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Showing posts from March, 2023

Accounting software - Classification of Expenses

  XERO classifies expenses types as cost of goods sold (Direct costs), Overhead and Expense. MYOB classifies expenses types of Cost of sales and Expense. Business may have different views on accounting for cost of sales.   Questions like whether to include lease, energy, freight and warehousing can arise. Consistency or long-term usage should be preferred. 1 Overheads are the expenditure which cannot be conveniently traced or identified with any particular revenue unit, unlike operating expenses such as raw material and labour. Essentially, there are two business overheads, administrative and manufacturing.2 These can be fixed, meaning they can be the same amount over time or semi-variable, like power and telephone usage that can slightly vary based on usage. They can also include marketing expenses. Selling, General & Administrative (SG&A) is the term that should be used for overheads in the Profit and Loss. These include all non-production expenses in any...

Ways to keep your Motivation

In trying to motivate ourself or others , outlooks are the ones to modify than trying to be a different person. 1) Lookback and see how far you have come or look for the commitment you  already put in. 2) It often gets hard in the middle of achieving a task or progressing towards a goal.  Try to keep this middle part short by breaking goals into sub goals. 3) To increase learning from negative feedback, try giving advice to others who might be struggling with a similar problem.  People usually disengage because negative feedback feels emotionally bad. Tell others why you failed, so they don't fail likewise. This increases your learning from the negative feedback. Have space for thoughts like "that enriched me somehow" and "that made me the stronger person that I am" in relation to those negative experiences. 4) Pursue intrinsic motivation. This happens when to engage in activities that feels like an end in itself. This are activities you enjoy and involve fun. G...

The big five markers

Dwelling into personalities that could be used for human resource development. According to trait theory or personality disposition theory 1 ,  a trait is a  habitual pattern of behaviour, thought and emotion that are relatively stable over time. And five traits can be more or less be looked upon in an individual. 2 1) Extroversion (outgoing/energetic vs. solitary/reserved) Extraversion is characterized by breadth of activities (as opposed to depth). A pronounced engagement with the external world. Meanwhile introverts  are more independent of their social world than extraverts. People are a combination of extraversion and introversion. 2) Neuroticism and Emotional stability  (sensitive/nervous vs. resilient/confident) Neuroticism is the tendency to experience negative emotions, such as anger, anxiety, or depression. These are negative emotions that can cause instability in the metal composition. Its definition being low tolerance to stress or aversive stimuli. At th...