2.1 Agree with the purpose, content, and style for the range of business documents
A business letter is a type of letter that requires professionalism and specificity rather than being something creative and informal. The business world communicates in a manner that is more formal and accurate so the business letter you produce should reflect this ideology. It is also important to remember that recipients of business letters do not usually have a lot of time spare to particularly read through every detail of the message (Maitland, 2014).
A business letter
1234 Main Street
Arlington, TX 76010
Mr. Jack Johnson
Johnson Delivery Service
25 South Street
Fort Worth, TX 76052
Dear Mr. Johnson,
This letter is being written to confirm that as of tomorrow 12/02/2010, I will no longer need to use Johnson Delivery Service. I have been pleased with our prior relationship and it is my wish that we part on good terms, I have decided to use another delivery service due to their ability to serve me sooner in the morning.
My contract agreement with Johnson Delivery Service for the calendar year expires on 12/31/2010. Please use this letter as our notice not to renew that contract. This is outside the standard 20 days’ notice required by the contract that I signed. Please feel free to contact me with any additional issues you may have regarding this contract termination letter.
2.2 The learner should provide an assignment on showing good research in relation to the required documents.
Organizations are required by the CRA to retain documentation to support good business practices and proper income and expense reporting. Working with the right information security professional can help Morrisons dispose of documents Morrisons don’t need while safeguarding crucial records (Eglin, 2015).
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Businesses operate increasingly in digital environments in an often paperless world, but there remain key documents that corporations, institutions, and other organizations should retain for due diligence and oversight.
Accounting records document the business’s transactions. These records include information about income, expenses, and equity. Morrisons can compile the figures from the accounting records into financial statements and small business ratios. Morrisons must track accounting records for several purposes (Eglin, 2015). Accounting records help Morrisons see the business’s financial health. Morrisons can measure its profitability over time, look at patterns in the records to help make decisions, and see if Morrisons have enough capital to cover the expenses.
The government requires Morrisons to keep financial documents that show income and expenses. Morrisons use accounting records to file the income tax return. Once Morrisons file the tax return, be sure to keep tax records. The IRS can penalize Morrisons for up to six years after Morrisons don’t report income. For this reason, Morrisons should keep tax records of the small business finances for seven years.
Bank statements are records of all the accounts with the bank. These accounts might include records of checking, savings, investments, and credit cards. Morrisons can reconcile bank statements with accounting records. Comparing bank records to the financial records helps Morrisons see mistakes in the books (Eglin, 2015). If the bank statements do not match the accounting records, there might be an error. Like accounting records, bank statements help Morrisons track the business’s progress. Morrisons will also use this information to file taxes. Depending on the type of business structure, Morrisons have different legal documents. For example, if Morrisons own an incorporated Morrisons, Morrisons should keep track of the articles of incorporation (Eglin, 2015).
Morrisons have legal documentation if Morrisons operate under different business structures. Usually, a partnership has a partnership agreement. Sole proprietors and LLCs also have legal documents. Keep legal documents in the business records as proof that Morrisons own the Morrisons. The location and industry may require Morrisons to have a permit or license. For example, Morrisons may need a permit from the city to assure that the parking area meets specific codes. Or, if the city restricts the size of the business sign, Morrisons may need a sign permit (Eglin, 2015)………………