Essay on Level 3 Business Unit 6

| The customers would be influenced because if the company are financially struggling the customers are there only hope to stay profiting. If the company was to go bust it means customers will no longer be able to shop there. The customers would be an external stakeholder, they can get information by advertisements and even check their annual report on the businesses website.

1. Identify four main points that would be included in a contract of employment. If possible, use an example contract to support your answer (feel free to obscure any confidential information).

Legislation is a law or act which has been enacted by a governing body. Legislation can have many purposes: to regulate, authorize, provide (funds), declare or to restrict. Legislations are important throughout any work environment and society as without them we are not protected from

Telephone – A telephone maintains a few different features rather than just receiving and making calls. At work the phones that we use are often different to

1. In relation to your current business environment (or one that you are familiar with), identify at least two different types of information technology that may be used when completing work tasks.

Legislation is a law or a couple of laws made by the government and finalised by the parliament. The parliament decides whether the legislation is good enough or needs improvement.

There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.

• The first thing you need to do is save a copy of this document, either onto your computer or a disk

Please note that this Assessment document has 8 pages and is made up of 7 Sections.

A way of doing this task efficiently would be to keep a log setting out of the roles that you and the other members of the team have within the team in which you are working as a part of.

M1 - Compare the purposes of the different documents used in the selection and recruitment process

M2(Unit 37) - Assess the social implications of business ethics facing a selected business in its different areas of activity

Financial accounting regulations are the laws and principles that are governed by regulators to protect investors’ confidence and to promote financial stability. The regulators are directly involved in setting harmonized standards for the execution of efficient operations and to facilitate management in making effective decisions. The regulators are directly involved in regular inspection and investigation and will take strong action against any misconduct.

Prudence is the normal accounting practice to fully recognize losses as soon as they become apparent but not to recognize revenues until they are certain. In more recent times the prudence concept has become known as the ‘ realizations principle’ in that only gains that have been ‘realised’. Unrealised gains would not be recognized until the value is realized through its sale. (Financial and Accounting for business by Bob Ryan p.108)

Accounting is the art of recording transactions in the best manner possible. Accounting Standards are the policy documents issued by recognized expert accountancy bodies relating to various aspects of measurement, treatment