LIVE MANAGEMENT EDUCATION

 There are many functions we performed in business accounting. These functions are to identify, record, classify, summarize and interpate transactions. Every function is important and plays an important role in business accounting. Among all interpate is the last and very important function that gives us information about financial position of organization.  So we can say that the process in which we may know the financial position of organization this process is called financial interpatation.  There are four types of Financial Statements. These are Balance sheet, Income statement, Cash flow statement and statement of retained earings.  Objective There are many objectives of Financial Statements. These objectives are as below- 1. To know actual financial position of organization.  2. To forecast financial growth of organization.  3. To know the current financial position of the organization.  4. To take actual financial decision.  5. To minimize ...

 There are many types of department present inside organization. These are Marketing department, Human resource department, Production department and Finance department. Every department plays a different role for the survival, growth and profit maximization. Production department makes policy rules, regulations and law toward Procurement, Purchasing, Transportation, Inventory control etc whereas Finance department arranges, expends, invest and reinvests finance in such type of ways that every function of organization becomes effective, efficient and economical and organization achieve its predefined goal so we can say that Finance department is very important for the profit maximization of organization.  The most important function of Finance department is as below- 1. To make budget- it is the first function of Finance department. Budget is the collection of financial documents in which coming income and expenditure is systematically recorded. Finance department makes budget...

 Finance Manager is an important personnel of organization. They play an effective role to survive, grow and development of organization. They ensure every function, subfunction and action of organization perform by an economical way. Their main function is as below- 1. To forecast the requirements of organization- Every organization requires huge amount of finance to perform his function by effective and efficient way. It is the first function of Finance Manager to forecast accurate finance that is essential for the organization to perform it's function by proper way.  2. To arrange finance- There are many ways to arrange finance. These ways are to take loan from financial institutions, to issue shares, bonds and Debenture. Every way has some positive and negative feature so it is the second function of Finance Manager to use and balance all methods for the development of organization.  3. To balance capital structure- There are two types of capital organization possess....

 Today is 21 st century. It is the age of globalized economy. In this age finance plays an important role in every activity of business.  Definition- The process of arranging, utilizing, expending and investing money by proper way is called finance.  In other words we can say that the process of optimum utilization of money to fulfill our need, desire, demand and expectation this process is called finance.  Nature- 1. It is economic activity.  2. It is a universal aspects.  3. It is a formal activity.  4. It is a legal activity.  5. It is a positive approach.  6. It is a progressive approach.  7. It is future oriented activity.  8. It is a goal oriented approach.  9. It is a purposeful activity.  10. It is dynamic or flexible activity.  Function-  The function of finance is very important in this globalized economy age. The main important function is as below- 1. It fulfills the need, desire, demand and expectati...

 Finance is the life blood of organization. Every organization has less finance whereas he has to perform maximum function so financial management performs an important role to perform all functions of organization in less resource and achieve the goal of organization.  Definition- According to Howard and upton Financial Management is the application of the planning and control functions to the finance function.  According to M C kuchhal Financial Management is concerned with the procurement of funds and their effective utilization in business.  According to me The process of making planning, organising, staffing, dire ting, Controlling in the area of finance this process is called financial management.  In other words we can say that the process of making policy, rules, regulation, law and procedure for optimum  utilization of finance this process is called financial management.  Natural 1. It is an important part of management.  2. It is a conti...

 Employees are the most valuable asset of organization so every organization wants to retain them for maximum time for performing his function by effective, efficient way to achieve his goal.  There are many factors  of employees  affect organization. These factors are personality, perception, attitude and behavior. Among all behavior is one of the important factors because it inspires, influence and motivates employees towards organization by positive or negative way.  Behavior- A series of activities that is performed in working hour inside the organization is called behavior.  Every employee is human so the activities he performed to colleague team member, group member is called human behavior.  There are two types of human behavior. One is overt and second is covert. The behavior of employees any person may see this type of behavior is called overt behavior.  The behavior of employees any person may not see he only feels this type of behavior ...

