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Lesson Posted on 27 Oct CBSE/Class 12/Commerce

CRR (Cash Reserve Ratio) - Class 12, Macro Economics, Central Banks

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

Meaning of Cash Reserve Ratio or CRR
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Lesson Posted on 28 Aug CBSE/Class 12/Commerce

Types of Internal Recruitment - Class 12, Staffing, Business Studies, NCERT

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

CBSE Std XIIth State Board - OC/OCM ICSE/ISC - Commercial Studies IGCSE/GCSE
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Lesson Posted on 28 Aug CBSE/Class 11/Commerce/Business Studies CBSE/Class 11 CBSE/Class 12/Commerce/Economics

Profession and its features - Type of Economic Activities, NCERT Business Studies

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

CBSE Class 11th, OC/OCM - State Board, ICSE/ISC - Commercial Studies, IGCSE/GCSE - Economics
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Lesson Posted on 28 Aug CBSE/Class 11 CBSE/Class 12/Commerce

Employment and its features - Types of Economic Activities

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

NCERT/CBSE - Business Studies ICSE/ISC - Commercial Studies OC/OCM - State Board IGCSE/GCSE
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Lesson Posted on 26 Aug CBSE/Class 12/Commerce

Past Adjustments in partnership

Vijaya Kumar V

I am a M. Com, M.PHIL, IFRS, Diploma in Banking & Finance and served as Professor of commerce for 4 years....

Past adjustments in partnership firm means adjusting partners' capital or current account balances due to rectification of past errors and omissions that was not in accordance with the partnership deed. Ex, interest on capital provided to partners @ 10% instead of 12% agreed in the partnership deed.To... read more

Past adjustments in partnership firm means adjusting partners' capital or current account balances due to rectification of past errors and omissions that was not in accordance with the partnership deed. 

Ex,  interest on capital provided to partners @ 10% instead of 12% agreed in the partnership deed.To rectify the above error, the differtial interest to be credited to partners and debitted with excess profits already credited. 

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Lesson Posted on 26 Aug CBSE/Class 12/Commerce

PSR in partnership

Vijaya Kumar V

I am a M. Com, M.PHIL, IFRS, Diploma in Banking & Finance and served as Professor of commerce for 4 years....

PSR refers to profit sharing ratio agreed amongst partners of a firm in order to share the profits and losses of the firm. Any chance in PSR will result in reconstitution of partnership and thus require to adjust the revaluation of assets and reassessment of liabilities, valuation of goodwill and... read more

PSR refers to profit sharing ratio agreed amongst partners of a firm in order to share the profits and losses of the firm. 

Any chance in PSR will result in reconstitution of partnership and thus require to adjust the revaluation of assets and reassessment of liabilities,  valuation of goodwill and thus affect partners capital or current account balances.

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Lesson Posted on 22 Aug CBSE/Class 12/Commerce

Goodwill

Vijaya Kumar V

I am a M. Com, M.PHIL, IFRS, Diploma in Banking & Finance and served as Professor of commerce for 4 years....

Goodwill is the reputation being enjoyed by an organization. This is reflected normally in their higher profit earning capacity over competing firms in the same industry. Otherwise, the firm is utilising it's capital or capacity better than its competing firms in the industry. The need for accounting... read more

Goodwill is the reputation being enjoyed by an organization. This is reflected normally in their higher profit earning capacity over competing firms in the same industry. Otherwise,  the firm is utilising it's capital or capacity better than its competing firms in the industry.

The need for accounting for goodwill arise when there is reconstitution of the partnership or sale or purchase of business. 

Usually,  goodwill is valued at no of years maintenance of average profits or super profits. As a refined method, goodwill is valued basis annuity considering the time value of money or it's present value. 

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Lesson Posted on 19 Aug CBSE/Class 12/Commerce

Accounting for Guarantee in partnership

Vijaya Kumar V

I am a M. Com, M.PHIL, IFRS, Diploma in Banking & Finance and served as Professor of commerce for 4 years....

Guarantee of specific profits to a partner by the firm or any one or more partners is to attract a qualified professional into partnership to capitalize his/her skills or reputation earned by him/her to the advantage of the firm. A specific clause is agreed in the partnership deed whereby guarantee... read more

Guarantee of specific  profits to a partner by the firm or any one or more partners is to attract a qualified professional into partnership to capitalize his/her skills or reputation earned by him/her to the advantage of the firm. 

 

A specific clause is agreed in the partnership deed whereby guarantee of profit is specified. 

Ex:

A, B and C are partners sharing profits and losses equally.  Partner C is guaranteed with a minimum share of profit of 50000.

Suppose that the profits for the year 2017-2018 is 120000. Each partner shall get 40000 as profit share. However,  C shall get 10000 more to attain min guaranteed profit of 50000. Thus A and B sacrifice 5000 each from their respective share of profits earned. Below is the final share of profits credited to each partner 

A 35000

B 35000

C 50000

Hope this topic is easy to understand.

 

Regards 

VIJAYAKUMAR V

 

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Asked on 19 Aug CBSE/Class 12/Commerce

In the absence of a partnership deed, can a partner claim 10% rate of interest on the loan given to... read more

In the absence of a partnership deed,  can a partner claim 10% rate of interest on the loan given to the firm?

Can a partnership deed agree a interest rate on loan from partners lower than that is prescribed in the partnership act, 1932?

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Lesson Posted on 30 Jul CBSE/Class 12/Commerce/Business Studies

notes on all the process related questions in Bst class 12 CBSE

Shashi Ramachandran

I am an experienced, qualified teacher with over 18 years of experience in teaching Accountancy and Business...

