MANAGEMENT FUNCTIONS

Management plays a vital role in any business or organized activity.Management is composed of a team of managers who have charge of the organization at all levels.Their duties include making sure company objectives are met and seeing that the business operates efficiently.Regards of the specific job,most managers perform four basic functions.

v Planning

v Organizing

v Directing

v Controling

Planing involves determining overall company objectives and deciding how these goals can best be achived.managers evaluate alternative plans before choosing a specific course of action and then check to see that the chosen plans fits into the objectives established at higher organizational levels.planning is listed as the first management function because the others depend on it.However,even as managers move on to perform other managerial functions,planning countinuse as goals and alternatives are further evaluated and revised.

Organizing the second management function, is the process of putting the plan into action. This involves allocating resources, especially human resources, so that the overall objectives can be attained. In this phase, managers decide on the positions to be created and determine the associated duties and responsibilities. Staffing, choosing the right person for the right job, may also be included as part of the organizing function.

Third is the day-to-day direction and supervision of employees. In directing, managers guide, teach, and motivate workers so that they reach their potential abilities and at the same time achieve the company goals that were estabilished in the planning process. Effective direction, or supervision, by managers requires ongoing communication with employes.

In the last management fuction,controlling,managers evaluate how well company objectives are being met.In order to complete this evaluation,managers must look at the objectives estabilished in the pallaning phase and at how well the tasks assigned in the directing phase are being completed.if major problems exist and goals are not being achieved,then changes need to be made in the company’s organizational,or managerial,structure,in making changes,managers might have to go back and replan,reorganize,and redirect.

In order to adequately and efficiently performthese management functions managers need interpersonal,organizational,and tehnical skills,Altought all four functions are managerial dutie,the importence of each may vary,depending on the situation.effective managers meet the objectives of the company througt a siccesfull combination of planning,organization,directing,and controlling.

1. Management : Pimpinan
2. Function : Tugas
3. Play : Memainkan
4. Vital : Penting
5. Organized : Yang di organisasi
6. Is composed of charge : Terdiri dari tanggung jawab
7. Organization : Perusahaan
8. Duties : Tugas
9. Include : Mencakup
10. Making sure : Meyakinkan
11. objective : tujuan
12. are met : Tercapai
13. Seeing : Pengawasan
14. Regardiess : Tidak pandang
15. Spectif job : Tugas khusus
16. Pergorm : Melakukan
17. Involves : Termasuk
18. Achived : Dicapai
19. Alternative : Pilihan lain
20. Course : Rangkaian
21. Fits : Sesuai
22. Estabilished : Ditetapkan
23. Is listed : Terdaftar
24. Depend on : Tergantung
25. However : Namun
26. Even : Walaupun
27. move on : Bergerak terus
28. Futher : Lebih lanjut
29. Putting : Menjadikan
30. Alocating : Pengalokasian
31. Resource : Sumberdaya
32. Especially : Terutama
33. So that : Sehingga
34. Can be alterned : Dapat di capai
35. Position : Jabatan
36. Created : Di adakan
37. Associated : Yang ada hubungannya
38. Staffing : Pemilihan staff
39. Employess : Pegawai
40. Potential : potensial
41. Abilities : Kemampuan
42. Requires : Menghendaki
43. Angoing : Terus menerus
44. How well : Seberapa banyak
45. In order to : Untuk
46. Assigned : Di berikan
47. Adequatelly : Secara benar
48. Interpersonal : Bergaul
49. Skill : Kemampuan
50. vary : Berbeda-beda

A.Answer the following question about the balance sheet.Question with asterisk(*)cannot be answer directly from the text.

1.What is the financial product of the accounting process?

2.What is a balance sheet?

3.Does the balance sheet provide financial information for a long period of time(for example,January to june 1993)or does it provide information for a specific in time(for example,on june 30 1993)?

4.What is the difference between assets and liabilities?

5.How is owners’or stockholdrs’equity determined?

6.How can the relationship between assets,liabilities,and owners’equity be represented?

7.Does the accounting equqtion always remain in balance?*Why or why not?

8.How can a business use a balance sheet?*As manager.how would you find a balance useful?

ANSWER:

1.The financial product of the accounting process is the balance sheet.

2.A balance sheet is a final statements that provides a summary of what a company awns and what it owes on one particular day.

3.it provides information for a specific in time,for example,on January 30 1993.

4.assets represent everything of value that is owned by a business,liabilities are the debts that is a company ownes.

5.Owners’or stochoders equity is determinited by subtracting liabilities from assets.

6.It can be represented by the fundamental accounting equqtion,assets equal liabilities plus owners’equity.

7.Yes,it does,Because one side must equal the other if not,it must be wrong with the recording.

8.A balance is usefull for a business,because it provides a financial picture of a company on a particular day,It provides managers with financial information decision making.

THE BALANCE SHEET

Financial statetments are the final product of the accounting process.they provide information on the financial condition of a company.The balance sheey,one type of financial statement,provides a summary of a company owns and what it owes on one particular day.

Assets represent everything of value that is owend by a business,such as property,equipment,and accounts receivable.On the other hand,liabilities are the debts that a company owes-for example to suppliers and banks.if liabilities are subtracted from assets(assets-liabilities),the amount remaining is the owners’hsare of a business,this is know as owners’or stockholders’equity.

One key to understanding the accounting transaction of a business is to understand the relationship of its assets,liabilities,and owners’equity.this is often represented by fundamental accounting equation:assets equal liabilities plus owners’ equity.

