Question

Mr. Ashwin was the founder of a publishing company specializing in accounting books.

Within a short span of time, the company prospered and grew very fast. Its sales

rose from Rs.60000 the first year to Rs. 600000 three years later. The editing, production

and sales staff grew almost as fast.

But the company was having problems, and of late uncertainty and confusion grew in

the company. New people were making decisions to the best of their ability but many of

them did not fit together. One of Mr. Ashwin‟s key associates suggested that the

company ought to have better planning and certainly needed clear policies to guide

decision making, but Mr. Ashwin was unimpressed. His response was that if he took time

off to plan and develop policies today, he might not have a company tomorrow, and that

he had no choice but to spend his time meeting today‟s problems as they came up.

Questions

1. If you were one of the new managers in the company and had taken a course in the

basics of management, what would you say to Mr. Ahwin?

2. Outline him exactly how would you show him that planning and policy making are

important to the company if it has to grow effectively.

3. What would be your possible suggestions for the betterment of the company?​

Answer 1

Answer:

Books of Accounts for Businesses Engaged in Sales of Goods or Properties

General journal.

General ledger.

Cash receipt journal.

Cash disbursement journal.

Sales journal.

Purchase journal.

Answer 2

1. If you were one of the new managers in the company and had taken a course in the