Importance of directing:
(i) Initiates action:
- Directing helps to initiate action among people in an organisation towards attainment of desired objectives.
(ii) Integrates employees’ efforts:
- Directing integrates employees’ efforts in the organisation in such a way that every individual effort contributes to the organisational performance. Thus, it ensures that individuals work for the organisation’s goals.
(iii) Guides employees to fully realise their potential:
- Directing guides employees to fully realise their potential and capabilities by motivating and providing effective leadership.
(iv) Facilitates introduction of needed changes:
- A manager reduces resistance to change through motivation, communication, and leadership, and develops required cooperation in introducing changes in the organisation.
Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:
(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.
On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23, using 2020 – 21 as the base year.
Year | Nominal GDP | Nominal GDP (Adjusted to Base Year Price) |
2020–21 | 3,000 | 5,000 |
2022–23 | 4,000 | 6,000 |