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1. NUCLEUS- It is the control center and assigns all of the other organelles what to do and when to do it. DNA is present inside the nucleus and this material has all the instructions the cell needs for making proteins and the replication procedure. RNA, proteins and other molecules move out of the nucleus into the cell.
2. CHROMOSOMES- Chromosomes are found in the nucleus. They are the DNA which is present in the condensed form. They carry the genetic information from the parent to the offspring. During the division phase, the DNA condenses into chromosomes and then the duplication of the material takes place.
3. RIBOSOMES- Ribosomes help in making proteins, they are small pieces of RNA found in the cytoplasm. Their function is to assemble proteins. They can be found in some other organelles like endoplasmic Reticulum.
4. CYTOSKELETON- There is a network of tiny tubes within the cytoplasm; it is called the cytoskeleton. The tube gives the cell its structure and also supports the organelles by holding them in place. They also work in transporting things between different parts of the cell.
5. MICROTUBULES- Cytoskeleton is made from two different components: microtubules and microfilaments. Microtubules are made of protein and are hollow. They help in maintaining the shape of the cell. They form spindle fibers, during the replication process. These spindle fibers help in separating the chromosomes so that they can be divided.
6. MICROFILAMENTS- Microfilaments are very thin threads and they are also made of protein. Like the microtubules, they help to maintain the shape of the cell.
7. ENDOPLASMIC RETICULUM- They are of two types RER and SER. RER is known as rough Endoplasmic Reticulum. They are a collection of lipid membranes and help in the movement of proteins. They are known as rough because the Ribosomes are attached to their surface and give them a rough appearance. The E.R. function is to transports these proteins to another organelle that will help in packaging and will ship them out. SER is known as Smooth Endoplasmic Reticulum. They do not have any Ribosomes on its surface and hence, the name smooth is given. The lipid part of the cell membrane is assembled in SER.
8. GOLGI APPARATUS- This organelle looks like stacks of pancakes. They help in packaging and sorting of proteins. The organelle is always around the cell membrane as it is so important to shipping things out of the cell.
9. LYSOSOMES- This is the garbage house of the cell. This organelle has digestive enzymes that help in breaking down items that are toxic to the cell. They help in breaking down the proteins, carbohydrates and lipids.
10. MITOCHONDRIA- They is known as the powerhouse of the cell. They have a double membrane and the inner one is folded and thus increases the surface area where energy can be created. They create energy in the form of ATP.
11. VACUOLES function is to store water, proteins, carbohydrates and salts. The vacuole is the way the amount of water coming and going is controlled by an organism that lives in water.
12. VESICLES are smaller structures found in eukaryotic cells; their function is to store and move things between the organelles.
An adjusted trial balance is an internal document which is prepared after all adjusting entries (journal entries recorded at the end of the accounting period to alter the ending balance in various ledger accounts) are made and posted to the ledger. This is the second trial balance prepared in the accounting cycle. The main purpose of the adjusted trial balance is to check that whether the total amount of debit balances in the general ledger equals to the total amount of credit balances or not, and if the total of debit column is not equal to the total of credit column then this would show us that there is an error in the nominal ledger account.
An adjusted trial balance provides enough information for the preparation of many financial statements such as income statement, balance sheet, and statement of changes in equity. An adjustment trial balance will help also provides accurate information while preparing financial statements.
In accounting, though all three words that is cost, expenses and losses represent outflow of funds from company to outsider. However, there is difference in the way the outflow of funds or cash happens.
Difference between expenses and losses-
An expense is a cost used up in earning revenues in a company’s main operations. Some of the examples of expenses include advertising expenses, commission expenses, rent expenses, cost f goods sold, salaries and so on. Expenses also include costs used up during the accounting period such as interest expense, insurance interest and depreciation interest. While, a loss is associated with a “peripheral” or “incidental” transactions. Examples of losses include the loss on the sale of an asset used in business, loss from fire and loss from retirement of bonds. Loss incurred on non- recurring cases. For example- you sold an asset at lower price then its written down value.