 There are many hundred employees work inside and outside the organization. If we classify employees it makes many teams, groups, departments in organization. There are many formals and informal relationship among them. The systematic relationship among them is called human relationship.  The origin of human relationship is 19 th century. Today it became very very important because it inspires, influences, motivates, maintains and retains employees with organization so every organization gives a special attention to human relationship.  Definition- There are many experts define human relation by many ways. Some ways are as below- According to Robert Owen Human relations is interaction and cooperation of people in a group.  According to Keith Davis- Human relations are motivating people in organization setting to develop teamwork that accomplishes the individual as well as organization 's goals efficiently.  According to me Human relations is the process of inter...

 These days most company provide many types of financial and non financial benefits to employees to retain, motivate and maintain of employees Fring benefits is one of an important techniques that is used by most company of world economy.  The addition financial benefits that is given by the company to their employees to maintain and motivate employees. This additional financial benefits is called Fring benefits.  In other words we can say that the competition in addition to direct wages or salaries given to employees is called Fring benefits.  Example of Fring benefits- 1. Health insurance.  2. Interest free loan.  3. Car facility.  4. Discounted meal.  5. Higher education plan.  6. Laptop, mobile facilities.  Objectives-  There are many objectives of Fring benefits. These objectives are as below- 1. To motivate employees towards their work, job and organization.  2. To increase job satisfaction of employees.  3. To incre...

 There are two types of wages system. One is time rate wages system and second is piece rate wages system. There are many merits and demerits of each system so it depends on organization that which system they choose according to there production process.  Piece rate wages system The process in which wages are paid to workers on the basis of output produced by them this process is called piece rate wages system.  Wages N multiple R.  N- Number of unit produced.  R- Rate per unit.  Advantages  1. It supports in the maximization of production.  2. It is fair to all workers who work in organization.  3. It inspires all efficient workers to do more and get more.  4. In this process per unit cost of product is low.  Disadvantages  1. It requires an up to date accounting system.  2. Many workers feel insecure towards their future so they do not internally satisfied.  3. It requires strict supervision because workers do not ...

 Wages and salary administration is also an important function of Human resource manager. There are two types of wages organization pay to employees. These are Time rate and piece rate system.  Time rate wages system- The wages to the workers are paid on the basis of time they spent for the development of organization this system is called time rate wages system.  In other words we can say that the process in which workers are paid according to their contribution of time in Production and concern activities of Production this process is called time rate wages system.  It is fixed on the basis of unit of time like Hours, Days, weeks, months and years.  Wage  Time spent multiple Rate per unit of time T multiple R T Time spent in hours.  R Rate per hour.  Advantages 1. It is easy to implement in organization.  2. It is beneficial to average workers.  3. It provides regular income to employees so they are satisfied with organization.  4...

 There are many functions Human resource manager perform. These are procurement, recruitment, training and development, performance appraisal and wage and salary administration. Every function is important and plays an important role for the survival, growth and profit maximization of organization. Among all Wage and Salary administration is also very important function because it helps to attract potential employees towards organization.  Definition- Wage-The financial amount that is given to labours according to their physical contribution for the development of organization this financial amount is called Wages.  In other words we can say that the finance that is given to workers according to their provided labour to perform the function of organization by an effective, efficient way this finance is called Wages.  It is given to unskilled workers. It is given to daily, hourly, weekly and monthly basis.  Salary- The financial amount that is given to employees ...

 There are many modern techniques of Performance appraisal. These techniques are as below- 1. Management by objectives- it is the first and the most popular technique of Performance appraisal. It is the process in which the goals of organization are defined, discussed and distributed by the management among employees to achieve every objectives of organization. In this process the performance of every employee is monitored, measured against the predefined objectives.  Advantages- There are many advantages of Management by objectives. These advantages are as below 1. It helps employees to perform their roles and responsibilities by a effective way.  2. It provides better output.  3. It provides clear understanding what should employees do for the development of organization.  4. Every employee feels proud at his function, role etc.  5. It develops better relationship between employee and management.  2. 360 decree it is the second modern method of Perfo...

 Employees are the most valuable asset of organization. There are many techniques Human resource manager use to optimum utilisation of this asset. These techniques are Human resource development, performance appraisal, training and development etc. Every technique is important and play a unique role. Among all training and development is an important technique that is used by all types of organization in the global market.  Definition.  There are many ways we define training and development. These ways are as below- The process of imparting of specific knowledge, talent, skill, wisdom and abilities of employees this process is called training and development.  In other words we can say that the attempt that is used to impart employee's feature to increase their knowledge, talent for Improving their performance this attempt is known training and development.  Objective There are many objectives of training and development. These objectives are as belong 1. To hel...

