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Unit 6 - Financial Accounting D1
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Unit 6 - Financial Accounting D1 D1 justify the application of accounting conventions and regulations to ensure that the financial statements meet their users’ needs
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Abdulalah Al-JoboreUnit 6: Financial Accounting
D1
D1 Justify the application of accounting conventions and regulations to
ensures that the financial statements meet their users’ needs.
The influence of Marks and Spencer’s stakeholders
Shareholders
Shareholders are always looking for share prices to increase and to have much higher profit each
year. In addition, they are interest on how well the business is performance and their reputation of
their business, as they want the business to be successful. Shareholders can influence the business
in many ways as the own shares of the business. The shareholders of Marks and Spencer can
influence the business directly as each shareholders have the right to vote on the corporate
decisions. They can influence the company when they invest their money as they expected to have
share of the profits as return on their investment. However, there is some negative influence on
Marks and Spencer, as they have the right to take their money out of the company and use it to
invest somewhere else, which can have some negative on Marks and Spencer.
Employees
Employees are one of the key stakeholder of Marks Spencer as they keep in touch with customers.
For example, if the customers want to ask something about the products/service or even the
company itself, then the employee can answer them and also they can recommend products or
service to customers which can be beneficial for the company.
The employees can influence the success of Marks and Spencer by their productivity and efficiency in
their role as an employee and when they take part in the tasks and activities , all this can influence
the over all of the company. Sometime, it is hard for employee to deal with working conditions,
company policy or pay, so they can resort to industrial action. Every employees have the right to
have better working conditions, pay and polices. Marks and Spencer treating the customers as their
most valued assets and they provide a good working environment and they let their employees to
take important part in decisions making process. Marks and Spencer always considers the employees
as one of important stakeholders.
Potential Investors
The investors will be looking on the financial reports and statements, which can help them to decide
whether to invest money into the business or not. They will want to see the financial performance of
the business in order to predict the future forecast by looking on the past and present financial
statements. Therefore, the potential investors can have some influences on Marks and Spencer, for
example, the investors may make wildly unpredictable investments into the business in order to the
increase the share price which will attract the media attention.
Directors
The directors of the business will need to use the financial statements for evaluating and analysing
the business’s financial performance and positons. Therefore, the directors of Marks and Spencer
use the financial statements to take important decisions and actions in order to improve the
business’s financial performance. This will help to ensure that the Marks and spencer as whole
company is successful and more efficient.
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