KPSC Prelims and Mains Notes, KPSC Test Series
INTERNAL CONTROL 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 … Read more INTERNAL CONTROL
PARTNERSHIP Partnership : Partnership is an association of two or more parties, they put money for business. Simple Partnership: Simple partnership is one in which the capitals of the partners are invested for the same time. The profit or losses are divided among the partners in the ratio … Read more Partnership
FUNCTIONS OF MANAGEMENT- DIRECTION (Communication,Supervision,Motivation,Leadership) Directing is concerned with instructing, guiding, supervising and inspiring people in the organisation to achieve its objectives. It is the process of telling people what to do and seeing that they do it in the best possible manner. Elements in Directing: The four essential … Read more FUNCTIONS OF MANAGEMENT Direction
SOURCE OF FINANCE Sources of finance are the most explored area especially for the entrepreneurs about to start a new business. It is perhaps the toughest part of all the efforts. There are various sources of finance classified based on time period, ownership and control, and source of generation of finance. … Read more SOURCE OF FINANCE
DETERMINANTS OF PERSONALITY Personality is a result of the combination of four factors – Physical environment Heridity Culture Particular experiences. Personality and Environment: Geographical environment sometimes determines cultural variability. That the Eskimos have a culture different … Read more DETERMINANTS OF PERSONALITY
PERFORMANCE AUDIT Meaning An independent examination of the efficiency and effectiveness of government undertakings, programs or organisations, with due regard to economy, and the aim of leading to improvements”. Performance audit is simply an audit of sound financial management, namely of the economy, efficiency and effectiveness with which audited … Read more PERFORMANCE & EFFICIENCY AUDITING
SOCIAL ACCOUNTING Social accounting can be defined as a set of organisational activities that deals with the measurement and analysis of the social performance of organisations and the reporting of results to concerned groups, both within and outside the organisation. Social accounting, also known as national income accounting, is a method … Read more Social Accounting
WORKING CAPITAL Meaning of Working Capital Every business needs funds for two purposes for its establishment and to carry out its day-to-day operations. Capital required for a business can be classified under two main categories viz. (i) Fixed capital (ii) Working capital. Long-term funds are required to create production facilities through … Read more Working Capital
MANAGEMENT Management is a process of designing and maintaining an environment in which individuals, working together in groups, accomplish selected aims. In other words,” It is the accomplishment of Goals through others.” Management has been used in different senses. Sometimes it refers to the process of planning, organizing, staffing, directing, coordinating … Read more Management Intro
FUNCTIONS OF MANAGEMENT – ORGANIZING Organizing is the process of identification and grouping of activities, assigning duties and delegating authority to the managers, allocating necessary resources and establishing coordination among individuals and department of an organization with a view to attain its objectives. PROCESS OF ORGANIZING : The process of … Read more Functions Of Management.Organizing (1)