Personal Incentive and Supervision

There is no divorce between ownership and management. Partners share in the profits and losses of the firm and there is motivation to improve the efficiency of the business. Personal control by the partner increases and the possibility of success. Unlimited liability encourages caution and care on the part of partners. Fear of unlimited liability discourages reckless and hasty action and motivates the partner to put their best efforts.

http://caindwarka.com

#chartered_Accountant_in_Dwarka

#ca_firm_in_dwarka.com 

Lack of Harmony

The success of partnership depends upon mutual understanding and co-operation among the partners. Continued disagreement and bickering among the partners may paralyses the business or may result in its untimely death. Lack of a central authority may affect the efficiency of the firm. Decisions may get delayed.

http://caindwarka.com

#ca_firm_in_dwarka
.#chartered_Accountant_in_Dwarka

Specialization and Balance Approach

The partnership firm enable the pooling of abilities and judgment of several persons. combination abilities and judgment result in move efficient management of the business. Partners with complementary skills may be chosen to avail of the benefits of specialization. Judicious choice of partners with diversified skills ensure balanced decisions. Partners meet and discuss the problems of business frequently so that decision can be taken quickly.

http://caindwarka.com

#ca_in_dwarka
#chartered_Accountant_in_Dwarka
#ca_firm_in_dwarka.com

Full Interruption Test

The full interruption test is the most comprehensive type of test. In a full test, a real emergency is simulated as closely as possible. Therefore, comprehensive planning should be a prerequisite to this type of test to ensure that business operations are not negatively affected. The organisation implements all or portions of its BCP by processing data and transactions using back up media at the recovery site.

http://caindwarka.com

#chartered_Accountant_in_Dwarka

#ca_firm_in_dwarka.com

Risk Monitoring and Testing

The risk monitoring and testing is the final step in the cyclical business continuity planning process. The risk monitoring and testing ensures that the business continuity planning process remains viable through the incorporation of the BIA and risk assessment into an enterprise wide BCP and testing program me. 

http://caindwarka.com

#ca_firm_in_dwarka.

#chartered_Accountant_in_Dwarka

Present and use the Information

The knowledge gained can now be presented in a format that is easy to understand and allows those receiving the information to make at the right level and in the right way for the intended audience. Often there is a gap between what IT report and what is of interest to the business. Although most reports tend to concentrate on area of poor performance, good news should be reported as well.

http://caindwarka.com

#ca_in_dwarka

#ca_firm_in_dwarka.com

#chartered_Accountant_in_Dwarka

Selecting Records

Before one can perform an operation on a column or row, one must select int. In order to select a column, click the column head. In order to select several column, one can click a column head and then drag. in order to select a row, then click the blank area to the left of the row. In order to select several rows, one can click the bank area to the left of a row and then drag. In order to select the entire table, click the select All bottom in the upper-left corner of the table.

http://caindwarka.com



#chartered_Accountant_in_Dwarka

Direct, or Hashed Access Files Organisation

With direct or hashed access a portion of disk space is reserved and a 'hashing' algorithm computers the records address. So there is additional space required for this kind of file in the store. The records are placed randomly through out the file. The records are accessed by address that specify their disc location. Also, this type of file organisation requires a disk storage rather than tape. it has an excellent search retrieval performance, but care must be taken to maintain the indexes. The files in his type are stored in direct access storage device such as magnetic disk, using an identifying key.

http://caindwarka.com

#ca_firm_in_dwarka.com

#chartered_Accountant_in_Dwarka

File Organisation

The file organisation refers to the relationship of the key of the record to the physical location of that record in the computer file. A file should be organised in such a way that the records are always available for processing with no delay. this should be done in line with the activity and volatility of the information. The file organisation may be either physical file, or a logical file.

http://caindwarka.com

#ca_in_dwarka

#ca_firm_in_dwarka.com

#chartered_Accountant_in_Dwarka

Software Lifecycle Management

Both development and application managers need to pay attention to software lifecycle management for different reasons. Many organisations will be able to leverage the capabilities of iteration to further extend software life and reduce the need for additional development. A formal approach to software lifecycle management may well be in order.

http://caindwarka.com

#ca_in_dwarka

#ca_firm_in_dwarka.com

#chartered_Accountant_in_Dwarka

Mobile Application

The mobile applications are quite volatile as mobile manufacturers continue to introduce new device and approaches, picking a stable platform remain a difficult decision. Despite the fact that consumer phone are exciting, one needs to wait for validation of new platforms before basing the business IT strategy on them.


http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka  

Cloud Based Enterprise Solutions

The more and more organisation would explore cloud based solutions. The cloud application platforms that allows the option of on-demand or on-premise deployment. The private cloud will dominate this trend for a few years, especially, with the larger companies who are risk averse and want to move into the cloud in smaller steps.

