Understand the Role of Accounting Within an Organisation

1.1Belvans institute it is an organisation offering tertiary qualifications and it was founded in 006. It provides fulltime, part time and weekend release tuition for Association of Business Executive (ABE, United Kingdom), City & Guilds (Pitman, United Kingdom) and Institute of Commercial Management (ICM, United Kingdom).The institution was registered by Botswana Training Authority (BOTA) as a training institution in November 2006 and subsequently accredited as a training institution in January 2008.The institutes’ objective was to address the dire need for tertiary qualifications to school leavers and working class population within Tonota and its environs being Mandunyane, Shashe Bridge and Tatisiding. The principal is the one holding the highest position in the business followed by the lectures, accountant, receptionist who are on the same rank. And this is how the organisational structure looks like:

1.2Belvans institute has four external stakeholders being: the students, the sponsors of the courses offered, First National Bank Botswana (FNBB) and Botswana Unified Revenue Services. The institute strengthens its relationship with its customers being the students by making its tuition and examination fees lower than that of its competitors and by also having a conducive learning environment. It keeps in touch with its sponsors by paying the registration fees well in time and negotiating well to get the discounts in some courses it also makes its relationship with FNBB and BURS work by paying FNBB bank charges well on time and paying tax to Burs well. Statement of profit and loss is required to know the sales, cost of sales, expenses and also to calculate the profits being the gross profit and net profit margins. The statement of cash flows is used for the explanation of changes in the cash position of a company, investments made in assets in the period of twelve...