Another difference is, an expense includes only expired cost which is used up in earning revenues in a company’s main operations. While loss is the outflow of cash which arises not due to business transactions but due to some other events.
The break-even point is the point at which total cost and total revenue are equal. In other words, there is no net loss or gain. Break-even points can be useful to all avenues of a business, as it allows employees to identify required outputs and works meeting these. The break-even value is not a generic value and will vary dependent on the individual business. For example- a business which deals in electronic items, need to sell 300 items annually to achieve break-even point.
The break- even point is one of the simplest analytical tool. Identifying a break-even point helps provide a dynamic view of the relationships between sales, costs, and profits.
Now, the question arises that what causes an increase in break- even point?
Well, following are the reasons for increase in break-even point-
- Increase in fixed costs- The most common reason for increase in break-even point is increase in fixed costs. These are costs you must pay regardless of the level of volume sold. An increase in fixed costs such as rent, salaries, and utilities, can increase your break-even point.
- Increase in variable costs- if variable costs increase, without an equivalent increase in revenues, the break-even point will increase to make up for the losses.
- Increase in customer sales- when you manufacture more of your products to meet the additional customer demand then it may increase your break-even point.
- Labor rework expenses can also increase your break-even point.
Accountancy methods refers to the basic rules and guidelines under which a business keep their financial records and prepare their financial reports. There are two types of accounting methods used for book keeping: the cash basis and the accrual basis.
Accrual method of accounting is the standard approach to recording transactions for all larger businesses. Well, the question arises that what accrual method is?
Accrual means accumulation of something, in accounting, it has mean different meaning where it refers to accounts on a balance sheet that represents liabilities. Hence, accrual basis of accounting is the concept of recording revenues when earned and expenses as incurred. This method of recording business transaction is totally different from cash basis of accounting, under which revenues are recorded when cash is received, and expenses are recorded when cash is paid. While, under accrual basis of accounting, expenses are matched with revenues on the income statements when the expenses expire, or tittle has transferred to the buyer, rather than at the time when expenses are paid. The need for this method arose out of the increasing complexity of business transactions and a desire for more accurate financial information. This method provides a more accurate picture of the company’s current financial conditions.
Miscellaneous refers to a collection or a group, in accounting, it refers to an income statement account for expense items that are too insignificant to have their own separate general ledger account.
A business firm spends money for various types of expenses. Normally, the account heads are assigned to those expenses which are repeatedly incurred. But there some expenses for which no account head is created because of very few transactions for a certain expense. If an accountant creates individual account heads for such type of transactions, then it will be very difficult to control. Therefore, all these expenses are booked under miscellaneous expenses account or general expenses accounts. Refreshment expenses, conveyance expenses, meals, postage, etc. are included in miscellaneous expenses.
How miscellaneous expenses are treated?
Miscellaneous expenses are recorded on the asset side of the balance sheet, after current and fixed assets. Miscellaneous expenditure in the asset side of the balance sheet normally comprises of following items:
- Preliminary expenses i.e. expenditure incurred to bring an enterprise into existence.
- Expenditure on raising shares and debentures
- Development expenditures
These expenses are not revenues in nature and hence shown in the assets side of the balance sheet, and should be amortized over a period of time.
The concept of “span of control” also known as management ratio, refers to the number of subordinates controlled directly by a manager or a superior. The concept of span of management was developed in the United Kingdom in 1922 by Sir Ian Hamilton. It arose from the assumptions that managers have finite amounts of energy, time, and attention to devote. The management span can be narrow or wide. The narrow span means that there are many mid and top-level managers who each supervise a small number of employees reporting to them. In contrast, wide span of management means there are fewer mid and top-level managers who each supervise a large number of employees.
Companies usually prefer Narrow span of management. Some advantages of narrow span of management are:- Close supervision of employee tasks
- Possibility for more upward growth of the employee
- Close relationship between employees and supervisor
- Feedback ideas from employees will be effective
But the narrow span of management also has some disadvantages.
- Greater levels of management mean greater operational costs
- Slower decision making
- Employees can be closely supervised which might demotivate them.
