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Financial statements are the summaries of the operating, financing and investment activities of business. It must give useful information for investors and creditors in making
In fast growing business world, major goal of organizations is to reduce the cost of production and control the cost as there are limited resources
In accounting, there are two basic systems used to assign costs to products or services that include Job costing and process costing. Job costing: Job costing
Cash flow statement is imperative term in accounting arena. The statement that explains cash inflows and outflows of a company for a particular period is
Concept: Management accounting is wide arena of accounting. The phrase Management Accounting includes two words, Management and Accounting. It refers to Accounting for the Management. Management
The notion of funds is described by several accountants in different way. The term funds have different meaning according to interpretation of accountants and accounting
A budget contributes a lot in economic policy of any company. Budget is a financial plan and a list of all planned expenditures and profits.
The budgeting process is a tool for setting goals and objectives to recognize weaknesses or inadequacies in organizations, and for controlling and integrating the diverse
Effective human resources can give organization with structure and the ability to fulfill business needs through managing company’s employees. Human resource management is a body
Organizational Climate Organizational climate is definitely exclusive elements in today’s convoluted business. In the academic literature of organizational field, the notion of organizational climate has
Human resource information system comprises of people, forms, procedures and date which is used to gather, store and distribute human resource information. There are bulk
Due to increased globalization and easy mobility and communications between countries, companies operate at international level. Major task for organizations which operate across international boundaries
Human resource accounting is the procedure to recognize and report the investments made in the Human Resources of an Organization that are currently not accounted
Compensation management and benefits is vital function of human resource managing team of companies who operate at international level. It is very important to compensate
It is established in many theoretical studies that employees who are satisfied with work culture of organization are more productive and there is a specific
Performance management is one of the central processes of human resource management. It is an ongoing process of communication between a manager and an employee
Human resource is the key area of any organization and its efficient operation can lead huge organizational success and may provide financial benefit on investment
Human Resource Management is a process of connecting people and organizations to accomplish targeted goals. It is a part of management process which is associated
Training programs are performed by HRM of organizations to develop proficiencies and competence in order to improve performance at workplace. Most organizations perceive training as
Human Resource Management constantly contributes to improve productivity and financial status of organization. There are many functions of human resource management. Recruitment and selection is
Job evaluation is the process to assess the relative value of a job in an organisation by comparing it with other jobs within the organisation
Human resource planning is vital function in organizations which is performed to make certain that they have the appropriate and the right kind of people
Globalization has changed the organizational setting and it greatly affects the work and jobs in organization. The job design efforts to generate jobs that correctly
Multinational companies are operating in tough competitive environment and human resource managers are continually facing business challenges because of the development of Internet-enabled technologies and
Power and politics are considered as major aspects of organization. Power and politics play a huge role in industry and govern how to make decisions,
The research and thorough study of organizational theory is significant for practical contemplation. There are several theoretical approaches in organization processes. Classical Approach In
In management studies, it is established that values are linked to attitudes that a value serves as a way of organizing. Theorists stated that attitudes
Within organization, the phrase ‘diversity’ entails the major differences between people, including perceptions of differences that need to be considered in particular situations to manage
Conflict and negotiation are significant components to operate business. Business possessors may have conflict with many groups like partners, managers, employees and the general public.
Organizational behaviour has major role in business processes of organizations. Scrutiny of the elements of organizational behaviour facilitates a better understanding; predicting and control of
Organizations are facing numerous challenges with the pace of technological development therefore they need efficient system to survive in marketplace. To manage organizational activities successfully,
Motivation is a mental characteristic that stimulates person to act towards a needed goal and elicits, controls, and maintains certain goal-directed behaviours. It is a
In theoretical studies, perception is described as a cognitive process. People’s individual differences and distinctiveness are mainly the result of the cognitive processes they use
In current business marketplace, leadership style has great role in organization’s economic wealth and progress. Leadership is indispensable in an organization because leader’ trait may
Decision making is an important process in organizational set up. It involves identifying and choosing other solutions that result in desired action. Decision making is
It is a principal motivation for many employees to stay in organizations. Learning has a major impact on individual behaviour as it influences abilities, role
The Learning Organisation is widespread viewpoint in contemporary companies. A learning organization has potential to change its behaviours and mentality as a result of experience.
The concept of organization culture is thoroughly studied in organizational theory and design. Organizational culture attracted to organizational theorists and researchers who were dissatisfied with
Successful firms must develop thorough understanding of organizational behaviour. Organization behaviour is the study of the working and performance of individuals, groups, and teams within
There is a lot of pressure on small and medium sized companies to become virtual organizations in contemporary business environment because it is changing at
Stress is a general feature in human existence. It is not related to specific culture, though it is experienced by humans in varied form and
Social Responsibility Social responsibility denotes differentiating right from wrong and doing the right thing. It means being a good corporate inhabitant. Social responsibility is management’s
Process Orientation Process and customer orientation are major elements in management function. Process orientation of an organisation is described by a change of focus that
Flexibility is a type of characteristics in management that facilitates a mixed model manufacturing system to cope up with a certain level of variations in
Management is studied in business academics since earlier times and it is considered as an integral part to understand business operations. People have been changing
With fast development in business field, management environments are becoming more diverse and multifaceted. Global Organizations are those which operate and compete in more than
In present business situation, companies are bound to go for the effective management of innovation. To become inventive, companies must have to develop new products
The phrase ‘entrepreneur’ is derived from French word ‘Entreprendre’ which entail an organizer of musical or other entertainments. In the late of 16th century it
Management is the most challenging task in present business world. It needs certain skills to beat such challenge. Therefore every manager must possess essential skills
In any organization, managers have significant contribution for the success and its economic enhancement. He/she is a person who fulfils the primordial managerial functions and
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