PROCESS RELATED QUESTIONS Planning Process Setting Objectives: The first step is setting objectives for the entire organisation and each department or unit within the organisation. Developing Premises: Since future is uncertain therefore, the manager is required to make certain assumptions called... read more

PROCESS RELATED QUESTIONS

Planning Process

  1. Setting Objectives: The first step is setting objectives for the entire organisation and each department or unit within the organisation.
  2. Developing Premises: Since future is uncertain therefore, the manager is required to make certain assumptions called as premises.
  3. Identifying alternative courses of action through which the desired goals can be achieved.
  4. Evaluating alternative courses to analyse the relative pros and cons of each alternative in the light of their feasibility and consequences.
  5. Selecting an alternative or a combination of plans which appears to be most feasible
  6. Implement the plan with the help of a strategy.
  7. Follow up action in order to monitor the plans to ensure that the desired objectives are achieved efficiently and effectively.

Organizing Process

  1. Identification and division of work: The work is divided into manageable activities so that duplication can be avoided and the burden of work can be shared among the employees.
  2. Departmentalisation involves grouping of similar activities into departments, units, sections, etc. using several criteria.
  3. Assignment of duties is done to the members as per their job positions. Once departments have been created, each of them is placed under the charge of an individual.
  4. Establishing reporting relationships each individual should also know who he has to take orders from and to whom he is accountable. The establishment of such clear relationships helps in coordination.

Staffing Process

  1. Estimating the manpower requirements on the basis of workload analysis and workforce analysis.
  • Workload Analysis number and types of human resources necessary for various jobs.
  • Workforce Analysis the number and type of human resources available.
  1. Recruitment is the process of searching for prospective employees and stimulating them to apply for jobs in the organisation.
  2. Selection is the process of choosing from among the pool of the prospective job candidates developed at the stage of recruitment.
  3. Placement and Orientation is done by giving the charge of the post to the employees for which he has been selected. It also includes introducing him to the other employees and familiarising him with the rules and policies of the organisation.
  4. Training and development is done in order to ensure continuous learning of their employees so that they contribute effectively and efficiently to achieve organisational goals. Training is given to make a person job fit whereas development seeks to increase their potential for higher level jobs.
  5. Performance appraisal is to evaluate the worth of an employee to the organisation
  6. Promotion and career planning are an integral part of people’s career and enhance their job satisfaction.
  7. Compensation refers to all forms of pay or rewards going to employees.

Selection Process

  1. Preliminary Screening helps the managers to eliminate unqualified or unfit job seekers who do not fulfil the minimum requirements of job.
  2. Selection Tests helps to measure certain characteristics of individuals.
  3. Employment Interview is a face-to-face conversation conducted to evaluate applicant’s suitability for the job.
  4. Reference and Background check is to verify information and gaining additional information about an applicant.
  5. Selection Decision is made from among the candidates who pas the tests and interview.
  6. The candidates are required to undergo a medical examination before the job offer is made.
  7. Job Offer is made to those applicants who have passed all the previous tests.
  8. Contract of Employment is issued to the selected candidate and includes information like job title, duties, responsibilities date of joining, pay and allowances etc.

 

 

 

 

 

Controlling Process

  1. Setting Standards in clear, specific and measurable terms
  2. Measurement of actual performance as far as possible in the same units in which standards are set.
  3. Comparing actual performance with standards to identify deviations if any.
  4. Analysing deviations through critical point control and management by exception approaches.
  • Critical Point Control (CPC): control should focus on key result areas (KRAs) which are critical to the success of an organisation.
  • Management by exception (MBE): only significant deviations which go beyond the permissible limit should be brought to the notice of management.
  1. Taking corrective action whenever the deviation occurs beyond the permissible limits so that it does not re occur in future.

Trading Procedure on a Stock Exchange

  1. The investor approaches a registered broker or sub-broker for trading.
  • The investor has to sign a broker-client agreement and a client registration form.
  • The investor has to give certain details and information about him including PAN number, date of birth, bank account details, income details etc.
  • After the completion of the above formalities, the broker opens a trading account in the name of the investor.
  1. The investor has to open a demat account with a depository participant and a bank account for trading transaction in cash.
  2. The investor then places an order to buy or sell shares with the broker.
  • By giving clear instructions about the desired quantity and price.
  • The broker will then make the investor aware about the feasibility of the order.
  • The broker will issue an order confirmation slip to the investor.
  1. The broker will then execute the order through screen based trading by considering the best available deal.
  2. The broker will issue a trade confirmation slip to the investor.
  3. Within 24 hours after the deal is executed the broker issues a contract note.
  • A contract note contains details about the deal i.e., the number of securities bought/sold, price, date and time of transaction etc.
  • The contract note includes a unique order code generated by the stock exchange for that transaction.
  1. Since the settlement cycle is T+2 therefore, within two days of receiving the Contract Note, the investor has to pay cash or deliver shares sold as the case may be. The can then forward it to the exchange.  This is called pay-in-day.
  2. On the T+2 day, cash will be paid or shares will be delivered as the case may be by the exchange to the other broker. This is called pay-out-day. Then, in case of sale of shares, the broker has to make payment to the investor within 24 hours.

Motivation Process

  1. Unsatisfied Need
  2. Tension
  3. Drives
  4. Search
  5. Satisfied need
  6. Reduction of Tension

Communication Process

  1. Sender
  2. Message
  3. Encoding
  4. Media
  5. Decoding
  6. Receiver
  7. Feedback
  8. Noise

                                                                                               

 

 

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