Introduction An organization and its immediate supplier are interdependent and developing a mutually beneficial relation between the two it and enhancing the ability on the part of both adding value. The two forces, organization and supplier are dependent on each other thus need to have a cordial or win to win relationship. Organization always looks towards adding value towards their suppliers who serve them with the raw material or products

    Fact based decision making is a process with orderly steps to be followed which lays strain on gathering the right information, strive for best quality of data, conducting unbiased analysis to extract basic insights, identifying and analysing pros and cons of the possible decisions and select that decisions which are supported by strong analysis rather than doing speculations and guesswork. All the decisions which are extracted from meaningful

Introduction The term continual improvement covers the aspect of bringing enhancement in the products, services or processes involved either through incremental or breakthrough upgrades. Bringing improvements in the product through recurring activities hikes the ability of the product to fulfil the laid down requirements. While the continual improvement can be achieved by various tools like – utilization of quality policy, quality objective, audit outcomes, data analysis, preventive actions in case

Introduction To realize the overall objective of the organisation a complete study is done with respect to the firm on the human resource and material resources and how they can be well organized. This principle has acquired its importance due to the increasing complexity among the firms and potential growth and contribution of automatic computers. This principle implies that every manager of the firm should be crisp and precise with

Financial Statement- Building Cash Flow Statement Cash flow statement is a financial statement which reflects the inflow and outflow of cash and cash equivalents from the business during an accounting period. It helps in showing detailed picture of changes in the balance sheet and income statements so incurred due to the entering and leaving a company. It shows how the company manages its cash position by using it effectively in

Financial Reports- Understanding Income Statement Profit & Loss account also known by the name of Income Statement, summarizes the overall expenditures, revenues, net profit and loss incurred during the accounting period be it monthly, quarterly or yearly. It reveals the profit and losses so generated during the period by carrying on its operations significantly. These type of statements are prepared and presented using the method of cash system of accounting

Financial Reports- Preparation of Balance Sheet A balance sheet gives on the overview of one’s financial position of the company, sole proprietorship, private limited corporate or other government organizations. It helps in defining the position of assets, liabilities and equity of an organization at the end of financial year. Basically a balance sheet is prepared at the end of set period of time be it quarterly, annually or monthly. With