Fundamentals of

Accounting

Basics
 Objectives
To Understand the
 Concept

 Characteristics &

 Objectives of Management

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Accounting Magic

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Accounting Magic

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Guess any similarity

???

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Accounting Process

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Importance of Accounting

“They all tried any how to influence the

rules of accountings and now
accounting is ruling them”

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 Accounting defined
process of identifying, measuring,
recording and communicating the
required information relating to the
economic events of an organisation to
the interested users of such information.

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 Debit & Credit

FEAR or FUN?

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 Concept of Management…
They will be given instruction to perform
(directing). And finally, their performance
(individually) as well as organization's
performance (as a group) will be evaluated to
see that the firm is working as per the norms
set (controlling) at the beginning of the year.

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 Effectiveness vs Efficiency
• By efficient utilization of resources
means using resources wisely and in
cost effective manner

• By effectiveness we mean taking the

right decisions and successfulli
implementing them.
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Characteristics of Management
• Achieving organisational objectives

• Distinct Activity

• Group Efforts

• Intangible

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Characteristics of Management
• Influence behaviour

• Working with and through others

• Composite process

• Balancing effectiveness & efficiency

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Objectives of Management
• Organizational Objectives

• Social Objectives

• Individual Objectives

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Organizational Objectives
 Market standing:

 Innovation

 Productivity

 Physical and financial resources

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Organizational Objectives
 Profitability Innovation

 Management performance and

development
 Worker performance and attitude

 Public responsibility

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 Social Objectives
 Health

 Safety

 Labour practices

 Physical improvement of the community

and environment

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Individual Objectives
 Competitive salary

 Personal growth and development

 Peer recognition and

 Societal recognition

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Any Questions

?
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