CHAPTER – I

A Study an Statement of Financial Position Primary Agriculture

Co-Operative Credit Society

1.1 INTRODUCTION:

In derivatives trading or for financial instruments, the concept of a position is used

extensively. There are two basic types of position: a long and a short. Generally speaking,
long positions stand to gain from a rise of the price of the instrument and short positions from
a fall (but with options the situation is more complicated).

Options will be used in the following explanations. The same principle applies for futures and
other securities. For simplicity, only one contract is being traded in these examples.

The statement of financial position is another name for the balance sheet. It is one of
the main financial statementsand it reports an entity's assets, liabilities, and the difference in
theirtotals.

The structure of the statement of financial position is similar to the basic accounting
equation. For instance, a corporation will report amounts in the following format: Assets =
Liabilities + Stockholders' Equity. A nonprofit organization's format will be: Assets =
Liabilities+ NetAssets.

The statement of financial position must reflect the basic accounting principles and
guidelines such as the cost, matching, and full disclosure principle. Accordingly, the
statement of financial position is more meaningful when it is prepared under the accrual
method of accounting.

The statement of financial position, often called the balance sheet, is a financial
statement that reports the assets, liabilities, and equity of a company on a given date. In other
words, it lists the resources, obligations, and ownership details of a company on a specific
day. You can think of this like a snapshot of what the company looked like at a certain time
in history.
MEANING:

Net assets is defined as total assets minus total liabilities. In a sole proprietorship the

amount of net assets is reported as owner's equity. In a corporation the amount of net assets is

reportedas stockholders'equity.

Long position[edit]

 When a trader buys an option contract that he is not short, he is said to

be opening a long position.
 When a trader sells an option contract that he is already long, he is said to be closing a
long position.

Short position[edit]

 When a trader sells an option contract that he is not long, he is said to

be opening a short position.
 When a trader buys an option contract that he is already short, he is said to be closing a
short position.

Net position[edit]

Net position is the difference between total open long (receivable) and open short
(payable) positions in a given asset (security, foreign exchange currency, commodity, etc.)
held by an individual. This also refers to the amount of assets held by a person, firm,
or financial institution, as well as the ownership status of a person's or institution's
investments.

DEFINITION

A Balance Sheet is a statement of the financial position of a business which states the
assets, liabilities, and owners' equity at a particular point in time. In other words, the balance
sheet illustrates your business's net worth. Financial statements (or financial report) is a
formal record of the financial activities and position of a business, person, or other entity.
 Relevant financial information is presented in a structured manner and in a form easy to
understand. They typically include basic financial statements, accompanied by a management
discussion and analysis.

1. A balance sheet or statement of financial position, reports on a

company's assets, liabilities, and owners equity at a given point in time.
2. An income statement or statement of comprehensive income, statement of revenue
& expense, P&L or profit and loss report, reports on a
company's income, expenses, and profits over a period of time. A profit and loss
statement provides information on the operation of the enterprise. These include sales
and the various expenses incurred during the stated period.
3. A Statement of changes in equity or equity statement or statement of retained
earnings, reports on the changes in equity of the company during the stated period.
4. A cash flow statement reports on a company's cash flow activities, particularly its
operating, investing and financing activities.

For large corporations, these statements may be complex and may include an extensive
set of footnotes to the financial statements and management discussion and analysis. The
notes typically describe each item on the balance sheet, income statement and cash flow
statement in further detail. Notes to financial statements are considered an integral part of the
financial statements.

Four Types of Financial Statements

1. Statement of Financial Position
2. Income Statement
3. Cash Flow Statement
4. Statement of Changes in Equity

Statement of Financial Pisition

Statement of Financial Position, also known as the Balance Sheet, presents the financial
position of an entity at a given date. It is comprised of the following three elements:

 Assets: Something a business owns or controls (e.g. cash, inventory, plant and
machinery, etc)
  Liabilities: Something a business owes to someone (e.g. creditors, bank loans, etc)

 Equity: What the business owes to its owners. This represents the amount of capital
that remains in the business after its assets are used to pay off its outstanding
liabilities. Equity therefore represents the difference between the assets and liabilities.

