RESPONSIBILITY & SOCIAL ACCOUNTING

RESPONSIBILITY   ACCOUNTING Responsibility accounting is a management control system based on the principles of delegating and locating responsibility. The authority is delegated on responsibility centre and accounting for the responsibility centre. Responsibility accounting is a system under which managers are given decisions making authority and responsibility for each activity occurring within a specific area of … Read more

Meaning & Objectives of Auditing

AUDITING Auditing is the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step. Meaning of Auditing: Auditing is an examination of the books of accounts and … Read more

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 a business practice, policy or … Read more

Social, Performance and Efficiency Audit

SOCIAL AUDIT “Social auditing is defined as a systematic attempt to identify, analyse, measure (if possible), evaluate, and monitor the effect of an organisation’s operations on society (that is, specific social groups) and on the public well-being.” Social audit as a term was used as far back as the 1950s. In a nutshell, it refers … Read more

Basics of different types of Budgeting, Budgetary control

Basics of different types of Budgeting, Budgetary control Table of Content:- Budgeting- Different types of Budgeting Budgetary Control Responsibility Accounting Social Accounting Different types of Deficits- Budgetary Fiscal Revenue Deficit   Budgeting Budgeting is the process of estimating the availability of resources and then allocating them to various activities of an organization according to a … Read more

FUNCTIONS OF MANAGEMENT – STAFFING    

  Staffing refers to the managerial function of employing and developing human resources for carrying out the various managerial and non-managerial activities in an organisation. This involves determining the manpower requirement, and the methods of recruiting, selecting, training and developing the people for various positions created in the organisation.   Staffing function is an integral … Read more

Varna System

The caste system is a classification of people into four hierarchically ranked castes called varnas. They are classified according to occupation and determine access to wealth, power, and privilege. The Brahmans, usually priests and scholars, are at the top. Next are the Kshatriyas, or political rulers and soldiers. They are followed by the Vaishyas, or … Read more

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HPSC Prelims Test Series 2020

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