communication

State the meaning of communication . Explain steps in communication process?

Functions of Management

Functions of Management

1.Include planning organizing staffing directing controlling and coordinating

2.Planning which involve forecasting of future problems and event according to time

3.Organizing after deciding the objective and the ways and means of achieving them.

4.The next step is bringing together manpower and material resources required carrying out plan organisation resources are men material technology and finances in order to achieve enterprise objectives it involves decisions about the division of work allocation of authority and responsibility and coordination of  tasks.

What is planning discuss the planning process in detail

Planning is defined as thinking before doing. the forecasting of future problems and events from you planning and decision making since planning required decision on :

1. what should be done
2.  how should be done
3.  Who will be responsible for doing it
4.  where is action to be taken
5. Why is to be done

The planning is the function that determines in advance what should be done it consists of selecting the enterprise objectives policies programs procedures and other means of achieving objectives

 line is regarded as one of the most important activities in organisation for 2 reasons as mentioned below
1.The dwindling natural resources for the management to think of having assured supplies for the production does not suffer
2.Rapid changes takes place in environment any other area. organisation how to cope up with changing environment and adapt dances to the changes for which planning is essential.

Types of planning

• According to the time Planning can be classified as short term plan which extend UPTo 1year
• Medium term plan of more than one year 5 years
• Long Term plan for 5 years or a long period

Multi use plan

• Objectives ,strategies, policies, procedures ,methods ,rules
• Single use plan
• Programs ,budgets ,project ,schedules

planning

State the meaning of communication . Explain steps in communication process?

What is planning discuss the planning process in detail

Planning is defined as thinking before doing. the forecasting of future problems and events from you planning and decision making since planning required decision on :

• what should be done
•  how should be done
•  Who will be responsible for doing it
•  where is action to be taken
• Why is to be done

The planning is the function that determines in advance what should be done it consists of selecting the enterprise objectives policies programs procedures and other means of achieving objectives

 line is regarded as one of the most important activities in organisation for 2 reasons as mentioned below
1.The dwindling natural resources for the management to think of having assured supplies for the production does not suffer
2.Rapid changes takes place in environment any other area. organisation how to cope up with changing environment and adapt dances to the changes for which planning is essential.

Types of planning

• According to the time Planning can be classified as short term plan which extend UPTo 1year
• Medium term plan of more than one year 5 years
• Long Term plan for 5 years or a long period

Multi use plan

• Objectives ,strategies, policies, procedures ,methods ,rules
• Single use plan
• Programs ,budgets ,project ,schedules

Espirit de crops & Unity of command

Explain the following

Espirit de crops

It means that union is strength management should strive for harmony and understanding among the personnel .Unity among the members of staff is the greatest source of strength for the undertaking. Hence management should not indulge in divide and rule policy but should create Team Spirit employees. good communication system is must in order to Promote this in any organisation.

Unity of command 

this principle states that employees should receive order from one superior only for any activity employees should not work under 2 bosses if they do so standards of performance may be affected, further any appreciation degree of discipline cannot be guaranteed.

Business Organisation & Management:Unit 20 Directing

S.no	Leadership	Managership
1	A Leader May not have any formal authority, but he has power to influence	A manager has formal authority which is granted by the organization
2	A leader performs only the directing function	Manager performs all the functions of a manager
3	Is elected	Is selected
4	May have short term orientation	May have long term orientation

Business Organisation & Management:Unit-19 Training and Development

Training Methods:

On-the job training:-

1. Employee learns by doing.
2. Exposed to real work situation.
3. Follows orders from experienced people and carries out instruction and adopt the right technique while doing the job.
4. Can seek clarifications on various matters and obtain guidance from seniors.

Job rotation, coaching or job instruction, working as assistant also called as apprenticeship, temporary promotions etc.

Off the job training:

1. Jobs that are complicated in nature and require special technical knowledge.
2. Trainee s are expected to leave their workplace and undergo training for a specified period.
3. These are conducted within the company.
4. They are exposed to special courses by outsider experts, lectures and conferences, case studies, film and television shows, vertibule-training, sensitivity trainig etc.
5. In this trainee is free from the job demands and job pressures.

The focus is more on learning than doing. Since Experts, well supported by visual aids offer the training, the trainee learn quickly.

S.no	On-the-job techniques	Off-the-job techniques
1	Coaching	Case study
2	Understudy	Special course
3	Position rotation	Business games
4	Multiple Management	Role Playing

Selection of Competent persons for a job is only the first step in staffing. The selected people should be trained and developed in order to build an effective work force.

S.No	Training	Development
1	It is the act of increasing knowledge and skills of an employee for doing a particular job.	Act of improving and achieving the growth of employee in all aspects
2	It is an organized activity by which people learn and acquire new skills and knowledge.	It is an organized activity by which people learn about growth of an individual in all aspects.
3	It is instruction in technical and mechanical operations	It is philosophical, theoretical and educational aspects.
4	Training is meant for non-managers	It meant to managerial staff
5	Short-term job related objectives	Long term career oriented objectives
6	Job-oriented program	Career oriented program

Business Organisation & Management:Unit -I Business Concepts and Evolution of Business.

