Single Entry and Double Entry Accounting

-
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...
Post a Comment

ORGANIZATIONAL DESIGN AND ORGANIC VS. MECHANISTIC VS. VIRTUAL STRUCTURES

-
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.

Comments

Post a Comment

Popular posts from this blog

RECORD KEEPING AND SOME BASIC CONCEPTS

-
Image
We can maintain a diary of transactions and note the daily transactions like sale, purchase etc. in it. Problems Faced in Maintaining Diary of Transactions • How will we come to know the income and expenses from various sources? • We only have a sheet / page on which daily transactions are listed. • We do not know which product is selling better and which is not. Available Alternate One can go through all the transactions at the end of the month and note different types of transactions on different pages. So that every page gives complete detail for a different type of transaction like sales of different products and expenses of different types now try to go through these transactions and separate transactions of different types.   But what if the number of transactions is large? Is it really possible to go through hundreds or thousands of transactions at the month end and analyse them to obtain required results.  Sales and purchase are not always for cash...
Read more

Human Resource Strategies and Policies

-
Managers call the specific human resource management policies and practices they use to support their strategic aims  human resource strategies. The Shanghai Portman's human resource strategy aimed to produce the service-oriented employee behaviors the hotel needed to improve significantly the hotel s level of service. Its HR policies included installing the Ritz-Carlton Company s human resource system, having top management personally interview each candidate, and selecting only employees who cared for and respected others. The accompanying HR as a Profit Center feature presents another example. HR AS A PROFIT CENTER Several years ago, Albertsons Markets had to improve performance, and fast. With 2,500 stores and 230,000 workers, it faced competition not only from grocery chains, but also from Walmart and online sites. Albertsons overall strategic aims included reducing costs, maximizing financial returns, becoming more customer-focused, and energizing employees. Albertsons...
Read more

Why Is Human Resource Management Significant to All Managers?

-
AVOID PERSONNEL MISTAKES; First, having a command of this knowledge will help you avoid the sorts of personnel mistakes you  don t want to make while managing. For example, no manager wants to: * Hire the wrong person for the job * Experience high turnover * Have your people not doing their best * Waste time with useless interviews * Have your company taken to court because of your discriminatory actions * Have your company cited under federal occupational safety laws for unsafe practices * Have some employees think their salaries are unfair relative to others in the organization * Allow a lack of training to undermine your department s effectiveness * Commit any unfair labor practices IMPROVE PROFITS AND PERFORMANCE Similarly, effective human resource management can help ensure that you get results through people. Remember that you can do everything else right as a manager lay brilliant plans, draw clear organization charts, set up world-class assembly line...
Read more