http://caindwarka.com

#ca_firm_in_dwarka 

Classification of Computing

The computing are available in different shapes, size, processing capacities, and weights. Owing to these different shapes and size they perform different types of jobs and have different functional. A computer that is used in a home differs in size and shape from the computer being used for business purpose. Here, we are going to introduce different classifications of computers one by one. However, the categorical distractions among these groups are becoming blurred as technology progresses. Today, many of the new, smaller machines have the characteristics and capabilities of the larger machines of yesterday.


http://caindwarka.com

#ca_firm_in_dwarka

  

Wise-man's Strategic Model

Charles Wise-man emphasized that since the organisations have started using information systems for managing their business activities, it is important for these organisation to use the information system for gaining the desired competitive advantage. Wise-man also stressed that the significance of information system does not lie only in the technological sophistication, but upon the role that they play in gaining and maintaining the competitive advantage for the organisations. It is also true that one may not get the competitive advantage all the time by implementing information systems solutions, but it certainly can serve as an important tool in organisation's strategic plan. Add to that, wise-man suggested that while developing a strategic plan, both business and information management people must be involved, as this will help on better integration of technology into the business.

http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka  

Competitive Forced Models

In order to create a competitive strategy for an organisation, as per porter's model it is important for an organisation to understand how structurally attractive is the industry in which the organisation exists and what is the organisation's relative position in that industry? These questions are  subjective and dynamic, as these can also be influenced by the behavior of the competitors. The competitive strategy is an organisation's plan for achieving sustainable competitive advantage over, or reducing the edge competitors. In perter's model, the performance of an organisation is determined by the extent to which they mange and manipulate the five key 'forces' which make up the industry structure:

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Greater Risk

Due to concentration of resources, risk are increased after combination. There are risks also due to the public distrust, danger of legal action, possibility of inefficient and dishonest management. All eggs are put in one basket, the contract of combination may not be kept, and every unit places itself at the mercy of erstwhile rivals.


http://caindwarka.com


#chartered_accountant_in_dwarka.com

Exploitation of Consumers

By restricting output, a combination tends to raise prices to consumers. Due to its monopoly power, it may operate in a conspiracy against the consumer. It also exploits the workers by restricting opportunities for employment and by dictating conditions of employment.


http://caindwarka.com

#ca_firm_in_dwarka.com

#chartered_accountanat_in_dwarka

Cult of the Colossal (Respect for Bigness)

The tendency to consider big firms more efficient and fancy for everything big has also encouraged combinations in industry. Ambitious businessmen are inspired by the ambition of power and prestige that comes from the ownership of giant enterprises. The managing agency system in India created business empires partly because of this reason. Lust for power has led people to build industrial empires.


http://caindwarka.com

#ca_in_dwarka

#ca_firm_in_dwarka.com

#chartered_Accountant_in_Dwarka

Line Authority Relationship

The ultimate responsibility for management lies with the Minister concerned. The Minister, in turn, delegates his authority downward to the various levels, e.g., the department head, the chief executive of the undertaking, etc. Thus there is line authority relationship among the executives.


http://caindwarka.com

#chartered_accountant_in_dwarka

Weak Organisation and Management

Small scale firms are generally managed by owners who very often do not possess the skills required for the efficient management of the enterprises. There is lack of proper division of work and the benefits of specialization are not available. Some owner-managers are reluctant to adopt modern methods of organisation and management.


http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Mobilisation of local Resources

Small scale industries facilitate mobilization and utilization of local resource and skill which might otherwise remain latent or underutilized. Small business promotes a new cadre of small entrepreneurs and encourages local talent. The growth of small enterprises helps in tapping latent resources like entrepreneurial skills and small savings specially in rural areas.


http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Public Confident

A public enjoys the confidence of public because its activities are regulated by the government under the companies Act. Its affairs are known to public through publication of accounts and reports. It can always keep itself in tune with the needs and aspirations of people through continuous research and development.

http://caindwarka.com

#ca_firm_in_dwarka 

Transfer ability of Shares

A member of a public limited company can freely transfer his shares without the consent of other members. Shares of public companies are generally listed on a stock exchange so that people can easily buy and sell them. Facility of transfer of shares makes investment in companies liquid and encourages investment of public saving in into the corporate sector.


htto://caindwarka.com

#chartered_accountant_in_dwarka

#ca_in_dwarka

#ca_firm_in_dwarka

Lack of Motivation and Personal Touch

There is divorce between ownership and management in a large public company. The affairs of the company are managed by the professional and salaries managers who do not have personal involvement and stake in the company. Absentee ownership and impersonal management result in lack of initiative and responsibility. Incentive for hard work and efficiency is low. Personal contact with employees and customers in not possible.


