Videos uploaded by user “Lavish Gupta”
Cash Flow Statement  ( Indirect Method ) AS 3 | Class 12th | CA Intermediate | Accounts
This video tell us about two things 1) What is Cash Flow Statement? 2) How to prepare it? This video on Cash Flow Statement is useful for Class 11th, class 12th, B.Com, BBA, CA, CS, Accountancy Students, Financial Management students etc. And just because this is an important topic, you should understand it properly. In this Cash Flow Statement, i have discussed Indirect Method. It is based on AS 3.
Views: 57904 Lavish Gupta
Current Ratio - Meaning/Formula/Analysis/Interpretation
Follow me on Facebook - https://www.facebook.com/Studywithlavish Current Ratio is a ratio which shows the relationship between current assets and current Liabilities. Objective - The ratio is calculated to measure the capacity of the firm to pay its short term liabilities and to ascertain the short term financial strength of business. In simple terms,its objective is to measure the safety margin for short term creditors. Components of current Ratio 1) Current Assets - It means those assets which are usually converted into cash or consumed within short period (say 1 year). 2) Current Liabilities - It means those liabilities which are required to be paid within short period (say 1 year). Interpretation of Current Ratio - Current Ratio indicates the liquidity of current assets or the ability of the business to meet its maturing current liabilities. High current ratio finds favour with short term creditors whereas low current ratio causes concern to them. An increase in the current ratio reflects improvement in the liquidity position of the firm. Analysis of Current Ratio/ Current Ratio Analysis This ratio is calculated by dividing the current assets with current liabilities.
Views: 11987 Lavish Gupta
Understand Golden Rules of Accounting by a 17 year old Commerce Student
Follow me on Facebook - https://www.facebook.com/Studywithlavish Golden rules of Accounting, personal Account, Real account, Journal entries, Nominal account, commerce, accounts, accounting, B.com, BBA, how to record journal entries, Golden rules of accounting in english, golden rules of accounting with examples, Golden rules of accounting in hindi
Views: 227069 Lavish Gupta
Maslow's hierarchy of needs theory | Maslow's theory of Motivation | Explained in easy way
Follow me on Facebook - https://www.facebook.com/Studywithlavish Hello guys, I am back with another video on Maslow theory of needs. This video is on demand by a subscriber namely Akanksha Gupta. And thanks for giving me this idea for my next video. So, if you guys also want a video on anything regarding Accounts, Economics, Ethics, Statistics, Entrepreneurship, Business Studies and even E.V.S... Just subscribe to this channel and leave me a comment below. So, today's video is on Maslow theory of needs or Motivation. Before starting you should know that this theory is given by Abraham Maslow, a U.S Psychologist and as you guys can see that this theory is named after him that is Maslow theory of Motivation. According to Abraham Maslow -"People have many needs which motivate them to work." For example- Some work for food, some work for house, some work for owning a car, some work so that their children can get a better education, Some work so that their family can live a better life. Human needs can be divided into various categories about which we will study in this video. According to him -"Human needs can be arranged into hierarchy." By hierarchy Abraham Maslow meant that the needs which are more important need to be satisfied first and others later. For Example- One cannot live without food, so satisfying his need of food is more important than buying a car., "Human Beings start satisfying their needs step by step as I previously said that needs which are more important need to be satisfied first and others later. "A satisfied need does not motivate human being." For example- If you are earning Rs. 10000/ month and your basic need of food, water is getting satisfied with that money, than those basic needs will not inspire you to put extra efforts. But if you have a need of car, than that can motivate you to put extra efforts to satisfy your need. Abraham Maslow gave this hierarchy of needs. According to him- Human needs can be divided into various categories which are physiological needs, safety needs, love/belongingness needs, esteem needs and self actualization needs. According to this Pyramid, Lower the need, Higher the priority and higher the need, lower the priority. As you can see that physiological needs such as food, water is more important than any other need. Now let's study the various categories of needs. First is Physiological needs These needs are also known as Physical needs or basic needs. Without satisfying these needs, a person cannot survive. These need includes need for food, shelter, water, clothing and other important things of life. As satisfying these needs is of utmost importance, it is at the base in the hierarchy of needs. Safety Needs These needs arise after the satisfaction of Physiological needs as I previously mentioned Human Beings start satisfying their need step by step. These needs are concerned with Physical Security against fire, accident etc. Apart from this, these needs are also concerned with Economic Security that is provision for old age or retirement and major illness etc. Next is Social Needs It is also known as Affiliation needs. As you guys know that Human is a social animals, thus he cannot live in Isolation. He has a need for love, affection, belongingness, friendship etc. These needs comes at the third place in the hierarchy of needs. After satisfying physiological and safety needs, satisfaction of social needs becomes important for people. Fourth need is Esteem Need These needs are also known as Ego Needs. These needs include need for self respect, positive self image, recognition and respect by others etc. One cannot neglect these needs, because everyone wants recognition and respect by others. Everyone wants to develop a positive image in the society and satisfaction of these needs enhance confidence and prestige of people. Fifth and the last need is Self- Actualization Needs These needs are at the highest level in the hierarchy of needs. These needs arise after the satisfaction of all other needs that is Physiological, safety, social and esteem needs. These needs relate to the desire for personal achievement and to become what one thinks he is capable of. For example- If one thinks he can be a CEO of Microsoft, thus without becoming a CEO of Microsoft, his self actualization need will not be satisfied. That's All. Thanks for watching.
