ENTREPRENEURSHIP QUARTER 4

• Accountability - is the obligation of an individual, firm, or institution account for its activities, accept responsibility for them and to disclose the results in a transparent manner.
• Accounting - Is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, Interpreting and communicating financial information.
• Asset - is something valuable that an enterprise owns, benefits form, or has use of, in generating income.
• In accounting, an asset is something an entity has acquired or purchase, and which has money value (its cost, book value, market Value or residual Value).
• Business Operation - consists of handling money and recording day to day transactions, computations, buying of materials and supplies, and checking of facilities
• Budget - is one of the most important administrative tools, a budget serves also as a plan of action for achieving quantified objectives, standard for measuring performance, and devise for coping with anticipated adverse situation.
• Budget - It is the estimate of cost, revenue, and resources over a specified period, reflecting a management 's reading of future financial condition.
• Balance Sheet - is one of the core financial statement used in financial reporting, along with the income statement and statement of cash flow.
• Balance Sheet - A financial statement that provides a snapshot of a company's financial position point in time.
• Balance Sheet - It reports a company's assets, liabilities, and shareholders' equity.
• The purpose of Balance Sheet is It helps investors, creditors and other stakeholders evaluate the company's financial health, solvency, and ability to meet its financial obligations.
• Equity - is the right to an asset or property, held by a creditor or a business owner.
• Evaluation - deals with measuring business operations variable based on identified criteria.
• Liabilities - are the accounts and wages payable, accrued rent and taxes, trade debts, and short or long- term loans.
• Owners equity - is termed a liability because it is an obligation of the firm to its owner.
• Procurement - is a complete process of obtaining goods and services from preparation and processing of a requisition to receipt and approval of the invoice.
• Finance - deals with matters related to money and the markets.
• Monitoring - Is supervising activities in progress to insure they are on course and on schedule in meeting the objectives performance target.
• 6 Common Techniques

  • Direct Observation
  • Dialogue with workers
  • Dialogue with customers
  • Reviewing the market plan
  • Reviewing the production plan
  • Controlling supply and logistics hands-on
• Prioritization matrix criteria

  • Type of Data Collection
  • Frequency of Analysis
  • Type of Data Processing
  • Responsibilities
• Balance Sheet

  
• SOME COMMON TOOLS FOR MONITORING AND SUPERVISING BUSINESS OPERATION

  
• SOME COMMON TOOLS FOR MONITORING AND SUPERVISING BUSINESS OPERATION

  1 Bar Graph

  2 Benchmarking

  3 Checklist

  4 Program Matrix

  5 Indicator Matrix