Tuesday, October 18, 2011
interview video
richa patial mba 1st sememester , roll no. 113 http://www.youtube.com/watch?v=9S339SFzATQ
NISHANT SINGH - MBA - (B) (205)
INDERJEET KAUR - MCA - 5
LINK: http://www.youtube.com/watch?v=vht_qsn5-gy
INDERJEET KAUR - MCA - 5
LINK: http://www.youtube.com/watch?v=vht_qsn5-gy
MB-76 Manpreet Ghuman- MBA 1st - Milan - 195- mba 2nd year- Sec (B)
http://www.youtube.com/watch?v=S2HLsApHM4w
Cost accounting
1) Introduction:
Cost accounting can be defined as “the establishment of budgets, standards costs and actual costs of operation, processes , activities or products and the analysis of variances , profitability or the social use of funds”.
The evolution of cost accounting took place because of industrial development and limitation of financial accounting does not serve various needs of buiosness thus to fill up the gap cost accounting was evolved .Cost accounting ascertains products cost leading to cost control and cost reduction.
2) cost, cost accounting and cost accounting Accountancy(relationship):
Process of ascertain the cost= costing
Process ascertaining cost+ cost control methods and ascertainment of profitability= cost accounting
Process of ascertaining cost+ cost control methods and ascertainment of profitability+ presentation of relevant information for managerial decision making= cost accounting
3) objective of cost accounting:
· The primary objective of cost accounting is to ascertain and analysis cost.
· Various technique are used like standard costing and budgetary control for controlling cost.
· For cost reduction plan and methods are continuously reviewed in order to reduce cost.
· Reliable data is provided to act as base for fixing selling prices.
· In cost accounting periodic statement for review of operating results are prepared.
· It provides useful information for planning and control.
4) Elements of cost:
1) Material =direct expense + indirect expense
2) Labour= direct expense +indirect expense
3) Others expenses= direct expense+ indirect expense
4) Overheads=indirect material expenses+ indirect labour expense + indirect other expense.
Overheads:
Production overheads
Office and admin overheads
Selling overhead
Distribution overhead
Method of costing :
1) Specialized production:
· Batch costing
· Job costing
· Contract costing
2)Standardized production:
· Single costing
· Process costing
· Joint and by product costing
3) Techniques /types of costing:
· Historical costing:
costs are determined after they have incurred .
· Standard costing
standard costing is prepared and used and then accompanied with actual cost to determine the extent of variance .
· Absorption costing :
all cost , fixed and variable are charged to product ,jobs etc
· Uniform costing :
It is not a technique but the organization use similar costing principles.
· Marginal/variable costing=
charge variable cost to cost unit and fixed costs are written of in full against the aggregate contribution .
4) Essential of an ideal costing system:
· It should be simple and easy to operate.
· The data should be accurate.
· It should be cost effective
· Management should have faith in costing system
· The data should be relevant
· There should be participation by the executive
To overcome the practical difficulties faced in the installation of a costing system following system are suggested:
· Support from top management.
· Utility of system to existing staff
· Worker’s confidence for cooperation
· Training to the staff.
· Proper supervision
Thus the cost accounting is the collection and analysis of relevant cost data for interpretation and presentation for various problem of management.
Ravinder singh mba 1st( b)..Ashwani mca 5th roll no.94512131492
link
http://www.youtube.com/watch?v=3JdZ5VzKV3I
Saumya Rastogi MBA Ist B 117 ..Archana Verma MCA 5 sem..
Link:
http://www.youtube.com/watch?v=bYlR-b6r3sY
http://www.youtube.com/watch?v=bYlR-b6r3sY
interview
Interview of : Ankit Puri
MBA 3
Submitted To : Gurdeepak Singh
Submitted By : Ankur Bhalla
MBA 1
Roll No-MB 65
MBA 1
Roll No-MB 65
Neha Sharma, MBA(I) - B , 85 ... Ms. Gurpal, MCA-5th Sem
Link:
http://www.youtube.com/watch?v=U3Va1kYPVv8
http://www.youtube.com/watch?v=U3Va1kYPVv8
interviewer:Pooja (103) Mba 1-B
http://www.youtube.com/watch?v=O52IiwoPBHQ
(pooja-mba 1 -103-shilpa-mca 3)
(pooja-mba 1 -103-shilpa-mca 3)
Taking interview of senior
Seema Arora
MBA 01 B
Roll No 185
MBA 01 B
Roll No 185
http://www.youtube.com/watch?v=zhYQ9VOfA-Q
SERENDIPITY --- SALES AND PRODUCTION BUDGET -- 8 ANISHA GOHAIN ( A ) , 8 HARJEET KAUR (B), 135 KHUSHDEEP SINGH (C)
SALES AND PRODUCTION BUDGET
INTRODUCTION
Budget is a monetary plan in which income to be generated and expenditure to be incurred are prepared and are approved prior to the given period of time.
