Characteristics of a Business Report :

Reporting systems reveals the following characteristics, which are stated below;

1.        Accurate Information: The scientific accuracy of information is very important. Inaccurate information may lead to wrong decision. 

2.        Factual Reports: A report is prepared based on information. The information is recorded in the various forms of report including different data. Personal opinion is not recorded in the report except in rare cases; Executives’ opinion / recommendations are processed in the report with the best information for an organization. Auditors’ opinions are also included in the report based on collected information of an organization.

3.        Relevance: The actual information is presented in a report on the basis of relevance of the information. Irrelevant information makes a report confusing, exclusion of relevant facts renders it complete to mislead.

4.        Conventional Formation: A report is prepared based on conventional form to fulfill specific needs on the basis of goals of an organization. Un-conventional formation of information makes a report confusing, exclusion of relevant facts renders it complete to mislead.

5.        Clarity: Clarity is the good characteristics of a report. Clarity depends on proper arrangement of the facts. The report writer must write a report systematically. Purposes of the report, methodology, analysis, findings, conclusion, summary, recommendation etc. are clearly identified in the report.    

      

6.        Lawful Objectives: To prepare a report lawful objectives are included in a report. A report implies facts with objectives so in absence of lawful objectives, a report may be misleading. 

7.        Methodology: Methodology indicates the procedure sources of data, collection of data, period of the report, significance of data & technique of analysis & interpretation of data etc. in the report.

8.        Findings: To prepare a report, findings are mentioned in a report by the skill of the reporters. This indicates the output of the report. 

9.        Conclusion and Recommendation: Conclusion & recommendations are written in the report to focus the actual characteristics of the report. 

10.      Orderly Application: When a report is prepared then orderly prescription is applied logically for an organization to locate the needed information quickly. 

11.      Direction: Practically a report moves towards upward in the organization. It is prepared after being requested by the executives and is submitted to the executives Level. 

12.      Joint-Collaborative Effort: Short, long, formal and informal report writing is too much hardy, technical & critical activity for an organization. Nevertheless, to prepare the complex reports for an organization require the skilled & efficient work force by the joint collaborate efforts.

13.      Grammatical Concepts: A report is prepared free from different errors. Any error & faulty formation of a sentence makes its meaning obscure and ambiguous.

Importance of decision making-

Practically reports play a major role among the communication systems. Without the help of communicative systems no business can run because, communication is vital issue to every part of today’s business organization. A large number of important decisions in business, industry or government are taken on the basis of information presented or recommendations made in reports. Not only that a commission / committee, a study group or a panel is required to present its findings / recommendations in the form of a report. For the running an industry/ firm/ business effectively the skill of report writing is as necessary as good equipment & quality raw materials. Why Study Business Report Writing? It may be answered from the two points of view i.e. from the business points of view & from the personal point of view. These are discussed below as the importance of report writing; 

1.        Decision-Making: A report is a basic tool of management, which is used to take the decision making for an

Strategic aspects of the make or buy decision-

Vertical integration provides certain advantages. An integrated company is less dependent on its suppliers and may be able to ensure a smoother flow of parts and materials for production then a non-integrated company.

For example, a strike against a major parts supplier can interrupt the operation of a non integrated company for many months; whereas an integrated company that is producing its own parts might be able to continue operations. Also some company feels that they can control quality better by producing their

Some relevent costs of Managerial Accounting--

To identify relevant costs and benefits we first describe “avoidable cost”.

AVOIDABLE COST

An avoidable cost is a cost that can be eliminated in whole or in part by choosing one alternative over another. By choosing the alternative of going to the movie, the cost of renting the videotape can be avoided, by choosing, the alternative of renting the video tape, the cost of the movie ticket can be avoided.

Only those costs and benefit that differ in total between alternatives are relevant in a decision. If a cost will be the same regardless of the alternative selected, then the decision has no effect on the cost and it can be ignored.

Avoidable costs are relevant costs. And unavoidable costs are irrelevant costs.

The Matter of Opportunity Cost

The economic benefits that are foregone as a result of pursuing some course of action. Opportunity costs are not actual dollar outlays and are not recorded in the accounts of an organization.

Two board categories of costs are never relevant in decision. These irrelevant costs are,

1. Sunk Cost

2. Future costs that do not differ between the alternatives.

Now short details about sunk cost and future cost.

SUNK COST

A sunk cost is a cost that has already been incurred and cannot be avoidable regardless what a manager decide to do. Sunk costs are always the same, no matter what alternative are being considered. And they are always irrelevant and they should be ignored.

FUTURE COST

Future costs that do not differ between the alternatives are relevant.

With this two types of costs, differential costs and joint costs are also needed for solve problems.

DIFFERENTIAL COST

Any cost that differs between alternative between a decision making situations. This term is synonymous with avoidable cost and relevant cost.

JOINT COST

Costs that are incurred up to the split off point in a process that produces joint products.

JOINT PRODUCTS

Joint products means, two or more items that are produced from a common input.

Joint products and joint costs are under the subject of multiple constraints. Example, a company may have limited row materials, limited direct labor-hours available, limited floor space, and limited advertising dollars to spend on product promotion.

How would it determine the right combination of products and produce?

Assignment on Entrepreneur & Entrepreneurship-

Introduction:

An entrepreneur is a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome. An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources.  Entrepreneurship is the act of being an entrepreneur, which can be defined as "one who takes over the world"innovations, finance and business acumen in an effort to transform innovations into economic goods. But there is a long story of the two words.

Entrepreneur:

The term was originally a loanword from French and was first defined by the Irish-French economist Richard

CAMELS ratings

Overview

OBJECTIVES:

Review the key components of CAMELS ratings. Understand their meaning and their application to commercial banks. There are six elements:

1.        Capital adequacy

2.        Asset quality

3.        Management

4.        Earnings

5.        Liquidity

6.        Sensitivity to market

Assignment on an Aid Organization - US-AID

INTRODUCTION

US AID HISTORY:

Summary

On September 4, 1961, the Congress passed the Foreign Assistance Act, which reorganized the U.S. foreign assistance programs including separating military and non-military aid. The Act mandated the creation of an agency to administer economic assistance programs, and on November 3, 1961, President John F. Kennedy established the U.S. Agency for International Development

Assignment on E-Business and E-commerce

E-COMMERCE:

INTRODUCTION

In the emerging global economy, e-commerce and e-business have increasingly be-come a necessary component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT) in business has revolutionized relationships within organizations and those between and among organizations and individuals. Specifically, the use of ICT in business has enhanced productivity, encouraged greater customer participation