ASSETS=LIABILITIES+OWNERS’ EQUITY

These three factors are expressed in monetary terms and therefore are limitied to items that can be given a monetary value.The accounting equation always remains in balance;in other words,one side must equal the other.

The balance sheet expands the accounting aquation by providing more information about the assets,liabilities,and owners’equity of a company at a specific time(for example,on December 31,1993).it is Mde up of two parts.the first parts lists the company assets,and the second part details liabilities and owners’equity.Assets are divided into current and fixed assets.Cash,acconts receivable,and inventories are all current assets.Property,buildings,and equipment make up the fixed assets of a company.The liabilities section of the balance sheet is often divided into current liabilities (such as bonds and long-term notes).

The balance sheet provides a financial picture of a company on a particular date,and for this reason it is useful in two important areas.Internally,the balance sheet provides managers with financial information for company decision making.Externally it gives potential investors data for evaluating the company’s financial position.

AN ACCOUNTING OVERVIEW

Accounting is frequently called the”language of business”because of its ability to communicate financial information about an organization.various interesred parties,such as managers,potential investors,crediators,and the government,depend on accompany’s accounting systems to help them make informed financial decisions.An effective accounting system,therefore,must include accurate the financial status of an organization.

In order to achieve a standardized system,theaccounting process follows accounting principles and rules.Regardless of the of business or the amount of money involved,common,procedures for handling and presenting finanacial information are used.incoming money (revenues) and outgoing money (expenditures) are carefulully monitored,and transaction are summarized in finacial statement,which reflect the major financial activities of an organization.

Two common financial statements are the balance sheet and the income statement.the balance sheet shows the finanacial position of a company at one point time,while the income statement shows the fianancial performance of a company over a period of time.Financail statement allow interested parties tocompare one organization.for example,an investor amy compare the most recent income statement of two corporations in order to find out which one would a better investment.

People who specialize in the field of accounting are known as accountnts.in the united states,accountants are usually classified as public,private,or governmental.public accountants work independently and provide accounting services such as auditing and tax computation to companies and individuals.public accountants may earn the title of CPA(Certified Public Accountant)by fulfilling rigorous requirements.private accountants work solely for private companies or corporations that hire them to maintain financial records,and governmental accountants work for governmental agencies or bereaus.both private and governmental accontants are paid on a salary basis,whereas public accountants receive fees their services.

Throught effective application of commonly accepted accounting systems,private,public,and governmental accountants provide accurate and timely financial information that is necessary for organitational decision-making.

A.Answer the following question about accounting.Questions with asterisks cannot be answer directly from the text.

1. Why is accounting called the “language of business”?
2. How is a standardized accounting systems achieved?
3. What are revenues and expenditures?
4. What do the balance sheet and the income statement have in common?How are they different?
5. *How might the information contained in financial statements be useful to managers?*How might creditors use this information?
6. How are accountats classified in the united states?
7. What kinds of services do public accountants provide?
8. What is a CPA?*do you have a similar type of position in your country?*Explain.
9. *Which type of accounting-public,private,or governmental-appeals to you the most?
10. *What are some management decisions that might be based on accounting information?

ANSWER:

1.Accouting is called the “language of business”because of its ability to communicate financial information about on organization.

2.In order to achieve a standardized accounting systems,the accounting process follow accounting principles and rules.

3. Revenues are incoming money expenditures are aoutgoing money.

4. The balance sheet and the income statement are two aommon financial statement they are different,the first shows the financial position of a company at one point of time,while the second shows the financial performance of a company over a perio of time.

5. The information contained in financial statements might be use to creditors.it helps them to find out whether the company will be able to repay crdit ontime or not.

6. In the unitd states accountants,are classifred as public,private,and governmental.

7. Public accountants provide accounting services such as auditing and text computation to companies and individuals.

8. A CPA is a certified public accountant. Yes we had formerly faculty of economics graduates of 5 elite universities god ‘Drs……..Ak’dogree.

9. Personal question

10. Some company fianancial decision makings moght be based on accounting information for example the management wont to expands its business to build a bigger factory to introduce new variety of goods.

TENSES

Pr = Present ,Ps = Past,S = Simple,C = Countinucus,F = Future,Pf = perfect

1. Pr.s = He write many latters everyday (hatitual action)

2. Ps.s = He wrote m.i. yesterday (occurred in the past)

3. Pr.c = He was writing m.i. now (is occurring right now)

4. Ps.s = He was writing m.i. when t it rained yesterday (two actions in the past)

5.Pr.f = He will write m.i. tomorrow (will happen in the future)

6.Ps.f = He would wrote m.i. yesterday,but the didn’n have time

7.Pr.pf = He has eritten m.i. already (has just happened now)

8.Ps.pf = He had written m.i. when it rained yesterday (two actions in the past)

9.Pr.fc = He will be writing m.i.when you visit him tomorrow (in the future)

10.Ps.fc = He would be writing m.i.whenyou visited him yesterday (in the past)

11.Pr.f pf = He will have written m.i.when you come tomorrow (in the futuring)

12.Ps.f pf = He would have written m.i.when you come yesterday (in the past)

13.Pr.pf c = He has been writing m.i.foe two days until now (in the past)

14.Ps.pf c = He had been writing m.i.for two days until yesterday (coninously from past to past)

15.Pr.f pfc = He will have been writing m.i.for two days until tomorrow (until in the future)

16.Pf.f pfc = He would have been writing m.i. for two days until yesterday (until in the past)