Prepare a three-page memo analyzing best practices in approaches and procedures addressing retention and separation for either Java Corp. or an organization of your choice.Once the best possible employees have been hired, it is important for the organization to do what it can to retain its top talent and manage its turnover to continue supporting organizational goals.SHOW LESSBy successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:Competency 1: Apply human resource strategies to business needs.Apply best practices in employee engagement to the selected organization.Apply retention strategies to the selected organization.Competency 2: Analyze core functions of human resource management.Explain the significance of voluntary and involuntary employee turnover for the selected organization.Analyze how employees and employers get the best results using progressive discipline.Competency 3: Analyze the strategic value of human resource management within a competitive global business environment.Analyze practical considerations in terminations.Competency 4: Communicate effectively in a scholarly and professional manner.Write in a professional style using APA citations and format with correct grammar, usage, and mechanics.

Partnership: The company is considering forming a partnership and wants to be sure it understands the key issues regarding partnership formation, income distribution, and liquidation. Explain the process and methods used to account for partnership formation. How do these methods impact the firm’s balance sheet? Illustrate how the company could split profits and losses. Describe what happens if the partnership doesn’t do well and the company has to dissolve it, or one of the partners becomes insolvent. Illustrate the dissolution process by creating a hypothetical cash distribution schedule. Ensure all information is entered accurately. Corporation: The company is also considering structuring its business as a corporation, but is aware that there are a lot of complex issues to consider when accounting for an incorporated entity. The company is concerned about the following key areas: Differentiate between various forms of bankruptcy and restructuring that the firm should understand.Summarize the key points of interest if the firm fell on hard times and had to file voluntary bankruptcy. What ethical implications should be considered when debating whether or not to file bankruptcy?Identify the key areas of concern if the firm fell on hard times and their creditors forced them into bankruptcy. What defenses are available in this situation?Illustrate hypothetical calculations that would be done to help creditors understand how much money they might receive if the company were to liquidate. Ensure all information is entered accurately. Please refer to the illustration (Exhibit 13.2) on page 592 from your textbook to view potential calculations. ***see attached file