Views: 53218 Lavish Gupta
Cash Flow Statement in Hindi ( Indirect Method ) AS 3 | 12th | B.Com | BBA | CA | CS
In Case you guys want to watch this video in English, here is the link - https://www.youtube.com/watch?v=d8QaGSKWkuU This video is on Cash Flow Statement in Hindi. Cash Flow Statement is a statement which shows the inflow and outflow of cash in a business during an Accounting period. Cash Flow Statement includes three things which are 1) Cash Flow from Operating Activities 2) Cash Flow from Investing Activities 3) Cash Flow from Financing Activities In this video, I have explained Statement of Cash Flow in Indirect method. Stay tuned for Direct Method.
Views: 4001 Lavish Gupta
Trading and Profit and Loss Account and Balance Sheet with Adjustments explained in easy way
Trading and Profit and Loss Account and Balance Sheet Explained with Example in easy way for Commerce Students | CA | B.Com | M.Com | CS Hello Guys, I am back with another video on Accountancy. In this video I am going to teach you guys how to prepare Trading Account and profit and Loss Account as well as Balance Sheet. And the best part of this video is that I am going to explain this with a difficult Example so that you guys would be able to do any kind of questions relating to Trading and Profit and Loss Account and balance Sheet. Okay so, let's start. Before starting with the Question, here is a quick format of trading and Profit and Loss Account. It starts with the heading Trading and profit and Loss Account for the year ending dash dash dash means for whatever period we are preparing it.So, if we are preparing it for the year ended 31st March 2016, we will say Trading and Profit and Loss Account for the year ended 31st March,2016. So, It is prepared in a T format, T as in English alphabets which includes Particulars Amount Particulars Amount as you can see in the slide. I still remember the time when I studied this format for the first time, I used to call it Papa P A P A Papa which is an Indian word for Father. So, this whole account is divided into two parts i.e Trading Account and Profit and Loss Account. Firstly we start with Trading Account. on the Debit side, we write Opening Stock, then To Purchases, then Wages and then Other Expenses. Okay, Always remember that we add the expression 'To' to every account written on the Debit side of the Trading account. And on the Credit side we write By Sales and By Closing Stock. On the Credit side we add ' By' to every account instead of To. Now, this is where almost our Trading Account ends. See, I said almost not completely. The most important part of Trading Account still lefts. As you guys may know that in Accounts we balance both Debit and Credit side i.e the total of Debit side should always be equal to the total of Credit side. Therefore, to balance both the Debit and Credit side of Trading Account, we use Gross profit or Gross Loss which is the main purpose of preparing Trading Account. Now, if the Credit side is more than the Debit side, we have Gross profit and if the Debit side is more than the credit side, we have gross Loss. These are the balancing figure which means that their amount will depend upon the difference between the Debit and Credit side. This is where our Trading Account ends. In't it simple? Don't worry if you guys feel it is difficult, stay with me till we solve the question and all of your doubts will vanish. so, here is the total of Trading Account which we write inside two straight lines. Okay, now it's the turn of Profit and Loss Account. It always starts with either Gross profit or Gross Loss. It depends upon the result of the Trading Account. If the result of the Trading Account is Gross Profit, profit and Loss Account will start with Gross Profit on the Credit side and if the result is Gross Loss, profit and Loss Account will start with Gross Loss on the Debit side. Also On the debit side of profit and Loss account we record Indirect Expenses i.e all other expenses except Direct Expenses and on the Credit side, we record Indirect Incomes. Now, comes the Totaling part. So, as I said Debit is always equal to Credit , therefore If the Credit side is more, we have Net profit and if the Debit side is more, we have Net loss. So, if you guys want a complete explanation on Direct and Indirect Expenses and Incomes, the video link is in description. So, with this we have studied enough of the format, now let's solve an Example with Adjustments. Okay, so here is a Trial Balance given from which we have to prepare Trading and Profit and Loss Account as well as Balance Sheet. But before reading the question, you guys should have knowledge of Assets, Liabilities, Direct Expenses, Indirect Expenses and Indirect Incomes. Now, if you are studying Trading and profit and Loss Account, let me assume that you already know about Assets and Liabilities because we study thm in starting. Now Direct Expenses are those which are directly related to production. Example of Direct Expenses are Wages, Carriage Inward, Freight Inward, Octroi, Royalty on Production etc. And Indirect Expenses are those Expenses which are not directly related to production. Example includes Salary, taxes, Postage, Telephone Expenses, Insurance, Printing and Stationery Expenses, Depreciation, Advertisement Expenses etc. Now let's study the question. So, the question is the Following is the
