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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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CLASSIFICATION OF ACCOUNTS

 



PERSONAL ACCOUNTS 


The accounts which relate to an individual, firm,company or an institution are personal accounts. For example, account of Harish, account of RCM Ltd, bank account,capital account etc. 

RULE OF PERSONAL ACCOUNT 

RULE:- Debit the Receiver Credit the Giver

We can say that the person who receives something from the business, debit that person's  accounts and the person who give something to the business, credit that person's accounts. 

EXAMPLE

● Cash recieved from Moni

The entry will be :-

 Cash A/c
           To Moni (credit the giver)


● Cash paid to Moni

The entry will be:-

Moni (debit the receiver)
         To cash A/c 


NEED OF PREPARING PERSONAL ACCOUNTS 

Personal accounts is maintained to know the amount to be paid and amount to be received  from personal accounts. 


REAL ACCOUNTS 

The accounts of all those things whose values can be measured in terms of money and which are the properties of business are termed as Real accounts. For example  cash account, Furniture account,Machinery  account.

RULE OF REAL ACCOUNT

RULE:- Debit what comes in and credit what goes out.

According to this rule,whenever any property comes into the business, it is debited and when it goes outside the business, it is credited. 

EXAMPLE

Machinery purchased of ₹5,00,000

Machinery A/c    (  debit what comes In)
              To Cash   A/ c  ( credit what goes out)



NEED OF PREPARING REAL ACCOUNT

Real account helps to know the true financial position of the business because it represents the value of properties owned by the firm. 


NOMINAL ACCOUNT 

These accounts include the accounts of all expenses and incomes. For example:- salaries paid,commission received, discount allowed, discount received etc.

RULE OF NOMINAL ACCOUNT 

RULE:- Debit the expenses and losses and credit the incomes and gains.


EXAMPLE   

(a) Paid ₹ 10,000 for rent. 

Rent A/c ( debit the expenses)
       To cash A/c ( credit what goes out)

(b)   Received  ₹ 2,000 for Commission 

Cash A/c ( debit what comes in)
      To Commission A/c ( credit the incomes)


NEED OF PREPARING  NOMINAL ACCOUNT 

Nominal account helps to provide information regarding amount paid separately on account of salary, rent, Commission etc.. 


THANK YOU 






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