It is absolutely true that you are the master of your mind. It’s also true that you can make your own decisions. By virtue of your ability to think for yourself you can reflect on aspects that can lead to desired success, especially, in terms of your career growth and development, and so, you may want to settle for career change or job change. But, if you are the most responsible person of your family and don’t want your unhappiness to have any impact on your family members, then, you should consider various aspects before you quit your present job even if you hate it, because there are times, of course, it is important not to make mistakes.

If you are doing a job that you hate or have an aversion to it due to certain reasons, it does not mean that you get resistant to change or you dare not agree with risk taking factor, but it is out of responsibility and care for your family members, as you know what is best for you as well as for your family both in the short run and long run. Though you are in favor of taking risk in terms of your job change, yet you don’t want to pose risks for your children in terms of their education and other responsibilities of your whole family. Since you cannot control everything due to uncertainties in times to come, you need to accept it. It’s a fact that every sensible person may clearly see and understand. Therefore, all in good time, it is important for you to continue your present job.

You can go for a career change or job change when the time is right. It does not mean that you should sit idle and wait and you need not think about job prospects, but, all that you need to do is to make effective planning that leads you to find your dream job. In doing so, you should plan and implement change in such a way that you leave no stone unturned. The most helpful and effective ways are: you can attain higher education, develop soft skills and gain good experience. The reason why the aforementioned things are important is that they can enable you to find job you desire and deserve. You will also be in a position to manage your situation effectively while maintaining your family responsibilities successfully.

There are several evidences that reveal negative consequences due to hasty decisions or ineffective planning of the people who quit their jobs they hate. As apposed to their expectations, situations became worse than they have ever been. It is thus very necessary for any responsible person not to think of quitting a job, unless it is backed by effective planning and confidence and calculated risk.

Written by:
K.A.Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Software Developer
BBA, MBA-Finance,(M.Com),M.Phil-Financial Management, (PhD-Management)
MA-English, M.Phil-English
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

February 7, 2015 Fareed Siddiqui

How the correct use of conjunctions helps you improve business English communication

Effective communication is when one talks in clear and simple terms to facilitate information sharing process and to substantially contribute to the success of a business. It’s a verbal speech or other methods of relaying information that provides the information across the organization or to the intended recipients. Effective communication is vital for both business managers and the employees in order to carry out the related business processes, procedures efficiently and to improve the productivity and performance. Effective Business English communication requires speaking and writing English language fluently and confidently as well. In addition to considering other important factors of effective communication, it is also important to take into account the correct use of conjunctions.

A conjunction is a word that is used to connect words, phrases, sentences and clauses. Conjunctions are to be classified into different groups according to their role in the sentences, Correlative, Coordinating and Subordinating. All these types of conjunctions are much helpful to allow us to communicate effectively and efficiently.

They are as follows:

Correlative Conjunctions: Either-or, neither-nor, whether-or, not only – but also, as-as, if -then
Coordinating Conjunctions: and, so, or, nor, for, but, yet
Subordinating Conjunctions: because, since, while, before, after, unless, whereas, once, that, wherever, whenever, although

It must be noted that the correct use of conjunctions can not only help a person to maintain the flow of communication, but it also aids greatly in improving business English communication. When considering how to use the conjunctions correctly to improve the business English communication, the first thing that comes in importance is to know and understand the various conjunctions that perform specific functions in the sentences. In addition, it involves differentiating between conjunctions and connectives, so that one may be able to use them accurately. Besides, it also necessitates to consider different clauses in which the particular conjunctions are to be used having their own meaning and functionality.

In this way, conjunction is one of the most powerful part of a sentence that helps us maintain a strong flow of communication. A good knowledge and understanding of various conjunctions enables us to maintain both ways of communication, verbaland written conveniently. In addition, the ability of using conjunctions appropriately will aid us greatly in speaking in a confident manner.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

February 6, 2015August 14, 2015 Fareed Siddiqui

Accounting- Need and Importance

Accounting is very much connected with our personal lives in so far as it is in respect of every business. We all with intent or unknowingly generate accounting ideas in a way when we plan what we will do with money. We need to plan how much money will be spent whilst how much of it will be kept back.