Views: 16034 Lavish Gupta
Henry Fayol's 14 principles of management (Full explanation) | Full theory explained in easy way |
Follow me at Instagram at www.Instagram.com/lavishgupta1 Hello guys, I am Lavish Gupta and this video is about 14 Principles of Management which is a very Important topic. These 14 principles of management are given by Henry Fayol, a French Mining Engineer . and These Principles are collectively known as Administrative theory. Okay, 14 Principles of management are statements that are based on a fundamental truth and serves as a guideline for decision making and management actions.k They are drawn up by means of observations and analysis of events that managers encounters in practice. And, Henry Fayol, after years of study was able to give these 14 principles of management which are 1. Division of work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordinate of Individual Interest 7. Remuneration 8. The Degree of Centralization 9. Scalar Chain 10. Order 11. Equity 12. Stability of Tenure of Personnel 13. Initiative 14. Esprit De Corps Let's discuss about each of these Principles one by one :- First is Division of Work - This Principle is also known an Division of Labour. It refers to the division of work among various Individuals in the organization to bring about specialization in every activity. This Principle is equally applicable to managerial work and technical work. That means , not only the technical work has to be divided but the managerial work also need to be divided and distributed among various individuals in the organization Specialization increases the efficiency of Individuals. Fayol recommended that work of all kinds must be sub divided and allocated to a number of Person. Sub- division makes each task simpler and results in greater efficiency. Second Principle is Authority and Responsibility - Authority is the right or power to give orders to the subordinates and Responsibility means the duty which the subordinate is expected to perform by virtue of his position in the organization . Fayol recommended that Authority and Responsibility should go hand in hand because Authority without Responsibility might promote irresponsible behavior on the part of management and Responsibility without Authority will make management ineffective. Third Principle is Discipline - Discipline means getting obedient to rules and regulations of the organization. And Employees must obey and respect the rules that govern the Organization for the smooth functioning of the organisation. According to Fayol, Discipline can be maintained by 1. Having good superiors at all levels. 2. Entering into Agreements. 3. Ensuring that Penalties are judiciously imposed. Unity of Command - According to this Principle, Each Subordinate should receive orders and be accountable to one and only one superior. No Employee should receive instruction from more than one person. This Principle is necessary to avoid confusion or conflicts. For Example- If there are more than one Superior and each want that work is carried out according to his/her instructions. The Employees may get confused regarding whose Instruction, they should follow. There is also possibility of conflict among the Superior regarding how the work should be completed. Unity of Direction- This principle states that there should be one head and one plan for activities having similar nature. That means Each Organizational activities that have the same objective should be directed by one manager using one plan for achievement of Organizational goal. No organization can succeed unless there is Unity of Direction. Unity of Direction alone can produce a sense of loyalty and devotion amongst Subordinates. Subordinate of individual Interest to General Interest - This Principle calls for the reconciliation of Individual Interest to those of the organization. Both of Employees and the Management should subordinate their interest to the general interest of the organization so that goals of the organization are achieved. Individual Interest should not become of more Priority than the Inte
Views: 2828 Lavish Gupta
Principles and Techniques of Scientific Management | F.W Taylor| Part - 1 | Full theory explained |
