Accounting for Small Business Essay Example for Free

Accounting for Small Business Essay ABSTRACT SMEs play a very important role in Indias economy and have a great potential for strengthening the real sector in India. But there has not been appropriate infrastructure yet which is accounting system to show the business feasibility. Traditional business in Indian Villages had been started by a family and ancestors, but has gotten bigger now. This business has many strengths and weaknesses. Based on the condition and background, the proposed-accounting system has been developed. It has been also successfully tested for a month transaction and revised. Adding knowledge management into accounting system is an alternative way to develop the proposed-accounting system. The four modes of knowledge creation will facilitate the business and its owner to add some modules in accounting system and to reengineer the business process. See more: Distinguish between problem-focused coping and emotion-focused coping Essay INTRODUCTION: Small business plays a very important role in Indias economy, particularly in aspects increased employment, income generating, economic development. In addition, this sector is considered as a driving force for the rural economy. But until now there are still many problems to hinder the small business growth. Facts in the Asia Pacific region revealed that Small and Medium Enterprises (SMEs) employ about 60 percent of the workforce. Only 10 percent of the total companies in Asia Pacific which is a big business, the rest are SMEs. For India, according to Small Medium Business Corner (SMBC) data in 2012 the numbers of micro, small and medium enterprises develop into 130 Lakhs (http://www.smeindia.net/export_schemes/OverviewofMSME.html) by giving employment to 410 Lakhs people and able to contribute to the total national GDP amounted to 8-9 percent in 2012. Basic problem of management in small business is inability of owners to determine their management style that appropriate with the business need and development stage. In early stage of business, family management style leads to one-man show. According to improvement of business environment, that conventional style could not be pushed longer. Especially in financial management, the business owners could not be able to separate the financial management of business and family yet. Besides, they have not well planned, managed and reported periodically yet. It is caused by there is no appropriate infrastructure which is accounting system. The impact is that the owners of small business have difficulties to cooperate with external such as bank or another financial institution. The owners have difficulties to show their feasibility business when they want to propose credit or make a business contract with another business. Based on the importance of an accounting system, this research results a proposed-accounting system which can be applied by owners of small business in India. The proposed-accounting system is a generic model of purchasing and selling system that should be enhanced according to business need and by refer to the knowledge management approach. LITERATURE REVIEW: ACCOUNTING SYSTEM: According to Gillespie, accounting system is an organization of document, form and report which is managed to provide information for management. Based on that definition, elements of accounting system are documents, forms and reports, but still concern with procedure and internal control. Therefore, proposed-elements in this study will refer to it. SMALL BUSINESS: Under the law of Micro, Small and Medium Enterprises (2008), definition of SMEs in India is explained by the table below. Based on the definition, the research object is categorized as a small business. DEFINITION OF SMES IN INDIA Enterprises engaged in providing or rendering of services (i) A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh; (ii) A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore; and (iii) A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore. Enterprises engaged in the manufacture or production, processing or preservation of goods (i) A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; (ii) A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore; and (iii) A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore. SYSTEM DEVELOPMENT: System development in this study will follow the three main steps a.System analysis: Activities in this stage are initial study, feasibility study, requirement definition, and specification system arrangement. b.System design:   After finishing system analysis, the next activities are system design, system building and system testing. c.System implementation:   Based on system testing, a revised system will be established. Finally, system is implemented and operated. At this stage, company will conduct maintenance activity. RESEARCH METHODOLOGY: Since this study wants to develop a proposed-accounting system, â€Å"Research and development† approach which is applied in this study is a research program that is followed by a development program. It is a combination of descriptive study that describes the actual phenomenon in an object and exploratory research that develops a proposed -accounting system. A proposed-accounting system is focused on purchasing and selling system since those are the main activities in the business. The location of this study, Traditional small business in Indian Villages, was chosen on purpose, because this business in the Villages has significantly improved in sales and human empowering, also government is paying attention by giving assistantship for both management and technology. Primary data of this study was the results of guided interviews and observation. The steps of this study are designed as follow: a.Initial study Preliminary research was conducted to comprehend previous studies and literature, guided questionnaire drafting, and Traditional business understanding. b.System requirement defining At this stage, the data was obtained by interview with business owners and observation directly to the business. By understanding the research object condition and background, also the strength and weakness, the accounting system requirement could be defined. c.Development of proposed-accounting system At this stage, development of proposed-accounting system was managed by interviews, observation, and group discussion among owners, researcher and government, related to main accounting system elements, which are document, form and report. In its development, knowledge management approach was proposed to use since it can facilitate business daily operation into business standard operation. The result of this stage was a proposed-accounting system. d.Testing and implementation Testing was accomplished by implementing the proposed system to handle a month transactions. Owners and their staff used it to run transactions of purchasing and selling for a month. By running the system, problems were found and then they were used to revise the system. At this stage, a revised-accounting system was established. e.Conclusions and recommendations In the final stage of this study, conclusions and suggestions from all research processes were stated. RESULT AND DISCUSSION: PROFILE OF TRADITIONAL BUSINESS IN INDIAN VILLAGES: India is one of the major exporter and supplier of handicrafts and gift products to the world market. The Indian handicrafts industry is highly labor intensive and decentralized, being spread all across the country in rural and urban areas. The sector is considered as the second largest employment-generating sector after agriculture with numerous artisans engaged in craft work on a part-time basis. The industry offers employment to over 6 million artisans, including a large number of women and people from the weaker sections of society. The present day handicraft tradition of India is a perfect example of assimilation between the traditional designs and modern techniques. The fast growing demand for Indian handicraft and gifts products have made this sector a full-fledged large scale organized industry that is growing day by day. History The rich history of India’s craft tradition has evolved over the centuries offering a legacy of Indian culture promising everything beauty, dignity, form and style. The variety is comprehensive and ranges from age-old stone carvings to modern handicrafts making use of glass flints and mirrors. The most popular crafts, include metalware, earthenware, pottery, sculpting, woodwork, hand-printed textiles and scarves, embroidered and crocheted goods, shawls, zari products, stone carving and imitation jewelry. There is a myriad of art and craft traditions in India that depend on social, economic and regional factors. The present status of the sector in India owes much to the rich crafts history and tradition of the past. Majority of the crafts from the past continues to flourish due to their utilitarian characteristics, availability to the common people and popularity in domestic and global markets. Today, some of the sectors within the craft industry have even become full fledged industries in their own, like carpet weaving, traditional textile (Banarsi silk sari, Chikankari etc), gem cutting and polishing, jewelry making, the world famous diamond cutting and polishing industry, brassware, jute products, etc. The growth of these industries is due to their ever-increasing demand and the popularity of Indian crafts in the domestic market and overseas. Gems and jewelry, carpet making, metalware, leather products, jute products etc. are some industries, which are growing rapidly.

