How Business Operates

How business operates
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 2............................................................................................................................................3
Explain significance of accounting for success of organisation.............................................3
TASK 3............................................................................................................................................4
Present accounting information by adopting P& L accounts.................................................4
TASK 4............................................................................................................................................5
Describe team development theory........................................................................................5
Carry out assess to identify own and others’ roles in team....................................................5
Analyse three motivation theories..........................................................................................6
Hertzberg’s two factor theory.....................................................................................................7
Describe different types of style of leadership.......................................................................7
TASK 5............................................................................................................................................8
Describe the functions executed by HR professional of company.........................................8
Outline features legislation of employment...........................................................................8
TASK 6............................................................................................................................................9
Determine effect of user service on success of organisation..................................................9
Benefits of customer profiling for business............................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Business operation signifies activities and function in which the organisation increases
engagement on regular basis to enhance value of enterprise and earning profit margin. It is
helpful in generating revenue and also covers expenses of business organisation. In this report,
TESCO is taken. It is the international company provide wide range of products& services to
customer for satisfying them. There is a discussion regarding significance of accounting for
success of business organisation and various functions which is performed by HR manager in
company. In addition to this, the employment legislation is also explained in this report. There is
explanation regarding accounting information by using P&L and the stages which is used for
team development. Apart from this, there is an explanation in respect of motivational theory and
leadership style which is used for success and growth of organisation. And, it is also analyse that
effect of customer services on profitability of business organisation during the period of time
(Boone, Kurtz and Berston, 2019).
TASK 2
Explain significance of accounting for success of organisation
Accounting is important for success of organisation as it assists in tracking revenue &
expenditure and also makes ensure regarding statutory compliance to investor, administration
and government along with quantitative financial information that is adopted in taking decision.
Therefore, the importance of accounting in organisation that is given below:
Budget planning for every organisation, budgeting is determined as a key element as it
assists organisation to improve strategy to save money, assessing expenses that maybe exceeding
budgeted amount. For making appropriate budget, the company require several previous records.
This will be possible through record is maintaining by accounting. Therefore, in context of
chosen organisation, the management team make planning for budget of business organisation
that is helpful in taking decisions.
Record Keeping the company need to maintain record of every transaction to operate
organisation in smooth manner. For keeping record, the accounting is very important. These
kinds of records must be gathered, organised and operated in order to communicate to its end
user. Thus, the chosen organisation keeping record that helps in organising their business in
smooth manner.
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Decision making accounting is very important in taking decisions and the organisation
required financial statement. And, the financial statement is considered as a result of accounting
system for staff. Thus, the chosen organisation focuses on maintaining appropriate record related
to accounting that is helpful in achieving objective of organisation in timely manner.
Investors there are different stakeholder’s required financial information in context of
financial statement. For instance, the stakeholders needed financial information for investor,
government, and customer and for its employees. Thus, the chosen organisation need
information regarding investor that helps in increasing understanding regarding performance &
progress of organisation (Cosenz, 2017).
TASK 3
Present accounting information by adopting P& L accounts
The P&L account signifies financial statement which presents picture of loss and
expenditure in addition with profits that every organisation creates every year. The profit & loss
statement for chosen Company is given below
Figure 1: TESCO Profit and Loss Statement
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