COMMERCE CLUB@KKMHSS

Assignments for plus one students

2012-09-21T00:14:00.001-07:00

Illustration 1. Enter the following transactions in the book of John, post them into the respective 'T' accounts.
2007
March 1 Started business by introducing Capital in Cash Rs.2,40,000
March 2 Opened bank account with ICICI Bank Rs.1,00,000
March 3 Purchased computer for office Rs. 40,000
March 4 Purchased office furniture Rs. 20,000
March 5 Purchased goods Rs. 50,000
March 7 Purchased goods of list price Rs. 20,000 at 10% trade Discount.
March 15 Sold Goods for Cash Rs. 30,000
March 18 Sold goods of the list price of Rs. 15,000 at 5% trade discount.
March 25 Paid wages Rs. 1,000
March 26 Sold goods Rs. 2,000
March 29 Sold goods Rs. 5,000
March 31 Paid- Rent Rs. 5,000
March 31 Salary Rs. 5,000
March 31 Withdrew Cash for office use Rs. 7,000

IIlustration 1. Journalise the following transactions in the books of Subash and post into respective 'T' accounts:
2007
April 1. Started business with Cash Rs. 7,00,000, Furniture worth Rs. 1,00,000 and Machinery
worth Rs. 2,00,000.
” 2. Deposited Rs. 3,00,000 in bank.
” 3. Purchased goods from Vikram for Rs. 15,000 and from Sharma for Rs. 7,500.
” 4. Goods returned to Sharma worth Rs. 1000 since the same were not as per the sample.
” 5. Sold goods for cash worth Rs. 8,000.
” 6. Sold goods to Kiran worth Rs. 8,900.
” 7. Damanged goods returned by Kiran worth Rs. 900.
” 8. Purchased goods at list price for Rs. 18,000 from Rao at a trade discount of 10%.
” 9. Sold goods at list price of Rs. 6,000 to Sunil at a trade discount of 5%.
” 10. Received Rs. 6,000 from Kiran on account.
” 11. Paid to Vikram by cheque Rs. 14,900 and he allowed discount of Rs. 100.
‘ 12. Paid to Sharma Rs. 6450 in full settlement of his account.
” 13. Paid for repair of furniture Rs. 700.
” 14. Paid for insurance of machinery Rs.1,000.
” 15. Sold goods for Cash worth Rs. 3,400.
” 16. Purchased goods from Hari for Rs. 13,500.
” 17. Received from Sunil the full amount due to him.
” 19. Paid wages Rs. 3,400.
” 20. Withdrew cash for personal use Rs. 5,000.
” 21. Depisited cash into bank Rs. 1,50,000.
” 22. Paid to Hari Rs. 10,000 on account.
” 23. Paid for petty expenses Rs. 200.
” 24. Paid trade expenses of Rs. 800.
” 25. Paid commission Rs. 1,200.
” 26. Withdrew goods of the cost price of Rs. 900 for personal use.
” 27. Withdrew cash from bank Rs. 5,000.
” 28. Purchased goods for cash Rs. 17,000.
” 29. Sold goods for cash Rs. 13,500.
” 30. Paid rent of Rs. 10,000 and salary, Rs. 28,000.

Accounting Cycle

2012-09-20T23:29:00.001-07:00

Accounting Cycle

First year students can make use of this Accounting cycle to gain a clear idea about accounting

2012-09-16T05:25:00.000-07:00

Commerce Club 2012 of our school celebrated onam festival by distributing 'PAYASAM' to all students of commerce. The function was inaugurated by Sri. G. Vincent, Principal , PTA Vice President Sri.Balan, PTA member - Sivaraman also attended the function.Teachers of commerce, 2nd year students and 1st year students were present in the function.

PARTNERSHIP - Basic Concept- Home work

2012-05-21T07:12:00.002-07:00

1. From the following information given below compute the value of goodwill at 3 years purchase of 5 years average profits

Year: 1999 2000 2001 2002 2003

Profit (Rs) 20,000 21,000 22,000 25,000 30,000

2. Calculate the value of goodwill as on 1st january, 2005 on the basis of three years purchases of the average
profits of the last five years profits. The profits and losses for the years were:

Year : 2000 2001 2002 2003 2004

Profit : 40,000(Loss) 92,000 55,000 70,000 90,000

3. The profit of a firm for the last 5 years ending 31st March were as follows:

Year : 2000 2001 2002 2003 2004
Profits: 12,000 15,000 25,000 30,000 23,000

Calculate the value of goodwill on the basis of 3 years purchase of weighted average profits. The appropriate weight for the last 5 years were 1,2,3,4 and 5 respectively.

4. Profits of the firm for the last 5 years were:

Year: 2004 2003 2002 2001 2000
Profit: 30,000 28,000 25,000 24,000 18,000

The capital employed in the firm is Rs.4,00,000. You are required to compute the value of goodwill at 2 years purchase of super profit, assuming that the normal rate of return on capital employed is 5%.

5. A firm has mad an average profit of Rs.30,000 during the past few years. The normal rate of return in similar type of business is 15%. The firm has a net tangible asset of Rs. 1,60,000. Find out the value of goodwill by capitalisation method.

6. The following relate to the profit made by a firm for the last four years.

Year : 2000 2001 2002 2003
Profit : 20,000 30,000 60,000 90,000

The capital employed by the firm is Rs.5,00,000 and normal rate of return is 8%. Calculate goodwill of the firm under capitalization of super profit method.

7. Aneesh is a partner in a firm and his withdrawals for the year ended 31st december 2002 are as follows:
January 31 - 3,600
March 31 - 2,400
June 30 - 4,800
August 31 - 1,200
October 30 - 6,000

Charge interest on drawings at the rate of 5% per annum using product method.

Commerce with glamour

2011-10-07T09:22:00.000-07:00

Encomiums for B.Com, M.Com

Gone are the days when science courses were the only options that students considered a ticket to employment. If recent trends are to be believed, students are reposing tremendous faith in commerce courses as an option, right from the pre-university level to undergraduate courses.

Increasing job prospects in finance and banking related sectors, student-oriented and employer-friendly syllabus and the course being less expensive than others has made commerce the front-runner among all degree courses, experts feel. Career opportunities start knocking on the doors even when the students are in their final year. Consequently, not only the number of applications for commerce courses multiply by the year, but there is also a distinct improvement in the quality of students taking the route with several meritorious candidates actively choosing commerce over past favourites.

Cut-off marks

The cut-off marks in the general merit category too is moving upward. Even in colleges in remote areas or mofussil centres, the average cut-off mark for admission to B.Com remains stable at 65-70 per cent, despite the fact that the universities are increasing the total intake by 10 per cent every year.

“This year 112 colleges affiliated to Karnatak University-Dharwad (KUD) have admitted 15,000 students for B.Com. Courses such as BBA and BCA are not much in demand for the reason that the fee structure is high and they do not guarantee job opportunities unlike B.Com. The employment generation for BBA or BCA graduates is not as high as for B.Com graduates,” said R.L. Hyderabad, Chairman Department of Studies in Commerce, and S.G. Hudekar, professor in the same department.

Admissions for BBA, BCA, MBA and MCA are witnessing a downward trend. “B.Com has overtaken BBA and BCA for which the admission has come down by an estimated 25 per cent. The preference of the meritorious students has changed over to B.Com,” said Y. Bhaskar Shetty, Principal, Mulky Sundar Ram Shetty College, Shirva, Udupi.

Unlike the earlier trend of colleges seeking the respective university's permission to increase intake for management and computer courses, they now prefer more intake for B.Com, he said.

The commerce faculty of universities revising the syllabus in the most innovative ways and focusing on the needs of the industry were the reasons why this course is booming.

Prof. Hyderabad and Prof. Hundekar said the syllabus revision is done in consultation with professors from various sectors so as to enhance employability of graduates.

Commerce courses have taken the shape of integrated courses adopting innovative ideas. They are not limited to learning commerce theory and accounting. Instead, subjects such as marketing, company affairs, and computer accounting have been incorporated. Making computer accounting a compulsory subject helps the students avoid pursuing computer accounting, Tally etc., separately. These aspects help them face any kind of competition once they pass out, they said.

Good performance

P.S. Yadapadithaya, chairman, Department of Commerce, Mangalore University, said overproduction of management graduates and quality deterioration in management education resulted in high demand for commerce courses.

The performance of commerce graduates during the recession period was better than other graduates, and IT companies retained commerce graduates even during automation. Commerce graduates do well in the National Entrance Test (NET) also.

The syllabus is revised once in three years and the fundamentals of the subjects are strong. Unlike in BBA or MBA, the commerce students in degree or postgraduation receive advanced knowledge that puts them in a better position while competing for jobs, he said.

The trends in campus recruitment is a pointer to all this. Not only are commerce students getting selected in more numbers, certain firms have conducted exclusive campus recruitment for commerce students in Gokte College and J.G. College in Hubli-Dharwad. The students were selected by IT companies and financial institutes for an average starting salary of Rs. 20,000. Nationalised banks including Vijaya Bank and Syndicate Bank have begun campus recruitments.

The fee for courses in commerce remaining comparatively economical has proved to be helpful for meritorious students from the economically weaker sections. Talented students can look forward to an attractive job even when they are in the final year. Moreover, acute shortage in the fields of chartered accountancy, company secretaryship and cost accounting have provided talented students of commerce an opportunity to face national-level tests conducted for selection to these posts. Here too the fee structure is comparatively less, said Prof. Hyderabad.