Income Statement

Income Statement, also known as the Profit and Loss Statement, reports the company's
financial performance in terms of net profit or loss over a specified period. Income Statement
is composed of the following two elements:

 Income: What the business has earned over a period (e.g. sales revenue, dividend
income, etc)

 Expense: The cost incurred by the business over a period (e.g. salaries and
wages, depreciation, rental charges, etc)

Net profit or loss is arrived by deducting expenses from income.

Cash Flow Statement

Cash Flow Statement, presents the movement in cash and bank balances over a period.
The movement in cash flows is classified into the following segments:

 Operating Activities: Represents the cash flow from primary activities of a business.

 Investing Activities: Represents cash flow from the purchase and sale of assets other
than inventories (e.g. purchase of a factory plant)

 Financing Activities: Represents cash flow generated or spent on raising and repaying
share capital and debt together with the payments of interest and dividends.

Statement of Changes in Equity

Statement of Changes in Equity, also known as the Statement of Retained Earnings,

details the movement in owners' equity over a period. The movement in owners' equity is
derived from the following components:
  Net Profit or loss during the period as reported in the income statement

 Share capital issued or repaid during the period

 Dividend payments

 Gains or losses recognized directly in equity (e.g. revaluation surpluses)

 Effects of a change in accounting policy or correction of accounting error

1.2 Structure of Co-Operative Society

It is often aid that cooperation is strong in practice but weak in theory. Although not
quite true, it is a fact that cooperation has been little researched, has weak links with
mainstream economics and partly for these reasons, among others, the theory and practice
remains surprisingly unfamiliar.

1. BACKGROUND AND ORIGINS

The cooperative form of enterprise is in extensive use throughout the world. It is

applied in most market economy countries and to an increasing extent in the newly
developing and CEE countries. Cooperation is an age-old way of achieving a goal that is
beyond the resources of an individual or when working together offers a more practical or
favourable solution. The cooperative as a distinct form of company is already over a 150-
years old. Over the years quite substantial commercial and industrial operations have
developed on this basis in many countries. The central principles of a cooperative society are
that it is open to all, unlimited in membership and, as an alternative to producing a profit on
capital invested, produces benefits in the form of services for its members. The most general
goal is to create a force on the market consisting of many small companies working together
for the same objectives, and in which the aims and methods are decided upon democratically
in advance according to the principle that the benefit of the collectively owned and operated
business accrues as evenly as possible to all participants.
1.3 Types of Society

1.4 Agricultural

While pastoral and horticultural societies used small, temporary tools such as digging
sticks or hoes, agricultural societies relied on permanent tools for survival. Around 3000
B.C.E., an explosion of new technology known as the Agricultural Revolution made farming
possibleand protable. Farmers learned to rotate the types of crops grown on their elds and to
reuse waste products such as fertilizer, leading to better harvests and bigger surpluses of food.
New tools for digging and harvesting were made of metal, making them more eective and
longer lasting. Human settlements grew into towns and cities, and particularly bountiful
regions became centers of trade and commerce. This is also the age in which people had the
time and comfort to engage in more contemplative and thoughtful activities, such as music,
poetry, and philosophy. This period became referred to as the dawn of civilizationby some
because of the development of leisure and humanities. Craftspeople were able to support
themselves through the production of creative, decorative, or thought-provoking aesthetic
objects and writings. As resources became more plentiful, social classes became more
divisive. Those who had more resources could aord better living and developed into a class of
nobility. Dierence in social standing between men and women increased. As cities expanded,
ownership and preservation of resources became a pressing concern.

