...required examinations may become CPA’s. 2. Specialized accounting fields/ branches There are several specialized fields in accounting. The two most common are financial accounting and managerial accounting ( this is based on user’s point of view). Other fields include:- Cost accounting, Environmental accounting, Tax accounting, Social accounting, etc. 3. Management Accounting – Management accounting is concerned with the provision of appropriate financial information to people within the organization (management and employees) to help them make better decisions. – It involves professional knowledge and skills in the preparation, presentation and interpretation of information required by management at all levels of the organizational structure. ← In other words, Management Accounting is concerned with data gathering (from both internal and external sources), analyzing, processing, interpreting and communicating the resulting information for use within the organization so that management can more effectively plan, make decisions and control operations. – Management information includes both historical and estimated data which is used by management in conducting daily operations, planning future operations, and developing overall business strategies. NB: The characteristics...
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...component in the developmental process of any organization. In the field of human resource management, training and development is the field which is concerned with organizational activity aimed at bettering the performance of individuals and groups in an organizational environment. Human resource training is of growing importance to companies seeking to gain an advantage among competitors. Training has an effect on both the employee and organizational goals. Forces at various levels influence changes in human resources strategies and directions. Those with the most direct effect include changes in the nature of the organization’s mission, work and overall policy direction. Other forces are internal to the organization itself (its culture, work organization and management style), while still others originate outside the organization and are related to the global economy and other changes in society. Training and development helps an organization to equip each employee with the knowledge and skill needed to perform his/her job effectively. This project will evaluate the effectiveness of the training and development programs offered by the HRtrainingCenter.com. A HRM company which provides training and certification services Marketing Environmental Forces That Affect Human Resource Management Industry Introduction As with any market there are external environmental forces that directly and/or indirectly impact an organization. Changes in the environment can create opportunities...
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...Change Management Plan Life in the 21st century is all about change. People face change in some fashion in their personal and professional lives almost on a daily basis. How successful they are in both our personal and professional lives depend a great deal on how easily they can adapt to these changes. Organizations are also susceptible to frequent and oftentimes rapid changes. CrysTel, a telecommunications company, is just such an organization. CrysTel faces both technological and administrative changes regularly due to the telecommunication industry’s rapid and frequent advances. CrysTel employs 2,500 employees and offer products such as data cables, wireless solutions, and network development. (Apollo Group Inc, 2004) Successfully leading and sustaining change within this organization will require a great deal of planning and hard work from all levels of management and leadership. The term “survival of the fittest” (Apollo Group Inc, 2004) is aptly applied to the change process for organizations. Much like in ones personal life, those who are most fit or in this case the most adapt at leading and sustaining change will be the most likely to survive the necessary changes and emerge a stronger more successful organization. CrysTel has taken the first of many important steps required in being able to lead successfully and sustain change within their organization. CrysTel recognized the need for change created by external forces such as the technological advancements of their...
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...Introduction The human resources of an organization consist of all people who perform its activities. Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job. What is the focus of HRM department? “The HRM focus should always be maintaining and, ideally, expanding the customer base while maintaining, and ideally, maximizing profit. HRM has a whole lot to do with this focus regardless of the size of the business, or the products or services you are trying to sell.”...
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...Change Management Plan Life in the 21st century is all about change. People face change in some fashion in their personal and professional lives almost on a daily basis. How successful they are in both our personal and professional lives depend a great deal on how easily they can adapt to these changes. Organizations are also susceptible to frequent and oftentimes rapid changes. CrysTel, a telecommunications company, is just such an organization. CrysTel faces both technological and administrative changes regularly due to the telecommunication industry’s rapid and frequent advances. CrysTel employs 2,500 employees and offer products such as data cables, wireless solutions, and network development. (Apollo Group Inc, 2004) Successfully leading and sustaining change within this organization will require a great deal of planning and hard work from all levels of management and leadership. The term “survival of the fittest” (Apollo Group Inc, 2004) is aptly applied to the change process for organizations. Much like in ones personal life, those who are most fit or in this case the most adapt at leading and sustaining change will be the most likely to survive the necessary changes and emerge a stronger more successful organization. CrysTel has taken the first of many important steps required in being able to lead successfully and sustain change within their organization. CrysTel recognized the need for change created by external forces such as the technological advancements of their...
