel very strange when you have to adapt from your habits as a worker to the
level of being a big boss candidate.

4. The Best Time Is If You Can Focus

The best time to build a company is when you have the opportunity to focus on
growing your business. This aspect of focus usually concerns how much responsibility
you have.

The more number of responsibilities you have (for example, responsibility for your
family, responsibility for college matters, responsibility for the organization you join,
etc.) will make your focus divide, making it less appropriate to start entrepreneurship.
So, when you can focus on your business, that is the best time to start your business!

5. The Best Time Is When You Have An Incurable Obsession

Do you work for a company? But you are always, always, and always haunted by your
brilliant ideas to build your business concept? You can't concentrate and obsess over
running the company on your own? If that happens, just get action to build your own
business!
6. The Best Time Is When You Are At The Intrapreneur Level

Entrepreneur means entrepreneurs, while intrapreneurs are professional

7. The Best Time is Today

Many large companies were started at times when the economy was gloomy.
Therefore, don't wait for tomorrow, a week, two years, or after you get your
bachelor's degree. Do it now! You should pay attention to the meaning of "The
Power of Today", that is, if you miss today, then the 75% chance will be missed
forever! So, immediately look for opportunities and do it now!