Business Concepts and Evolution of Business.

Aim of Business is not only to earn Profits.

But a Business cannot afford to have profit alone as its sole objective.

Responsibility of business towards society:

Business is to cater to the needs of Customers.
Provide Services to the public.



Responsibility of business towards its employees:

Business must fulfill the responsible employees by providing food working conditions and reasonable wages.

Economic Objectives of Business:

Earning of satisfactory profit.
creation of customers
making innovations which help the customers in getting better and more economic goods and services.


Social Objectives
Supply of quality goods to the community
Fair deal to workers
Fair return to investors
Fair dealings with the suppliers

A3-ADVANCED ACCOUNTS UNIT-11 Partnership Accounts - Introduction & Methods of Maintaining Capital Accounts

Introduction :

Businessmen experience that the combination of more than one in business, bring out better and more efficient results.
If a person who has the ability and experience but does not have the required money can join and combine their skills and property in a venture and agree to share the results, it is referred to as partnership.

Essential features of partnership:

No of persons : Minimum two and maximum 20 members. (Note:- if business is of banking it must not exceed 10 members).
if it exceeds it becomes illegal association.

Agreement: There should be an agreement between the partners

Activity: Partners have to join to carry on some business.

Profits & loss:  there should be sharing of both profit and loss.

Management: All partners should manage the firm

1.The law treats the partners and the firm as one legally. if any partner dies the firm gets dissolved. Each partner can enter into contracts on behalf of the firm and each of them can be used for the debts of the firm.

2. Liability of the partners is both joint and several and unlimited. if the firms assets are not sufficient enough to pay of its debts, the remaining amount can be recovered from any or all of the partners.

3. No partner can retire from the firm without the consent of the remaining partners.

Rules applicable in the absence of Partnership agreement:-
Partners share profit/loss equally
Interest on capital is not allowed and similarly no interest is charged on drawings.
Partners are not entitled for any salary or renumerations.
Partners giving loans to firm are entitled for 6%interest per annum.
Partnership books are kept at the place of business and every partner will have access besides the right to inspect and copy any of them.

Registration of firms:-
It is not compulsory to register partnership firms as per partnership act. BUT if a firm is not registered

1. Firm cannot file suit against third parties.
2. No partner can file suit against firm or other partners.

Usual Adjustments in Partnership Accounts:
Interest on Capital : As per partnership act no interest is paid on capitals of partners unless it is provided in deed.
Interest on drawings: Drawings are the amount of cash and goods drawn by the partners from the firm unless specified in deed.
Renumeration to partners: According to section 12b of the partnership act every partner is bound to attend diligently to his duties in the conduct of the business. As per section 13a no partner is entitled to receive renumeration for taking  part in the business.However it may become necessary to pay renumeration to those partners who devote their full attention to the business.while others do not.

Partners capital accounts:-
The capitals of the partners are subject to adjustments if there is any profit or loss, or interest of capital and drawings etc.. those capital accounts are prepared separatley for each partner.
There are two methods of Maintaining capital accounts they are
1. Floating or Fluctuating capital method and
2. Fixed capital method

1.Floating or Fluctuating capital method: in this method all transactions such as capital contributed, profit, loss, salaries, balance of balance sheet etc are recorded under capital account for each of the partners separately, so capital at the end of the period will not be same as the begining of the period.

2. Fixed capital: here the capitals of partners are shown in capital account and other transactions are recorded in current account and drawings account, and all these accounts shown in balance sheet. Since capital account shows constant figure unless additional capital is introduced or existing capital is with drawn it is known as Fixed capital method.

A3 INSTALLMENT PURCHASING SYSTEM

A3 HIRE PURCHASING SYSTEM VS INSTALLMENT PURCHASING SYSTEM:

S.No	Hire-Purchase	Instalment Purchase
1.	Title in the goods transfers only after the last installment is paid	Title in the goods passess to the purchaser immediately after the agreement
2.	The installment paid before the last installment would be treated as hire charges	Each installment is treated as payment towards principal and interest.
3.	The agreement can be cancelled anytime before the last installment is paid	There is no such right to the purchaser
4	The seller has the right to repossess the goods in case the purchaser is in default of installment	The sell has no such right but he can file a suit for process of the goods and damages
5.	The hire purchaser cannot sell the goods, as he has no title	The hire purchaser can sell the goods, as he has titles.

SELF BALANCING AND SECTIONAL BALANCING - I

OBJECTIVES OF SECTIONAL/SELF-BALANCING SYSTEMS:

1.To ensure the accuracy of the ledger accounts,

2.To detect the accounting errors, if any, and pinpoint the place of error without much waste of time and energy.

3.To exercise proper internal control and,

4.To help in the preparation of final accounts within a short period.

Scope of Sub-Divided Ledgers:

Debtors Ledger - The Ledger is used for recording the personal accounts of trade debtors only.
Trade debtors are the persons to whom goods are sold on credit also called as sales ledger, sold Ledger or Customers Ledger.
Accounts other than trade debtors are not recorded in this ledger.

