TESCO ACCOUNTING

Tesco PLC Accounting

Introduction: Tesco PLC

Tesco is an international distribution group based primarily in the UK , in Ireland and Asia. The company was founded in 1919 by Jack (later Sir Jack) Cohen, selling groceries from a stall in London's East End. “Tesco” as a brand first appeared five years later. Growth since the early days has occurred both organically and by acquisition, and today the total number of stores exceeds 3,700. Today, although Tesco remains focused on grocery items, following the Continental hypermarket model, it has also diversified into consumer electronic goods, clothing, DVDs and CDs, furniture, telecoms, and even insurance and other accounting services.

Over the years, Tesco has become increasingly concerned with corporate social responsibility and via its corporate Website declares the following overall philosophy:

Respond to consumer trends such as healthy eating, organics, and Fair Trade

Treat suppliers fairly so they can “deliver” for customers

Manage the company's environmental impacts to help reduce costs and inconvenience

Treat staff as they deserve to be treated so they perform well for customers

Help staff and customers to support the local organizations and causes they care about

Tesco is Distribution Group UK (2205 stores in just the United Kingdom in 2008) and the 3rd World Group. His work revolves around three areas: distribution in the United Kingdom, international distribution and accounting services.

Tesco has 1878 points of sale (retailers Tesco Extra, Tesco Superstore, T & S, Tesco Metro and Tesco Express). Tesco is present in the food and non-food (textiles, pharmaceuticals, information technology, optics, TV Hi-Fi Video, appliances, travel, etc). He also offers phone services through Tesco Mobile (250 000 clients) created in 2003 in partnership with the No. 1 sector in Britain. In addition, the group has an online shopping site, tesco.com.

The company's core UK division four different storage formats, including: fast, subway, supermarket and additional, and a trial format, known as the Homeplus. Non-food part of the company, including such as electrical appliances, home entertainment, clothing, health and beauty products, stationery, cook shop and soft furnishings, such as barbecues and garden furniture in the summer seasonal merchandise goods. The company's retail services sector consists of a number of operations, including Tesco Personal Finance, Telecom and Tesco, tesco.com composition. Outside of the company's international business 13 in Europe, Asia, including India, Britain, and North American markets business. (Erdem, T., 86-100)

Business Values

Tesco's growth strategy for effective and consistent, it allows us to enter new markets, to strengthen our core UK business and drive expansion.

The reason is that the strategy to expand business scope, it can be delivered in accordance with the expanding market to large customers in the country a strong long-term sustainable growth - such as financial services, non-food and telecommunications - initially in overseas markets and the new EU and Asia, and more recently in the United States.

The strategy to diversify the business requirement in 1997, has in recent years, Tesco's success. To have been created in the past 12 years as part of the strategy development of the scale ...