Accounting and Business Analysis | Assignment
Added on 2020-02-03
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ACCOUNTING AND BUSINESSANALYSIS
ContentsAccounting and Business Analysis......................................................................................................1Introduction..........................................................................................................................................3Task 1...................................................................................................................................................3Primary and secondary data collection sources...........................................................................3Questionnaires.............................................................................................................................5Findings.......................................................................................................................................6Task 2...................................................................................................................................................7Main financial statements............................................................................................................7Format of financial statements in different type of business.......................................................8Interpretation of financial ratios..................................................................................................8Task 3.................................................................................................................................................10Different types of costs..............................................................................................................10Costing methods........................................................................................................................11Budgeting methods....................................................................................................................11Task 4.................................................................................................................................................12Analyses of budget.....................................................................................................................12Unit cost calculation and pricing decision.................................................................................13Investment appraisal techniques................................................................................................14Sources of finance......................................................................................................................16Conclusion..........................................................................................................................................17References..........................................................................................................................................182
INTRODUCTIONBusiness analysis is the process of understanding the changing needs of the business andassessing the impact of these changes on the organization. Business analysts identify the internaland external working of an entity and accordingly they make modification in the firm so thatcorporation can achieve its objective soon (Ali and et. al., 2015). Accounting is the practice ofkeeping financial accounts so that appropriate decision can be made by the management for thewelfare of the organization. For present report Hilton hotel is being taken into considerationwhich is a leading brand in the hospitality industry. Current assignment will discuss the primaryand secondary sources of data collection. Survey methods, sampling techniques will be describesand questionnaire will be prepared in order to identify the performance of the Hilton hotel. Datawill be collected from managers of cited firm and finding will be summarized in the study(Armstrong, 2015). Main types of financial statements will be explained and comparison will bedone in formats of these statements for different type of business. Budget will be prepared andcosting methods will be described in this report. Investment appraisal techniques, unit costcalculation will be discussed in this study (Burk. and et. al., 2013).TASK 1Primary and secondary data collection sourcesData collection is the main tool through which information about the business performanceof the organization can be collected. Business analysts gather the relevant informationfrom several sources and use this information for the growth of the organization. There aretwo type of data collection sources (Jelsma. and et. al., 2014). Description of these is asbelow:Primary data collectionThis is called raw information which is gathered by the researcher for the fist time forspecific purpose. These are such detail through which internal drawback of the system canbe addressed and appropriate decision can be made by the management of Hilton hotel forimproving their performance (McPherson and Karney, 2014). There are several techniquesthrough which data can be collected such as observation, interview, questionnaire,schedules etc. All these technique are worthwhile but questionnaire is the best way throughwhich individual can get all information about the working performance of cited firm and3
can make changes in order to improve the performance of the company (Macintosh andQuattrone, 2010).Secondary data collectionThis is another type of techniques in which details are gathered by someone else earlier.The main advantage of using this technique is that data are already existing so Businessanalysts needs not to spend much time in collect the data. It is less expensive as compare toprimary sources. There are several techniques of secondary data collection such as Books,journals, internet articles etc (Lukka and Modell, 2010). These published data are availableon the government sites, public records so individual can use these detail for addressing theissues in the business. These are reliable, suitable and adequate information and can help inminimizing the problems significantly. Survey methods, sampling techniquesThere are many types of sampling techniques which can be used by the Business analystsof Hilton hotel. These are described as below:Simple random sampling: It is the simple process in which each individual gets samechange to get selected from large population (Scapens and Bromwich, 2010). In this toolall respondents can give their point of view about the subject matter that would help inidentifying the real position of the entity in the market. It is far away from bias soaccurate information can be gathered by this sampling technique.Stratified sampling: It is another type of technique in which population is divided intostrata. By this way wide range of information can be gathered by the Business analysts ofcited firm (Ahadiat, 2013). It assists in knowing about the working of the corporation andmanagement can make immediate modifications in order to improve condition of theorganization. It is very flexible and can be applied to many geographical areas.Cluster sampling: it is the type of sampling technique in which particular geographicallocation is divided into sub groups and these sub groups are called clusters. It collects theinformation geographically rather than demographically (Tucker and Parker, 2014).Survey methodologyIt is the type of method which is used by the Business analysts in order to gather in-depthdetail about the company. Questionnaire is prepared by the researcher and these questions4
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