Business Studies

8 Types of Departments What is department?  A department is a unit or section established within an organisation to carry out the functions of that organisation. Departments in an organisation The following are the various departments that can be found in an organisation. They are: Administrative department Purchasing department Accounting department Sales department Personnel department

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

Definition of an office. An office is a place or a room set aside in an organization for performing clerical and administrative duties. It is the centre of all clerical activities in an organization or establishment. Clerical and administrative duties can simply be referral to as: Written work Record keeping Receiving and giving information etc.

The word attitude can be describe as the feeling and thought an individual has towards someone or something. Every organisation or even family has a code of conduct or practice. E.g. your school. If the employees in an organisation follow its code of practice, we can conclude that such employees have the right attitude to

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

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

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

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

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

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

MEMORANDUM   PURPOSE OF MEMORANDUM A memorandum or memo is an internal communication within an organization. Such written communication between the personnel and accounts departments or between the marketing and accounts departments are examples of memo. A memorandum is also shortened as a memo. Because a memo is between staff in the same organization, it does

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

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.

A source document is the original record of transaction.it states the basic facts of the transaction such as its date, purpose (description of transaction), quantity of the goods exchanged, amount of money involved, name of the seller and buyer and so forth. Uses of source documents For record purposes For accounting purposes For auditing purposes