Being known as “The Language of business”, accounting is the basic need of a business organization to find out where it stands. It is of great essence to provide the basis for planning and budgeting while dealing with measurement of economic activities and communicating financial information to the users for decision making. It is also meant for protecting the properties of business and communicating the results obtained from the financial statements to the intended parties like share holders, debtors, creditors, and investors while meeting the legal requirements. Accounting is included in those fields that are growing faster in this era. It is dynamic at the present time and meets the growing demands of trade, commerce and industry. It is appropriate to mention here that the advent of industrial revolution and technological advancements have given rise to widen more business prospects at the same time as bringing about change in the domain of accounting by which it has now begun to be known as a tool of management for planning and controlling process. Thus, it can be rightly said, in the present day and age, no economic activity can be carried out successfully with no thought of accounting.

According to American accounting association, accounting has been defined as, “The process of identifying, measuring, and communicating information to permit judgment and decision by the users.” Yet another definition of American Institute of Certified Public Accountants (AICPA) is that “Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character and interpreting the results thereof.”

Accounting entails recording, classifying and summarizing of business transactions. It is a process of identification, measurement and communication of economic information involving four interconnected phases. They are outlined herein: At the outset, the first phase is meant to record the economic events or transactions -depending upon their occurrences, chronologically in the books of accounts – called journals. This process is known as journalizing. Next comes the phase of ledger-posting: It is the process by which all the transactions are synthesized account-wise so that the accumulated balance of each of those accounts can be determined. The process of ledger posting is vitally important as it helps in ascertaining the net effect of various transactions during a given period. The subsequent stage is preparing the trial balance which involves the arrangement of all ledger accounts having been aggregated into debit and credit balances. This activity enables to check and confirm whether the total of debits is equal to that of credits. Finally, comes the phase of preparing financial statements. This phase is meant for finalization of accounts by measuring profit & loss account and preparing Balance Sheet- at the end of accounting period.

Every business needs to have two prime objectives, such as, to earn profit and to remain solvent and the information in relation to these objectives while ensuring whether they are being accomplished is provided by accounting. Accounting is important in the sense that it enables a business house to maintain complete and orderly prepared records of economic events by way of preparing books while facilitating the information for various purposes. Furthermore it helps to ascertain the net results in terms of profit or loss (Income Statement) and providing the information about financial position of the business (Balance Sheet) to the owners of a business relating to what the entity owns in the form of assets and what it owes in the form of liabilities at a particular point of time. Accounting information is valuable to the concerned managers too so as to ensure whether the business entity is being directed as it should be, and simultaneously it is a means to provide the information to the investors to find out the future prospects of business. It is also useful for the employees and customers in order to know the condition of the business entity.

Accounting is the basis and of a great assistance to management for planning, controlling and decision making process. It is with the help of accounting information that the performance of an entity can be appraised, at the same time as, its methodical records make possible to eliminate the frauds and the thefts. Furthermore, being concerned primarily with the creation of financial information for its users, accounting provides useful information for ascertaining the effectiveness and efficiency of a business. Hence, accounting is must for every business. Exclusive of accounting leads to create chaos and discrepancies in business transactions.

Last but not least, accounting ought to be there for a business to run with accuracy, efficiency and effectiveness in terms of overall economic activities and their results. Accounting helps the management in planning and decision making process. There is no replacement of sincere and talented accountants, nor of their capabilities, nor of their diligence because their services offered in keeping track of every single one economic event while protecting entire business properties are so strong and efficient that the need of even highly paid bodyguards of businessmen is eclipsed. As it goes in the words of Elvis Presley, “I don’t have any use for bodyguards, but I do have a specific use for two highly trained certified public accountants.”

Take a look at Professional Presentations

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (MSc-Software Engineering)
(PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

February 6, 2015February 6, 2015 Fareed Siddiqui

Visual Basic – The Importance of Visual Basic programming Language

Visual basic is one of the most popular computer programming languages. It enables programmers to create both standalone and distributed applications. Being user friendly and interactive, it provides various effective tools to create windows based applications conveniently.