Word of caution

However, Mr. Yadapadithaya cautioned that commerce courses too would meet the same fate as management or computer courses in the near future if universities fail to ensure maintenance of quality. When there was high demand for management courses, educational institutes lobbied for BBA and MBA courses. Universities too gave permission to start management courses perfunctorily without giving proper attention to infrastructure and faculty.

These factors resulted in deterioration of quality in management education and the employable skills of the candidates too have declined. The same should not happen to commerce courses, he said.

Expressing concern over the high number of commerce graduates getting selected in campus recruitments, he said if the creamy layer opts for lucrative jobs, it will have an adverse impact on postgraduate courses. If talented students do not join postgraduate courses, naturally the quality of teaching and other jobs that demand postgraduates will suffer, he added.

Article published in Hindu daily - a national news

Options in Commerce

2011-09-25T21:11:00.000-07:00

Pursuing Higher Studies in COMMERCE stream

There are several higher study options for meritorious graduates in commerce which includes Master of Business Administration with various specialisation such as finance, human resource management, logistics and supply chain management, port and shipping management, health care management, international business, IT management, marketing management and so on. Another good option

is chartered accountancy/ cost and works accountancy/ company secretaryship. Law and journalism are some other options for higher studies. Courses should be opted according to one’s aptitude and interest.

Since the quality of management education is important, aspirant should seek admission to leading institutions. Some institutes screen applicants for group discussion on the basis of the percentile and score obtained in IIM-CAT or other management aptitude / entrance tests. Top level institutions such as the Indian Institutes of Management (IIMs), call top CAT scorers for group discussion and personal interview.

IIMs at Kozhikode, Tiruchirappalli, Ahmedabad, Bangalore, Calcutta, Indore, Kasipur, Luknow, Raipur, Ranchi, Rohtak, Shillong and Udaipur are top level institutions. They hold computer-based CAT every year to admit students to their postgraduate programmes (PGP) in management and fellow programme in management.

Those who have a degree with at least 50 per cent marks (45 per cent marks for student belonging to the Scheduled Castes or Scheduled Tribes and the differently abled category) can take CAT. Those appearing for the final qualifying degree examination are also eligible to appear CAT. The IIMs conduct CAT across the country. In Kerala, Kozhikode and Cochin will be the test centres. The CAT score is valid for a year. The ranking and final selection may vary across IIMs as each

institute follows a diverse set of attributes including the score, written test, performance in group discussion and personal interview, academic merit, co-curricular achievements, and work experience for admission. Web site: www.catiim.in.

The two-year PG programme in management at IIMs aims at preparing young meritorious graduates for senior level managerial positions in industry. The students are encouraged to specialise in

two areas. The core courses comprise of finance, control and accounting, quantitative methods and operations management, marketing, IT and systems, strategy, organisational behaviour and human resource management and economics.

The programme lays great emphasis on knowledge assimilation. Summer projects are designed to

provide students an opportunity to put their learning into practice. Final placement process for the graduate batch takes place in March. IIMs students have enjoyed excellent placement records over the year.

Leading Indian and foreign companies visit IIMs to participate in the campus placement programme. In Kerala IIM functions at Kozhikode. Web site: www.iimk.ac.in.

Other prominent institutes

Some of the top Business Schools in the private sector in the country include Xavier Labour Relations Institute (XLRI) Jamshedpur; SP Jain Institute of Management, Mumbai; Xavier Institute of Management, Bhubaneswar; Narsee Monjee Institute of Management Studies (NMIMS University), Mumbai; Symbosis Institute of Management Pune; Management Development Institute (MDI) Gurgoan and K.J. Somaiyya Institute of Management, Mumbai. In the South one among the top-level institutes is Bharathidasan Institute of Management (BIM), Tiruchirappalli which offer two year full time MBA programme to meritorious graduates who qualify in the IIM- CAT.

Faculty of Management Studies (FMS) under the University of Delhi is another reputed centre which offers two-year fulltime MBA programme.

Graduates in arts, commerce or social sciences with at least 50 per cent marks or science with at least 55 per cent marks or mathematics/ statistics with at least 60 per cent marks are eligible for admission. The selection is based on entrance test and interview. Web site: www.fms.edu.

The XLRI Jamshedpur (www.xlri.edu) offers two-year postgraduate programmes in business management; personnel management and industrial relations for meritorious graduates in any discipline. The selection is based on XLRI – XAT score , group discussion, and interview.

Xavier Institute of Management, Bhubaneswar (www.ximb.ac.in), conducts a two-year fulltime PG diploma course in management for graduates in any discipline. The selection is based on XAT score, group discussion and interview.

NMIMS University’s School of Business Management offers MBA. The selection is based on NMAT score, group discussion and interview. Web site: www.nmims.edu.

K. J. Somaiya Institute of Management Studies and Research, Mumbai, offers PG diploma in management. The selection is based on IIM-CAT score, group discussion and interview. Web site: http://simsr.somaiya.edu.

Besides these, several other business schools/ institutes/ departments of management studies of universities also offer MBA programmes.

MFC

The Master of Finance and Control (MFC) is another option for higher study. This programme is aimed to equip a select group of students with conceptual and analytical skills for financial decision making. The students are provided with inputs in the basic areas of managerial decision-making such as organisational behaviour, managerial economics, quantitative techniques, financial accounting and

corporate laws as well as in different areas of finance such as financial management, financial services, international finance, international accounting, investment management and so on. To keep

students abreast with the latest developments in the field of finance. Department of Financial Studies of the University of Delhi, South Campus, New Delhi, which is one of the premier centre, offers MFC programme. The centre has updated its curriculum and included new courses such as derivatives and risk management, treasury management, real estate investment management, insurance management, mutual funds management and equity research. The Delhi University offers students a two-year course with a fine blend of theoretical and practical inputs to take on challenging careers in the field of corporate finance, international finance, merchant banking, capital and money markets, portfolio management, investment advisory services, credit rating, venture capital, forex advisory services and so on. Graduates in any discipline with at least 50 per cent marks are eligible for admission to MFC. The selection is based on a national-level admission test and interview. Detailed information can be obtained from the web site www.mfc.edu.

Madurai Kamaraj University, Palkalai Nagar, Madurai; Punjab University, Patiala; Punjab University, Chandigragh; University of Lucknow; Kurukshetra University, Haryana; Himachal Pradesh

University Shimla; Aligrah Muslim University, Aligarh are some of the universities that offer MFC courses in India.

Logistics management

Logistics is the management of supply chain. A logistician is a professional who works in the filed of logistics management, controlling the flow of goods, services, energy and resources. MBA and PG diploma level courses are available in the logistics management. Meritorious graduates in any discipline can seek admission. The objective of MBA logistics management is to train graduates for leadership position in logistics management and manufacturing and service operations management in the global market place.

Students can look for jobs as logistics or supply chain managers, consultants and analysts. They

should have communication and analytical skills dedication, team spirit, and computer knowledge. Indian Martine University, Chennai, K. J. Somaiya Institute of Management Studies and Research, Mumbai; Institute of Business Studies and Research Navimumbai; Symbosis Institute of International Business, Pune are few among the institutes offering postgraduate study facilities in this discipline.

Port and shipping management

MBA programme in port and shipping management is highly job-oriented. The Indian Martine University under Government of India offers MBA degree course in port and shipping management at its Chennai and Kochi campuses. The entry qualification is a Bachelor’s degree in any discipline with at least 50 per cent marks. The selection is based on entrance test, group discussion and interview. Web site: www.imu.tn.nic.in.

Narottam Morarjee Institute of Shipping, Mumbai, offers PG diploma in shipping management for graduates. Web site: www.nmis.net.

HRM

Human Resource Management (HRM) is one of the specialisation available for MBA/ postgraduate level management programmes. It deals with key factors in industrial relations, human resource planning, human resource development, advanced industrial relations training and development, wage and salary administration, guidance and conselling.

Human resource management also involves recruiting personnel and their training and handling union management relations. HRM specialisation is available in almost all business schools/

university departments/ institutes in India. Those who obtain MBA (HR) can find jobs as HR managers or HR executives.

Health care management

The health care services sector requires professionally-trained manpower to mange multi-specialty hospitals and medical facilities. The most suitable academic programmes in this field are MBA hospital and health care management and Master’s degree in hospital or health administration. Meritorious graduates in any discipline are eligible for admission.

The Department of Management Studies of Madurai Kamaraj University offers MBA hospital administration. Symbosis Institute of Health Sciences, Pune, conducts MBA in hospital and health care management course.

Manipal University offers an MBA course in hospital administration and health care management. The Tata Institute of Social Sciences, Mumbai; Department of Commerce and Management Studies, University of Calicut; School of Medical Education under Mahatma Gandhi University, Kottayam; Amrita School of Arts and Science, Kochi being offered Master of hospital/ health administration courses.

CA, ICWAI, CS

The details about chartered accountancy courses and examination can be had from the web site www.icai.org. Aspirants of cost and works accountancy should get details from the web site www.icwai.org and company secretaryship course details can be collected from the web site www.icsi.edu.

