TASK 11 Covered in PPT1 TASK 21 2.1 Importance of accounting for business operation

   

Added on  2020-07-23

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HOW BUSINESS OPERATE
TASK 11 Covered in PPT1 TASK 21 2.1 Importance of accounting for business operation_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2 ...........................................................................................................................................12.1 Importance of accounting for business success....................................................................15.1 Functions of HR department in business..............................................................................15.3 Key features of employment legislation...............................................................................2TASK 3............................................................................................................................................33.1 Interpret the information on profit and loss account.............................................................3TASK 4 ...........................................................................................................................................34.1 Self roles and others in team.................................................................................................34.2 Notes for supporting future training events..........................................................................4TASK 5............................................................................................................................................4Covered in PPT...........................................................................................................................4CONCLUSION .......................................................................................................................4REFERENCES................................................................................................................................5INTRODUCTION...........................................................................................................................1
TASK 11 Covered in PPT1 TASK 21 2.1 Importance of accounting for business operation_2
INTRODUCTIONBusiness environment can be described as combination of internal and external factorswhich impacts on various kinds tasks or procedures of an organisation. It is necessary to observe,analyse and evaluate these elements before operates any business. Motive of any company is togain better productivity as well as profitability of company (Dunning, 2014). This report is basedMark & Spencer which is British multinational retailer headquartered in City of Westminster,London. It was founded in 1884 by Sir Michael Marks and Thomas Spencer which deals inselling of clothing, home products and luxury food items to people at global level. Thisassignment will discuss about structures of different private or public organisations along withgoals or objectives. Significance of accounting, functions of HR, key features of employmentlegislation and many more aspects are described below. TASK 1 Covered in PPTTASK 2 2.1 Importance of accounting for business successEvery business must be aware about funds and capital of company because the wholecompany is based on money which is implemented to conduct several activities or tasks. It isnecessary to put an appropriate amount of funds in organisation to run business properly. Someof regular expenses are there such as raw material, electricity bill, wages or salaries toemployees, maintenance of equipments or machinery used in production and many more(Doppelt, 2017). If Mark & Spencer company requires to implement some kind of changes ormodifications as per changing trend of market then also they have to put desired amount ofmoney into organisation to follow market fashion. It is mandatory to follow scenario of marketplace to attract more customers along with retaining current ones to increase sales and profits ofcompany. This will facilitates to grab more market share ad build strong position in front ofseveral types of competitors. 5.1 Functions of HR department in businessHuman resource department can be described as that section of company which helps tomanage man power thorough allocating tasks or activities to staff member as per their field ofexpertise to gain desirable output. HRM have to make sure about requirement of employees
TASK 11 Covered in PPT1 TASK 21 2.1 Importance of accounting for business operation_3

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