Notes and Study material for Exams
QUICK REVISION SERIES RAS MAINS UNIT III :Part B- Management Modern Concept of Marketing: Modern concept of marketing concentrates majorly on consumer satisfaction. According to this concept, marketing starts from discovery of consumer needs and wants and ends with the satisfaction of those needs and wants. Draw flow chart like this: Survey … Read more
Audit and accounting: Auditing is defined as the systematic and independent assessment and examination of data, statement, records, operations and performance, financial or otherwise of an enterprise. Objectives of Auditing: PRIMARY OBJECTIVE Examining the system of Internal check Checking arithmetical accuracy of books of accounts Verifying the authenticity and validity of transactions. Checking the … Read more
RAS MAINS REVISION: Part III Auditing and Accounting Social Audit: It is a tool through which government department can plan, manage and measure non-financial activities and monitor both internal and external consequences of the department social and commercial operation. OR Social Audit is an independent evaluation of the performance of an organisation as it relates … Read more
Part C Accounting and Auditing; Budgetary Control: Definition: Budgetary control is the process by which budgets are prepared for the future period and are compared with the actual performance for finding out Variance. Obj. of BC: Define the objectives of the organisation Providing plans to achieve the objectives Coordinating the activities of various departments … Read more
Social Audit “Social Auditing is defined as a systematic attempt to identify, analyse, measure (if possible), evaluate, and monitor the effect of an organisation’s operations on Society (that is, specific social groups) and on the public well-being.” Social audit as a term was used as far back as the 1950s. In a nutshell, it refers … Read more
Administration and management: Meaning, nature and significance The English word ‗administer‘ is derived from a combination of two Latin words and ‗ministrate‘ meaning ‗to serve or manage‘. Literally, the term means management the affairs of public or private. Administration refers to mobilisation of Resources – human and material- to achieve pre-set of objectives. Administration is … Read more
COST OF CAPITAL The primary meaning of cost of capital is simply the cost an entity must pay to raise funds. The term can refer, for instance, to the financing cost (interest rate) a company pays when securing a loan. In other words, Cost of capital refers to the opportunity cost of making a specific Investment. It is the rate … Read more
An internal control is a procedure or policy put in place by management to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behaviour. In other words, an internal control is a process put in place to prevent employees from stealing assets or committing fraud. An internal control is a business practice, policy or … Read more
DECISION MAKING is an essential part of planning. Decision making and problem solving are used in all management functions, although usually they are considered a part of the planning phase. A discussion of the origins of management science leads into one on modeling, the five-step process of management science, and the process of engineering … Read more
COORDINATION “The Harmonization of activities of different work groups and departments.” Coordination is the orderly arrangement of individual and group efforts to provide unity of action in the pursuit of a common goal. All these departments must function in an integrated manner so that the organisational goal can be duly … Read more