Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Role of Leaders in Shaping Organizational Culture

Management Principles

Management Accounting – Definition, Nature and Functions

That part of accounting system which facilitates the management process of decision-making is called management accounting.   Basically it is the study of managerial aspect of financial accounting, “accounting in relation to management function”. It shows how the accounting function can be re-oriented so as to fit it within the framework of management activity. It presents accounting information in such a way as to assist management in the creation of policy and in the day-to-day operations of an undertaking.    Management accounting has the ability to communicate a great variety of facts in a systematic and meaningful manner.   The task of management accounting is not to make decisions; rather it facilitates the process of decision-making.   Management accounting is a systematic approach to planning and control functions of management.   It generates information for establishing plans and controls. Definition of  Management Accounting According to the  Chartered Institute of Management Continue reading

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Absenteeism in the Workplace

Absenteeism is habitual or pattern of absence from the duty. Absenteeism is viewed as indicator of poor individual performance, or poor employee morale. Its found that rate of absenteeism is lowest on pay day it increase considerably the days following payment of wages. Absenteeism is generally higher in young workers below the age of 25 to 28. The young employees spend more of their time with family and friends. Percent of absenteeism is high in night shift as compared to day shift. There are two types of absenteeism which are as follows: Innocent absenteeism: Innocent absenteeism refers refer to employees who are absent for reason beyond their control, like sickness and injury. Culpable absenteeism: Culpable absenteeism refers to employees who are absent without authorization for reasons which are within their control. For example if an employee is on sick leave even though he or she is not sick and if Continue reading

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Re-Insurance and Double Insurance

Re-insurance and double insurance contracts are two different concepts and are detailed here under. They both are similar to the contract of insurance, however, they have their own nature and the contract goes on as per the requirement. Re-insurance Every insurer has a limit to the risk that he can undertake. If at any time a profitable venture  comes his way, he may insure it even if the risk involved is beyond his capacity. Then in order to  safeguard his own interest, he may insure the same risk either wholly or partially with other insurers. This  is called re-insurance. The reason for re-insurance like the reason for original insurance is the necessity  of spreading the risk. Re-insurance can be resorted to in all kinds of insurance. The insurer has an insurable interest in  the subject-matter insured to the extent of the amount insured by him because a contract of re-insurance Continue reading

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Commercial Bill – Meaning, Characteristics and Types

Bills of exchange are negotiable instruments, drawn by the seller (drawer) of the goods on the buyer (drawee) of the goods for the value of the goods delivered. These bills are known as trade bills. Trade bills are called commercial bills when they are accepted by commercial banks. If the bill is payable at a future date and the seller needs money during the currency of the bill, he may approach his bank to discount the bill. The maturity proceeds or face value of a discounted bill from the drawee is received by the bank. If the bank needs funds during the currency of bill, it can rediscount the bill that has been already discounted by it in the commercial bill rediscount market at the available market discount rate. The RBI introduced the Bills Market scheme (BMS) in 1952 and the scheme was later modified into the New Bills Market Continue reading

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Case Study: Scam of the Century – Bernie Madoff’s Ponzi Scheme

In the world of finance, there are a select amount of manipulative masterminds that sit on a throne of lies. Those who commit these white-collar crimes take advantage of institutions and all classes of people. Ultimately, the enormity of these crimes brings ruin and chaos to the lives of those affected. In this manner, Bernard Lawrence Madoff is just one of these individuals who ran history’s largest Ponzi scheme. To begin, Bernie Madoff was born in Queens, New York in 1938. He received his Bachelor’s degree in Political Science from Hofstra University in 1960 and shortly thereafter started his own firm known as Bernard L. Madoff Investment Securities, LLC., which offered reliable returns, alongside his wife Ruth. Due to the companies growing popularity from those reliable annual returns, his client list grew to include impressive celebrities like Steven Spielberg, Kevin Bacon, and Kyra Sedgwick. Also included were some of the Continue reading

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Different Types of Transactions in the Foreign Exchange Market

A very brief account of certain important types of transactions conducted in the foreign exchange market is given below Spot and Forward Exchanges Spot Market: The term spot exchange refers to the class of foreign exchange transaction which requires the immediate delivery or exchange of currencies on the spot. In practice the settlement takes place within two days in most markets. The rate of exchange effective for the spot transaction is known as the spot rate and the market for such transactions is known as the spot market. Forward Market: The forward transactions is an agreement between two parties, requiring the delivery at some specified future date of a specified amount of foreign currency by one of the parties, against payment in domestic currency be the other party, at the price agreed upon in the contract. The rate of exchange applicable to the forward contract is called the forward exchange Continue reading

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