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Roehampton University and Renishaw plc: Accounting for Organisations - Essay Example
Author : oconnerxzavier
Finance & Accounting
Pages 8 (2008 words)
There are many factors affecting the business in the education sector. One of the most important factor is financial factor since the university is not fully supported by the funding council grants…
Another factor is the government intervention since the university is registered under the trust the rules and regulation may change over the period of time as mentioned the financial statements are produced according to the guidance of the Charity Commission. In addition to these, there are political factors, social factors for example the quality of education the society is looking for, technological factors, legal factors such as copy rights, union laws, and socio-cultural factors for example religious affiliations and education level and age distribution.
Renishaw plc is a listed company under the laws and regulations which are different from those of charity. The company has to follow the law in order strictly in order to survive the business. These laws may include safety law, labor law, tax laws, and other regulation. Then there is always a danger from competitors taking the market share by providing better quality products. Economic factors are the most important since the company is globally established the currency exchange rates affect the company heavily. There are many challenges to Renishaw as mentioned in the Chairman’s report such as technological advancement, recruitment and absorption of the new employees. The directors expect to overcome these factors in future. ...