Notes and Summaries || 4
– The set of organizational activities directed at attracting, developing, and maintaining an effective work force.
• The Strategic Importance of HRM
– Firms have come to realize the value of their human resources in improving productivity.
– HRM is critical to bottom-line performance of the firm.
– HR planning is part of the strategic planning process.
Traditionally, money has been defined on the basis of its general acceptability and its functional aspects. Thus, any thing which performed the following three function:
Served as medium of exchange
Served as a common measure of value
Served as a store of values was termed as money.
This note covers about unemployment, poverty and popolation
• Population refers to Total number of People residing in a Place.
• Growth in Population is considered to be favourable in certain Countries like Australia because:
• In General, Production means, "Any Activity of Making Something Material."
• In Economics, Production means, "Any Economic Activity which is directed to the Satisfaction of the Wants of the People.
• Strictly speaking there should be no difference in Cash Book and Pass book.
• However on a particular date it is possible that balances on both the books do not tally.
• After finding the reasons for non agreement of the bank balances efforts are made to reconcile. This statement is prepared in the form of BRS.
To consign means to send. In Accounting, the term “consignment account” relates to accounts dealing with a situation where one person (or firm) sends goods to another person (or firm) on the basis that the goods will be sold on behalf of and at the risk of the former...
Depreciation is a measure of wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. Depreciation is allocated so as to charge a fair proportion of the depreciable amount in each accounting period during the expected useful life of the asset. Depreciation includes amortisation of ...
This notes covers illustrations of following topics on partnerships.
- Goodwill and Method of Valuation
- Admission of Partners
- Retirement of the Partners
- Death of the partners
What Is an Organization?
• A group of people working together in a structured and coordinated fashion to achieve a set of goals.
• A social unit in which two or more people interact to achieve common goal or a set of goals.
• Collection of people working together in a division of labor to achieve a common purpose
In case different business activities are carried out under one roof/building in the same business name, It will be treated as one business unit. Each such business activity/division is known as department.