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Importance of Accounting in Business- Doc

   

Added on  2020-12-31

10 Pages2302 Words20 Views
How business operates

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1[Power point presentation].................................................................................................1Different types of the organisation which comes under the public as well as private sector.....1Types of the organisation structure in the businesses.................................................................1Impact of the business on local, national and regional level of economic environment.............1TASK 2............................................................................................................................................1Importance of accounting in the business...................................................................................1Several functions carried out by the HR department..................................................................2Features of the employment legislation......................................................................................2TASK 3............................................................................................................................................3Interpretation of the profit and loss account...............................................................................3Role of the leader in the business ..............................................................................................4stages of team development........................................................................................................4Three motivation theories...........................................................................................................5Different types of leadership styles.............................................................................................5Impact of the customer service on the business.........................................................................6Benefits of the customer profiling...............................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONBusiness is operating by performing all the activities which are necessary to perform torun smoothly. In these Marks and Spencer is dealing with the retail's sector. This report willdiscuss importance of accounting for success of the business. It will also study several functionswhich are performed by the Human resource department. There will be discussion of the featuresof the employment legislation. It will explain about profit and loss account. This report willillustrate the role of the leadership and its impact on business unit. TASK 1[Power point presentation]Different types of the organisation which comes under the public as well as private sectorcovered under pptTypes of the organisation structure in the businessescovered under pptImpact of the business on local, national and regional level of economic environmentcovered under pptTASK 2Importance of accounting in the businesssignificance of the accounting in the business are :Report profit - in business importance of accounting to determine profit of the year. Thisis one of the motives of entity to earn profit. Accounting will tell about the financialposition of the company. For finding out the financial position statements which areneeded to prepare are income statement, balance sheet etc. from all these documentsturnover of the company is determined. It will help in knowing the total spending aredone in financial year and profits generate (Castrogiovanni and et.al.,2016).Recording of the transactions systematically- through accounting only organisation isable to record its transactions in system. If transactions are recorded in that casewhenever people need information about past it will automatically find out by the entity. Finding performance of the business - it supports in finding out the actual position ofbusiness. This is one of the way through which owner, investors, shareholders review itpositions. It is one of the important information which shows that company is running its1

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