http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Simulation Test

A simulation test is somewhat more involved than a structured walk-through test because the participants choose a specific event scenario and apply the BCP to it. However, this test also  represents a preliminary step in the overall testing process that may be used for training employees, but it is not a preferred testing methodology.

http://caindwarka.com

#ca_firm_in_dwarka

Testing Methods

The testing methods can vary from simple to complex depending on the preparation and resources required. Each bears its characteristics, objectives, and benefits. The testing methods include both business recovery and disaster recovery exercises. The business recovery exercises focus on testing the continuity of technology components, including systems, networks, applications, and data.



http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Risk Monitoring and Testing

The risk monitoring and testing is the final step in the cyclical business continuity planning process. The risk monitoring and testing ensures that the business that the business continuity planning process remains viable through the incorporation of BIA and risk assessment into an enterprises wide BCP and testing programme.

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka 

Online Strategy

The next stage in the e-business model is defining the online strategy. As part of the online strategy, one needs to decide on the online product, services or information offering. Defining the online offering requires organisations to identify the scope of offering; identify the customer decision process, and also to mp the offering to the customer buying process. All these tasks need to be performed in  sequential manner. The basic objective of  formulating the online strategy is to identify the activities or tasks to be performed in the online space and the activities or tasks to be performed in the online space using traditional infrastructure.

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Indexed Sequential Access Organisation

Here the records are stored sequentially on a direct access device i.e. magnetic sick and the data is accessible randomly and sequentially. It covers the positive aspects of both sequential and direct access files. In this the search key is compared with the index ones to find the highest index key preceding the search one, and a liner search is performed from the record the index key point onward, until the search key in matched, or until the record pointed by the next index entry is reached. The type of file organisation is suitable for both batch processing and online processing and online processing. Here,  the records are organised in sequence for efficient processing of large batch jobs but an index is also used to speed up access to the records. The indexing permit access to selected records without searching the entire file.

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Organisational Structure

Organisations are structure in many ways, which is dependent on their objectives and culture. The structure of an organisation defines how it is going to operate and perform business. With organisation structure one defines the responsibilities foe different function and processes to different departments and employees. Organisational structure are created to maximize the efficiency and success of the organisation. So, it becomes important to understand the complete structure of an organisation while implementing the information system.


http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Shift is Organisational Structure

Organisations are moving out from typical hierarchical structure to more flat and networked structure. With the change in structure, organisational decision-making process is also changing from centralized to de-centralized decision-making. The concept of virtual working groups are being introduced, where employees need not physically move to project locations but instead can participate from their own work locations. All these are possible, if organisations integrate their information flow on a common network for which they need to integrate information technology.


http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Artificial legal person

A company is an artificial person created by law and existing only in contemplation of law. It is intangible and invisible having no body and so soul.c It is an artificial person because it does not come into existence through nature birth and if does not possess the physical attributes of a nature person. Like a nature person, it has right and obligations in terms of law. But it cannot do those acts which only a natural person can do, e.g., taking an oath in person, enjoying married life, going to jail, practicing profession, etc. A company is not a citizen and to enjoys no franchise or other fundamental rights.

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka 

Advantages of Industrial Estates

An industrial estate provides seneral benefits to the entrepreneurs. First, it offers factory accommodation at a low cast. They do not have to make huge capital investment and need not incur cost of survey or finding a suitable location of the plant. Secondly, all service and facilities, e.g., banking transport, warehousing, insurance, are easily available to all the units at subsidized rates. Thirdly, all the member units enjoy the external economies, protection and assistance from public authorities and the government. Capital investment and risks of entrepreneurs are considerably reduced due to the provision of large variety of service and infrastructure by the sponsoring authorities. Lastly, an industrial estate offers social advantage. It help in the planned development of all regions, in promoting spirit of cooperation and joint effort, in generating employment on a large scale and in removing poverty and in improving the standard of living of the people.

http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

#ca_in_patna      

Flexcibility

Small industries are subject to wide variations in demand, e.g., manufacture of jewellery, fashion garments, etc. In such cases, greater flexibility of operations is required. Small firm are more flexible due to simple technology and low overheads. They are capable of being adapted to changing tasted and fashions. They can easily make changes in products and can shift to new lines of business whenever the need arises. Therefore, small firms are more suited in the production and distribution of special items having temporary demand. New techniques can be adopted without causing technological unemployment.



http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

Employment

Small scale firms use labour-intensive techniques and, therefore, they have high potential to provide employment to a larger number of people per unit of capital. For every worker employed in large scale industries, about three workers are engaged in small scale and cottage industries. Next to agriculture, small business constitutes the most popular occupation of people in India. small firms promote self-employment particularly among the educated and professional class. They also provide employment to agriculture who remain idle during a part of the year. In fact, the healthy growth of small scale industries can effective approach to the pressing problem of unemployment in the country. Several empirical studies have revealed that the employment generating capacity of small scale industries is about ten time more than that of the large scale industries.