Principles and Techniques as well as Elements of Scientific Management theory Follow me on Instagram at - www.Instagram.com/lavish.mahajan Hello guys, this video is about a world famous marketing theory which is known as Scientific management theory. And in this video we are going to study Principles and Techniques of Scientific Management. But before starting, let me introduce myself first. I am Lavish Gupta and I am doing BBA (1st year). I think that's enough. Okay, starting with a little general information about this theory. This theory is given by Frederick Wiinslow Taylor in 1909. He is popularly known as F.W Taylor. Okay, the main objective of this theory is improving economic efficiency, especially labour productivity. It was one of the earliest attempt to apply science to the management. Okay, the main principles of Scientific Management are 1) Science, not Rule of Thumb 2) Harmony, not Discord 3) Cooperation, not Individualism and 4) Development of Each and Every person to His/Her Greatest Efficiency and Prosperity. Let's study about each of these principles one by one. First is Science not Rule of Thumb. Before knowing about this principle, firstly you should know what is Rule of Thumb. Rule of Thumb’ means the application of traditional methods or the methods decided by the manager based on his past experience. And In this principle, Taylor states that there must be thinking before doing and scientific and researched methods should be adopted for performing any activity instead of Trial and Error method. Taylor insists on the use of scientific techniques, which are based on cause and effect relationship so that the objectives can be achieved in a better way with the available resources, skills and budget. Thus, the emphasis is on scientific decision making based on cause and effect instead of Rule of Thumb. Next Principle is Harmony, not Discord See, In every organization there are two groups of people i.e. “workers’ and ‘management’ and both always feel dissatisfied with each other. Workers always feel that they are overburdened and are underpaid whereas Management always feels that workers are good for nothing and are paid unnecessarily. In this principle, Taylor insisted that both the groups should work together with a positive attitude towards each other and with mutual cooperation. They must share the ‘Give and Take’ relationship while working with each other for the prosperity of the organization as well as for their own betterment. Taylor emphasized on Mental Revolution which means a change of attitude of both groups towards each other. Acc to Taylor the prosperity of the organization depends on both Workers and Management, and thus both should work with each other in harmony and avoid discord. Management should take care of the workers in a better manner by providing them better working environment, and workers should take care of the management by giving their best towards the achievement of the organizational goals. Both groups should feel and work together as a family with one goal and in one direction, so that each activity can be done in a better manner and the goals of the organization can be easily achieved. Now, the third principle is Cooperation, not Individualism. Cooperation’ means acting jointly towards achieving the same result. Taylor emphasized that the workers and the management should act jointly to achieve the organizational objectives. Management as well as the employees are basically the two important component of the organization and without them the organization cannot work properly. This principle states that the work should be done in cooperation and with mutual confidence. Employees and management should co-operate with each other. A best way to gain full cooperation from the workers is that the management should try to set the goals and standards in consultation with the workers, so that they feel that the goal is set by them and as a result of psychological factor they will co-operate sincerely and willingly to achieve the determined goal. This principle is very important as no individual on his own can make a change in the organization. Management will always need workers to implement its plans and procedures; and the workers always need management’s help and inspirational guidance to achieve the specified targets and their livelihood. Thus, the management should try to maintain a cordial relation with the workers and among the workers because management can do nothing without the employees and as a result organization will suffer. Fourth Principle is Development of Each and Every person to His/Her Greatest Efficiency and Prosperity. See, The well being of any organization depends upon the efficiency of the workers because workers are the key elements of any organization.
