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HUMAN RESOURCE MANAGEMENT, OBJECTIVE AND SCOPEOF HRM

  Human resource management is concerned with the "people" dimension in the management. Human resource management means the management of people within an organization . Since,every organization is made up of people, acquiring their services, developing their skills, motivating them to higher level of performance and  ensuring that they continue to maintain their commitment to the organization are essential to achieve organizational objectives. Those organization that are able to acquire ,develop ,stimulate and keep outstanding workers will be both effective and efficient.  Those organizations that are ineffective or inefficient risk the hazards of stagnating or going out of business. Human resource does creates organization and makes them survive and prosper.  If human resources are neglected or mismanaged, the organization is unlikely to do well. "Human resource management is the field of management which has to do with planning organizing and controlling the func...
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ASSETS AND LIABILITIES

ASSETS 

Anything which, will enable a business enterprise to get cash or a benefit in future is an Asset or Anything  which is the property of a business enterprise including the amount due from debtors is called an asset .

"Assets are future economic benefits, the rights of which are owned or controlled by an organization or individual. "
                                                     FINNEY &MILLER 




EXAMPLES 

1. Cash & Bank  balances 

2. Stock 

3. Furniture 

4. Machinery 

5. Land &Buildings 

6. Bill  Receivables

7. Debtors  etc.  


TYPES OF ASSETS 

1. FIXED ASSETS 

Fixed  Assets are those assets which are used in business for producing goods and services and are not meant for sale. For example 
1. Land & Buildings 
2. Plant&Machinery 
3. Furniture 
4. Motor vehicles  etc. 

2. CURRENT  ASSETS 

Current Assets are those assets which is converted into cash within one year.  As such these assets are also known as active assets. 

For example  debtors are expected to be converted into cash within a reasonable short period. 

Current assets are also known as floating assets or circulating assets because amount and nature of these assets keeps changing continuously. 

Examples of current assets are

1. Cash in hand 
2. Cash at  bank
3. Bill Receivable 
4. Debtor etc. 



3. TANGIBLE  AND INTANGIBLE  ASSETS 


TANGIBLE  ASSETS
These are those  assets which can be seen and touched. For example 
1. Land & Building 
2. Furniture 
3. Stock 
4. Plant etc. 

INTANGIBLE  ASSETS 
 
These are those assets which do not have a physical existence and which cannot be seen or felt. For example 

1. Patents 
2. Goodwill 
3. Trade Mark etc. 


4. LIQUID ASSETS 

Liquid Assets are those assets which can be quickly converted into cash. These assets are highly liquid in nature despite of current assets. 
For example 

1. Cash 
2. Bill Receivable 
3. Short term investment  etc. 



LIABILITIES 

It refers to that amount which a business entity has to pay to the creditors. When a firm purchased goods on credit from a dealer, the amount owing to that dealer is a liability. 
For example 

1. Bill payable 
2. Creditors 
3. Unpaid wages etc. 

TYPES OF LIABILITIES 

1. Long Term Liabilities 

It refers to those liabilities which falls due for payment in a long period ,normally more than 1 year. For example 

1. Long term loans 

2. Debentures 

2. Short Term  Liabilities 

These refers to those liabilities which are to be paid in near future, normally within one year.
For example 

1. Bank Overdraft 

2. Bills Payable

3. Outstanding  Expenses 

4. Creditors  etc. 





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