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...How does change affect people at work? What are some of the current forces for change in the workplace? What are the implications for HR managers? Introduction Organizational changes do not appear from themselves. For any process of performing something, there is a reason, and the process is the result of that reasons. Increasing globalization, rapid technological advancement, changing economic conditions and organization’s financial performance are some of the current forces that cause change in organizations. Current forces for change in the workplace 1. Globalization Globalization on one hand creates more opportunities as there are more potential customers around the world. However, it also means there will be fierce competition, as local companies have to compete with foreign companies as well. In terms of the organization’s structure and the human capitals, globalization intensified the need for more responsive and flexible organizations and employees. Globalization has also led to diversification of the labour poll. Companies can locate or relocate to where the tax laws are most advantageous and where skilled, cost-effective labor is most readily available. Workloads can be spread over several time zones to cut production costs and facilitate delivery schedules. Many organizations started to offshore or exporting jobs from developed to undeveloped countries for the reason of lowering the labor costs and exploiting new opportunities (Babcock 2004). According...
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...study of job requirements & those factors that influence the performance of those job requirements a. Job analysis b. Job rotation c. Job circulation d. Job description 3. This Act provides an assistance for minimum statutory wages for scheduled employment a. Payment of Wages Act, 1936 b. Minimum Wages Act, 1948 c. Factories Act, 1948 d. Payment of Gratuity act, 1972 4. __________ is the actual posting of an employee to a specific job a. Induction b. Placement c. Attrition d. None 5. Broadening an individual’s knowledge, skills & abilities for future responsibilities is known as a. Training b. Development c. Education d. Mentoring 6. Change that is designed and implemented in an orderly and timely fashion in anticipation of future events a. Planned change b. Technology change c. Structural change d. None 7. It is a process for setting goals and monitoring progress towards achieving those goals a. Performance appraisal b. Performance gap c. Performance factor d. Performance management system 8. A method which requires the rates to provide a subjective performance evaluation along a scale from low to high a. Assessment centre b. Checklist c. Rating scale d. Monitoring 9. It is the sum of knowledge, skills, attitudes, commitment, values and the liking of the people in an organization a. Human resources b. Personal management c....
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...Dr. Nisha Agarwal Abstract This paper analysis the various challenges which are emerging in the field of HRM.The managers today face a whole new array of changes like globalization, technological advances and changes in political and legal environment. changes in Information technology. This has lead to a paradigm shift in the of roles professional personnel. The great challenge of HRM is to attract, retain and nurture talented employees. This paper also analysis how to overcome with these challenges. These challenges can overcome through cross cultural training, technological and informational training of HR people and motivation of employees through various techniques Objective of paper To study the details of emerging challenges To find out the various methods and techniques through which HR can overcome the challenges of present business scenario Methodology – The analysis of this paper is totally depend upon secondary data like journal, books and various website from internet Introduction HR managers are facing many challenges in present business scenario like Globalization workforce diversity, technological advances and changes in political and legal environment change in information technology. All these challenges increase the pressure on HR managers to attract, retain and nurture talented employee. HR professional can’t ignore these challenges rather they ought to be line to design and execute innovative mechanisms of developing skills and competencies...
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...by the global economic, increasing racial and ethnic diversity in the workforce, and advances in technology Due to economic globalization, many organizations are now operating around the world. It adds a new dimension to multinational operations because it involves the distinction environments, social, political and economic. Therefore, communication and control becomes more difficult. The global economic, increasing racial and ethnic diversity in the workplace, and advances in technology are major driving forces creating and shaping changes on organisational behaviour field today. These factors were equally important and can affect the performance and the company's workforce. Changes in an organization will involve "3P" test performance, productivity and profitability of the organization. Generally people are difficult to accept any changes and more reactive and not responsive. Callan(1992) says that during the time of great change in strategy and organization structure, employees can experience high levels of stress affecting their work and the scope of their responsibilities. They will act to provide individual and organizational strategies that may be effective in reducing employee stress and problems related. Therefore, before the implementation of this strategy, organizations need to empower employees to take the role of change and encourage them to take action to solve the problems that concern them. OB challenges in a rapidly...
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...Introduction The human resources of an organization consist of all people who perform its activities. Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job. What is the focus of HRM department? “The HRM focus should always be maintaining and, ideally, expanding the customer base while maintaining, and ideally, maximizing profit. HRM has a whole lot to do with this focus regardless of the size of the business, or the products or services you are trying to sell.” (Dr....