Courtesy to The Hindu news paper

Learning English Language

2011-09-25T20:35:00.000-07:00

The mantra for effective learning of the English language is to adapt the content module wherein cognitive academic language proficiency is combined with basic informative communication skills.

College students who can reproduce excerpts from Shakespeare but cringe at the idea of carrying a simple conversation in English? Graduates from various disciplines sporting seventy plus scores in English but struggling to frame simple questions?

All is not what it seems when it comes to language, as marks are poor indicators of competency in language. We may have moved from mere textbook reading to assignments, seminars and viva-voce in teaching the English language in our colleges and universities but how many students can use the language in real-life situations?

CONTROLLED CHAOS

A recent workshop on best practices in English language teaching organised by the U.S Consulate General in Tiruchi for college teachers brought to light that English language teaching in our classrooms focuses more on ‘learning' the language rather than ‘acquiring' language skills. For the latter to materialise, the language must be used as much as it is heard as senior English language fellow Mary Kay Seales put it. “A noisy classroom is a good classroom as you cannot be quiet in a language class – you have to practice what you learn. I call it controlled chaos- it might be chaotic- but there's a lot of learning happening.” When lecturers from various colleges were asked to articulate their goals of language teaching, it was clear they wanted their students to be proficient in academic and conversational English alike. Ms. Seales was quick to agree. “I come across many students with high TOEFL scores who find it difficult to have a proper conversation with me or understand what I'm saying.” She attributes this to heavy emphasis on a single area like grammar. The mantra is to combine Cognitive Academic Language Proficiency (CALP) with Basic Informative Communication Skills (BICS). But how? Content module is the proposed solution— a student-centred teaching method where teachers are facilitators and students active learners.

CONTENT MODULES

Content modules are what Seales likes to describe as ‘task backwards approach' where teachers pick a theme and work backwards to teach skills. Here the contemporary topic or issue is the primary focus and skills are inevitably acquired while exploring the topic through diverse activities.

“Content modules are fun for both students and teachers. It is like killing two birds with one stone- students acquire language competency and concurrently become more aware of the world.” Choosing environment as the sample module, she explained how the module becomes a vehicle for skill acquisition. From asking students to conduct polls and interviews to playing a game of ‘recycling bingo' and collecting famous quotes, listening, writing, reading and speaking skills are developed along with critical thinking, research and team building skills. “It is great fun and good language at once. There is natural acquisition rather than learning.” Teachers can move on to include appreciation of literature by introducing poems on nature and ignite student's creativity by asking them to pen their own poems. Interest in current issues can be generated by looking up news stories and social responsibility can be instilled by getting them to notice their immediate neighbourhood and come up with ways to clean it.

Content modules require resourcefulness on part of the teacher to design modules, tweaking them based on student feedback. Initial attempts may fail but the concept works in the longer run as every student feels involved. “Everybody gets their voice heard and feels their work is valued.” Modules can be designed around music, books and plays. A simple task of translating a favourite vernacular song into English and narrating the story behind it can develop a host of skills and make it interesting for students. While some Indian teachers may consider content modules as impractical in classrooms where language competency is sacrificed at the altar of examinations, Seales reassures that examination perspectives can be creatively incorporated into modules that can be worked around the syllabus.

Taken from Hindu daily

Learning tips & Exam tips

2011-09-19T07:46:00.000-07:00

Things to be remembered while writing examination

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CRACKING CIVIL SERVICE

2011-09-18T09:50:00.000-07:00

CIVIL SERVICE

Current affairs holds the key

GET YOUR BASICS RIGHT: The candidates who score more than 300 in the General Studies papers are those with excellent understanding of the subjects at the secondary and higher secondary school level.

Comprehensive study of topics plus being up-to-date with events of the day are crucial to cracking the Civil Services Main exam, say experts.

The Civil Services (Main) Examination 2011 is just a few weeks away. Over the years, there has been a rise in preparation awareness among civil service aspirants, but this coveted exam continues to throw a surprise element calling for newer strategies.

The question papers in recent years have clearly shown that the Union Public Service Commission (UPSC) seems to be determined to select those aspirants who are able to cover most of the topics in the syllabus with focus on current affairs.

The number of questions in the General Studies question papers has been doubled from 30 to 60, says P.S. Ravindran, director, Vajiram and Ravi Institute for IAS Examination, New Delhi. “As UPSC covers a large number of areas, General Studies preparation should be comprehensive,” he says. He stressed the need to score more than 320 marks in both the optional subjects as scoring in the General Studies has become more challenging.

A sizeable number of candidates in the previous mains examination were not able to score more than 270 out of 600 in the General Studies papers.

Many questions pertaining to current affairs of the month of October 2010 were unexpected and candidates found it tough to handle them in the previous mains.

Aspirants who were able to read at least two broadsheet newspapers such as The Hindu regularly were able to answer those questions. “Reading of two newspapers and Frontline is necessary. Questions based on less prominent news is also being asked,” says Mr. Ravindran.

Instead of reading several study materials, candidates are advised to select two source materials and concentrate on that with four rounds of quick revision.

A thorough preparation of topics covered in statistics and Indian Economy is crucial for a high score. The questions would cover Indian economy and issues relating to planning, mobilisation of resources, growth, development and employment.

Issues arising from the social and economic exclusion of large sections from the benefits of development, economic and trade issues such as foreign trade, foreign investment, economic and diplomacy issues relating to oil, gas and energy flows, the role and functions of IMF, World Bank and WTO which influence India's economic interaction with other countries and international institutions are important.

The candidates who score more than 300 in the General Studies papers are those with excellent understanding of the subjects at the secondary and higher secondary school level. They do not require any specialised study in any of the subjects for the General Studies. NCERT books of history, geography, polity, economy and statistics continue to be useful for revising the syllabus for the main examination.

IGNOU materials on optional subjects could be used for understanding the basic concepts for the General Studies and the optional subjects.

The Civil Services Aptitude Test (CSAT) this year had 14 questions on current affairs of May 2011. Over 70 questions in the CSAT were related to current affairs. This trend is likely to continue in the civil services main examination too.

“Many first-timers have cleared the prelims. So presentation of answers will be more important,” says Ganesa Subramanian, Director, Ganesh's IAS. Questions pertaining to the celebration of the 150 years of existence of the Comptroller and Auditor General of India, diamond jubilee celebrations of the Election Commission of India, Union Budget, Constituent Assembly and Reserve Bank of India may be of significance, he says.

Current affairs based on newspaper reports from September 2010 to October 2011 are the key areas. The candidates should be able to think and formulate views based on their subject knowledge based primarily on NCERT material.

Last year, questions on news covered in the period between October 1 and 15 took candidates by surprise.

More surprises may be in store for them this year. UPSC is expected to continue testing the analytical mindset of candidates in this main exam too. Environment, ecology, biodiversity and climate change may be prominent areas.

Reading editorials of newspapers has been found helpful for Essay paper and for answering questions on polity and social issues. Economic Survey and publications such as Yojana may be useful. Lok Sabha channel debates may throw light on social issues. Weekly group discussions or joint study with other candidates would enrich the understanding of key areas.

article taken from The Hindu daily

Central Govt. plans to introduce Rs.10 - plastic notes

2011-08-27T21:04:00.000-07:00

The government of India said it has decided to introduce 100 crore polymer bank notes in denomination of Rs 10 on trial basis.

It will be on field trial basis at five locations in the country, Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
"A final decision will be taken depending on the results of the field trial," he said.
The Reserve Bank had floated a global tender for introduction of 100 crore plastic currency in 2009.
The polymer notes were first introduced in Australia to safeguard against counterfeiting of currency.
Besides Australia, other countries which have introduced plastic notes include New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam

Follow your passion

2011-08-27T20:49:00.000-07:00

Don't give in to social pressure and marketing tricks; pursue the career that you like best.

Though it is a slow turning tide, the mad rush for engineering and medical seats is declining. Many who were interested in the arts, humanities and commerce were forced into science streams once they completed Std X, or by then were irrecoverably convinced that the ultimate aim in their lives is to be an engineer or doctor.

Then came the MBA boom, do any U.G. course— Bio-technology, Computer Science, Mass Communication, Engineering—it doesn't really matter, but after that an MBA in ‘something' is sure to raise your ‘value in the job market'. These trends have made education a strategy to top the pay roll and the interests and aptitude of the students are not given a thought.

Not just a job

Passing the exams and getting a job in these fields might be easy, but many find it difficult to continue in the field. The increasing number of engineering, MBBS and MBA graduates, choosing professions like photography, writing, journalism and designing, is a proof for this.

“Basically the prestige and financial security attracts many to courses like engineering. Very few take it up with real interest and rarely do they enter jobs in their field of specialisation; most of them end up in the IT field. I was not interested in the job and so quit it after a year,” says an engineering graduate who took up journalism as his profession.

Those who decide to follow their passion and dare to tread the less travelled paths mostly go through a tough time convincing their parents, friends and relatives. Nandhana V., 25-year-old photographer and editor, says, “My father and older sister asked me to go for Chartered Accountancy because they thought it has good scope for a girl. You don't have to run around, but sit at a place and clients will come to you. So I joined CA. But listening to my lecturers talk about money all the time and, thinking about their lives, I decided that I don't want to become like them. I wanted to do something through which I could express my creativity and not just have money and accounts in my life. Actually what my dad decided is good in terms of comfort and economic security, but my heart was not in that. When I explained this and discontinued the course, my parents understood and supported me.”

