Best Commerce Notes For Revision

  Production Cost ....... ...short and easy notes for board exam. 1. What do you mean by production cost? > The expenditure made on factor of production to produce final product is called cost of production. C = f(O) 2. What do you mean by money cost? > Cost of production measure in term of money is called money cost. Money cost is the monetary expenditure on factors of production. Following item included in money cost; Expenditure on raw material. Wages and salaries. Expenditure on indivisible big machines. Interest paid on capital. Rent, i.e., payment to land/building owner. Depreciation. Management expenses. Advertisement expenses. Transportation expenses. Payment made to insurance companies. Normal profit. Fuel expenses. Money cost = explicit cost + implicit cost + normal profit 3. What do you mean by explicit cost? > Cash paid to outsider by the firm for their services and goods, is called explicit cost. Following items are included in explicit cost; Expenditure on r...

Marketing Management ..........short and easy notes for board exam. 1. What do you mean by marketing? What are its functions? > Marketing is that process under which goods and services are created, offered and by doing transaction independently. The needs are satisfied. Following are its Essential elements; It is related to goods and services. It satisfy the needs of customers. It generate revenue from business. It determine the appropriate marketing mix of the firm. Following are its functions; It provide marketing research in solving marketing problems. It involved product creation to satisfy the needs of customers. It provide information regarding the needs and taste of customer to the supplier. It provide design of appropriate container for the product. It provides storage and warehousing facilities. It provided transport facilities for movement of goods from one place to another. It provide advertising regarding the goods. It fix the price of product and services. Marketing mak...

  Financial market..........short and easy notes for board exam. 1. What do you mean by money market? what are its characteristics? What are its important instruments? > Money market is the market of short term funds. It is considered as a market for providing working capital. Following are its characteristics; Short term security are traded in money market. It deals in short term funds for a period of one year. It focus on meeting of working capital requirements. Financial company or institutions are its major participants. Security of money market are highly liquid. Important instrument traded in money market; Call money - the day to date surplus fund of bank are traded as call money. It provide temporary shortage of cash. It is also called telephone market. Its maturity period are very short. Sometimes be only few hours. Treasury bill- it is issued by RBI on behalf of the government. Its maturity period are of the Government of India. It is issued at a discount. Its maturity...

Financial Management. .. .   Short & Easy Notes for B oard Exam. 1. What do you mean by financial management? what are its role? > Financial management is concerned with the managing finance of the business for smooth functioning and success of the enterprise. The primary objective of financial management is to maximize owners wealth and others. Following are its objectives; To ensure adequate supply of capital to the business. To use fund effectively. To conserve the fund through creation of reserve and investment of profit. Financial management plays the following roles; Determination of fixed assets. Determination of current assets. Determination of proportion of long-term and short-term finance. Determination of various item of profit and loss account. 2. What do you mean by financial planning? what are its importance? > Financial planning refers to estimate the amount of capital and determining its composition. It means deciding in advance how much to spend and on wh...

Controll i ng . . .. .   Short & Easy Notes for B oard Exam #1. What is Controlling? What are its features? > Controlling is the process of checking,measuring and regulating the ongoing activity.It compare actual performance with the standard performance to ensure that, all activity are performed as per plan, all resources are performed as per plan and corrective action is taken in case of any deviation. Following are its features; It is an essential managerial function at every level. It is regular exercise. It is forward looking. It is both negative and positive. It is needed at all level of management. It can not be exercised without plan. It is last function of management . #2. write the importance of controlling? >It is an essential feature of scientific and successful management.It focus on the improvement of controlled technique. Following are its importance; It ensure that actual performance is in accordance with the plan performance It help in achieving the organ...

Direct ing . . .. .   Short & Easy Notes for B oard Exam #1. What do you mean by directing? What are its characteristics of features? What are its importance? > directing means giving instructions, guiding, counselling, motivating and leading the staff in an organisation in doing work to achieve organisational goal. It is an important managerial function concerned with putting the organisational plan into effect. It is also known as acquisition and leading. Following are its characteristics; Pervasive function- directing is required at all level of organisation. Every manager provide guidance and inspiration to his subordinates. Continuous activity- directing is an continuous activity. The process of directing is continuous throughout the life of organisation. Human factor - directing function is related to subordinates and therefore it is related to human factor. Creative activity- directing function helps in converting plans into performance. Without this ...