Showing posts from March, 2014


The financial statements are prepared on the basis of recorded facts. The recorded facts are those which can be expressed in monetary terms. The statements are prepared for the particular period generally one year. The following of the nature of the financial statements are discussed below:- Recorded Facts:- The data which is taken out from the accounting records is known as recorded facts. Actual cost data are the source of maintaining the accounting records.
Accounting Conventions:-Various accounting conventions such as historical cost convention , Monetary measurement, Separate Entity, Materiality, Realization,  etc  are adopted to prepare external  and internal Financial accounts. The accounting conventions help to make financial statements realistic, comparable and simple.
Personal judgments:-For preparing financial statements, standard accounting conventions is very important instead of this One important things plays a very important role in making …


TRAINING METHODOLOGY The present response which comes out from the training system for making rapid changes in structure is known as training methodology. This response helps in designing new training program by modifying the existing training system. Employees are trained by adopting this new training program. Basically there are two types of Training Methods are adopted by an organization: - ON - THE JOB TRAINING METHODSOFF - THE JOB TRAINING METHODS
ON THE JOB TRAINING METHOD This method is applied in the workplace, while employees are actually working. Following are the methods on the job training: - Experience The oldest method of on the job training is Experience. Learning by experience cannot and should not be eliminated as a method of development. Coaching The techniques involves direct usually with extensive demonstration and continuous critical evaluation and correction. In this approach the supervisor should be properly trained and oriented. Understudy The understudy method makes the …


A training need analysis or training need assessment is a methodical process of knowing that there is a need of training exists or not among the employee and if the need of training exists, which type of training is needed to reduced the gap between standard performance & actual performance of the employee in an organization. The main purpose of Training Needs Assessment is to recognize the Knowledge, Skills, and Abilities of the employee required in organizations to meet its standard performance. 
Training needs analysis conducted due to following reasons: - By applying Training need analysis, it is very easy to identify the deficiencies.Knowledge, Skills, and Abilities (KSA) of the employees are very important for the growth of an organization. Training need analysis helps to known whether the employees lack Knowledge, Skills, and Abilities or not.It helps to ensure that whether the training is provided to the right employee or not.With the help of trainin…

Advantages of Maintaining good Employee Relation

Advantages of Maintaining good Employee Relation Many study proved that a more engaged employee is also a more profitable and more productive employee. A satisfied employee can focus on organizational growth and cooperate with their colleagues. On the other hand, unsatisfied employee hampers the production of the organization and making the working environment not suitable for working.  So maintaining good employee relation is very much important for the development and growth of the organizations. Following are the advantages of maintaining good relations with the employees: - Less Absenteeism: - Generally employee absent from duties due to illness. Stress is also one of the reasons for absenteeism.  When the relations of employee with manager or supervisior are not good then stress occurs.  To reduce the absenteeism in the organization, it is very necessary to maintain good relation with the employees. Good relations build confidence among the employees and they become satisfied with …


EMPLOYEE RELATION It is obvious that in organizations, Employee interact with each other during work, officially and formally as well as informally and socially. Relationships develop among the employees during this course of interaction. These relationships are love, respect, hate, anxiety, fear, etc. These relationships are continuing for long time as the employee has to spent lot of time with them. Sometimes employee helps each other and sometime tries to make their colleague insult.  A relationship involves feelings for each other. This feelings may be positive (friendly, wanting to be close) or negative (unfriendly, wanting to be distant). Positive feelings mean want to friendly with each other or want to help each other. Negative feeling mean hated each other or dislike each other. Relationships cannot exist without interactions. In relationship, no neutral point exists. We can’t say that Indifference is neutral because it tends to negativity. Relationships depend upon the behavio…

Human Resource Management: an overview

Human Resource Managementis an essential part of management. Human Resource is a very important resource for any management and human resource management helps the management to take the right step to satisfy its human resource and got maximum output from them. Its main objective is to identify the knowledge, key skills, dedication of the employees and distribute the rewards among the good employees whenever required so that the goals of the organisation are fulfilled.  Human Resource Management also looks up the training and development activities of the employees to enhance the capability. It is also the responsibility of the Human Resource Management that they recruit the best employees at an optimal cost to increase the efficiency and productivity. Functions Every organization need a Human Resources management department for various functions such as recruiting  new employees, tracking and recording employees sick leave and absenteeism, making policies to monitoring benefits etc. Th…


1.METHODS OR DEVICES OF FINANCIAL ANALYSIS The following methods of analysis are generally used: Comparative statementsTrend analysisCommon – size statementsFund flow AnalysisCash flow AnalysisRatio AnalysisCost – volume profit Analysis2.ANOTHER WAY TO ANALYZE THE FIRMS BY MEANS OF    CORPORATE     GOVERNANCE From the above methods we have selected RATIO ANALYSIS to analyze the financial position of SAIL because this is one of the most powerful tools of analyzing the financial statement of a concern. It is from the help of ratios that the financial statement can be analyzed more clearly and decisions can made from such analysis. RATIO ANALYSIS: Ratio analysis is a technique of analysis and interpretation of financial statements. It is a process of establishing and interpreting various ratios for helping in making certain decisions. However, ratio analysis is not an end in itself. It is only a means of better understanding of financial strengths and weaknesses of a firm. The following are f…


As we known business is concerned with the financial activities. In order to ascertain the business every enterprise prepares the certain statement, known as financial statement. Financial statements at least refer to the two statements which are prepared by a business concern at the end of the financial yearThese are: Income statement or Trading and Profit and Loss account which is prepared by a business concern in order to known the profit earned and loss sustained during a specific period.Position statement or Balance Sheet which is prepares by a business concern on a particular date in order to known them financial position.
These statements are added the statement of Retained Earnings and some other statement (such as fund flow statements, cash flow statements, etc.) and schedules of fixed assets (such as Investments and Equipments) and Debtors etc. to give a full view of financial affairs.
”Financial Statements” are interim reports, presen…