Marginal Cost Equation: Sales – Variable Cost = Contribution alternatively, Sales = Contribution + Variable Cost So, Sales = Variable cost + Fixed cost ± Profit So, Sales – Variable Cost = Fixed Cost ± Profit. also, S – V=F ± P.
Write the Definition of Financial Management.
Definition of Financial Management: Financial management is that part of management concerned with the raising of finance necessary for the business and with the implementation of financial policies and practices. Finance is the lifeblood of the business. The plans of a businessman would remain in a dream unless adequate money is available for their actual…
What is the Marginal Costing and Cost Volume Profit Analysis?
Marginal Costing and Cost Volume Profit Analysis Marginal Costing By distinguishing between fixed costs and variable costs, the marginal costing technique can be used to determine marginal costs as well as the impact of changes in output volume and type on profit. Assumption of Marginal Costing Advantages of Marginal Costing Limitations or Disadvantages of Marginal…
Discuss Nature of the Financial Management.
Nature of the Financial Management: Following are the nature of Financial Management. a) Easy Raising of Finance: Before procuring the necessary finance from various sources, a proper estimation is to be fixed as how much will be the number of cash flows of the organization for a specific period. The cash flow has two aspects,…
Write short notes on Performance appraisal.
Ans: Performance evaluations are “a process and a system for determining the suitability of employees for other jobs, particularly of higher responsibility in an organization,” according to one definition of Performance Appraisals. Uses / Purposes of Performance Appraisals
Write short notes on Perception.
Ans: The process through which a person chooses, arranges, and interprets stimuli to create a meaningful image of the environment in which he lives is known as Perception. It is a complex process and differs from one individual to another depending on the needs, values and expectations of the individual. The perception of two individuals…
Give a brief note on Leadership styles.
Ans: Refer to topics ‘Leadership Definition’, ‘Trait Theory’, ‘Behavioral Theories’, ‘Ohio State Studies’, and ‘Managerial Grid Theory’ of Unit at a glance. Contingency Theory of Leadership: Regarding this theory, Fiedler (1967) states that a leader may become effective if the situation is favorable in three ways. These include strong member-leader relationships, a task’s specifics being…
Explain the Theory of the Hierarchy of Needs with the aid of the necessary diagram.
Ans: The Needs of Abraham II. Maslow A dysfunctional or hierarchical theory of motivation The behavioural psychologists A.H. Maslow and Frederick Herzberg, whose published writings are known as the Bible of Motivation, have supplied the philosophical underpinnings for the majority of motivational thought. Although Maslow himself did not apply his theory to industrial situations, it…
What traits should a good leader have? What are the different leadership styles?
Ans: 1st Part: Qualities of a Good Leader: Utilize all of your organization’s potential – By fostering a sense of unity, you will be able to utilize all of your organization’s potential, including that of its departments, sections, etc. 2nd Part: Leadership styles are as follows:
Distinguish between recruitment & selection.
Ans: Recruitment means a positive process of searching for better candidates for matching the actual or anticipated personnel requirements of the organization. Mcfarland defines recruitment as a process of attracting prospective employees to the company. In contrast, Dale Yoder claims that “Selection is the stage in the staffing process where candidates for employment are divided…