Support from parents and friends is an important factor. Arun Kumar, a 23-year-old Assistant Film Editor, says, “I feel lucky to have such free-to-go parents. They let me go ahead with my decision to study Visual Communication and helped me in getting more information about the course. My brother also lent a helping hand. My friends in school thought that I had gone crazy. Few relatives still ask me, “We still don't get this... why did you chose this field?” Popular opinion and peer pressure also influence students to go for the most preferred courses. “One of my friends decided to do MBA because many of her friends were doing it and she thought it is cool and prestigious,” says Nanthana.

Wrong attitude

The general attitude towards pure science, arts and humanities is still not very encouraging. According to Nirmal Roy, a research scholar in Economics, there are many misconceptions about streams like economics, people are not aware of the opportunities, especially in rural areas. Even though many are interested in the field, for many reasons including pressure from parents, they opt for other courses. With a post graduation in economics you could find well-paid jobs like financial analysts, academicians, risk managers, research and data collection. If you get into research it will open up more opportunities. Many people don't know that there are places that offer fellowships in economics even at M.A level. But, now people prefer to get into jobs soon and no one has the patience to do P.G. and continue research.

Shashikala, a psychology teacher, says that not many people prefer this field, especially we could find very few boys taking up this course. “There is a misconception that the course is very simple and it's just common sense. Though it is not a lucrative field you could find a job as counsellor, teacher, or choose to train under a mentor and later open a clinic of your own. Many specialise in Psychometric study, a trend that is catching up now. Some people prefer to go for social work after this which will give them more job opportunities.”

Choose right

It is true that there are a number of innovative and unconventional courses available now, but a good understanding of the field and opportunities available is essential before opting for them.

There are many courses that are marketed as upcoming and lucrative, but after completing the courses the students are at a loss when they realise that there are very little opportunities in the field or the pay is way below their expectation.

Jinshad who has done a course in Lift Technology and Safety Engineering said that he had to resign because of financial problems. “Though, a few manage to find good jobs, there are very few options in the field and the pay is not as expected,” he said.

V.Uma who has completed a Diploma in Chemical Engineering says that very few girls had opted for the course, but she decided to pursue it. After completing the course she realised that most companies were not willing to take women candidates in the field and working in dyeing units and cement factories is hazardous to the health as well

V.S.Arun Kumar, Assistant Film editor

On field: It is an open field. Film making deals with lot of creativity, whereas film editing requires technical knowledge as well. There is no proper working time, sometimes we spend days sitting inside the editing suite. You have to put in a lot of hard work. And the worst deal is the pay; it will be very less in the beginning. You have to keep an open mind towards work. I worked for a movie, but wasn't paid a penny. But while joining itself they had told me not to expect any salary for a year or two. This is how the industry works. So you should make up your mind before entering this filed. Tough life guaranteed. People are slowly getting to know about opportunities in the field, the competition is high now and only the best can survive.

Where to study: There are many private institutes that offer editing courses. There are many film schools in our country like FTII Pune, L.V.Prasad Film and Television Academy, Chennai, Whistling Woods International and Tharamani MGR Film Institute, Chennai.

What I've learnt: One thing that I have learnt being in the filed is wherever you study, all that matters is your portfolio. Even if you don't go to any film school, but have a nice portfolio then you will be soon assisting somebody. The percentage of marks scored is the last thing they consider. Good communication skills, out of the box thinking and knowledge about the work are the basic requirements. Internship is also one very important factor in shaping your career. There are film editors, ad agencies, production houses, PR firms that offer internships.

Hari Narayanan, B.FA. Professional Photography, Brooks University, California

My decision: Photography has always been my passion. I was looking for good courses in photography, and Light and Life Academy(LLA), Ooty, looked interesting, but then they had only one year courses. I didn't want to learn just the basics but to do an intense course to master the art of photography, so, the next option was the Brooks Institute, where Iqbal Mohamed, Atul Kasbekar, Dilip Bhatia and many other famous photographers in India had gone to.

Where to study: The best course in India is LLA's one year photography programme. They have the finest range of experienced faculty.

Rare choices

Design: Graduate Diploma Programme in Design (GDPD) in National Institute of Design (http://www.nid.edu/) offered in:

Industrial Design: Product Design, Furniture & Interior Design, Ceramic & Glass Design

Communication Design: Graphic Design, Animation Film Design, Film & Video Communication, Exhibition (Spatial) Design.

Textile, Apparel And Lifestyle Design: Textile Design

Post-Graduate Diploma Programme In Design: 17 design programmes including Animation Film Design, Film & Video Communication and Transportation & Automobile Design.

Theatre: National School of Drama(http://nsd.gov.in/) : Three-year full-time Diploma Course for entrants intending to make theatre their profession.

Dr. Babasaheb Ambedkar Marathwada University, University of Mysore; Faculty of Fine Arts, Rabindra Bharati University;University of Rajasthan, Gandhi Nagar, Jaipur; Sambalpur University, Jyoti Vihar, Burla; Faculty of Performing Arts, M.S. University of Baroda, Vadodara; Pondicherry University, Kalapet, Pondicherry; Osmania University, Hyderabad; National School of Drama, Bahawalpur; Bhartendu Academy of Dramatic Arts (autonomous Training Institute, Deptt. of Culture) Satyajit Ray Film & Television Institute.

Archaeology and heritage: Master in Archaeology and Heritage Management, Master in Conservation, Preservation and Heritage Management and P. G. Diploma in Conservation, Preservation and Heritage Management at the Delhi Institute of Heritage Research and Management (http://dihrm.delhigovt.nic.in/).

Environmental Science : Pune University, Jawaharal Nehru University, Delhi; Anna University, Guindy; University of Madras, Chennai; Tamil Nadu GD Agricultural University, Coimbatore; Cochin University of Science and Technology, Kochi.

Msc. Wild Life Biology & Conservation: National Centre for Biological Science , G.K.V.K Campus, Hebbal.

Postgraduate program Astrophysics & Radio Astronomy: National Centre for Radio Astrophysics, Pune

Planning and Architecture: Courses — B.Arch, Bachelor of Planning, M.Arch, Master of Planning, Master of Building Engineering and Management, Master of Landscape Architectur

Companies look for leadership traits

2011-08-27T20:44:00.000-07:00

Students not just falter only in communication skills but majority lack knowledge in their core subjects, say experts

At 23, athul, a graduate in computer science engineering, from a reputed private engineering college, finds himself at crossroads. He could not get into a company via the campus drives and neither has he had the inclination for higher studies. His academic track record is impressive, but he says that he faltered in the interviews due to lack of good communication skills.

A recent survey by NASSCOM says that only 25 per cent of the students churned out from the numerous engineering colleges are readily employable. While at the same time, China is scoring ahead, ticking at almost 85 per cent on the employability quotient.

It is not just that the students falter only in the arena of communication skills, majority of them lack knowledge in their core subjects, be it mechanical engineering or computer science engineering, says the Centre Head of Mahindra Satyam Ravi Eswarapu. “Companies look for certain skills, and the skill sets differ from company to company. Companies like Google and Yahoo may look for skills in core subject areas, whereas companies like Infosys, Wipro or for that matter Mahindra Satyam might look for graduates who are okay with the subjects but are good in communication skills. Whatever may be the matter, a majority of the students lack the requisite skill sets,” says he.

IT scenario

Despite the depressing atmosphere in Europe, US lowering its dependency on India and slashing its billing rates and competitors like China, Philippines and Mexico catching up fast – The IT industry is growing and will grow. Ravi points out that the domestic sector will play a major role in the coming years. He says that there is no dearth in quantity, but the quality is very low. “The percentage of entry level hiring is steady and will be growing, but at present many of the companies are switching on to low cost alternatives such as B.Sc. (computer science). The idea is, when the same work can be extracted from a B.Sc. graduate, why invest on hiring an engineer and spending the same amount of money on training,” he says.

It is estimated that IT and ITES companies in India spend millions on training for the entry level entrants.

Skill sets

The problem of skill sets is not very pertinent with tier-I institutes, it is more relevant and prevalent in tier II and III institutes. Considering engineering entrants in the IT sector, skill sets can be divided into five categories- technology, process, project management, soft skills and academic excellence. When it comes to technology most of the IT companies come with the assumption that the candidates would have programming knowledge of C, C++, Java and HTML, Database Management System, Data Structures and Algorithms.

The companies also look for candidates who have the basic understanding of software engineering, business and system requirements management, software design, software testing, software quality management, software configuration management and software reverse engineering.

The companies feel that the candidates should have the knowledge of project management concepts.

Knowledge of English language, both in oral and written format, is a must. Further companies look for leadership traits, business etiquette, team player features, attitude, passion towards work and meeting etiquette.

Most of the HR managers test the candidates grip over area of specialisation, understanding of mathematics and statistics and project work.

“Project work plays and important role in the recruitment of a candidate and students should not take project work lightly. More than the project that one has done, the recruiters look for the comment given the assessor,” points out Ravi Eswarapu.