Creditors Ledger - Maintained for recording the personal account of trade creditors only.

General Ledger- Main ledger from which trade debtors and trade creditors are now taken out.

SECTIONAL BALANCING SYSTEM:

In this system the ledger is divided into there sections and the accuracy of the each section can be proved as follows:

1. General Ledger - By preparing the trail balance.

2. Debtors Ledger - By comparing with Total Debtors A/c in General Ledger

3. Creditors Ledger- By Comparing with Total Creditors A/c in General Ledger

When does Debtors Accounts Shows Credit Balance:?

It is due to granting of allowances or return of goods etc. after the settlement of the accounts of some debtors.

When does Creditors Accounts Shows Debit Balance:?

When we return some goods to the supplier after settling the account, the total creditors account shows a debit balance. and vice versa

UNIT-IV ACCOUNTS OF NON-TRADING ORGANISATIONS -I

Non-Trading organisations are the nonprofit organisations which run to render service. Such as Sports club, recreation clubs, libraries, educational institutions, charitable institutions, welfare institutions hospitals,literary associations cultural associations, co-operative societies trade unions, political associations professional associations.

In this organisations Income and Expenditure account is maintained rather than Profit and Loss account.

This organisations generally survive on subscriptions from members, fees from users, donations and aid from others.

Distinction Between Receipts & Payment Account vs Income & Expenditure

S.No	Receipts & Payment Account	Income & Expenditure
1	Real Account	Nominal account
2	Summary of cash & bank transactions	Summary of income earned & expenses incurred during the year
3	Only cash transactions	Cash as well as non cash transactions
4	Includes payments & receipts of past, present and future periods.	It includes incomes and expenses pertaining only to the current year
5	Includes both capital and revenue items	Includes only revenue items
6	Does not include accrued items. i.e occurred incomes and expenses	It does not include incomes and expenses
7	It doesnot includes depreciation, bad debts, provisions, etc.	It does includes depreciation, bad debts, provisions, etc
8	It has opening balance ( of cash &  bank	It has no opening balance
9	The closing balance is cash in hand and cash at bank or over draft	The closing balance may be surplus or deficit.

S.No	Receipts & Payment Account	Income & Expenditure
1	Real Account	Nominal account
2	Summary of cash & bank transactions	Summary of income earned & expenses incurred during the year
3	Only cash transactions	Cash as well as non cash transactions
4	Includes payments & receipts of past, present and future periods.	It includes incomes and expenses pertaining only to the current year
5	Includes both capital and revenue items	Includes only revenue items
6	Does not include accrued items. i.e occurred incomes and expenses	It does not include incomes and expenses
7	It doesnot includes depreciation, bad debts, provisions, etc.	It does includes depreciation, bad debts, provisions, etc
8	It has opening balance ( of cash &  bank	It has no opening balance
9	The closing balance is cash in hand and cash at bank or over draft	The closing balance may be surplus or deficit.

S.No	Receipts & Payment Account	Income & Expenditure
1	Real Account	Nominal account
2	Summary of cash & bank transactions	Summary of income earned & expenses incurred during the year
3	Only cash transactions	Cash as well as non cash transactions
4	Includes payments & receipts of past, present and future periods.	It includes incomes and expenses pertaining only to the current year
5	Includes both capital and revenue items	Includes only revenue items
6	Does not include accrued items. i.e occurred incomes and expenses	It does not include incomes and expenses
7	It doesnot includes depreciation, bad debts, provisions, etc.	It does includes depreciation, bad debts, provisions, etc
8	It has opening balance ( of cash &  bank	It has no opening balance
9	The closing balance is cash in hand and cash at bank or over draft	The closing balance may be surplus or deficit.

Receipt Vs Income

S.No	Receipt	Income
1	Actual cash or cheque received	What is earned
2	May be of capital or revenue	Whether actually received or not
3	Receipts may be of past, present and future periods.	It includes incomes and expenses pertaining only to the current year
4	Real Account	Nominal Account

Capital Receipt vs Revenue Receipt

S.No	Capital Receipt	Revenue Receipt
1	It is liability	It is income
2	If receipt is 1.repayable,2.is due to sale of an asset,3.is of permanent nature.	if the receipt is non-payable,or it is earned through the regular activities
		This receipt is shown as income in income and Expenditure account

Payment vs Expenditure

S.No	Payment	Expenditure
1	It is paid in cash only	It can be of cash or with out cash
2	It is cash only	it is expenses incurred on various activities

Payment can be expenditure but Expenditure may not be payment.

Capital Expeniture vs Revenue Expenditure

S.No	Capital Expenditure	Revenue Expenditure
1	The benefit which is available for number of accounting years. it is immaterial whether such expenditure is actually paid or not.	The benefit of which is exhausted on same accounting year in which it is incurred.
2	Results in aquisition of assets or improvement of assets or upgradation interms of life and efficieny.	it is expenditure incurred in normal course of operations to meet the day to day expenses of the organisation whether actually paid or not
3	Shown as an asset in balance sheet	Shown as an expense in income & Expenditure statement

Legacy:- When an amount is received as per will of some person it is called Legacy.