Types of Employees

Types of Employees

The employee can be classified in different way. Here we explain the type of employee on the bases of duration.

1. Permanent Employee

The employee who is hired for long period of time and he is expected to retire from the organization is termed as permanent employees. This type of employee is usually offered in public sector organization.

The main advantage of permanent employee is the metal satisfaction of employee and he can focus on the work. The great disadvantages of this type of employment are to control performance and management of poor attitudes.

2. Contract Employees

Employee hired for a specific period which normally vary from one to five year. Employee under this arrangement is offered periodical contract of employment. This type of employment is preferred in private sector organization.

The great advantage of this type of employment is that entity can periodical perform need assessment of its human resource requirements and it is also very effective tool to control the performance of employees.

3. Daily Wage Employees

Employee is paid on the number of days worked during the month and paid monthly or weekly. This type of employment is normally offered for housekeeping related services where there are no special skills are required and replacement is easily available in the market .i.e. Guard, cook, peon, cleaner.

The main advantage of this type of employment is reducing the cost human resource because employees are paid only for actual worked day. The great disadvantage high employees’ turnover.

Types of Sales

Types of Sales

Sales is basically is income for the entity and is credited. Sale can be categories into three classes in terms of recording in the books of accounts.

1. Cash Sales

In cash sales full amount of cash is received and the amount received is debited being asset to the entity. A cash sale result in increase in asset in the form of cash and therefore cash is debited and sales are credited due to increase in income.

2. Credit Sale

Credit sale is credit as income being increase in come while the related customer to whom sales is made debited being asset. it is important to note that receivable is asset because it is expected to be converted in cash within twelve month.

3. Partly paid Sales

Sales can be partly paid. it means that some amount of sales is received and balance will be received in future . in such cases the sales account is credited with full amount and cash received and customer is debited for cash received and receivable respectively

Types of purchases

Types of purchases Purchases are one of the important activities in the business. One can judge the importance volume of purchases transaction that separate primary entry books are maintained for purchase known as purchase journal.  Purchases transaction can be classified into three categories 1. Cash purchases Purchases are made by making full payment in cash. Purchases account is debit with full amount and cash or bank is credited with the amount appearing on bill. 2. Credit Purchases In Credit purchase the payment is deferred for future. In this case the purchases are debited and supplier account is credited and when payment is made then supplier account is debited and cash and bank account is credited. 3. Partly paid purchases In partly paid purchases some amount is paid at the time of purchase and balance amount is paid in future. In this case purchases are debit with full amount and cash and supplier account is credited for cash paid and cash to be paid in future respectively. Journal Entries Example of Different Type of Purchases ABC made a purchases of Rice of $ 200 on Cash Date Particulars Dr Cr Purchases A/C 200       Cash A/C 200 ABC made Purchases of Rice $ 300 from Aslam on Credit Purchases A/C 300       Cash A/C 300 3. ABC Co made purchases 400 from Waqar and made payment $ 200. Purchases A/C 400       Cash     A/C 200       Waqar A/C 200

Characteristic of Good Questionnaires

  

 Characteristic of Good Questionnaires

The following are important characteristic of good Questionnaire

1. Limited Number of questions
2. Question must be clear
3. Question must be have definite answer in yes and no
4. Question language must be simple and easy
5. Question must be in a logical sequence
6. Question on sensitive issue must be avoided or planned very carefully

Methods of filling questionnaires

1. Question may be asked on telephone
2. Questions may be sent by post
3. Question may be ask in personal interview

Types of Share Issue

Types of Share Issue

The following are the important types of share issue

1. New Subscription 

This is also known a public offer . The organization set a fixed price at which the shares can be purchased by General Public.

2. Right Issue 

The second type is to allot shares to current share holder of the organization. This issue is normally proportionate to number of share held by existing share holder. This issue normally below the market price.

3. Issue by Tender 

 This is also offer to general public, however, in this case the price is not set by the management rather share prices are issued to the highest bidder.

4. Placing of Shares 

 This is the combination of General public offer and offer to private party normally a commercial bank. The bank take shares from the entity and offer to its client. However some percentage is offer to general public as well.