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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COMMON ORGANIZATIONAL DESIGNS

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A.  Traditional organizational designs.

We now need to look at various organizational designs that you might see in today’s organizations.
1. A simple structure is an organizational design with low departmentalization, wide spans of
control, authority centralized in a single person, and little formalization.
a.  Its strengths are its flexibility,speed and low cost to maintain.
b.  Its major drawback is that it’s most effective in small organizations.
As an organization grows, the structure tends to become more specialized and formalized. When contingency factors favor a bureaucratic or mechanistic design, one of two options is likely to be used.
2.  One option expands functional departmentalization into the functional structure,which is an organizational design that groups similar or related occupational specialties together.
3.  The other option is the divisional structure,which is an organizational structure made up of autonomous, self-contained units.

B.  Contemporary organizational designs
However, many of today’s organizations are finding that the traditional hierarchical organizational designs aren’t appropriate for the increasingly dynamic and complex environments they face.
1. Team-based structures:
One of the newer concepts in organizational design is the team-based structure,which is an organizational structure made up of work groups or teams that performs the organization’s
work.
2.  Project and matrix structures:
Another variation in organizational arrangements is based on the fact that many of today’s organizations deal with work activities of different time requirements and magnitude.
a.  One of these arrangements is the matrix organization that assigns specialists from different functional departments to work on one or more projects being led by project managers.
b.  Another of these designs is the project structure,which is a structure in which employees are permanently assigned to projects.
3.  Autonomous Internal Units:
Some large organizations have adopted a structure that’s described as autonomous internal units, a design in which there are independent, autonomous decentralized business units, each with its own products, clients, competitors, and profit goals.
4.  The Boundary less Organization:
Another approach to organizational design is the boundary less organization, which describes an organization whose design is not defined by, or limited to the horizontal, vertical, or external boundaries imposed by a predefined structure.
5. Learning Organization:
An organization that facilitate the life long learning and development of its employees while transforming itself to respond to changing demands and needs of market. 

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