Asad's Business and Technology Articles

I collected the 5- Best definitions of Business in order to clearly teach business as well as non-business students and other readers for conceptually understand the basic meaning of business. An   organization   or   economic system   where   goods and services   are exchanged for one another or for   money A   business , also known as an   enterprise   or a   firm , is an   organization   involved in the   trade   of   goods ,   services , or both to   consumers Business is an   economic activity , which is related with continuous and regular production and distribution of goods and services for satisfying human wants. Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted.   A  commercial  activity engaged in as a  means  of livelihood or  profit , o...

Investment is basically the committment of funds in assets with the hope that it will generate income or appreciate in the future with anticipated risk. There are three words in the definition includes; funds, assets and income. 1. Funds mean the money someone is going to invest. 2. Assets mean any tangible property (Land, Building etc) or intangible (patent, copyright) or financial assets like shares and debentures of the company. 3. Income is the difference between Revenue (Cash inflow) and Expense (Cash outflow). The building of a factory used to produce goods and the investment one makes by running college or university are both examples of investments in the economic sense. In the financial sense investments include the purchase of bonds, stocks or real estate property.

In very simple words auditing is the evaluation of any 'Person'. In legal terms person means; An individual , Association of Persons (AOP) and a Company. But the students of Professional accountancy like CPA, C.A and Management Accountants mostly concentrates on auditing and involved in Auditing activities like; Financial auditing, cost auditing and Internal control. What is Auditing ? Every beginner ask from his teacher or his friend. Basically all authors define auditing in the same manner, but different professional bodies have their different modified definitions, for example one for understanding:  International Auditing Guidelines used to define Audit as:  " An audit is the independent examination of financial statement or related 'information of an entity', whether profit oriented or not and irrespective of its size, or legal form when such an examination is conducted with a view to express an opinion thereon". This definition comprises on: 1.In...

Every Business have objectives and goals, to achieve these goals organisation must be so designed to have proper internal control on it functions and activities. The question is what is Internal Control ? Auditing Guideline "Internal Control" issued by Institute of Chartered Accountants of England and Wales defines internal control as: "The whole system of controls, financial or otherwise, established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policies, safeguard the assets and secure the completeness and accuracy of the records. The individual components of  an internal control system are known as "Internal Controls" or "Controls" ". PIA-Internal Contol System  Explanation:-  It is the control of whole system, whether it is related to financial record or other areas like technical or legal etc. The rules and procedures of control are set by high...

In market segmentation we divide the whole market into small segments or parts. It is done because of ease for both seller and buyer. Market segmentation is made by seller who will sell his products to target customers. Segments will help him to access them easily and efficiently. For example, we (organization, say ‘PakMobiles’) make five segments of Pakistan, Punjab, Sindh, KPK, Balochistan and Islamabad. Suppose we want to sell our product that is a vedio camera mobile set (Rs.65,900). Now we want to sell our product in five segments separately then we will have to further divide five segments into smaller segments that are markets like in Islamabad we may make further segments for example; Jinnah Super Market, Abpara Market, Melody and I-9 Market. Here you will find that Jinnah-Super is expensive than abpara and Melody and I-9 Market is cheaper than all. Here we shall supply our product to majorly to Jinnah-Super or abpara, Melody instead of I-9 Market because we know that our prod...

The trade between two or among more than two nations is term as ‘International Trade’. But it is not our purpose we need to analyze this definition more practically than it is defined. A lot of thanks to economist that gave us this theory and helped the under developed countries or even advance to increase their trade volume, export and import.

Managers when go for decision making must have knowledge about threats and opportunities. They must ready to face any contingency and must know how to deal with. Some events are uncontrollable like storms; earthquake and weather etc. and some can be controlled like, demand and supply, by proper management. Now, we are going to study the challenges faced by manager during planning by Environmental forces. Recall we studied in science about environment that anything other than system. So what is system? That we are system or our homes consider a system and other people that are outsider like our neighbors etc. are environment. Similarly we can say that within organization there is also a system and there is an environment outside.  We can categorize the external environmental forces into following ways. Political and Legal Environment. Economic Environment. Technological Environment. Culture Forces. Demographic Environment. So, all the above discussed forces must be borne by ...

Pakistan is bestowed with rich natural resources that are Minerals, Oil and Gas, Aquatic animals, Forest and Human resource of course. With growth rate of 2.2%(2011) and per capita income $2400(2010).  Unfortunately we could not manage all the aforesaid resources and as a result we are now one of the Under Developed Country (UDC) of the globe. Here we should not concentrate on the reasons behind for our backwardness deeply. But we can predict our destination by a simple analyses that is, “Whether Agriculture is best or Industry, for our country prosperity?”. This question may help us in deciding what path should be selected to make Pakistan a developing country. It is said that Agriculture is the back-bone of our country but to an extent it may be true but in long run it is false. About 70% of our country population is based on Agriculture. But on the other hand   it makes 19% contribution is Gross Domestic Product (GDP).On the other side Industry contribution in GDP...

Institute of Cost and and Management Accountant of London defines Cost Accountancy, “ The application of costing and cost accounting principles, method and techniques to the science, art and practice of cost control and the ascertainment of profitability, It includes the presentation of information derived there from for the purpose of managerial decision making”. Cost accounting is generally considered to be applied in manufacturing concern. But this opinion is not true in this modern age. Every business struggle for high profit by controlling ‘Cost’ where this technique is being used its mean Cost accounting is used. Manufacturing firms, Wholesale, Retail business, Banks and other financial institution, Insurance companies, Transportation companies, Railway, Airlines, and Shipping companies and non profit organization like School, Universities means each and every business is applying Cost Accounting. To control or to keep record of each entry that is directly or indirectly associa...

                                                                 (Compare with Engineering Graduate.) As the time passing, competition among organization is increasing. Every organization is adopting every sort of tactic, like by providing the best services to their customers by utilizing up-to-date technology. As the ultimate objective or goal of any business concern is to earn profit. The profit is mathematically defined;                                       Profit = Revenue-Cost. Every firm wants to get maximum revenue against low cost of product. This objective is achieved by applying four basic function of management that are; Pla...

Motivation the one of the important topic of Management. We may define motivation, "Internal and external factors that stimulate desire and energy in people to be continually interested in and committed to a job, role, or subject, and to exert persistent effort in attaining a goal". From this definition we may assess that how important motivation is.