http://caindwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka   
#ca_in_patna

chartered accountant in dwarka

A business enterprise is subject to direct and indirect taxes of several types. Taxes influence the location, size and form of ownership of business as well as the type of securities issued to rise finance. The promoter must visualize in advance the various taxes which the enterprise will have to pay. through proper planning, the tax burden on the enterprise can be reduced and maximum benefits can be taken of tax incentives. Income tax and wealth-tax are the most important among the various types of taxes payable by a business enterprise.


http://caindwarka.com

#chartered_accountant_in_dwarka

#ca_in_dwarka

#ca_firm_in_dwarka

#ca_in_patna

CA firm in dwarka

After selecting machinery and equipment, it is necessary to arrange the in an efficient manner. Arrangement of physical facilities in the plant is known as plant layout. Good layout is essential for efficient and economical operations. An efficient layout helps to reduce the costs of material handling, inventory, space, etc. The layout should be such that it results in the optimum utilization of machines, equipment, work force and space. Machinery and equipment should be placed in a proper sequence so as to permit a smooth flow of material through the necessary operations and in the most divert way possible. The layout should be flexible enough to adapt itself to changing conditions of business. Back-handling of material and other bottlenecks and delays in production process must be kept to minimum. The type or pattern of plant layout depends upon the nature of production system, space available, volume of output, types of equipment, etc



http://caindwarka

#ca_firm_in_dwarka
#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

#ca_in_patna

Selection of line of Business

The first procedural decision involved in setting up of a new enterprise is to select the nature and type of business. The entrepreneur has to decide the type of business in terms of industrial, trading or service. Then he has to select the types of goods and service ha will produce or distribute. He has to consider several factors, e.g., nature and source of raw material, type of technology to be used, source of supply, distribute policy, etc. After deciding the nature of business activity, the promoter has to analyses and forecast the profitability of the proposed business on the basis of probable operating costs imply cost of procuring different inputs while sales revenue depends upon the size of the market, probable market share of the proposed undertaking, expected growth of total market, sales estimate these factor. Marketing research may be carried out to product analysis is made to determine the design, quality and style of the product to be manufactured. Decisions regarding product design, pricing policy, distribution channel and publicity should be made from the view point of propspective customers.


http://cadwarka.com

#ca_in_dwarka

#chartered_accountant_in_dwarka

#ca_firm_in_dwarka

#ca_in_patna 

Meaning of Promotion

Promotion refers to those activities which are undertaken to bring a business enterprise into extistence. It is a business term which denotes a number of business operations familiar to the business world by which a company is generally brought into existence. It is the process of exploration, investigation, planning and organisation of necessary resources with the objective of setting up a new business opportunities, and the subsequent organisation of funds, properties and managerial ability into a business concern for the purpose of making profits therefrom." The process of promotion beings with conception of an idea from which the business is to be evolved an ends with the translation of the idea into a business as a going concern. Persons who perform the ask of promotion are known as promoter or entrepreneurs. A promoter conceived of the idea of a business enterprise, analyses its prospects, work out a tentative scheme of organisation, bring together the necessary resources of money, materials, machinery, people and managerial ability, and floats an enterprise.


http://caindwarka.com/

#ca_in_dwarka

#ca_in_patna     

Dissolution of Firm

A distinction should be made between the 'dissolution of partnership' and 'dissolution of firm'. Dissolution of partnership implies the termination of the original partnership agreement or change in contractual relationship among partner. A partnership is dissolved by the insolvency, retirement, incapacity, death, expulsion, etc., of a partner or no the expiry/ completion of th tern/ venture of partnership. A partnership can be dissolved without dissolved the firm. In dissolution of partnership, the business of the by entering into a new agreement. On the other hand, dissolution of firm implies dissolution between all the partner. The business of the partnership firm comes to an end. Its assents are realized and the creditors are paid off. Thus, dissolution of firm always involves dissolution of partnership but the dissolution of partnership does not necessarily mean dissolution of the firm.


http://caindwarka.com/

#ca_in_dwarka

#ca_in_patna 

Location of Business

The location of a business firm is an important decision as it influences the costs, profitability and growth of the enterprise. Moreover, once the site is selected, it is very difficult to change it. An unfavourable location may restrict the growth of the firm in addition to higher costs. The objective of location is a three-stage process as it involves not the selection of the region, but choice of locality and selection of the site. Region is selected on the basis of access to raw materials and markets, availability of labour, transportation, and banking facilities. Choice of locality or community is governed by local attitudes, managerial preferences, public facilities, climate, availability of site, financial inducements, etc. Selection of the site depends on cost of lnd, soil and surface, development costs, etc.

http://caindwarka.com/

#ca_in_dwarka