Principal of Pydah College of Engineering and Technology R.P. Das adds, “project work is an integral part of the engineering study. And it is disheartening to note that students do not pay any interest. It has already been found out that there are many hubs that sell project works to students for a handsome fee. Neither this practice nor the ‘cut and paste' culture are a healthy trend. And that is one reason why we have introduced the idea of doing projects within the campus and we give all support, including mentorship,” says Prof. Das.

Ravi Eswarapu feels that the skill gap can be reduced only by the institutes and at the institutes. “Most of the institutes do organise some programmes but they turn out to be ineffective. The institutes should not take it up as ‘one time' programme. They should start a well-defined programme from the second year itself and should combine it with the normal academic routine. The programmes should be designed close to reality and targets should be set. A barometer should be in place to measure the progress,” says he.

Courtesy : The Hindu newspaper

company secretaryship - course

2011-08-27T08:24:00.000-07:00

Company secretary course and prospects

A Company Secretary is a professional like a Doctor, Engineer or Chartered Accountant.The major role of a Company Secretary is to ensure that whether the Company complies with all applicable laws and endeavours. A Company Secretary is also required to give expert advice to companies on matters of Company Law, FEMA, Corporate Tax and issue of shares. For that reason a Company Secretary is having a high esteem within and outside the organizations.

As per the Companies Act , a company with minimum paid up capital of Rs. 5 crores or more is required to appoint a whole time Company Secretary . The Company Secretary so appointed will be a noteable personnel in the company. The Company Secretary plays a vital role in announcing meetings of the board of directors and share holders and implementing decisions made in the meetings. Moreover , the Company Secretary acts as a vital link between the board of directors , shareholders and government and the general public.

In modern age, Company Secretary means a person having superior authority and act as a link in coordinating all the factors in an organization. Being a professional , all the members in an organization keeps an eye watch on him for his advices and suggestions .

Institute of Company Secretary

The Institute of Company Secretaries of India was established in the year 1980 under an act of Parliament. Before the Act, the institute was an organization established under Section 25 of the Companies Act . With the implementation of the Company Secretaries Act , 1960, the Institute became the ultimate authority to develop and regulate the profession. The Institute is headquartered in New Delhi with four regional offices in Delhi , Calcutta, Mumbai and Chennai.

The Institute also has more than 70 chapters in different cities . In Kerala, the chapter offices are at Trivandrum , Ernakulam, Trissur, Palakkad and Kozhikode. This institute conducts the company secretary exams in 3 stages – Foundation, Executive and Professional. The membership in the Institute (ACS) can be gained after passing the examination and completing the requisite practical training . The course can be pursued by non-graduates, employees, women and those who are pursuing other courses.

The content of the course

The examination conducted by the Institute should be passed to become a Company Secretary . A smart candidate can pass the examination within three years. The exams are conducted in three stages: (1) Foundation (2) Executive (3) Professional. A candidate with Plus Two or equal qualification can join the foundation course at any time. The candidates registered before March 31 can write the exams in December and those registering before September 30 can write the exams in June next year. Plus Two candidates can pursue the course by applying for temporary registration. But the exams should be passed within 6 months from the date of registration and the evidence should be provided to the Institute.The subjects are Business Law, Management, Accountancy and Economics. In order to pass the exam 40% marks in each subject and 50% aggregate should be obtained.

After completing the Foundation, the second stage ie; Executive Programme can be pursued. Graduates, non graduates and those who have completed the final of Chartered Accountant and Cost Accountant can register as a student at any time without writing foundation exam and minimum mark stipulations. But non Commerce graduates and post graduates will have to successfully complete the Foundation course subjects by oral or postal tuition. Candidates registered before 31st August 2010 and can write all the subjects of Executive Programme in June 2011. The subjects in this stage are General laws, Taxation, Accountancy, Company law, Economic Law and Labour law. After passing these exams, the candidate can pursue Professional programme. The requisite practical training insisted by the Institute should be completed along with this.

Job Opportunities

The question as to which is the professional course where the job opportunities are high. The answer is Company Secretary course. The Company Secretaries are in demand even during recession. The reason for this is the ever expanding companies and shortage of Company Secretaries. In India , there are about 10 lakh companies but the company secretaries are below 20000. This itself shows the job opportunity for company secretaries. Big corporates are offering lakhs of rupees as salary for candidates who have passed the course and completed requisite practical training .

The job opportunities for company secretaries are still very high . The company secretaries are considered in various superior designations in the central government. The Indian Bankers Association motivates the candidates who have passed the Company Secretaryship by promoting to office cadre in addition to increment. Moreover various central government and state government organizations are appointing company secretaries. Universities and educational institutions appoint company secretaries as professors and directors. In addition to the position as a Company Secretary, he also acts as a member of Director Board , Vice President or CEO in some companies.

Area of Practice

Candidates who have passed company secretary course can practise independently by obtaining certificate of practice from the institute . As per the Companies Act , a company with paid up capital of 10 lakhs to 5 crores is compulsorily required to conduct compliance audit every year by a practicing Company Secretary. Through this audit, the Company Secretary has to verify whether the company complies with all legal provisions or not. The documents to be filed by a company to the central government as per law are to be certified by a practising professional . Moreover a Company Secretary is considered as an expert in Foreign Exchange Laws, SEBI Laws, Labour laws, Pollution Control Laws, Banking, Insurance, International Laws, Corporate Taxation etc.

The practising area of the company secretaries will further strengthen with the passing of the Companies bill which is under consideration of the Parliament.

Other details

The prospectus with detailed information and application form is available at the Chapter office of the Institute. The fees for Foundation is Rs 3600, for Executive Programme Rs 6500 and for Professional Programme Rs 7500. The course fees should be sent with the application form in the form of Demand Draft favouring the “The Institute of Company Secretaries of India” payable at New Delhi. The candidates handing over the application form and demand draft at the Institute’s office or Chapter can obtain temporary registration and study materials immediately. 50% discount in fees is available for SC/ST and physically handicapped candidates. In Kerala the examination centres are at Trivandrum , Kochi and Kozhikode

Transactions using mobile phone

2011-08-13T22:20:00.000-07:00

ഇനി കാര്‍ഡ് വേണ്ട ഫോണ്‍ മതി

സാന്‍ഫ്രാന്‍സിസ്‌ക്കോ: കാര്‍ഡുപയോഗിച്ച് പണമടയ്ക്കാനുള്ള സൗകര്യം തന്നെയായിരുന്നു ഷോപ്പിങ് രംഗത്ത് ഈയടുത്ത കാലത്തുണ്ടായ ഏറ്റവും വലിയ വിപ്ലവം. ആവശ്യത്തിലേറെ പണം കൈയില്‍ കൊണ്ടു നടക്കേണ്ടതില്ലെന്ന് വന്നതോടെ കാര്‍ഡില്ലാത്തവര്‍ ചുരുക്കമായി. എന്നാല്‍, ഈ രംഗത്ത് പുതിയൊരു പരീക്ഷണത്തിനൊരുങ്ങുകയാണ്
ഇന്റര്‍നെറ്റ് സെര്‍ച്ച് എന്‍ജിന്‍ കമ്പനിയായ ഗൂഗിള്‍.

ഷോപ്പിങ് നടത്തുമ്പോള്‍ കാര്‍ഡിന് പകരം തങ്ങളുടെ ആന്‍ഡ്രോയിഡ് മൊബൈല്‍ഫോണ്‍ ഉപയോഗിച്ച് പണമടയ്ക്കാനുള്ള സങ്കേതമാണ് ഗൂഗിളിന്റെ പണിപ്പുരയില്‍ ഒരുങ്ങുന്നത്. ഇതിനായി ഗൂഗിള്‍ പ്രമുഖ സാമ്പത്തിക സേവനദാതാക്കളായ സിറ്റി ഗ്രൂപ്പുമായും മാസ്റ്റര്‍കാര്‍ഡുമായും യോജിച്ച് പ്രവര്‍ത്തിക്കാനൊരുങ്ങുകയാണെന്നും റിപ്പോര്‍ട്ടുകള്‍ സൂചിപ്പിക്കുന്നു. ഇത് സംബന്ധിച്ച് കമ്പനികള്‍ ഇതുവരെ പ്രതികരിച്ചിട്ടില്ല.

