BTEC Business Level 3 Subsidiary Diploma 2015
Task 1 (P1) Deadline: Monday September 30th 2015
Your line manager has asked you what you think the accounting department’s role is in
relation to the company. You need to produce a fact sheet to be given to new staff that
describes the purpose of accounting for the Phone Hut.
Your fact sheet must include the following:
•
Define what accounting is
•
Describe the purpose of accounting including:
i.
The need to record transactions
ii.
The requirement to monitor activity
iii.
Management of the business
iv.
Measurement of financial performance
•
Describe what would happen to the business if (i) to (iv) were not done
•
Describe who the key users of accounting information are and what their
requirements are