P1 Describe the purpose of accounting for an organisation What is accounting Accounting is a recording‚ reporting‚ and analysis of financial transactions of the business. The person which is in charge or accounting is known as an accountant‚ this person is specifically in charge to follow rules and regulations‚ such as the generally accepted accounting principle. Accounting lets businesses to analyze the financial performance of the business‚ and look for statics such as net profit.
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BUSINESS FUNCTIONS “A mission statement describes an organisations basic purpose”. Using examples illustrate your answer; explore the idea that mission statements should reflect an organisations purpose. Introduction This essay is aimed at understanding what a mission statement is‚ why they are made and whether or not it reflects an organisations purpose. The essay will start by defining mission statements it will also be describing
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Unit 2: Business resources P1: Describe the recruitment documentation used in a selected organisation. If Tesco are looking to recruit workers to be behind the till and on the shop floor‚ first of all they will advertise the job role‚ they can do this in many ways today. They can advertise the vacancy in a newspaper‚ posters‚ website‚ web adverts. As the job role does not require very skilled and qualified people‚ the recruitment process will be a lot faster. When Tesco advertise the vacancy they
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The main reason why need to explain anything about business organisations because they are the objectives to the profit and there is a need for them. The markets need different type of businesses for different products or services and they need different leadership that will mean that the business organisation should be different too. The organisations are existing to provide services or produce something that people want to consume. They are organising the company over the customer need‚ what mean
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Unit 1 Business Purposes BTEC Level 2 First Business Assessment Resource Pack Sample learner work and assessor comments Commentary for tutors Sample learner work and assessor comments follow for the assignment A1 Local businesses and industry sectors (P1‚ P2‚ P3‚ M1‚ M2). This unit of work introduces learners to the world of business. All of the target assessment and grading criteria for this assignment have been met (P1‚ P2‚ P3‚ M1‚ M2). This assignment is one of three assignments. The other
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NHS P1.Identify the purpose of Different business organisations NHS was launched in 1948 to give residents of England health care such as surgery‚ treat coughs and colds and to provide end of life care. The NHS till today still provides a free health service for the UK residents. The NHS covers over 62 million peoples health in the UK this shows us that the NHS is an important part of the UK‚ there are 103‚912 hospital and community health services in the UK. NHS are a large organisation and
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Jones Table of Contents The purpose of accounting 3 The objective of accounting 3 Important to the company 4 Accountant ’s integrity 5 Technologies impact on the accounting profession 5 Conclusion 6 Bibliography 7 Accounting for Non-Accounting Majors The purpose of accounting Is to gather and report financial evidence about the cash flow‚ performance‚ and financial position of that business. “Once this information has been entered into the accounting records‚ it is then made into
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Purpose of Accounting Accounting is a service activity. Its function is “to provide quantitative information‚ primarily financial in nature‚ about economic entities that is intended to be useful in making economic decisions in making reasoned choices among alternative courses of action” (Raiborn‚& Watson 2003). The main purpose of accounting focuses on the preparation of pertinent financial reports‚ which will give internal and external parties the essential information that is needed to access
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Unit 3 P1 P1 – describe how marketing techniques are used to market products in two organisations. Overall concept: The main thing behind marketing in a business is finding the customer’s needs and produce the product/ services to satisfy their needs‚ this way the customer can choose what they would want included in their product/ service. A business that follows this rule is market-orientated. There is alternatives orientation for businesses‚ these are; The production concept: This is where
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Task one‚ P1. The Main Purpose of Accounting Keeping track of transactions and recording revenue and expenses are an important process‚ often assigned to an accounting department or a financial manager. Accounting allows companies to provide reports and insights needed to make sound financial decisions. The main purpose of accounting is to identify and record all activities of the income and the outcome that will affect the organisation financially. All activities‚ including purchases‚ sales
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