Commerce Optional (UPSC-IAS)

Various forms of Orientation:- Realistic Orientation These people are attracted to occupations that involve physical activities requiring skill, strength, and cooperation. Examples include forestry, farming, and agriculture. Investigative Orientation Investigative people are attracted to careers that involve cognitive activities (thinking, organizing, and understanding) rather than affecting activities (feeling, acting or interpersonal and emotional tasks). Examples include biologist, chemist and college professor. Social Orientation These people are attracted to careers that involve interpersonal rather than intellectual or physical activities. Examples include clinical psychology, foreign Service and social work. Conventional Orientation A conventional orientation favors careers that involve structured, rule-regulated activities as well as careers in which it is expected that the employee subordinates his or her personal needs to those of the organization. Examples include accountants and bankers. Enterprising Orientation Verbal activities aimed at influencing others characterize enterprising personalities. Examples include managers, lawyers, and public relations executives. Artistic Orientation People here are attracted to careers that involve self-expression, artistic creation, expression of emotions and individualistic activities. Examples include artists, advertising executives, and musicians. Most people have more than one occupational orientation (they might be realistic, social and investigative) and Holland believes that the more similar or compatible these orientations are, the less internal conflict or indecision a person will face in making a career choice.

👆🏻Benefits of students for filling CSE Prelims 2020

👆for kind information of students' belonging to bcom/mcom/ca/cs/cwa degree in educational qualification. Above details mentioned in pic to be filled in cse form 2020. If u find any difficulty ,pls contact @pragyaias

Current affairs on Paper 2 of Commerce Optional @commerceoptional

Current areas of work of ILO The ILO’s work in India is carried out within the framework of the Decent Work Country Programme (DWCP). India’s first DWCP covered the period 2007-12 and achieved satisfactory results, especially with regard to promoting livelihoods, eliminating child labour, reducing the vulnerability of bonded labourers, empowering women and informal economy workers, and developing employment generation agendas. In response to the fast changing socio-economic environment in India (notably with its emergence as a middle-income country) and in line with the country’s 12th Five Year Plan, the DWCP for 2013-2017 has set the following four priorities: • Promotion of international labour standards and fundamental principles and rights at work. • Promotion of policies for job-rich and inclusive growth, especially for women, youth and disadvantaged groups. • Building a national social protection floor and strengthening workplace compliance. • Enhancing labour administration, tripartism and social dialogue at national and state levels.

India is a founding member of the ILO and has been a permanent member of the ILO Governing Body since 1922. The ILO Office in India was established in 1928 and is, at present, composed of two teams: The Decent Work Team (DWT) provides technical support to India and other south Asian countries and the Country Office (CO) is responsible for ILO activities in India.

The ILO in India

The International Labour Organization (ILO) The International Labour Organization (ILO) is a United Nations agency whose mandate is to advance social justice and promote decent work by setting international labour standards. The unique tripartite structure of the ILO gives an equal voice to workers, employers and governments to ensure that the views of the social partners are closely reflected in labour standards and in shaping policies and programmes. @commerceoptional The main aims of the ILO are to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue on work-related issues.

OBJECTIVES OF FINANCIAL MANAGEMENT Effective procurement and efficient use of finance lead to proper utilization of the finance by the business concern. It is the essential part of the financial manager. Hence, the financial manager must determine the basic objectives of the financial management. Objectives of Financial Management may be broadly divided into two parts such as: 1. Profit maximization 2. Wealth maximization. Join 🔜 @civilservicegurukul also Join @commerceoptional

SCOPE OF FINANCIAL MANAGEMENT Financial management is one of the important parts of overall management, which is directly related with various functional departments like personnel, marketing and production. Financial management covers wide area with multidimensional approaches. The following are the important scope of financial management. 1. Financial Management and Economics Economic concepts like micro and macroeconomics are directly applied with the financial management approaches. Investment decisions, micro and macro environmental factors are closely associated with the functions of financial manager. Financial management also uses the economic equations like money value discount factor, economic order quantity etc. Financial economics is one of the emerging area, which provides immense opportunities to finance, and economical areas. 2. Financial Management and Accounting Accounting records includes the financial information of the business concern. Hence, we can easily understand the relationship between the financial management and accounting. In the olden periods, both financial management and accounting are treated as a same discipline and then it has been merged as Management Accounting because this part is very much helpful to finance manager to take decisions. But nowaday’s financial management and accounting discipline are separate and interrelated. 3. Financial Management or Mathematics Modern approaches of the financial management applied large number of mathematical and statistical tools and techniques. They are also called as econometrics. Economic order quantity, discount factor, time value of money, present value of money, cost of capital, capital structure theories, dividend theories, ratio analysis and working capital analysis are used as mathematical and statistical tools and techniques in the field of financial management. 4. Financial Management and Production Management Production management is the operational part of the business concern, which helps to multiple the money into profit. Profit of the concern depends upon the production performance. Production performance needs finance, because production department requires raw material, machinery, wages, operating expenses etc. These expenditures are decided and estimated by the financial department and the finance manager allocates the appropriate finance to production department. The financial manager must be aware of the operational process and finance required for each process of production activities. Join 🔜 @civilservicegurukul also Join @commerceoptional

DEFINITION OF FINANCIAL MANAGEMENT Financial management is an integral part of overall management. It is concerned with the duties of the financial managers in the business firm. The term financial management has been defined by Solomon, “It is concerned with the efficient use of an important economic resource namely, capital funds”. The most popular and acceptable definition of financial management as given by S.C. Kuchal is that “Financial Management deals with procurement of funds and their effective utilization in the business”. Join 🔜 @civilservicegurukul also Join @commerceoptional

👆 suggestions for improving good answer writing skill

U should have to add Credit on sales point. When sales manager wants more credit period to increase sales target.At the same time finance manager wants less credit period for management of working capital. So conflict will be arised due to blockage of fund related with credit policy. For more practice Join @commerceoptional