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...INFORMATION TECHNOLOGY AND ORGANIZATION DEVELOPMENT Abstract Over the years information technology (IT), has increasingly become an important factor and fundamental to support organizational processes and development. When one hears the terms Information Technology and Organizational Development, one may think of two different completely opposite entities and industries. However, there are many theories that recognize information technology (IT) as a critical infrastructure in many organizations and also developing as an effective contributor to organizational performance. In this paper, I will determine if there’s an association between the two industries as it relates to organization development efforts of an organization. I will also determine the effects information technology has on organization development. Introduction Information Technology What is Information Technology? According to Dictionary.com, Information Technology (IT) is “the development, implementation, and maintenance of computer hardware and software systems to organize and communicate information electronically.” It is referred to as anything that relates to computing technology, such as networking, hardware, software, the Internet and etc. It is very obvious that we live in a technology driven world. Information technology (IT) is recognized as a critical infrastructure in many organizations. IT is also emerging as an effective contributor to organizational performance. It is often argued that success...
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...Rajni Devi, Jasbir Singh/International Journal of Advanced Engineering & Technological Research (IJAETR) www.abhinandanpublications.com/ijaetr Vol. 2, Issue 3, May-June 2013, pp. 407-414, ISSN: 2278-7070 (Online) Impact of Human Resource Practices on Organization Outcome Ruchi Sharma ABSTRACT Human Resource is the most important asset for any organization and it is the source of achieving competitive advantage. Managing human resources is very challenging as compared to managing technology or capital and for its effective management, organization requires effective HRM system. HRM system should be backed up by sound HRM practices. HRM practices refer to organizational activities directed at managing the pool of human resources and ensuring that the resources are employed towards the fulfillment of organizational goals. This paper has been designed to review the existing literature available on HRM Practices. The purpose of this paper is to develop an understanding of impact of human resource practices on hr outcomes. After reviewing the existing literature on HRM practices, the researchers have found that HR outcomes have great impact by human resource practices. HISTORY HRM in India is centuries old. The first reference of HRM was provided by Kautilya as early as 4th century B.C. in his book Arthashastra‘. The work environment had logical procedures and principles in respect of labour organization such as Shreni‘Wages were paid in terms of quantity and quality of work...
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...To get Achievement in implementing plans or running in right path manager must first understand the values and culture of organisation.Managers should only try to implement the strategies which are favarouble with the organizations culture and value otherwise it is very likely to he may not succeed. As change in culture and value the manager should constantly be up dated with organization current atmosphere. Organizational culture can be better understood by observing the basic day to day life activity of employees within in the office building or within the organisation. Observing activity should include the relationship between employees themselves between higher authority and junior staff. How senior managers treat their junior. Organisational culture can also be understood by knowing how employees behave with their customers and suppliers. And one should also notice that how formally or informally people behave within the organization and weather there is abusing going within the staff from any superior staff to their junior staff. One can also analyse the organization culture by inquiring with customers about the treatment given to them by organization and also by having close look about team work and do’s and don’ts around and within the organization. These are just the few ways to analyse the organizational values from many other possible ways. 1.2 Explain internal and external factors that could influence organisational culture...
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..."Name the contemporary HR changes and challenges. Then select one of these changes or challenges and discuss in more detail” The Human Resource managers of today are faced with a multitude of contemporary changes and challenges, these changes and challenge lie within areas of: There are significant changes regarding ‘Industrial Relations’ with specific concerns around reduced job security and the demand for greater labor flexibility (Stone, 2013 p.7). Human Resources face challenges surrounding ‘Globalization’, where there is an increased flow of skilled and unskilled workers coming in and out of Australia and the high demand for skilled foreigners to work in Australia on specific Australian projects (Stone, 2013 p.7). Human resource managers need to be aware of ‘The Changing Work Culture’, which characterizes the push for a fresh corporate culture, which promotes flexibility, increased employee involvement, trust, performance and the attraction and retention of skilled and educated workers (Stone, 2013 p.7). Human resources also face both changes and challenges in the area of ‘Workforce Demographics’, as there is an increase the multigenerational workplace, with the elderly working longer past retirement age, The increasing number of highly skilled female workers and a greater number of females being in professional and managerial positions (Stone, 2013 p.7). Human resources face the contemporary Challenge surrounding the issue of ‘Remuneration’ specifically...
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...growth market for legal services. Availability of highly skilled capital at competitive prices. Growth of LPO (legal process outsourcing) industry providing a boost to legal services. Huge market for legal services in the US accounting for 49% of the global industry. Arbitration opportunities in India provided a market for legal services. Growth in the IT and infrastructure sector giving a fillip to legal services. Social: Lack of educational and vocational opportunities for the people to develop their career in legal services industry. Inclination of people to make out-of-court settlement due to extended nature of court cases. Technological: Use of efficient and state-of-the art system and processes to increase effectiveness of services to clients. Manual load on the people were reduced with new technological systems. Use of modern technology increased the effectiveness of their people and hence, productivity. Cultural ...
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