തുടക്കത്തില്‍ സിറ്റി ഗ്രൂപ്പിന്റെ ഉപഭോക്താക്കള്‍ക്കായിരിക്കും സേവനം ലഭ്യമാവുക. ഗുഗിളിന്റെ ആന്‍ഡ്രോയിഡ് ഫോണുകളിലെ ഒരു മോഡലായിരിക്കും സേവനങ്ങള്‍ക്ക് തിരഞ്ഞെടുക്കുക. റീട്ടെയില്‍ ഷോപ്പുകള്‍ക്ക് ഉപഭോക്താക്കളെ സംബന്ധിച്ച് കൂടുതല്‍ വിവരങ്ങള്‍ ലഭ്യമാവുമെന്നതാണ് ഈ സേവനത്തിന്റെ പ്രത്യേകത. അതുകൊണ്ട് തന്നെ പിന്നീട് പുതിയ ഓഫറുകള്‍ സംബന്ധിച്ചുള്ള കാര്യങ്ങളും മറ്റും ഇവര്‍ക്ക് എഴുപ്പത്തില്‍ അയച്ചുകൊടുക്കാനും പുതിയ സേവനം വഴിയൊരുക്കും. കൂടാതെ ഉപഭോക്താക്കള്‍ക്ക് ക്രെഡിറ്റ് കാര്‍ഡും ഫോണും ഒരുമിച്ച് കൊണ്ടു നടക്കേണ്ട ബുദ്ധിമുട്ടും ഒഴിവാകും.

courtesy : Mathrubhumi

SBI introduces paper less banking

2011-08-07T06:03:00.000-07:00

ഇനി 'പേപ്പര്‍രഹിത' ബാങ്കിങ്‌

അടുത്ത തവണ ബാങ്കില്‍ പോകുമ്പോള്‍ ചിലപ്പോള്‍, പേ-ഇന്‍-സ്ലിപ്പും വിത്ത്‌ഡ്രോവല്‍ ഫോമും റെമിറ്റന്‍സ് ഫോമുമൊന്നും കണ്ടെന്നു വരില്ല. രാജ്യത്തെ ഏറ്റവും വലിയ ബാങ്കായ സ്‌റ്റേറ്റ് ബാങ്ക് ഓഫ് ഇന്ത്യ, 'ദി ഗ്രീന്‍ ചാനല്‍' എന്ന പേരില്‍ പേപ്പര്‍രഹിത ബാങ്കിങ് സൗകര്യം ആരംഭിച്ചു. ഇതോടെ, ക്യൂ നില്‍ക്കാതെ തന്നെ ഇടപാടുകാര്‍ക്ക് ഇടപാട് നടത്തി മടങ്ങാം.

എടിഎം/ഡെബിറ്റ് കാര്‍ഡ് ഉപയോഗിച്ചാണ് എസ്ബിഐ പേപ്പര്‍ലെസ് ബാങ്കിങ് ഒരുക്കുന്നത്. ശാഖകളില്‍ സ്ഥാപിച്ചിരിക്കുന്ന ട്രാന്‍സാക്ഷന്‍ പ്രോസസിങ് ഡിവൈസില്‍ (ടിപിഡി) കാര്‍ഡ് സൈ്വപ്പ് ചെയ്യുക വഴിയാണ് ഇത് സാധ്യമാകുന്നത്. കടകളിലും മറ്റു വാണിജ്യ കേന്ദ്രങ്ങളിലും സ്ഥാപിച്ചിരിക്കുന്ന പോയിന്റ് ഓഫ് സെയില്‍സ് (പിഒഎസ്) മെഷീന് സമാനമാണ് ഇത്. എന്നാല്‍ എടിഎം കൗണ്ടറുകളില്‍ നിന്ന് വ്യത്യസ്തവും. പണം നിക്ഷേപിക്കാനോ, ഫണ്ട് ട്രാന്‍സ്ഫര്‍ ചെയ്യാനോ നിലവില്‍ എടിഎമ്മുകള്‍ക്കാവില്ല. എന്നാല്‍ ടിപിഡിയില്‍ ഇത് സാധ്യമാണ്.

40,000 രൂപ വരെയുള്ള ഇടപാടുകള്‍ ഇത്തരത്തില്‍ നടത്താം. പണം നിക്ഷേപിക്കാനോ പിന്‍വലിക്കാനോ മറ്റൊരാള്‍ക്ക് ട്രാന്‍സ്ഫര്‍ ചെയ്യാനോ ഈ സൗകര്യം ലഭ്യമാണ്.

തുടക്കത്തില്‍ 5,000ത്തോളം ശാഖകളിലാണ് എസ്ബിഐ പുതിയ സേവനം ലഭ്യമാക്കുന്നത്. ഭാവിയില്‍ കൂടുതല്‍ ശാഖകളിലേക്ക് ഇത് വ്യാപിപ്പിക്കും. എസ്ബിഐയ്ക്ക് നിലവില്‍ 14,437 ശാഖകളാണുള്ളത്.

ഓരോ ശാഖയിലേയും മൊത്തം ഇടപാടിന്റെ 10 ശതമാനമെങ്കിലും ഗ്രീന്‍ ചാനല്‍ കൗണ്ടറുകള്‍ വഴിയാകുമെന്നാണ് ബാങ്ക് കണക്കാക്കുന്നത്. എടിഎമ്മുകളെക്കാള്‍ ചെലവ് കുറവാണെന്ന സവിശേഷതയുമുണ്ട്. ഒരു എടിഎം മെഷീന് ഏതാണ്ട് നാല് ലക്ഷം രൂപ വിലയുണ്ട്. എന്നാല്‍ ടിപിഡിക്ക് 7,000 രൂപ മാത്രമേയുള്ളൂ.

Courtesy: Mathrubhumi daily

New RBI guidelines to banks for ATM

2011-08-07T05:54:00.000-07:00

എടിഎം പരാതിപരിഹാരം വൈകിയാല്‍ 100 രൂപ

എടിഎം ഇടപാട് സംബന്ധിച്ച നിങ്ങള്‍ ഉന്നയിക്കുന്ന പരാതി ഏഴ് ദിവസങ്ങള്‍ക്കുള്ളില്‍ പരിഹരിച്ചില്ലെങ്കില്‍ പ്രസ്തുത ബാങ്ക് പ്രതിദിനം 100 രൂപ വെച്ച് നഷ്ടപരിഹാരം നല്‍കേണ്ടിവരും. റിസര്‍വ് ബാങ്കിന്റെ പുതിയ മാര്‍ഗ്ഗനിര്‍ദ്ദേശപ്രകാരമാണ് ഇത്. ജൂലായ് ഒന്ന് മുതല്‍ ഇത് പ്രാബല്യത്തിലായി.

അക്കൗണ്ടില്‍ നിന്ന് പണം കുറയുകയും എന്നാല്‍ അത് ലഭിക്കാതിരിക്കുകയും ചെയ്താല്‍ പരാതിപ്പെടാം. എടിഎമ്മില്‍ രേഖപ്പെടുത്തിയ തുകയെക്കാള്‍ കുറച്ചാണ് ലഭിക്കുന്നതെങ്കിലും പരാതി നല്‍കാം. തെറ്റായ ഡെബിറ്റിനും ഇത് ബാധകമാണ്.

പ്രശ്‌നമുണ്ടായി 30 ദിവസത്തിനുള്ള പ്രസ്തുത ബാങ്കില്‍ പരാതി നല്‍കിയാല്‍ മാത്രമേ നഷ്ടപരിഹാരം ലഭിക്കുകയുള്ളൂ. നിലവില്‍ എടിഎം സംബന്ധിച്ച പരാതികള്‍ പരിഹരിക്കാന്‍ 10 മുതല്‍ 20 ദിവസം വരെ എടുക്കുന്നുണ്ട്. പുതിയ നിയമം പ്രാബല്യത്തിലായതോടെ, നഷ്ടപരിഹാര ഇനത്തില്‍ വന്‍തുക ബാങ്കുകള്‍ക്ക് ചെലവാകും.

Courtesy: Mathrubhumi daily

Commerce Exhibition

2011-08-06T18:44:00.000-07:00

COMMERCE EXHIBITION

Commerce club has conducted an Exhibition in 2010. The exhibition was inaugurated by our PTA president Sri.K.Sundaran and our Principal G.Vincent presided over the function. Sri. Padmanabhan, Standing committee member- Education, of Perumatty panchayath, was present in the occasion.

Sri. K.Sundaran inaugurating the exhibition by lighting the lamp

Students of commerce stream - KKMHSS Vandithavalam

Sri.G.Vincent, Principal, K.K.M.S.S. adressing the students

Sri.Padmanabhan, Standing committee chairman - Education, Perumatty Grama Panchayath, lighting the lamp

Sri. G. Vincent Principal , K.K.M.H.S.S, Lighting the lamp

Ancient coin collection exhibited

Debit & Credit cards

A model ATM

Different application forms used in a bank

A show organized in the exhibition

Our teacher - Sri. Unnikrishnan, Hsst Economics

XII year accounting Notes

2011-08-01T18:47:00.000-07:00

Accounting for Partnership – Basic Concepts

A business can be organized in different forms.

Sole Proprietorship
Partnership
Company

The major limitations of Sole proprietorship form of business is

- Limited Capital

- Limited Managerial ability

- and Limited risk bearing capacity

Making business a partnership firm is one way to overcome the above limitations.

The basic accounting formalities to be followed in partnership accounting is similar to that of sole proprietorship business. Ie., the preparation of profit and loss A/c and Balance sheet. But it differs in the following areas.

Distribution of profits among the partners
Maintenance of capital accounts and
Regarding adjustments when the firm is reconstituted.

So the question what is a Partnership is relevant here!

Indian Partnership Act 1932 defines Partnership as “the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all”

The persons who have entered into partnership individually are known as partners and collectively as ‘Firm’.

Features:

To or more persons.

There must be at least 2 persons to form a partnership. Maximum limit is 10 for banking business and 20 for any other business.

Agreement between partners.

A partnership is always based on an agreement, without which there won’t be any partnership business. Agreement can be oral or written.

Business. The partnership business should be for carrying on some legal business

Sharing of profits. The agreement must be for sharing the profits of the

business. The ration in which the profits are to shared must be clearly stated in the partnership. In the absence of a ratio the profits will be shared equally.

Business must be carried on by all or any one of them acting for all.

