SCENARIO Carrefour Kenya Carrefour, one of the largest French hypermarket chains globally, was introduced to the Middle East and North Africa (MENA) market in 1995 by Majid Al Futtaim, and opened the first store in Kenya in 2016. As a result, Carrefour has become the most dynamic, fast-moving and exciting hypermarket chain in the region Carrefour ensures customer satisfaction and everyday convenience while offering unbeatable value for money with a vast array of more than 100,000 products. Shoppers can purchase items for their every need, whether home electronics or fresh fruits from around the world, to be locally produced. The wide range of products includes the following: Automotive, Baby Products. Bakery, Beauty & Personal Care, Beverages, Bio & Organic Food. Fashion Accessories & Luggage, Cleaning & Household, Electronics & Appliances, Health & Fitness, and Home & Garden Mission To provide customers with quality services, products and food that is accessible to all across all distribution channels. Through the expertise of our employees, a responsible and multicultural approach, our broad territorial presence and our ability to adapt to production and consumption modes, our ambition is to be the leader of the food transition for everyone. Brand values Together-defines synergy where the whole is greater than the sum of the parts. We are creating the future together with an atmosphere of support that makes collaboration, information and consensus building easy. Passionate defines youthful high energy, spirited outlook that believes that anything is possible. Twenty years ago, who would have thought that we would experience snow in the desert Bold-being bold has always been the embodiment of Majid Al Futtaim, being the first to bring transformational experiences under one roof. Brief Carrefour Kenya operates in the current business environment which is characterized by uncertainties and risks due to the Covid-19 pandemic that has revolutionized how firms operate. However, Carrefour is keen to ensure that it achieves its full mandate of providing customers with quality services, products, and food accessible to all across all distribution channels. You have been offered an Internship position at Carrefour Kenya as a Finance Trainee. You will be reporting to Mr. Karan Gupta, the firm's Finance Manager. Submission Format Part A - (Handout) Handout: This is a document given out to support a topic being presented. It is used to give a detailed explanation of the issue or a topic of the handout and should be written concisely in formal business style using Times New Roman, 1.5 spacing and font size 12. You are required to make use of headings, paragraphs and subsections as appropriate and all work must be supported with research and referenced using the Harvard referencing style. The recommended word limit is 1,500 - 2,000 words Part A (this provides evidence for LO 1 criteria P1, P2, MI, &DI) The finance and accounting department is vital for any organization's survival. Carrefour Kenya wishes to harness the benefits of the data obtained through its Finance and Accounting Department to remain at the forefront in making financial and investment decisions. Your department is responsible for producing and analyzing budgets, drawing up simple financial statements and using financial ratios to interpret company performance. Your supervisor, Mr. Gupta, requires you to prepare a handout that examines the context and purpose of accounting. You will also be required to prepare financial statements for businesses that are subsidiaries to Carrefour Supermarket from the available financial data. In your handout Examine the purpose of the accounting function within Carrefour Supermarket. Assess the accounting function within Carrefour in the context of regulatory and ethical constraints. Critically evaluate the context and purpose of the accounting function clearly showing the role of accounting in informing decision-making aimed at meeting Carrefour's stakeholders and societal needs within complex operating environments