How Does Business Operate?

HOW BUSINESS
OPERATE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Covered in PPT...........................................................................................................................1
TASK 2............................................................................................................................................1
2.1 Importance of accounting for business success....................................................................1
5.1 Functions of HR department in business..............................................................................1
5.3 Key features of employment legislation...............................................................................2
TASK 3............................................................................................................................................2
3.1 Interpret the information on profit and loss account.............................................................2
TASK 4............................................................................................................................................3
4.1 Self roles and others in team.................................................................................................3
4.2 Notes for supporting future training events..........................................................................3
TASK 5............................................................................................................................................4
Covered in PPT...........................................................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Business environment is a study of external and internal elements which have a major
impact on company performance. However, number of organization are emerging at marketplace
with various motives (Shenkar, Luo and Chi, 2014) . For example; private companies are depend
upon profit oriented policy whereas public are customer oriented. In fact, number of associations
are emerging with distinct purposes. Marriott hotel is most leading association in service industry
by having its branches across the international boundaries. Therefore, assignment is going to
highlight various businesses emerging at global market and their way of running business entity
by considering necessary elements such as; balance sheet, profit or loss account hence forth.
Role of HR team and other members towards development of an organization is also outlining in
this project.
TASK 1
Covered in PPT
TASK 2
2.1 Importance of accounting for business success
Management accounting have a major impact on a company performance because fund is
seen as most indispensable aspect for entire corporate world as business operations are
accomplished with the use of sufficient funds (Storey, 2016). In fact number of factors are
identified which shows that accounting is highly mandatory for business success that is described
as underneath:-
 Control loss:- Expenses and expenditure are recorded by finance department which helps
in managing funds in appropriate manner which resulted in regulating extra loss.
 Prepare budget :- As per this element company is focussing on designing an effective
balance sheet and plan to overcome the possibilities of losses.
Apart from this, management of accounting is useful in attaining set objectives by
managing funds of business entity in appropriate manner.
5.1 Functions of HR department in business
HR department of business entity are playing a major role in enhancing the sales
performance by recruiting and appointing employees in order to fill the vacant position of an
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