Steps To Start A Successful Decorator Business And Accounting In BP Plc

1. Steps ToStartASuccessfulDecoratorBusinessAndAccountingIn BPPlc CreateAPlan 1. Inorder tosucceedindecoratorbusinessfollowing stepsshould betakeninto considerationbyDavid: Create a plan: Decorator business mainly involves preparation, delivery, decoration and presentation. It is necessary to arrange for contracts and also understand how market works and limitations and benefits of it. It is important to arrange for decoration services as well as tent services and to decide what will be your reach. Hence, a proper plan is needed for everything. Decide niche: It is important to decide a niche for yourself in order to have decent start as thereisalways ascope forimprovement.Firstly,Davidcanstartitsbusinessfrom decorating birthday parties, then marriages and then bigger events. It is important to wisely chooseservicesthatwillmakepeoplehappyandthatcanbemanagedsolelyatinitiallevel of decoration business. It is also necessary to build trust of customers through products and services as decoration business is basically a source of creating presentation and show skill andbetter management (Blank2020). Foraccountingandfinanceassignmenthelpvisit:Myassignmenthelp.com Permission and licenses: It is primarily important to take permission to open a decorator business and for that many approvals are needed from government and many tests have to be performed to get license to start an decorator business. Firstly, if place is rented then permissionfromlandlordisrequiredforusingspacecommerciallyastaxeswillbecharged on that on basis of commercial regulation. Then application for four-five licenses should be donewhichincludesGSTregistration, firelicenseetc. Decorative and equipment: For starting decorator business it is important to have proper equipment and decorative so as style destination and make it beautiful. It mainly depends on understandingwhatmaterials areneeded soforthatalistofdecorativeneedstobe prepared (Kim, Kim and Jeon 2018). All materials such as big poled, cello tape etc are of primeimportanceandit cannot becompromised. Understand customer: Needs of customer should be given more focus. Variety of products demanded by customers should be kept in mind and stocks should be kept up and products qualityshouldbebest.Concernsandqueriesofcustomershouldbegivenpriority(Bocken, N.Mand Kraaijenhagen2018). Finding a delivery system: Decorator business is connected through services delivered to customerssoitisimportanttoselectareliabledeliverysystemthatisitshouldbeprompt and it should have strict contract. When services provided is punctual then customers will preferyour decorator business.

2. Generationof funds: Whilestarting a decorationbusiness principalinvestment willbe neededso Davidhastoinvest a principalamount inbusinesssoastorunthebusiness. Competitionanalysis:Levelofcompetitionshouldbetakenintoconsiderationandbased onthatDavidshoulddevelopbusinessstrategy. Marketing on various platforms: Marketing is very important for the success of business. Social media is used by all people around globe. Putting pages on Facebook, Instagram, investinginmarketingofflinewillhelpinbringingattractionofaudienceinbusiness.David canalsoaskexistingcustomers torecommenddecoratorbusinessfacilitywithfriends (Central 2019). Putting small hoarding and putting ads with discounts and offers are very helpfulfor successofbusiness. Hence,allabove-mentioned stepswill helpDavidinmakinghisdecoratorbusiness successful. It is recommended to David to manage business welland keep cool head and talktopotentialcustomers. For accounting helpvisit:Myassignmenthelp.com 2. Accounting is a process which is used for analysing, recording, summarizing transactions which are resulting from operations of business over a period of time. Based on information disclosedinfinancialstatementofbusinessdecisionmakers makeeffectivedecisions. Accounting is a way which is used by businesses for keeping track of operations and for ascertaining financial health of business. Hence, data provided in financial statement helps lendersandinvestorsindecisionsmaking. Companies listed on London Stock Exchange includes BP plc. In BP plc important decisions are taken byboardofdirectors(BPPlc2022).Authority forexecutivemanagementis delegatedbytheboardtochiefexecutiveofficer.Executionofstrategyofcompanyistaken byleadership teamofCEOunderday- to-dayauthority formanagementofcompany delegatedtoCEO.BoardisalsoresponsiblelookingatcultureandvalueofBP.Importance ofeffectivemanagementwithshareholdersisalsorecognised byboard.Boardis accountable for making sure that corporate governance of company isinline with duties under UK corporate law, corporate governance code of FRC’s (Corporate governance 2022). Effectivenessoffinancialreporting,internalcontrolsystem,riskmanagementofBPis monitored by auditcommittee. On the basis ofdefinition of accounting,accountants are mainlyresponsible forrecordingofdailytransactionsofcompanyandcompiling those transactionsinfinancialstatement.Hence,accountants areresponsible forrecording, summarising, analysing and giving information for making decisions. Therefore, based on discussion it can be said that majority of decisions are take by board led by the CEO of the company. Original Source: https://myassignmenthelp.com/free-samples/ba30592e-recording- business-transactions/investors-in-decisions-making-file-A1D3CE0.html