Views: 4826 Lavish Gupta
Quick Ratio Meaning, Formula and Analysis ( Acid Test Ratio)
Follow me on Facebook - https://www.facebook.com/Studywithlavish This video is about Quick ratio which is another type of liquidity ratio. In my previous video I had discussed current ratio and in this video I have discussed Quick Ratio which is also known as Acid Test Ratio. There are three things defined in this video which are Quick Ratio Meaning, Formula and Analysis. It is a ratio which is used to know whether a company can pay its current liabilities out of Quick Assets or not. Quick Assets are those assets which can be converted into cash usually within a period of one year. Current Liabilities are those liabilities which need to be paid within a year. Quick Ratio formula = Quick Assets/ Current Liabilities. Usually 1:1 is considered as Satisfactory ratio. Higher quick ratio than 1 means the company is in a better position to pay its current liabilities.
Views: 2251 Lavish Gupta
Users of Accounting Information - ( Internal and External )
Who are the Users of Financial Information and why they need it? Follow me at Instagram at - https://www.instagram.com/lavish.mahajan/ Users of Accounting Information - Internal & External Accounting information helps users to make better financial decisions. Users of financial information may be both internal and external to the organization. Internal users (Primary Users) of accounting information include the following: Management: for analyzing the organization's performance and position and taking appropriate measures to improve the company results. Employees: for assessing company's profitability and its consequence on their future remuneration and job security. Owners: for analyzing the viability and profitability of their investment and determining any future course of action. Accounting information is presented to internal users usually in the form of management accounts, budgets, forecasts and financial statements. External users (Secondary Users) of accounting information include the following: Creditors: for determining the credit worthiness of the organization. Terms of credit are set by creditors according to the assessment of their customers' financial health. Creditors include suppliers as well as lenders of finance such as banks. Tax Authourities: for determining the credibility of the tax returns filed on behalf of the company. Investors: for analyzing the feasibility of investing in the company. Investors want to make sure they can earn a reasonable return on their investment before they commit any financial resources to the company. Customers: for assessing the financial position of its suppliers which is necessary for them to maintain a stable source of supply in the long term. Regulatory Authorities: for ensuring that the company's disclosure of accounting information is in accordance with the rules and regulations set in order to protect the interests of the stakeholders who rely on such information in forming their decisions.
Views: 3092 Lavish Gupta
Trial Balance Format, Concept, Importance and Limitations Fully Explained in Easy Way
Trial Balance Meaning, Limitations. Advantages, Importance, Format Meaning of Trial Balance (Accounting Explained) This video is about Trial balance in which we are going to study all the things related to Trial Balance like Meaning of Trial Balance, its limitations, importance, format etc Also , please bear in mind that this is a very important topic for commerce student as it is useful in Class 12th, B.Com, BBA, CA CS, etc. So, understand carefully. Follow me on Facebook at https://www.facebook.com/Studywithlavish/ https://www.instagram.com/lavishgupta1/
Views: 861 Lavish Gupta
Erikson's theory of Psychosocial Development | 8 Stages of Development
This theory is given by Eric Erikson also known as Eric Ericson . This theory is known by various names such as Erikson's theory of Psychosocial Development, Erikson's 8 stages of Development. In this theory Eric Ericson has given 8 stages ranging from 1) Trust Vs. Mistrust 2) Autonomy Vs. Shame and Doubt 3) Initiative Vs. Guilt 4) Industry Vs. Inferiority 5) Identity Vs. Role Confusion 6) Intimacy Vs. Isolation 7) Generativity Vs. Stagnation 8) Ego Integrity Vs. Despair 'Early adulthood, infancy, Maturity, School age, Psychology, Erik Erikson Follow me on Instagram at - https://www.instagram.com/lavish.mahajan/
Views: 5108 Lavish Gupta
Principles and Techniques of Scientific Management | Part -2
