RESPONSIBILITY ACCOUNTING Meaning Responsibility accounting is a system of dividing an organization into similar units, each of which is to be assigned particular responsibilities. Responsibility accounting is a management control system based on the principles of delegating and locating responsibility. Responsibility accounting is a system under which managers are given decisions making authority and responsibility for each activity occurring within a specific area of the company. Under this system, managers are made responsible for the activities of segments. These segments may be called departments, branches or divisions etc. Among the control techniques “responsibility accounting” has assumed considerable significance. While the other control devices are applicable to the organization as a whole, responsibility accounting represents a method of measuring the performance of various divisions of an organization. Definition According to Charles T. Horongrent, ...
A role model is a person whose example, behaviour, achievements, success stories can be emulated by other individuals especially young people. A role model is someone from whom other individual gets inspiration and aspires to be like them. One of the most important characteristics of an ideal role model is never to give up hope and hard work in the face of oddities. Life is ready to throw challenges at different stages but a true winner is the one who does not get vulnerable to the unfavorable situation and keeps on finding ways to beat the challenge and fight right up to success. Dr.APJ Abdul Kalam has encouraged many young blood of India to dream big and achieve those. He belongs to a poor family yet with his hard work and self belief, became the 11th President of India. He did not have anyone to support him at childhood as his father’s income was not as per needs. Kalam, at a very early age had to start working to support his father financially by selling newspapers at Rameswaram ...
Wages and salary administration is an integral part of the management of the organization. Wages and salary is a systematic approach to providing monetary value to employees in exchange for work performed. Among the four most important Ms, Men play a dominant role. The only way by which men can be gained, retained and satisfied is through wages and salaries. This study is made to know how the employees are graded and how they are paid wage and salaries. Wage and salary administration refers to the establishment and implementation of sound policies and practices of employee compensation. It is essentially the application of a systematic approach to the problem of ensuring that the employees are paid in a logical, equitable and fair manner. Wage and salary administration includes areas such as job evaluation, development and maintenance of wage structure, wage payments, incentives, profit sharing, wage changes and related items. It may achieve several purposes...
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