Definition: Partnership is a model of business in which pair of individuals unite their hands to distribute profits of a business incorporated by them based on agreement. The Indian Partnership Act,1932 regulate evolution and administration of partnership firms. As the business extends, one requires more fund and more persons to regulate the business and spilt its risks. In … [Read more...] about Partnership
Marketing Vs Selling
Various managers use marketing and selling as analogues; however, there is a considerable distinction between marketing and selling. Both create precise adjustments to the business; thus, the manager is anticipated to follow a various distinctive class of strategies for the success of their business. Selling has a product target and is often manufacturer driven. It is the … [Read more...] about Marketing Vs Selling
Auditing
Definition: Auditing is the procedure by which proficient liberated person accumulate and examine the evidence to form an assessment and convey their point of view to the individual concerned with their audit report. The term “Audit” is borrowed from the Latin word “Audire”, i.e. to hear. In ancient times when the person who has possession of business suspected fraud, they … [Read more...] about Auditing
Consumer Behaviour
Definition: Consumer Behaviour is the analysis of the measures involved when a person or groups choose, procure, and utilize goods, services, designs approaches to fascinate consumer wants and hopes. It involves procedure by which consumers acknowledge their utilization issue, seeks for information, classify options feasible in the market, build a conclusion and select a … [Read more...] about Consumer Behaviour
Indexation
Definition: Indexation is the inevitable link between monetary constraints and price level. It diminishes the cost of inflation and implements on interest and taxes and wages. For example, Employers are compelled to index wages across prices so that the divergence among money income and real income can be reduced. The interest of long-term loans is so driven that the debtors … [Read more...] about Indexation
Intangible Assets
Definition: As stated in the Accounting Standard (AS) 26 “Intangible Assets” published by the Institute of Chartered Accountants of India (ICAI). It is an attributable non-monetary asset beyond physical affluence, retained for use in the manufacturing or production of goods and services for renting to others or for supervisory purposes. An asset is a reserve transpired by … [Read more...] about Intangible Assets
Training
Definition: Training usually has been introduced to as teaching specific skills and conducts and is a critical strategic tool. For the endurance of the company, it is necessary that the individual must flourish and develop through training. It is a significant sub-system of human resource management and is a specific developmental function of the company. Various managers … [Read more...] about Training
Management Vs Administration
A debate arises between the two associated terms, Management and Administration. According to various management writers, both of them are identical and can be used conversely; the divergence exists in their use regarding distinct areas of human activities. Yet few authors don’t comply with this conclusion. In the initial stage of management evolution, both the management … [Read more...] about Management Vs Administration
Marketing Environment
Definition: An organization’s Marketing Environment subsist the factors and forces, farther marketing that influences marketing management skill to develop and retain favourable transactions with its recognized customers. The Marketing Environment consists of the internal environment, micro-environment and macro-environment. Content: Marketing Environment Factors of … [Read more...] about Marketing Environment
Cash Flow Statement
Definition: The Cash Flow Statement serves the shift of the cash by the company, i.e., accepting cash on the one side and making payments by cash on the other side. Its ambition is to determine the difference between the cash-in-hand the company has at the beginning and at the end of the year. A specified protocol of divergent stock exchanges demands corporate entities to … [Read more...] about Cash Flow Statement