Single Entry and Double Entry Accounting

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Single entry accounting/Cash accounting. This system records only cash movement of transactions and that too up to the extent of recording one aspect of the transactions. This means that only receipt or payment of cash is recorded and no separate record is maintained (about the source of receipt and payment) as to from whom the cash was received or to whom it was paid. Double entry book keeping/Commercial accounting. Double entry or commercial accounting system records both aspects of transaction i.e. receipt or payment and source of receipt or payment. It also records credit transactions i.e. recording of Electricity Bill or accruals of Salary payment etc. This concept will be explained in detail in the next lectures but for the time being it should be noted that in cash accounting date of receipt / payment of actual cash is important while in commercial accounting the date on which the expense is caused (whether paid or not) as well as the spreading of the cost of c
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MANAGERIAL ROLES IN ORGANIZATIONS

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Management Roles:
Managers fulfill a variety of roles. A role is an organized set of behaviors that is associated with a particular
office or position.

Dr. Henry Mintzberg, a prominent management researcher, says that what managers do can best be described by looking at the roles they play at work. The term management role refers to specific categories of managerial behavior. There are three types of roles which a manager usually does in any organization.
 
Interpersonal roles are roles that involve people (subordinates and persons outside the organization) and other duties that are ceremonial and symbolic in nature. The three interpersonal roles include being a figurehead, leader, and liaison.
 
Informational roles involve receiving, collecting, and disseminating information. The three informational roles include a monitor, disseminator, and spokesperson.
 
Delusional roles revolved around making choices. The four decisional roles include entrepreneur, disturbance handler, resource allocator, and negotiator.

In the late 1960s, Henry Mintzberg concluded that managers perform 10 different, but highly interrelated roles.

Follow-up studies of Mintzberg’s role categories in different types of organizations and at different managerial levels within organizations have generally supported the notion that managers perform similar roles.

However, the more traditional functions have not been invalidated. In fact, the functional approach still represents the most useful way ofclassifying the manager’s job.

As depicted in following table, Mintzberg delineated ten managerial roles in three categories.

a.  Interpersonal roles grow directly out of the authority of a manger’s position and involve developing and maintaining positive relationships with significant others.
1)  The figurehead performs symbolic legal or social duties.
2)  The Leader builds relationships with employees and communicates with, motivates, and coaches them.
3)  The liaison maintains a network of contacts outside the work unit to obtain information.

 b.  Informational roles pertain to receiving and transmitting information so that managers can serve as the nerve centers of their organizational units.
1)  The monitor seeks internal and external information about issues that can affect the organization.
2)  The disseminator transmits information internally that is obtained from either internal or external sources.
3)  The spokesperson transmits information about the organization to outsiders.
 
c.  Decisional roles involve making significant decisions that affect the organization.
1)  The entrepreneur acts as an initiator, designer, and encourager of change and innovation.
2)  The disturbance handler takes corrective action when the organization faces important, unexpected difficulties.
3)  The resource allocator distributes resources of all types, including time, funding, equipment, and human resources.
4)  The negotiator represents the organization in major negotiations affecting the manager’s areas of responsibility
 The four major functions of management—planning, organizing, leading, and controlling provide the purpose for managers taking the roles they do.

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