Principles and Techniques of Scientific Management | Part -2 Follow me on Instagram at - http://Instagram.com/lavish.mahajan Hello guys, this is the 2nd part to the video Principles and Techniques of Scientific management. First part of this video contains Principles of Scientific Management and this part contains Techniques of Scientific management. So, if you want to see Principles, kindly click the link below and if you want to watch Techniques of Scientific management, then stick to this video. So, there are five main techniques of Scientific Management which are :- 1) Functional Foremanship 2) Standardisation of work 3) Scientific Study of work 4) Differential wage system/ Differential Piece rate 5) Mental Revolution Let's understand each of these one by one. First is Functional Foremanship. It is an extension of principle of division of labour, resulting in specialisation. According to Taylor, a single worker or supervisor cannot be expected to be an expert in all aspects. Thus, he advocated the appointment of eight foremen to guide workers, under planning and production departments. Under the planning incharge, there are four personnel: Instruction Card Clerk, Route Clerk, Time and Cost Clerk and Disciplinarian. Whereas Under the Production In change there are also four personnel namely Gang Boss, Repair Boss, Inspector and Speed Boss. Let's do a very brief introduction of all of these personnel. First is Instruction Card Clerk. This clerk prepares the instruction cards for the workers and hands them over to the gang boss. These cards contain information about the nature of the work, procedure of doing it, material to be used and the details about machinery etc. Next is Route clerk This clerk ensures the sequence of completing a particular work and also decides the job to be done for the day and where it is to be done. Third is Time and Cost Clerk This clerk decides as to when a particular work is to be started and finished and also decides at what cost the product will be produced. Next is Disciplinarian He ensures that every work is being performed in a disciplined manner. In Production in charge , first is Gang Boss- See, the workers are divided into various groups from the point of view of control and A group leader is selected who is known as the gang boss. He is expected to ensure that both the workers and the machines are fit enough for production and that the material required for their use has been made available to them. next is Repair Boss The main function of the repair boss is to keep the machines and tools in working condition. Third is Inspector He inspects the things produced and compares their quality with the standard prescribed for them and tries to find out the difference. In case of unfavourable result he initiates corrective action. and the last one is Speed Boss The main function of the speed boss is to ensure that all the workers are performing their job at the required or expected speed so that work can be completed at the required time.. Next Technique of Scientific Management is Standardisation of Work. Standardisation means setting standards for different factors, after due deliberation. For example, the amount of work to be done by a worker in a day may be standardised. In other words, the worker is expected to do the standard amount of work every day. In the same manner standards may also be set for raw materials, machines and tools, techniques, conditions of work, etc Third technique is Scientific Study of Work. It means to conduct the deep analysis of all the activities being performed in the organisation with the aim of producing maximum possible quality output at minimum costs. Taylor has conducted the following studies: (i) Method Study, (ii) Motion Study, (iii) Time Study, and (iv) Fatigue Study. Let's know about each of these studies one by one First is Method Study This technique of scientific management is conducted to find out the ‘one best method or way’ of performing a particular task. The objective of this study is to minimise the cost of production and maximise the quality and satisfaction of the customer Next is Motion study Motion study refers to an in-depth study of movements of a worker while doing a task. Taylor recognised three types of movements: (a) Productive (b) Unproductive (c) Incidental The objective of motion study is to eliminate unproductive movements in doing a task to achieve efficiency and reduce the time required to do the task. Third is Time Study It determines the standard time taken to perform a well-defined job. Time measuring devices were used to conduct this study. This type of study is helpful in deciding the time required to perform a job. And Fourth is Fatigue Study Fatigue study seeks to find out the amount and' frequency of rest intervals to be given to workers in completing a task. This would help the worker to regain his stamina and work with the same efficiency again.
Views: 1655 Lavish Gupta
Trick to do square multiplications of any number within 2 seconds. | SSC | CAT | RBI | Govt. Exams |
Tricks to square multiplication within seconds. Benefits of this trick. 1. Methods which can help you in cracking any government exam. 2. Tricks for square multiplication to pass all competitive exams. 3. Easiest way of doing math calculations to save the time in exams. 4. Formulae of doing multiplication to clear board exams. 5. Tricks which can help you in pass SSC / PO / RBI / SBI / CHSL / CGSL. 5. Method of square multiplication to clear all MAT / GMAT / CAT / SNAP exams. 6. Simplest way to find out the squares. So, these tricks can help you in various different ways. From passing your board exams to passing exams to take an admission in MBA further it can help you in passing any government exams, competitive exams. These methods are very helpful for all the students because in today's world there is too much competition so for that one has to be more intelligent from the others. So these tricks can help you in that.
Views: 250 Lavish Gupta