 There are many operative functions Human Resource Manager performs. These functions are Procurement, development, compensation, maintenance, motivation and integration and so on. Every function is important and play a pivotal role in the growth of organization. Among all development is very important function because it helps organization to survive long term in changing globally environment.  Definition- The process of systematic and planned activities designed by human resource manager to provide employees opportunities to learn new skill to meet future requirement of organization this process is called human resource development.  In other words we can say that the framework for helping human resource force's to increase their knowledge, talent, skill, abilities and wisdom this framework is called human resource development.  Natural 1. It may be formal or informal.  2. It is a strategically function.  3. It is data base approach.  4. It is a well ...

 Transfer is also an important function of Human resource Manager. It is not the main function of Human Resource Manager. It is the part of Recruitment. There are two types of recruitment. One is internal recruitment and second is external recruitment. Transfer belongs to internal recruitment.  Definition - The process of horizontal or lateral movement of human resource forces from one job, section, department, shift, position to other job, section, department, shift, position this process is called transfer.  According to me- The process in which human resource forces forward upper post according to their knowledge, talent, skill, wisdom, experience, capacity this process is called transfer.  In other words we can say that the process in which organization uses their human resource forces according to their need, function to perform their function by an effective efficient way this process is called transfer.  Nature- 1. It is an internal function of organizati...

 Today is 21st century. It is the age of globalize  economy. In this age the function of Human Resource Manager becomes very complex. Selection is one of complex function that should be performed  by Manager very carefully to perform the function of organization well.  The process in which Human Resource Manager chooses one of best candidate that is present in recruitment process this process is called selection.  In other words we can say that Selection is scientific process that is used to choose best candidates among attracted candidates who is able to perform the function of organization by best way in coming era.  Nature- 1.It is the core function of Human resource management.  2.It is an internal function of organization.  3.It is a scientific function.  4.It is future oriented function.  5.It is a broad approach function.  6.It is a complex function.  8. It is based at rules regulation, policy of organisation.  9. I...

 Organisation performs his unction at continue basis. They have many goals. These goals may be survival, sales revenue maximisation, profit maximisation, to become a brand and so on. For achieving these goals they makes many plans. These plans may be financial plan, human resource plan, marketing plan and so on. Every plan is important. Among all human resource plan that is made by human resource manager for achieving their goal in coming year, decade and so on. The process in which human resource manager makes policy, rules, regulation for caring coming need, requiorement of organisation in coming 20 years.This process is called human resource planning. In other words we can say that business, economy, market is changing direction. So, the working way, style, norms of the organisation is also in changing form. The process in which organisation cares all these things and add global talent, diverse talent to orgaisation to achieve goal of organisation in coming year, decade. This pr...

What is human resource management? There are many hundred employees worked inside the organisation. The process in which manager makes policy, programme, rules, regulation for effective utilisation of human resource force. To achieve the predefine goal of the organisation. This process is called human resource management. In other words we can say that the process of making policy, procedure, procurement for the optimum utilisation of human resource force. This process is called human resource management. Nature of human resource management: 1. It is universal approach- It is the first nature of human resource management. It is applied in all country, continent of world economy. Every country, continent where organisation, industry, company indirect present in human resource management in this type of concern sector. 2. It is goal oriented- Every organisation has a goal. Their goals are survival, sales revenue maximisation, profit maximisation and so on. Human resource management help ...

 Today Finance Minister Nirmala Sitharaman presents the Union Budget 2021-2022 in Parliament. It was the third budget under the National Democratic Alliance government led by Prime Minister Narendra Modi. It is not a printed budget. It is available in a digital format. It is an active budget that focus all round development of country. It also focuses on increasing the income of farmers. Farmers may get loans easily from financial institutions. There are many policy, rules, regulations, provisions make to strengthen APMC. There is much fund allocated to Agriculture Infrastructure Fund that will utilise for the development of farmers. It is based on the approach of widening new opportunities for growth of young people of India. There are many changes in the taxation process. The scrapping of income tax for senior citizens under certain condition, new rules for removal of double taxation for NRIs and a reduction in the time period of tax assessments among other measures. According to...