Henry Fayol’s principles of management are as follows: 1. Division of Work 2. Authority and Responsibility 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordination of Individual Interest to General Interest. 7. Remuneration of Personnel 8. Centralisation 9. Scalar Chain 10. Order 11. Equity 12. Stability of Tenure of Personnel 13. Initiative 14. Espirit De Corps. Henry [...]
Business ethics refers to the moral principles or rules of behaviour which should govern moral conduct of businessmen. They suggest the ways and means of running a business which are morally justified and are influenced by expectations of society, employees or government. Business ethics refers to the moral standards which business persons are expected to follow. It simply means ethics [...]
The Institute of Chartered Accountants and Provisions of Company Act, along with the guidelines under the Act govern the accounting principles and practices, followed in India. The knowledge of the more important principles involved is an asset for the financial analyst. The majority of the companies follow these right principles of accounting, which are prudent and conservative. Some of these [...]