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    HUMAN RESOURCE MANAGEMENT’S BEST PRACTICE PORTFOLIO

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    HUMAN RESOURCE MANAGEMENT’S BEST PRACTICE PORTFOLIO...

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    Introduction

    HRM or the “Human Resource Management” is an enormous domain that incorporates
    numerous activities in order for ensuring an organisation is situating at its best position
    (Alagaraja, 2013). HRM can as well be defined to be a precise procedure that incorporates
    various stages dedicated towards ensuring best possible employment of the organisational
    resources for upliftment of the workforce. Continuously increasing level of competition creates
    an enormous pressure over organisations to be assured and fundamentally concrete in terms of
    their workforce and competitive abilities.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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