Visual Basic is regarded as the third generation event-driven programming language. It was released in 1987. Being the first visual development tool from Microsoft, it is considered as one of most powerful programming languages. As compared to other computer programming languages, such as, C, C++, it is easy to learn and understand provided that one has determination and dedication to do so.

Visual basic programming language allows programmers to create software interface and codes in an easy to use graphical environment. VB is the combination of different components that are used on forms having specific attributes and actions with the help of those components. On the one hand it allows programmers to develop widows based applications rapidly; on the other hand, it helps greatly in accessing data bases, using ADO while letting the programmers use ActiveX controls and various objects. While it is intended more to develop applications, it is also useful for games development for particular or limited purposes, unlike C++ that is more suitable for developing games.

As compared to other languages it may be slower though, yet it is flexible and it can be rightly said that things that are difficult in other languages are comparatively easier in visual basic programming language. It may also be said that, since it is one of the most popular programming languages, lots of related books and material and other resources are available and can be accessed for developing programming skills at visual basic programming language conveniently.

One of the most important things to be considered with regard to programming in Visual basic is that the structure of VB is so designed that it allows programmers to create executable code – Exe files. It enables programmers to develop programs that can be used as front end to databases. Besides, it’s with the help of visual basic tools, one can change the abstract ideas into programs or into the whole software while it allows revising and modifying the programs fittingly.

Once you have advanced your skills at visual basic programming language, you can move to develop your skills at other languages, such as, VB script. However, it all depends upon your interest and desire. It must be noted that the sole objective of any computer programming language is to save time and efforts of the users while making their lives easier. VB is one of the most important programming languages having a powerful front-end tool which is able to achieve simple and complex business requisites in and effective and efficient manner.

Written by:

K. A. Fareed (Fareed Siddiqui)

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Module 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

February 6, 2015August 19, 2015 Fareed Siddiqui

How your will to win will lead to personal excellence

“The will to win, the desire to succeed, the urge to reach your full potential, these are the keys that will unlock the door to personal excellence.”

Your will is the part of the mind with which you can consciously conclude things. It’s the power to make decisions. Will is will power. It’s a choice or determination. It’s your mental power manifested as wishing or intending – The power of control over one’s own actions or emotions. Will power is important in nearly all the areas of life. The inner power and persistence provide tremendous results for everyone enabling to control unnecessary and harmful impulses.

Giving anytime or a thought to development of will power is an important thing to do in life. It is nothing but the will power that helps us empower our life to change it for the better. True, nobody’s life is perfect, at some point of time in lives; the moments make us realize that the life is not filled with perfect moments. Nevertheless, everyone has the power to better their life and make it as meaningful as possible by discovering self and being headed towards the proper direction. And it’s not that how much you know about your life, but it’s that how you live your life that counts. Hence, one should be committed to personal excellence and strive accordingly to live life of greater quality.

Personal excellence does not mean to be a perfectionist. Nobody is perfect in this world and everybody has his own virtues and flaws. By personal excellence I mean finding imperfections to refine personality including influencing and controlling the traits that need to be developed while using life’s imperfections perfectly. Therefore, it is rather important to stress that we can at least chase perfection to transform our lives in great ways. As the saying goes, “Perfection is not attainable, but if we chase perfection, we can catch excellence.” Thus, the will to win or pursuing goals with great intensity and relentlessly will certainly payoff in the end despite the fact that it brings more pains than gains sometimes.

Trying to attain personal excellence means doing something great or achieving greatness and “greatness on the outside begins within.” Personal excellence is a continuous process of self-renewal on the basis of maintaining a systematic approach towards developing personal skills. The quest for gaining personal excellence is a life long journey of self-discovery which is the process of acquiring insight into one’s own personality.

Considering yourself where you are on the success curve and where you should have been, you may have observed that others who, even though, are not as smart as you are, yet they are more successful. If such is the case, it’s related to the confidence level that you have in yourself. Self-confidence is one of the most important skills you can have. Having confidence in yourself and in your powers and abilities is a great way to win you in your objectives of life. Self-confidence comes with success and wins, the more you win, the more self-confident you become. Hence, if you want to achieve greatness, you have to believe yourself first that you can do so.