Free Handmaids Tale Essays: The Red Motif :: Handmaids Tale Essays

The Red Motif in The Handmaid's Tale In the dystopian novel "The Handmaid's Tale" written by Margaret Atwood, the recurrent appearance of the color red draws an interesting yet perverse parallel between femininity and violence. The dominant color of the novel, red is associated with all things female. However, red is also the color of blood; death and violence therefore are closely associated with women in this male-dominated ultraconservative government. We are first introduced to the color red when the narrator is describing how she gets dressed: "The red gloves are lying on the bed. Everything except the wings around my face is red; the color blood, which defines us." Here, we are unsure if Atwood is referring to blood as menstrual and feminine, or as the result of disobedience and the violence which results. The women of "Handmaid" are cloaked in red as a reminder of their fertility. However, in the context of Gilead, red is not just menstrual blood or blood resulting from birth; the red is a threat of death. Offred would later say, "I never looked good in red, It's not my color. "Red tulips are also a recurrent image in "The Handmaid's Tale." Tulips, often seen as llonic symbols in many works, can be interpreted this way also. Tulips are women, and red tulips are women cloaked in red, red blood. On page 12 Offred narrates: "The tulips are red, a darker crimson towards the stem, as if they have been cut and are beginning to heal there." If a deeper interpretation of this thought is warranted, I would think the place where the tulip meets the stem in the neck of the woman, and as the government came in and stripped them of all power they "cut off their heads" in a way by depriving them of money, reading materials, and any type of education. Tulips, like the cloaks, are symbols of violence against females in the perverse world of Gilead. A blatant use of red to relate women with violence can be seen on page 32: "But on one bag there's blood, which has seeped through the white cloth, where the mouth must have been. It makes another mouth, a small red one. . . This smile of blood is what fixes the attention finally." The men who are hanging are meant to scare, as Atwood clearly states, yet meant to scare who?

