An evaluation of the business information used to make strategic decisions at Tescos

Authors Avatar by humzah2013hotmailcom (student)


An evaluation of the appropriateness of business information used to make strategic decisions….



Finance function includes keeping the records of financial activity, for example, sales made by the business. It provides managers with information that they can use in decision making, for example, the cost of creating products. The chief accountant supervises the work of the accounts department. The managers need to be constantly aware. Accounts can be divided into two sections: Financial accounting which is responsible for keeping records of financial events as they occur. Management accounting which is responsible for supplying information that helps managers make decisions. This includes working out production costs. The finance function requires information relating to finance like the money spent and the money coming in the business. The finance even uses the information about how the money is being made by the business.

 Tesco has a finance function. The finance function records all the sales made by Tesco. In finance the mangers are provided with information and then they decide the cost of creating a product in Tesco. In Tesco the chief accountant supervises the work of accounts department. The financial accounting keeps records of financial events in Tesco like the sales of the products in Tesco. The management accounting in Tesco supplies information to the manager which helps him or her to make decisions.  The manager then works out the production cost. The management accountants of Tesco set out the budget for Tesco.

Join now!

 They require the verbal information, and written information of all the sales figures. The decisions made by the finance function are the decisions relating to the money. Tesco looks at what sort of product is being made and then they spend money on making it. They even look if the information they got about the money their business has and the sort of profit this product will make. Then they take a decision if they are capable of making this product or not.

 The information they use to make decisions is appropriate because they have public search. They have ...

This is a preview of the whole essay