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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ORGANIZATIONAL DESIGN AND ORGANIC VS. MECHANISTIC VS. VIRTUAL STRUCTURES

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1.  Job rotation is the practice of periodically shifting workers through a set of jobs in a planned
sequence.
a.  One purpose of job rotation is to combat boredom, but its success is short-lived if tasks are too simple.
b.  Another purpose of job rotation is cross training so that there is maximum flexibility in job assignments.
c.  A related purpose is employee development so that employees increase their capabilities and understanding of various aspects of the organization.
d.  A potential problem is that rotating individuals may be treated as temporary helps and their loyalty perceived as questionable.
2.  Job enlargement is the allocation of a wider variety of similar tasks to a job in order to make it more challenging.
a.  Job enlargement broadens job scope, the number of different tasks an employee performs in a particular job.
b.  The problem is that if additional simple tasks are added, worker boredom may persist. Too, lower efficiency, mental overload, increased errors, and other problems may develop.
3.  Job enrichment,pioneered by Frederick Hertzberg, is the process of upgrading the job-task mix in order to increase significantly the potential for growth, achievement, responsibility, and recognition.
a.  Job enrichment increases Job depth,the degree to which individuals can plan and control the
work involved in their jobs.
b.  The important job characteristics model is a model developed to guide job enrichment efforts that include consideration of core job characteristics, critical psychological states, and outcomes.
c.  The job characteristics model has five core job characteristics.
 
1)  Skill variety is the extent to which the job requires a number of activities that require different skills.
2)  Task identity is the degree to which the job allows the completion of a major identifiable piece of work, rather than just a fragment.
3)  Task significance is the extent to which the worker sees the job output as having an important impact on others.
4)  Autonomy is the amount of discretion allowed in determining schedules and work methods for achieving the required output.
5)  Feedback is the degree to which the job provides clear, timely information about performance results.

d.  According to the job characteristics model, the core characteristics will increase worker motivation only if workers experience three critical psychological states.
1)  Workers must feel that the work is meaningful.
2)  Workers must know they are responsible for the outcomes.
3)  Workers must actually find out results.
e.  According to the job characteristics model, outcomes of the critical states will be higher internal work motivation, greater satisfaction of growth needs, higher general job satisfaction, and increased work effectiveness.
f.  The job characteristics model is likely to be used successfully under two conditions.
1)  Workers have high growth-need strength, the degree to which an individual needs personal growth and development on the job.
2)  Workers are satisfied with other aspects of the job context, i.e. supervision, pay, coworkers, and job security.

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