Here the partnership is based on the concept of mutual agency relationship. Ie., a partner is both an agent( he can, by his acts, bind other partners) and a Principal(bound by the acts of other partners).

Partnership deed

A partnership agreement is formed by an agreement. This agreement can be oral or written. If it is written it is called Partnership Deed. But law doesn’t say that the agreement should be in the written form. But it is always advisable to be in the written form in order to avoid the future conflicts and confusions.

Assignment:

You along with your friends joined hands to form a partnership business. Prepare a partnership deed which contains all the details of your agreement.

Provision in the Act if there is no Partnership Deed or Deed is silent on the following aspects:

1. Profit sharing: The partners will share profits equally if there is no ratio for profit sharing is stated in the partnership deed irrespective of their capital contribution.

2. Interest on Capital: No interest on capital will be given to the partners if the Partnership deed is silent about it. Interest on capital will be given only out of profits but not out of losses even if the deed provides so.

3. Interest on Loan: Partners are entitled to interest @ 6 % per annum for the loan given by them to the firm, other than the capital. They are entitled to get this interest even if the firm in loss.

4. Interest on Drawings: No interest can be charged if the deed is silent is charged in this respect.

5. Remuneration to partners (salary): No partners are entitled to any salary or commission for participating in the business.

Partners Capital Accounts

All transactions relating to the partners are recorded in their respective capital accounts. There are 2 methods of maintaining capital accounts of partners.

1. Fluctuating Capital Method

2. Fixed Capital Method

Fluctuating Capital Method

Under this method only one capital account is maintained for each partner. All items affecting the partner’s accounts like interest on capital, drawings, interest on drawings, salary, commission, share of profit etc is recorded in this account.

Fixed Capital Method

Under this method 2 accounts are maintained for each partner.

Capital Account
Current Account

Capital account will remain fixed, unless some additional capital is introduced or some capital is withdrawn from the business. All other items such as interest on capital, drawings, interest on drawings, salary, commission, share of profit etc is recorded in the current accounts of partners. Here it should be noted that the current account balance will fluctuate year after year but the capital account will almost remain fixed.

Difference between Fluctuating capital method and fixed capital method

Sl.no	Fluctuating capital	Fixed capital
1	Only one a/c is maintained	Two a/c are maintained ie., Capital a/c and current a/c
2..	Fluctuates year after year	Capital a/c almost remains fixed, but current a/c will change
3.	All adjustments are done in this a/c. Ie., Interest on capital, interest on drawings, drawings, share of profit etc	All adjustments like Interest on capital, interest on drawings, drawings, share of profit etc are done in current account.
4.	Usually firm maintains their capital a/c under this method.	It should be specifically mentioned in the partnership deed to maintain this type of capital account

DISTRIBUTION OF PROFIT OR LOSS AMONG PARTNERS

The profit ascertained from profit and loss a/c is taken into another account named PROFIT AND APPROPRIATION ACCOUNT.

PROFIT AND APPROPRIATION ACCOUNT:

This is an extension of profit and loss account. All amounts due to partners and due from partners, transfer to reserve etc are recorded in this account. So PROFIT AND LOSS APPROPRIATION ACCOUNT is prepared to show how net profit is distributed among the partners. In this account net profit, interest on drawings etc is credited and salary, commission, interest on capital etc is debited. The balance available will be distributed among the partners in the agreed ratio.

Journal Entries:

For transfer of net profit:

Profit and loss A/c Dr

Profit and loss Appropriation A/c

For transfer of net loss:

Profit and loss Appropriation A/c Dr

Profit and loss A/c

Interest on capital:

Interest on capital A/c Dr

Partners Capital A/c

(Interest on capital provided in capital a/c)

Profit and loss Appropriation A/c Dr

Interest on capital

(Interest transferred to Profit and loss Appropriation A/c)

Partners salary:

Partner’s salary A/c Dr

Partner’s capital

(Salary due to a partner)

Profit and loss appropriation A/c Dr

Partner’s salary

(Salary transferred to profit and loss appropriation A/c)

Partners Commission:

Partners commission A/c Dr

Partner’s capital

(Commission due to a partner)

Profit and loss Appropriation A/c Dr

Partners Commission

(Commission transferred to profit and loss appropriation A/c)

Interest on drawings:

Partner’s capital A/c Dr

Interest on drawings

Interest on drawings A/c Dr

Profit and loss Appropriation A/c

Proforma of profit and loss account:

Profit and loss Appropriation A/c

Particulars	Amount	Particulars	Amount
Profit and Loss A/c(Net loss) Salary Commission Interest on capital Capital A/c(Profit)	Xxxx Xxxx Xxxx Xxxx xxxx	Profit and loss A/c (Net profit) Interest on drawings Capital accounts(Loss)	Xxxx Xxxx Xxxx
	xxxx		xxxxx

Calculation of Interest on Capital:

Interest on capital is generally calculated on the opening balance of partner’s capital accounts, if partnership deed provides for it. Calculation is done depending upon the amount and the duration (period).

For Eg:

Raju started business on 01/01/2008 with a capital of Rs.20000. If the accounts will be closed on 31/12/2008, then interest will be calculated for 1year.

Suppose he starts business only on 01/06/2008, then interest will be calculated for 6 months only, if the accounts are closed on 31/06/2008.

Interest on Drawings:

Interest on drawings may be charged if partnership deed provides for it. The interest is calculated for the period from date of withdrawal to date of closing.

Guarantee of profit to a partner:

Sometimes a new partner or existing partner is guaranteed a minimum amount as share of profit by other partners. The guaranteed partner is entitled to receive the guaranteed share or actual share whichever is higher. But if in any year if the actual profit is less than the guaranteed amount then the other partners must compensate the shortage.

purchasing shares through IPO

2011-08-01T18:32:00.000-07:00

Purchasing shares through IPO

ഒരു കമ്പനിയുടെ മൊത്തം മൂലധനത്തെ വിവിധ യൂണിറ്റുകളായി വിഭജിക്കുന്നതിന്റെ അടിസ്ഥാനത്തിലാണ് ഓഹരികള്‍ രൂപം കൊള്ളുന്നത്. ഇങ്ങനെ വിഭജിക്കപ്പെടുന്ന യൂണിറ്റുകള്‍ അഥവാ ഓഹരികള്‍ കൈവശം വെക്കുന്നതിന്റെ തോത് അനുസരിച്ചാണ് കമ്പനിയുടെ ഉടമസ്ഥാവകാശം നിര്‍ണയിക്കപ്പെടുന്നത്. ഉദാഹരണത്തിന് ഒരു കോടി ഓഹരികളുള്ള ഒരു കമ്പനിയുടെ 10 ലക്ഷം ഓഹരികള്‍ കൈവശം വെക്കുന്ന ഒരാള്‍ക്ക് കമ്പനിയില്‍ 10 ശതമാനം ഉടമസ്ഥാവകാശമാണുള്ളത്. ഒരു നിക്ഷേപകന്‍ ഓഹരികള്‍ വാങ്ങുന്നതിലൂടെ ആ കമ്പനിയുടെ ഉടമസ്ഥാവകാശമാണ് അയാള്‍ക്ക് ലഭിക്കുന്നത്.

കമ്പനികള്‍ അവയുടെ പ്രവര്‍ത്തനങ്ങള്‍ക്കായും ഭാവിപദ്ധതികള്‍ക്കായും പണം കണ്ടെത്തുന്നതിന് അവലംബിക്കുന്ന ഒരു മാര്‍ഗ്ഗമാണ് ഓഹരികള്‍ വില്‍ക്കുക എന്നത്. കമ്പനി നേരിട്ട് ഇത്തരത്തില്‍ ഓഹരികള്‍ വില്‍ക്കാറുണ്ട്. പൊതുജനങ്ങള്‍ക്ക് ഓഹരികള്‍ വില്‍ക്കുന്നതിനായി കമ്പനികള്‍ അവലംബിക്കുന്ന വേദിയാണ് ഓഹരി വിപണി അഥവാ സ്റ്റോക്ക് എക്‌സ്‌ചേഞ്ച്.

സ്‌റ്റോക്ക് എക്‌സ്‌ചേഞ്ചിലൂടെ ഒരു കമ്പനിയുടെ ഓഹരി ഇടപാടുകള്‍ ചെയ്യുന്നതിന് രണ്ട് ഘട്ടത്തിലുള്ള നടപടി ക്രമങ്ങളുണ്ട്. ആദ്യമായി കമ്പനി ചെയ്യേണ്ടത് പ്രാഥമിക വിപണിയിലെ നടപടിക്രമങ്ങള്‍ പൂര്‍ത്തിയാക്കുകയാണ്. അതിനു ശേഷമാണ് ദ്വിതീയ വിപണിയില്‍ ഓഹരിയുടെ വ്യാപാരം ആരംഭിക്കുന്നത്.

പ്രാഥമിക വിപണി
ഓഹരികള്‍ വില്‍ക്കുന്നതിലൂടെ ഫണ്ട് കണ്ടെത്താന്‍ ശ്രമിക്കുന്ന കമ്പനികള്‍, ഇതിനായി ബന്ധപ്പെട്ട അധികൃതരുടെ (സെബി) അനുമതി ലഭിച്ചതിനു ശേഷമുള്ള ആദ്യപടിയായി ഇനീഷ്യല്‍ പബ്ലിക് ഓഫറി (ഐപിഒ) ലൂടെ തങ്ങള്‍ നിശ്ചിത എണ്ണം ഓഹരികള്‍ വില്‍ക്കാന്‍ ഒരുങ്ങുന്നതായി പൊതു ജനങ്ങളെ അറിയിക്കുന്നു. ഐപിഒ വിപണിയെയാണ് പ്രാഥമിക വിപണി എന്ന് വിശേഷിപ്പിക്കുന്നത്.