SALES BUDGET:- This budget is very important because all other budgets are build up. It is a forecast of quantities and values of sales to be achieved in a budget period .
The sales manager is responsible for the accuracy of the budget.
PRODUCTION BUDGET:- After preparing sales budget the next budget will be production budget. In this budget , the works manager prepare schedule of production by breaking large production in small units to fulfill the target production.
BY:- ANISHA GOHAIN SEC A
DISCUSSION
In the Sales budget in charge or expert forecast the future expected sales of the firm. The sales budgets may prepare on basis of product, type of customers, salesman, locality etc.
For the preparation of sales budget the following things should be taken care of :-
Past sales & trends, salesman estimates, plant capacity, availiability of raw material &other supplies, orders in hand, seasonal fluctuations, competition ,financial aspect, general trade prospects, adequate return on capital employed, miscellaneous consideration.
A properly operated production budgets leads to inventory control, improved maintenance of production schedules and production targets.
PRODUCTION BUDGET may be expressed in quantitative (weights , units etc)or financial (rupees)units or both.
This budget is prepared after taking into consideration the estimated OPENING STOCK, ESTIMATED SALES AND the DESIRED FINISHED STOCK of each product.
Planning the level of production helps in deciding the
What is to be produced?
When it is to be produced?
How it is to be produced?
Where is to be produced?
The works manager is responsible for the total production budget and the departmental managers are responsible for the departmental production budget
FORMAT OF SALES AND PRODUCTION BUDGET
SALES BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
UNITS
SALE PRICE/UNIT
TOTAL
SALE
PRODUCTION BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
BUDGETED
UNIT SALES
DESIRED
ENDING
INVENTORY
TOTAL UNITS NEEDED
Less: BEG.
INVENTORY
UNITS TO PRODUCED
BY:- HARJEET KAUR SEC B
CONCLUSION
The sales budget will help determine how many units will have to be produced. Thus, the production budget is prepared after the sales budget.
The SALES AND THE PRODUCTION BUDGET ARE INTER –DEPENDENT because production budget is governed by the sales budget & the sales budget is largely determined by the production capacity & by production cost.
BY:- KHUSHDEEP SINGH SEC C
INTRODUCTION
Budget is a monetary plan in which income to be generated and expenditure to be incurred are prepared and are approved prior to the given period of time.
SALES BUDGET:- This budget is very important because all other budgets are build up. It is a forecast of quantities and values of sales to be achieved in a budget period .
The sales manager is responsible for the accuracy of the budget.
PRODUCTION BUDGET:- After preparing sales budget the next budget will be production budget. In this budget , the works manager prepare schedule of production by breaking large production in small units to fulfill the target production.
BY:- ANISHA GOHAIN SEC A
DISCUSSION
In the Sales budget in charge or expert forecast the future expected sales of the firm. The sales budgets may prepare on basis of product, type of customers, salesman, locality etc.
For the preparation of sales budget the following things should be taken care of :-
Past sales & trends, salesman estimates, plant capacity, availiability of raw material &other supplies, orders in hand, seasonal fluctuations, competition ,financial aspect, general trade prospects, adequate return on capital employed, miscellaneous consideration.
A properly operated production budgets leads to inventory control, improved maintenance of production schedules and production targets.
PRODUCTION BUDGET may be expressed in quantitative (weights , units etc)or financial (rupees)units or both.
This budget is prepared after taking into consideration the estimated OPENING STOCK, ESTIMATED SALES AND the DESIRED FINISHED STOCK of each product.
Planning the level of production helps in deciding the
What is to be produced?
When it is to be produced?
How it is to be produced?
Where is to be produced?
The works manager is responsible for the total production budget and the departmental managers are responsible for the departmental production budget
FORMAT OF SALES AND PRODUCTION BUDGET
SALES BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
UNITS
SALE PRICE/UNIT
TOTAL
SALE
PRODUCTION BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
BUDGETED
UNIT SALES
DESIRED
ENDING
INVENTORY
TOTAL UNITS NEEDED
Less: BEG.
INVENTORY
UNITS TO PRODUCED
BY:- HARJEET KAUR SEC B
CONCLUSION
The sales budget will help determine how many units will have to be produced. Thus, the production budget is prepared after the sales budget.
The SALES AND THE PRODUCTION BUDGET ARE INTER –DEPENDENT because production budget is governed by the sales budget & the sales budget is largely determined by the production capacity & by production cost.
BY:- KHUSHDEEP SINGH SEC C
SOURCES OF FINANCE
Future Billionaires
125-Vishu Gupta(B)
165-Ramandeep Kaur(C)
INTRODUCTION TO FINANCE (125) (VISHU GUPTA)
Finance is the study of funds and management. Its general areas are business finance, personal finance, and public finance. It also deals with the concepts of time, money, risk, and the interrelation between the given factors.
