Management Accounting

Topics: Tesco, Management accounting, Hypermarket, Business / Pages: 8 (1855 words) / Published: Apr 22nd, 2013
Running Head: MANAGEMENT ACCOUNTING

The Management Accountant in Business
[Name of the Writer]
[Name of the Institution]

The Management Accountant in Business

Introduction
Tesco Public Limited Company is a merchandising retailer and a grocery retailer multinational chain which has it’s headquarter in Cheshunt in the United Kingdom. Tesco as compared to its counterparts, Walmart and Carrefour, is the world’s third largest retail store with regard to the revenues that it generates. Tesco stands as the second largest retail stores of the world with regard to its profits, with Walmart being the first. Tesco has its retail stores spread across almost 14 countries of the world of Asia, North America and Europe. Tesco public limited company is the market leader in its home country United Kingdom with a market share of almost 30%. Tesco was founded by Jack Cohen in 1919 which operated as a group of stalls in the market. After its inception today Tesco plc operates across diverse areas of clothing, electronics, furniture, books, financial services and internet services.
Tesco is listed at the London Stock Exchange and is a part of the FTSE 100 index having a market capital of approximately £24.4 billion and a symbol of TSCO. Tesco has been operating with seven business segments, namely, Tesco Superstores, Tesco express, Tesco metro, Tesco extra, One stop, Tesco Homeplus, and Dobbies. The market share of Tesco as recorded in 2012 was 30.2% which was the highest as compared to its European counterparts.
Tesco has developed its marketing headline to be, “Every little helps”. The tag line is represented in all the print and TV advertisements of Tesco which represents the value that Tesco offers to its customers against the price that they pay, with the value being more than the price of the products. Tesco not only works for company profits but also for the community at large in which it operates. Tesco has a value of contributing 1.8% of its profits to the charitable



References: Tesco PLC. (2013). Our Strategy. Retrieved from: http://www.tescoplc.com/index.asp?pageid=12 Tesco PLC. (2012). Annual Report and Financial Statements. Retrieved from: http://www.tescoplc.com/files/reports/ar2012/files/pdf/tesco_annual_report_2012.pdf Durden, C. (n.d). The role of management accounting in organizational Control systems: preliminary evidence of an organic Approach. pp. 1-50. Retrieved from: http://www.afaanz.org/openconf/2008/modules/request.php?module=oc_proceedings&action=view.php&a=Accept+as+Paper&id=570 Anthony, R.N., & Govindarajan, V. (2007). Management control systems. USA: Irwin/McGraw-Hill. Bhimani, A., & Langfield-Smith, K. (2007). Structure, formality and the importance of financial and non-financial information in strategy development and implementation. Management Accounting Research, 18, 3-31. Dixon, R., & Smith, D.R. (1993). Strategic management accounting, Omega International Journal of Management, 21(6), 605-618.

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