Error while installing SQL Server 2012 on Windows server 2008 R2 service pack1

HasSecurityBackupAndDebugPrivilegesCheck

Checks whether the account that is running SQL Server Setup has the right to back up files and directories, the right to manage auditing and the security log and the right to debug programs.

Failed

The account that is running SQL Server Setup does not have one or all of the following rights: the right to back up files and directories, the right to manage auditing and the security log and the right to debug programs. To continue, use an account with both of these rights. For more information, see http://msdn.microsoft.com/en-us/library/ms813696.aspx, http://msdn.microsoft.com/en-us/library/ms813959.aspx and http://msdn.microsoft.com/en-us/library/ms813847.aspx.

ThreadHasAdminPrivilegeCheck

Checks whether the account running SQL Server Setup has administrator rights on the computer.

Failed

The account running SQL Server Setup does not have administator rights on the computer. To continue, use an account with administrator rights.