Chains and Sustainable Development Essay

Those of us who preach the gospel of agriculture with evangelical zeal find the text compelling and convincing. We are regularly possessed by the spirit only to look around and see out colleagues, in other sectors, in country management, or even our senior management doubting, yawning or subtly edging towards the door. We face the implicit query, â€Å"If agriculture can do such great things, why have they not yet happened? †1 The past decade has been one of agro-pessimism. The promises that agricultural development seem to hold did not materialise. This pessimism seemed to coincide with pessimism about Sub-Saharan Africa. Especially for Sub-Saharan Africa the hope was that economic development would be brought about by agricultural development. After the success of the green revolution in Asia, the hope was that a similar agricultural miracle would transform African economies. But this hope never materialised, agricultural productivity did not increase much in SSA (figure 1), and worse, the negative effects of the green revolution in Asia became more apparent, such as pesticide overuse and subsequent pollution. Also in Asia the yield increases tapered off. The sceptics put forward several arguments why agriculture is no longer an engine of growth2. For instance, the liberalisation of the 1990s and greater openness to trade has lead to a reduction in the economic potential of the rural sector: cheap imported Chinese plastic buckets out compete the locally produced pottery. On the other hand, it does mean cheaper (imported) supplies. With rapid global technical change and increasingly integrated markets, prices fall faster than yields rise. So, rural incomes fall despite increased productivity if they are net producers3. The integration of rural with urban areas means that healthy young people move out of agriculture, head to town, leaving behind the old, the sick and the dependent. It is often also the men who move to urban areas, leaving women in charge of the farm. This has resulted in the increased sophistication of agricultural markets (and value chains) which excludes traditional smallholders, who are poorly equipped to meet the demanding product specifications and timeliness of delivery required by expanding supermarkets. The natural resource base on which agriculture depends is poor and deteriorating. Productivity growth is therefore increasingly more difficult to achieve. Finally, multiplier effects occur when a change in spending causes a disproportionate change in aggregate demand. Thus an increase in spending produces an increase in national income and consumption greater than the initial amount spent. But as GDP rises and the share of agriculture typically decreases, the question is how important these multiplier effects are, especially when significant levels of poverty remain in rural areas, which is the case in middleincome countries. The disappointment with agriculture led many donor organisations to turn away from agriculture, looking instead to areas that would increase the well-being of poor people, such as health and education. Those organisations that still focused on agriculture, such as the CGIAR, were put under pressure to focus more on reducing poverty, besides increasing agricultural productivity. However, since the beginning of the new century, there seems to be a renewed interest in agriculture. A review of major policy documents5, including the well-publicised Sachs report and the Kofi Annan report, show that agriculture is back on the agenda again. The most influential report, however, has been the World Development Report 2008 of the World Bank6. This report argues that growth in the agricultural sector 1 contributes proportionally more to poverty reduction than growth in any other economic sector and that therefore alone, the focus should be on the agricultural sector when achieving to reach MDG 1. A reassessment of the role of agriculture in development seems to be required. This policy paper addresses several timely though complex questions: †¢ First, how can or does agriculture contribute to economic development, and in particular how does it relate to poverty? †¢ Second, the agricultural sector has changed considerably in the past decades: what are the main drivers of this change? †¢ Third, what is the relationship between economic or agricultural growth and pro-poor development? †¢ Fourth, how does agriculture relate to other sectors in the economy? †¢ Fifth, who is included and who is excluded in agricultural development, specifically focusing on small farms? †¢ And finally, if agricultural development is indeed important to economic development, then why, despite all the efforts and investments, has this not led to more successes? 2. Agriculture and economic growth This section presents a number of factual observations describing how the agricultural sector changed in terms of productivity, contribution to economic growth, and indicating the relevance of the agricultural sector for poverty alleviation in different regions. Background: some facts In the discussion of the role of agriculture in economic development, a leading question is how agriculture contributes to economic growth, and especially to pro-poor growth. There seems to be a paradox in the role of agriculture in economic development. The share of agriculture contributing to GDP is declining over the years (see figure 1). At the same time, the productivity of for instance cereal yields has been increasing (see figure 2). It seems that as agriculture becomes more successful, its importance declines in the overall economy. Of course, other sectors in the economy can be even more successful, such as the Asian Tigers.

Relationship Between Ethnic Minority And Women And The...

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Deceit and manipulation are the main features to this personality disorder. An associate professor of Psychology and Neuroscience from the University of New Mexico, and a District Judge from Denver, Colorado, stated in The Criminal Psychopath: History, Neuroscience, Treatment, and Economics, that individuals with psychopathic personality have a disproportionate impact on the criminal justice system (Kiehl and Hoffman, 2011). Psychopaths are 20 to 25 times more likely than non-psychopaths to be in prison and areShow MoreRelatedAnalysis Of Enzo Colombo s Article Reflections On Race, Diversity, And The Crossroads Of Multiculturalism 865 Words   |  4 PagesEveryday, we as human beings see men and women of different races and colors going about life. Some of these people are celebrities, our coworkers, and friends. People that are of different ethnic diversity than white Europeans are seen as the minority. 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