ഐപിഒയിലൂടെ ഓഹരി വില്‍ക്കുന്ന കമ്പനി ഓഹരിക്ക് ഒരു നിശ്ചിത വില നിലവാരം നിശ്ചയിച്ചിരിക്കും. ഈ വില നിലവാരത്തിനുള്ളില്‍ നിന്നുകൊണ്ട് തനിക്ക് അനുയോജ്യമായ വിലയ്ക്ക് ഓഹരി വാങ്ങാനുള്ള സന്നദ്ധത നിക്ഷേപകന് കമ്പനിയെ അറിയിക്കാം. ഉദാഹരണത്തിന് ഒരു കമ്പനി ഐപിഒ വിലയായി നിശ്ചയിക്കുന്നത് 100-120 രൂപയാണെന്ന് കരുതുക. അനുയോജ്യമായ വില 110 രൂപയാണെന്ന് കരുതുന്ന നിക്ഷേകന് ആ വിലയ്ക്ക് താന്‍ ഓഹരി വാങ്ങാന്‍ തയാറാണെന്ന് ഐപിഒ അപേക്ഷയില്‍ വ്യക്തമാക്കാവുന്നതാണ്.

ഐപിഒക്ക് ലഭിക്കുന്ന പ്രതികരണത്തിന്റെ അടിസ്ഥാനത്തിലാണ് ഓഹരി അനുവദിക്കുന്നതിനുള്ള അന്തിമ വില നിശ്ചയിച്ചിക്കുന്നത്. നിക്ഷേപകരില്‍ നിന്നും നല്ല പ്രതികരണം കിട്ടുന്ന മിക്ക ഐപിഒകളിലും ഓഹരി വിലയായി നിശ്ചയിക്കുന്നത് പ്രൈസ് ബാന്റിലെ ഏറ്റവും ഉയര്‍ന്ന വിലയായിരിക്കും. കമ്പനി നിശ്ചയിച്ച വിലയ്ക്ക് ഓഹരി വാങ്ങാന്‍ അപേക്ഷയില്‍ സന്നദ്ധത പ്രകടിപ്പിച്ചിട്ടുള്ള നിക്ഷേപകര്‍ക്കു മാത്രമേ ഓഹരികള്‍ അനുവദിക്കുകയുള്ളൂ. കമ്പനി നിക്ഷേപകന് ഓഹരി നല്‍കുന്നതിനായി നിശ്ചയിക്കുന്ന വിലയെയാണ് ഇഷ്യു പ്രൈസ് എന്ന് പറയുന്നത്.

ഇഷ്യു പ്രൈസ് നിശ്ചയിക്കുകയും ഓഹരികള്‍ നിക്ഷേപകര്‍ക്ക് അനുവദിക്കുകയും ചെയ്താല്‍ പ്രാഥമിക വിപണിയിലെ നടപടി ക്രമങ്ങള്‍ പൂര്‍ത്തിയായി കഴിഞ്ഞു. ഇനിയാണ് ഓഹരി, ദ്വിതീയ വിപണിയില്‍ വ്യാപാരം ആരംഭിക്കുന്നത്. പ്രാഥമിക വിപണിയില്‍ അനുവദിക്കപ്പെട്ട ഓഹരികളുടെ വ്യാപാരം ദ്വീതിയ വിപണിയില്‍ ആരംഭിക്കുന്നത് നേരത്തെ നിശ്ചയിച്ച തീയതി അനുസരിച്ചായിരിക്കും. നിക്ഷേപകര്‍ക്ക് അനുവദിക്കപ്പെട്ട ഓഹരികള്‍ ഈ ദിവസം മുതല്‍ ദ്വീതിയ വിപണിയില്‍ വില്‍ക്കാനും വാങ്ങാനും സാധിക്കും.

ദ്വീതിയ വിപണിയുടെ നില അനുസരിച്ച് പ്രാഥമിക വിപണിയില്‍ അനുവദിക്കപ്പെട്ട ഓഹരികളുടെ വില ഉയരുകയോ താഴുകയോ ചെയ്യാം. ദ്വിതീയ വിപണിയില്‍ മുന്നേറ്റം നടക്കുന്ന ഘട്ടങ്ങളിലാണ് പൊതുവെ പ്രാഥമിക വിപണിയില്‍ നിന്ന് വാങ്ങിയ ഓഹരികളുടെ വില ഉയരുന്നത്. വിപണികാലാവസ്ഥ അനുകൂലമല്ലെങ്കില്‍ പ്രാഥമിക വിപണിയില്‍ നിശ്ചയിക്കപ്പെട്ടതിനേക്കാള്‍ താഴ്ന്ന വിലക്ക് ദ്വിതീയ വിപണിയില്‍ ഓഹരി വ്യാപാരം ചെയ്യപ്പെട്ടുവെന്നു വരാം.

ഐപിഒയിലൂടെ ഓഹരി വാങ്ങുമ്പോള്‍
പ്രാഥമിക വിപണിയില്‍ നിന്ന് ഓഹരികള്‍ വാങ്ങുന്ന ഒരു നിക്ഷേപകന്‍ ചില കാര്യങ്ങള്‍ പ്രത്യേകം ശ്രദ്ധിക്കേണ്ടത്. മികച്ച കമ്പനിയാണോ എന്നതാണ് ആദ്യത്തെ കാര്യം. കമ്പനി മികച്ചതാണെങ്കിലും ഓഫര്‍ വില ആകര്‍ഷകമാണെങ്കില്‍ മാത്രമേ പ്രാഥമിക വിപണി വഴി ഓഹരികള്‍ വാങ്ങുന്നതിന് ഒരുങ്ങാവൂ. ചെലവേറിയ ഐപിഒകളുമായി എത്തുന്ന കമ്പനികളുടെ ഓഹരികള്‍ കുറഞ്ഞ വിലക്ക് ദ്വിതീയ വിപണിയില്‍ നിന്ന് വാങ്ങുന്നതിന് അവസരം ലഭിച്ചുവെന്നുവരാം. അതിനാല്‍ ഐപിഒക്ക് അപേക്ഷിക്കുന്നതിന് മുമ്പ് വില ആകര്‍ഷകമാണോ എന്ന് വിലയിരുത്തുന്നതിന് വിദഗ്‌ധോപദേശം തേടുക. വിപണിയുടെ നില അനുകൂലമാണോ എന്ന് പരിശോധിക്കുകയാണ് മൂന്നാമത്തെ കാര്യം.

Courtesy to Mathrubhumi and sri, aravind

Inauguration

2011-06-25T22:45:00.000-07:00

Commerce club was inaugurated on 24th June, 2011, 2.00PM hours, by Sri. K.MOHANAN, AGM, South Indian Bank, by lighting the lamp. Sri. Sudeer.C, Principal-in-charge, presided over the function. The programme started with a prayer by Kum.Reshma, a student of commerce computer application batch, followed with a welcome speech by Sri. Arunkumar.C.H., HSST, Commerce. Prizes were distributed to 5 outgoing students of 2009-2011 batch, who have scored highest marks in March 2011 examinations fromCommerce stream.

A talk touching various aspects like - banking, motivation, skills, leadership qualities etc come up in talk given by respected chief guest Sri. Mohanan Sir. He talked in a very simple language and narrated a lot of stories for motivating the students.

Felicitation list included the following personalities:
Sri. Francis, Sr. Manager, South Indian Bank, Palakkad
Sri. Janardhanan, HSST, Hindi
Sri. A.Udayakumar, HSST, Economics
Sri. Leenamma Cherian, HSST Commerce
Sri. Unnikrishnan.U, HSST Economics

Sri. Sudha.J HSST Political Science
Sri. Reshmi, HSST, Commerce

All most all the teachers of K.K.M.H.S.S. Vandithavalam were present on the occasion.

Time constraint has allowed only a single cultural event - A beautiful song by Kum. Sanju Krishna.

Anjali - xii commerce student welcoming our chief guest- Sri. Mohanan AGM, SIB

A welcome to the guest -
Sri. Franacis, Sr.Manager, SIB

welcoming our Principal in charge- Sri.C.Sudeer

Our beloved teacher -Sri.Leenamma cherian ia being welcomed

Sri.Janardhanan Sir, Our Senior hindi teacher is greeted on the occassion

Sri.Mohanan Sir, Inaugurating the club by lighting the lamp

Sri.Sreedevi.C, who scored highest marks from commerce stream in HSE XII year examination is being congradulated on the occassion by Sri.Mohanan Sir

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Our teachers - Sri. Hema.C., Sudha.S, Lola.C.B, Padmini.U.P, Reshmi.R

Sri. Udayan sir, along with students, parents and teachers

Sri.Arunkumar , on his Welcome speech

Parents along with students

The programme come to a close with a vote of thanks by Kum. Preethi, followed by National Anthem by the students.