Business Studies

Business Studies

THE CLERICAL STAFF

THE CLERICAL STAFF The office staff/clerical officer An officer staff or a clerical officer is an employee or a worker of an organisation who perform clerical and administrative duties in an office. A clerk who keeps records concerning the financial transactions of the organisation is called an account clerk.   Clerical Works or duties Some […]

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Business Studies

INTRODUCTION TO BUSINESS STUDIES

INTRODUCTION TO BUSINESS STUDIES What is business? Business can be defined as any service rendered to satisfy human needs or desires which is aimed at making profit in order to earn a living, although there may be loss.   Objections of Business Studies The following are the objectives of studying or the reasons why business

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Business Studies

SIMPLE TABULATION

Meaning of a Table A table is a structure made up of rows and columns and used to organize data. Tables are very good for presenting figures and statistics.    Tabulation involves arranging items in columns. In a tabular arrangement therefore, Items stand out below each other, vertically, and on the same line as another in

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Business Studies

PROCEDURES FOR MAKING PAYMENT

Content: Meaning i.e. cash, bank transfer, cheque, bank draft, e-payment. Wages and Salaries Office. Methods of Paying Wages. Store Records-Delivery Note, Gate Pass. There are various means of settling a bill in business transactions. They include: payment by cash Payment by cheque: This is done by instructing the bank to pay our supplier from the

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Business Studies

BALANCE SHEET

BALANCE SHEET  DEFINITION OF BALANCE SHEET Balance sheet can be defined as a statement showing the assets and liabilities of a business as at a given date. A balance sheet is not an account and so it does not have debit or credit side. Also it does not have balance brought down or balance carried

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Business Studies

ERASING TECHNIQUES

ERASING TECHNIQUES   ERASING TECHNIQUES                                                            In typewriting work, errors and mistakes must be corrected. To produce accurate documents all errors must be neatly corrected. When errors are found in a typed work, the following materials can be used to erase the error: Typing eraser Correction fluid Correction paper   Typing Eraser If the typewriter eraser

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Business Studies

BUSINESS LETTERS

BUSINESS LETTERS  INTRODUCTION: A business letter is also known as an official or formal letter. Some of the distinguishing features of a formal letter are: (i) the two addresses of the addressee and the addresser, (ii) the salutation, etc   LAYOUT This is the style of display of a letter. There are two styles which

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Business Studies

PROFIT AND LOSS ACCOUNT

PROFIT AND LOSS ACCOUNT   Profit & Loss Account: This is an account prepared after the preparation of the Trading Account. It is debited with all operational expenses and credited with the gross profit and all other revenue accruing to a business.   Purpose of Preparing the Profit & Loss Account The P&L account is prepared

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Business Studies

TRIAL BALANCE

TRIAL BALANCE   MEANING OF A TRIAL BALANCE A trial balance is a list of debit and credit balances extracted from the ledger. The trial balance shows the arithmetical accuracy of ledger entries. Double entry book keeping requires that the totals of the debit column and that of the credit column of the trial balance agree.

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Business Studies

INTRODUCTION TO COMMERCE

Commerce is an important branch of business which involves buying and selling. Commerce can be defined as the large scale of buying and selling of goods and services.  Commerce is another term for describing trading of goods and services. It looks after the distribution aspect of a business. Transportation plays a very important role in

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