Asda Essay

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DEPARTMENT OF FINANCIAL ANALYSIS AAF001-6 ASSESSMENT 2 SUBMITTED BY MUHAMMED ZAHIR MALIKKAN STUDENT ID -1026191 EXECUTIVE SUMMARY This report is all about how management accounting and the various techniques useful in today’s competitive business world. The management accounting plays an important role to take major business decisions. The companies are taking more benefit of the management accounting. It is very important for the company’s development. INTRODUCTION: ASDA is a British retail supermarket chain which sales food, clothing, toys and general merchandise. It is also having a mobile telephone network which is known as ASDA Mobile. The company is having its head office in the ASDA House in Leeds, West Yorkshire. The company became a subsidiary of the American retail giant Wal-Mart, the world’s largest retailer, in 1999. It is the third largest chain in the UK after Tesco and Sainsbury's. The Company’s marketing promotions have usually been based exclusively on price. And it is because the company promoting itself under the slogan Britain's Lowest Priced Supermarket, 13 Years Running. As the company is wholly owned division by Wal-Mart, the company is not required to announce quarterly or half-yearly earnings. The company submits full accounts to Companies House each October of every year. The company has won "Lowest Price Supermarket" award from The Grocer magazine since past 12 years. The company uses this to promote itself across the UK. In August 2005, the competitor supermarket chain TESCO challenged ASDA's capability to use the claim that it was the cheapest supermarket in the country. As a response of the complaint the Advertising Standards Agency upheld the complaint and ordered ASDA to stop using it. The reason given by the ASA is that The Grocer magazine’s survey was based on limited

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