HUMAN RELATION APPROACH
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PERFORMANCE APPRAISAL NOTES
PERFORMANCE APPRAISAL SYSTEM MEANING Performance appraisal is a comprehensive assessment of employee performance and an understanding of a person's abilities for further growth and development. DEFINITION Dale S. Beach, "Performance appraisal is the systematic evaluation of the individual with respect to his or her performance on the job and his or her potential for develop ment". Objectives of Performance Appraisal 1. Salary Increase. Performance appraisal plays a key role in making decision about salary increase. 2. Promotion. Performance appraisal plays a significant role where promotion is based on merit. 3.Training and Development. Performance appraisal tries to identify the strengths and weaknesses of an employee on his present job. 4. Feedback. Performance appraisal provides feedback to employees about their performance. 5. Pressure on Employees. Performance appraisal puts a sort of pressure on employees for better performance. ...
ADVANCED ACCOUNTING NOTES
Meaning & definition of Accounting In 1941, The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof’. With greater economic development resulting in changing role of accounting, its scope, became broader. In 1966, the American Accounting Association (AAA) defined accounting as ‘the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of information’. 📝 Objectives of Accounting As an information system, the basic objective of accounting is to provide useful information to the interested group of users, both external and internal. 1.Maintenance of Records of Business Transactions Accounting is used for the maintenance of a systematic record of all financial tra...