1.5 Feudal

The ninth century gave rise to feudal societies. These societies contained a strict
hierarchical system of power based around land ownership and protection. The nobility,
known as lords, placed vassals in charge of pieces of land. In return for the resources that the
land provided, vassals promised to gut for their lords. These individual pieces of land, known
as edams, were cultivated by the lower class. In return for maintaining the land, peasants
were guaranteed a place to live and protection from outside enemies. Power was handed
down through family lines, with peasant families serving lords for generations and
generations. Ultimately, the social and economic system of feudalism would fail, replaced by
capitalism and the technological advances of the industrial era. 2 Industrial Society In the
18th century, Europe experienced a dramatic rise in technological invention, ushering in an
era known as the Industrial Revolution. What made this period remarkable was the number of
new inventions that inuenced people's daily lives. Within a generation, tasks that had until
this point required months of labor became achievable in a matter of days. Before the
Industrial Revolution, work was largely person- or animal-based, relying on human workers
or horses to power mills and drive pumps. In 1782, James Watt and Matthew Bolton created a
steam engine that could do the work of 12 horses by itself. Steam power began appearing
everywhere. Instead of paying artisans to painstakingly spin wool and weave it into cloth,
people turned to textile mills that produced fabric quickly at a better price, and often with
better quality. Rather than planting and harvesting elds by hand, farmers were able to
purchase mechanical seeders and threshing machines that caused agricultural productivity to
soar. Products such as paper and glass became available to the average person, and the
quality and accessibility of education and health care soared. Gas lights allowed increased
visibility in the dark, and towns and cities developed a nightlife.

1.4 Scope of the Co-Operative Society

The five basic characteristics of cooperatives are as follows: (1) Organisation of the
poor (2) Membership is voluntary (3) Absence of exploitation (4) The role of bank (5)
Subsidies.

The scope and meaning of cooperatives has undergone radical change. During the
colonial period it was our realisation that peasantry was the most exploited group of people.
The industrial policy that the colonial regime had adopted was fatal for small artisans and
workers engaged in cotton industry.

Gandhiji realised that if the cultivators were not rescued from the onslaught of
industrial development, the village would be ruined. The plough, therefore, has always been
the hope and glory of the people. It was emphasised that the cultivators had to be financially
assisted to increase their farm product and thus made India self-sufficient.

(1) Organisation of the poor:

Theoretically, the cooperative society has no scope for the membership of the rich. In
fact, the major function of a cooperative society is to provide credit facilities to the peasants
for productive purposes only. It does not give credit for fulfilling social obligations. Thus, a
cooperative society is an association of the poor peasants for meeting their productive needs.
(2) Membership is voluntary:
Membership to a cooperative society is voluntary. A peasant should assess his needs
and accordingly take membership to a particular society. For instance, where a person does
not have any cattle or sugarcane crop, why should he be member of a dairy or sugarcane
growers cooperative society. A cooperative society has definite objectives and those who find
possibility of their objectives fulfilled should opt for membership.

(3) Absence of exploitation:

A cooperative society inherently denies exploitation of its members and consumers.
Basically, the society takes care of the mutual economic benefits of its own members. In this
way, the cooperative society rejects any exploitation which was the basis of the
intermediaries

1.5 Need of the Co-Operative Society

In India, there is a plethora of banks providing almost all services that an individual
requires. But most of the banks that people use are either private (which makes up a major
chunk of the numbers) or nationalised banks. However, there is another sector of banks that is
used by a large number of the middle class sections of the society --co-operative banks.

Co-operative banks are small-sized units organized in the co-operative sector which
operate both in urban and non-urban centers. These banks are traditionally centered around
communities, localities and work place groups and they essentially lend to small borrowers
and businesses.

The term Urban Co-operative Banks (UCBs), though not formally defined, refers to
primary cooperative banks located in urban and semi-urban areas. These banks, until 1996,
could only lend for non-agricultural purposes.

However, today this limitation is no longer prevalent. While the co-operative banks in
rural areas mainly finance agricultural based activities including farming, cattle, milk,
hatchery, personal finance, et cetera, along with some small scale industries and self-
employment driven activities, the co-operative banks in urban areas mainly finance various
categories of people for self-employment, industries, small scale units and home finance.
 Co operative Banks in India are registered under the Co-operative Societies Act. The
cooperative bank is also regulated by the RBI. They are governed by the Banking
Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.

These banks provide most services such as savings and current accounts, safe deposit
lockers, loan or mortgages to private and business customers. For middle class users, for
whom a bank is where they can save their money, facilities like Internet banking or phone
banking is not very important.