If you ever think that your personal growth has left you feeling the need to reinvent yourself, it is most probably because of being unaware of new knowledge and information and technological advancements. This could also be due to not having acquired the required skills. It must be noted that the way to personal excellence requires you to enhance you awareness and develop the necessary skills to a desired level working on that constantly. You need to spare the required time to do this and taking out required time to work for attaining knowledge and building skills in a constant manner again depends on your will power.

Achieving something great or leading oneself towards attaining personal excellence needs making sacrifice. This requires one to be out of the comfort zone which includes all your daily routines. Some people seem to have long list of things to get done without considering the importance of making the required efforts. If you put forth the efforts, good things will be bestowed upon you in due course of time.

There is no point at which it may be said that one cannot be successful in pursuit of one’s personal goals or achieving one’s highest potential in life that could lead to personal excellence. Achieving personal excellence involves forming personal goals and pursuing them by ardent or extremely passionate enthusiasm. Just wishing for something will never happen, because a wish is just a wish. To wish a thing is easier than its achievement. It is just a flight of the imagination- In that there is no involvement of earthly realities – it is devoid of actual requirements and practical aspect. But then again, there must be consideration of all relevant factors, to put sufficient efforts in order to achieve your goals. In doing so, you need to have a strong will power. And the strong will power is built with a bit of effort. But it can bring tremendous results. Then, no wonder you reach your full potential and achieve success in all that you do.

Take a look at Professional Presentations

February 6, 2015February 6, 2015 Fareed Siddiqui

What is Journalizing in Financial Accounting?

The process of Financial Accounting entails some essential functions. One of the main functions of financial accounting is recording. Recording of business transactions is regarded as the primary function of financial accounting.

The process of recording all transactions, that are of financial character, chronologically in a book called journal or a book of original entry, is known asJournalizing. In this way, an entry which is made in relation to a particular business transaction is called as a Journal entry. Thus, the process of recording every single business transaction includes some necessary steps that are discussed below in brief.

It is important to make a careful analysis before any business transaction is recorded in Journal. It must be noted that merely debiting and crediting is not sufficient, but it is important to ascertain what accounts are involved in that particular business transaction. Ascertaining the nature of account as well as identifying the correct account eliminates the time and efforts for corrections, while it leads to maintain accuracy in the process of recording business transactions.

It is worth mentioning here that the process of recording business transactions requires one to have a good knowledge of accounting principles that are associated with dual aspect concept, meaning every business transaction has two fold effects. In this way, which rule of debit and credit is applicable, must be determined. It also leads to debit or credit particular account in an efficient manner.

The following details come next in importance:

The recording date of transaction

Writing the name of account to be debited or credited.

Ledger Folio or Reference

Writing a brief narration

It is to be noted that the abbreviation Dr. is used for debit and Cr. is used for credit.

If Microsoft Excel or any accounting software is used, specific columns are to be used to record the business transactions and entering the details accordingly. However, the important aspect of recording business transactions is on the basis of double entry system of accounting that indicates every single transaction has dual aspects that affects changes in the balance sheet and income statement items in such a manner that the basic accounting equation, that is, Assets = Liabilities + Owners’ Equity, holds the balance at all times.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

Professional Articles on Business & Management, Management Consulting, Software Engineering and Self Improvement

SAWF Educational Academy – Consulting and Training Services — [A Website created for educational, training and consulting purposes.]

Month: February 2015

A brief presentation about Business Policies

A brief Presentation on Management Concepts

List of Articles for Financial Accounting, Management Accounting and Finance

Software Modules for Financial Accounting, Financial Reporting and Financial Analysis

Think before you quit a job

How the correct use of conjunctions helps you improve business English communication

Accounting- Need and Importance

Visual Basic – The Importance of Visual Basic programming Language

How your will to win will lead to personal excellence

What is Journalizing in Financial Accounting?

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