Importance of Accounting for Business - Assignment
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Added on 2020-09-08
Importance of Accounting for Business - Assignment
Added on 2020-09-08
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How Business Operate
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................12.1 Importance of accounting for business success................................................................15.1 Different functions of HR department in business...........................................................15.2 Key features of employment legislation...........................................................................2TASK 3............................................................................................................................................23.1 Accounting workshop.......................................................................................................2TASK 4............................................................................................................................................34.1 An analysis on determination of roles of team members.................................................34.2 Team Development..........................................................................................................44.3 Need of leadership and motivational style in context with different situations...............54.4 The way leadership style and motivational skills are used to influence workers.............5TASK 5............................................................................................................................................6Covered in PPT.......................................................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONBusiness environment will include both intrinsic as well as extrinsic kind of components.For example clients, government, rivals and so on. This is essential to examine their influence onbusiness operations (Welford, 2013). With aid of this, firm will gather data and informationwhich is required to complete marketing activities. Present assignment is based on Tesco whichis operating their business in retail segment. They are providing effective services and productsto customers. Fundamental targets of superior of to set some targets which need to be getaccomplished by workers within limited period of time.TASK 1Covered in PPTTASK 22.1 Importance of accounting for business successTo regulate procedure of business in an effective manner, company requires properfinance. This is must for an enterprise to use available resources effectually; therefore, they willbe able to cater qualitative items to customers significantly (Casadesus-Masanell and Ricart,2011). There are several types of advantages which rendered accounting process to success aswell as prosperity:It is fundamental for finance unit to develop budget for each department so that they willbe able to perform overall business activities in a proper way.This is main responsibility of management to identify operational revenues which will begenerated through operations of business.An effective system needs to be utilized by firm; in this manner, they will be able tomaintain their market position with appropriate financial status (Mosco, 2014).5.1 Different functions of HR department in businessFundamental target of manager is to appoint talented and skilled manpower at workplace;thus, they will be able to complete entire business operations in an effective way. Henceforth,there are some types of activities which need to be executed by human resource and these arestated as beneath:Staffing: Aptitude test, group discussion and interview will be organised by manager ofan organisation to find out skills as well as capabilities of the candidate; therefore, they will beable to choose best one amongst many people. It is must for superior to allot roles and duties to1
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