1.6 Research methodology

Co-operative sector is a third sector of Indian economy after public and private sector.
Its major achievements are agricultural and rural developments. Today thousands of co-
operative societies have been working in the field of agriculture, housing, marketing,
banking, manufacturing and so on. Now a days co-operative organization has become a way
of life. These organizations are playing important role in economic progress of weaker
sections of the society. Co-operative sector in India has made considerable progress and
diversified its activities, so that India has become world’s largest co-operatives sector. Indian
dairy is an important part of agriculture enterprise but in large extent it is subsidiary business
of agriculture. Dairy development made remarkable progress with establishment dairy co-
operatives. This dairy co-operative business is generally established, managed and organized
by its members. Today dairy co-operative business became a model of rural development
because number of dairy co-operative societies are established in rural areas and are helping
economic developments of rural people. During the year 2007, dairy co-operative network
included 170 milk co-operative unions working in 346 districts, which are federated into
fifteen state co-operative milk manufacturing federations. This network covers nearly 122534
village level societies and owned by nearly 12.96 million farmer members of which 3.4
million were women.

Collection of Data

The language and principles of modern accounting have evolved from the centuries-
old need for accurate record keeping. Today, the Financial Accounting Standards Board
(FASB), the SEC, and the American Institute of Certified Public Accountants (AICPA)
continue to refine and revise concepts and practices. Regardless of how complex a financial
statement may seem, it is based on logic and practicality.
 Collecting information for financial statements begins with the daily arithmetic of
business and follows a continuing process called the audit trail. First, figures from original
documents such as invoices are journalized, or recorded, daily in the book of original entry,
which is called the journal. Today, these journals are maintained in electronic format. Items
that are not normally recorded in the daily operations, such as those for depreciation and
amortization, are called end-of-the-period adjustments and are calculated and journalized
periodically. All of these detailed transactions are then posted to the general ledger.
Amounts are balanced (credits must equal debits) and then used to prepare financial
statements. In most computerized accounting systems the balancing is maintained in real-
time, behind the scenes, allowing financial statements to be prepared at any time.

The vast majority of financial data you’ll want about any corporation will come from just
a handful of locations:

 Financial reports: Financial reports are usually the first place to look because they’re
easy to find and already formatted in a way that’s simple to analyze. Not just mean
the annual reports, either — the quarterly reports, monthly reports, and everything
else are important as well.

 Reports regarding inventory, production, and employment: Corporations,

particularly larger ones, will distribute reports on inventory, production, and
employment occasionally, especially when prompted by one organization or another
that’s attempting to compile economic reports.

 Accounting records: If you’re able to get your hands on the corporation’s accounting
records, those are easily the most comprehensive and detailed sources of data you can
find.

 Internet Sources: For information about stock price, try the Google Finance page,
but lots of websites are available, all providing basically the same information. For
other corporate financial information, try EDGAR(an SEC-run site for public
financial records).
Tools for Analysis

Trent Analysis

Trend analysis evaluates an organization’s financial information over a period of time.

Periods may be measured in months, quarters, or years, depending on the circumstances. The
goal is to calculate and analyze the amount change and percent change from one period to the
next.

1.7 Limitation of Co-Operative Society

Cooperatives marketing farm products and providing farm supplies, credit, and other
services vary widely in success. So their benefits and limitations also vary. Benefits of
cooperatives are difficult to measure. Some are tangible or direct as in the case of net margins
or savings. Others are intangible or indirect such as cooperatives’ effect on market price
levels, quality, and service. Some are most evident at the time the cooperative is organized
but become more obscure as the years pass. Benefits are greater for some types of
cooperatives or in specific areas. Most benefits are evaluated in economic terms but some
also may be social.

Cooperatives enable farmers to own and control, on a democratic basis, business

enterprises for procuring their supplies and services (inputs), and marketing their products
(outputs). 1 They voluntarily organize to help themselves rather than rely on the Government.
They can determine objectives, financing, operating policies, and methods of sharing the
benefits. Through cooperatives, farmers can own and operate a useror service-oriented
enterprise as contrasted to an investor- or dividend-oriented enterprise. Farmer ownership
allows producers to determine services and operations that will maximize their own farming
profits rather than profits for the cooperative itself.