The subject of finance has been traditionally classified into two classes:
(i) Public finance
(ii) Private finance
DEFINITIONS OF FINANCE
“Business finance deals primarily with raising, administering and disburing funds by privately owned business units, operating in non-financial fields of industry”
By: Prather and Wert
DISCUSSION (165)(RAMANDEEP KAUR)(FATHER NAME-JASWINDER SINGH)
SOURCES OF FINANCE
Preference shares
Preference shares have a fixed percentage dividend before any dividend is paid to the ordinary shareholders. As with ordinary shares a preference dividend can only be paid if sufficient distributable profits are available, although with 'cumulative' preference shares the right to an unpaid dividend is carried forward to later years.
Retained earnings
For any company, the amount of earnings retained within the business has a direct impact on the amount of dividends.
Bank lending
Borrowings from banks are an important source of finance to companies. Bank lending is still mainly short term, although medium-term lending is quite common these days.
Short term lending may be in the form of:
a) an overdraft, which a company should keep within a limit set by the bank. Interest is charged (at a variable rate) on the amount by which the company is overdrawn from day to day;
b) a short-term loan, for up to three years.
Venture capital
Venture capital is money put into an enterprise which may all be lost if the enterprise fails. A businessman starting up a new business will invest venture capital of his own, but he will probably need extra funding from a source other than his own pocket.
ADVANTAGES & DISADVANTAGES OF DIFFERENT SOURCES OF FINANCE
Benefits
Some sources of finance offer special benefits. Internal sources of finance keep control within the company and don't subject you to interest payments on loans. Finally, no ownership capital is a vote of confidence from the investor or agency that issues a loan or grant. Grants are especially valuable because they don't require repayment, and might be available on a recurring basis.
Drawbacks
Each source of finance also has its own limitations. Ownership capital makes you responsible to a group of shareholders who have partial ownership rights. Loans cost interest, which the lender will demand back on schedule whether you've turned a profit or not.
Effects
The methods you use to secure finance for your business can directly affect how your business grows and operates.
CONCLUSION
Modling and computation of dynamic optimization problems in finance is an important area for research in financial modeling.The thrust of this research has been to develop computational methods in order to solve financial optimal control models which are difficult to solve by traditional analysis using optimal control theories.Hence we conclude that there are so many things in the finance that are not easy to understand and so many computational methods..
Interviewer: Purnima Mehta(108)MBA-IB interviewee :Vikrant Saklani MBA 3rd
http://www.youtube.com/watch?v=35tSSJ6SWtw&feature=feedu
REDUCE THE RISK OF INSOLVENCY
Introduction:
Reduce the risk of insolvency:
A business is insolvent if it doesn't have sufficient assets to cover its debts, or it is unable to pay its debts as and when they are due.If you monitor your business' actual performance against your budget and the cash flow forecast regularly, this will give you an early warning of potential problems. You can then take action to avoid insolvency.
This guide provides information on how to reduce the risk of insolvency by suggesting actions to take and sources of advice. It also describes possible outcomes of insolvency for different types of business.
Implication for different business structures:
Every business needs a ‘structure’, which really means the type of legal structure the business operates under so everyone knows what type of business you are. There are three main types.
- If you roll out of bed and decide suddenly ‘I want to be my own boss’ then you automatically become a ‘sole trader’. You don’t have to do anything else.
- If you want to partner up with someone else then you could form a ‘partnership’, ideally with an agreement but not always.
- If you want to separate the business from your personal life, then you may want to form a company, where you need to register and go through a process before this can happen. 140- MANISHA
DISCUSSION
The consequences of different businesses.
1. Cash Flow- Cash flow is a major challenge for many small companies – even when things appear to be going well. Cash flow problems can lead to insolvency. To keep cash flowing consider the following points-
· Invoices promptly-also try to negotiate regular payments from long term contractors.
· Plan stock reduction- if cash flow problems are serious; cut the amount of cash tied up in stock.
· Factoring – sell outstanding invoices to a third party, known as factors. Factors pay some of the debt off in advance of collection.
2. Talk to your creditors, negotiate and compromise
DO not ignore creditors- ever! If they are owed more than 750 euro any creditor or group of creditors can ask a court to wind up your business. Answer letters and phone calls promptly and discuss problems with payments.
75-MANISH GARG
.
Conclusion:
Provisions in the Guideline are probably insufficient to prevent liquidity and credit risks arising from interoperability.The best business structures are those that are as flexible as possible. A new business that is likely to make losses in the first few years could start as a partnership or sole-trader to make the best use of those losses. There may be commercial pressures to operate as a limited company in certain sectors. It is important to have a firm understanding of the various business types and government regulations prior to starting a business. For more advice on selecting a business organization, you should consult with a lawyer.
140-MANISHA
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