1.8 Limitation of Financial Statement

Most of the limitations are due to recorded facts, accounting rules and conventions
and personal judgements. If proper care is taken and specifically prepare the financial
statements, it reflect the correct financial position of the company. Some of the important
limitations are as follows.
1. Incomplete Information: Generally, the financial statements are prepared for an
accounting period. Hence, there is a possibility of disclosing incomplete information.
The correct financial position and exact financial strength of the company can be
known when the business is closed down.

2. No Brief Information: Accounting rules, methods and conventions are applied for
preparing financial statements. Sometimes experiences of the accountancy profession
is also used for preparation. These lead to detailed information included in the
financial statements.

3. Qualitative Information is Ignored: Only quantitative information are included in

the financial statements and are expressed in monetary terms. But, the qualitative
information such as efficiency of management executives, goodwill of the company,
employee and employer relationship, efficiency of workers, customer satisfaction,
loyalty of customers, competitive strength and the like are not expressed in monetary
terms. Hence, these are not included in the financial statements. However, these
qualitative information are necessary for understanding the real financial position and
the operating results of the business.

4. Disclose Wrong Financial Position: The financial position of a business concern is

affected by several factors such as economic, social and financial. But, the financial
statements include only financial factors. Both social and economic factors are not
recorded in the financial statements. This type of practice leads to disclosing wrong
financial position of the company.

5. Shows only Historical Information: The financial statements are prepared taking
into account of recorded historical costing information. They do not consider present
value of money and cost of living index in the price level changes. Hence, historical
information has little scope for decision making.
 CHAPTER – III

DATA ANALYSIS AND INTERPRETATION

CURRENT ASSET

A current asset is any asset which can reasonably be expected to be sold, consumed,
or exhausted through the normal operations of a business within the current fiscal year or
operating cycle (whichever period is longer). Typical current assets include cash, cash
equivalents, short-term investments (marketable securities), accounts receivable,
stock inventory, supplies, and the portion of prepaid liabilities, sometimes referred to as
prepaid expenses, which will be paid within a year.

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value

TABLE 3.1

CURRENT ASSET

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 448618.86 122.80

2013-2014 374083.99 102.40

2014-2015 670824.94 185.63

2015-2016 199422.18 36.52

2016-2017 365298.46 10.0

SOURCES:

An annual audit report of primary agricultural operative society.

Interpretation:

The Table 3.1. shows the current asset was gradually increased in 2014-
2015 can be decreased the year 2015-2016

CHART 3.1

CURRENT ASSET

CURRENT ASSET

2016-2017

2015-2016

2014-2015
CURRENT ASSET

2013-2014

2012-2013

0 50 100 150 200

 TABLE 3.2

CURRENT LIABILITIES

In accounting, current liabilities are often understood as all liabilities of the business
that are to be settled in cash within the fiscal year or the operating cycle of a given firm,
whichever period is longer.

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value

TABLE 3.2

CURRENT LIABILITIES

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 1565245.00 31.33

2013-2014 842920.12 16.87

2014-2015 50, 84, 721.17 10.17

2015-2016 52, 06, 452.37 10.42

2016-2017 4995279.44 10.0

SOURCES:

An annual audit report of primary agricultural operative society.

Interpretation:

The Table 3.2. current liabilities shows the increasing 2016-2017

decreasing 2015-2016 to 2014-2015
 CHART 3.2

CURRENT LIABILITIES

CURRENT LIABILITIES
100
90
80
70
60
50
40
30
CURRENT LIABILITIES
20
10
0

FIXED ASSET:

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value
 TABLE 3.3

FIXED ASSET

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 375235.63 33.02

2013-2014 375235.63 33.02

2014-2015 10,82.364.45 113.62

2015-2016 1136264.45 100

2016-2017 1136264.45 100

SOURCES:

annual audit report of primary agricultural co-operative society.

Interpretation:

The Table 3.3. shows the increased the year 2014-2015 to 2015-2016 the
again increasing 2016-2017 the decreasing 2012-2013 to 2013-2014.
 CHART 3.3

CURRENT LIABILITIES
120

100

80

60
40
CURRENT LIABILITIES
20
0
 FIXED ASSET

INVESTMENT

To invest is to allocate money (or sometimes another resource, such as time) in the
expectation of some benefit in the future, for example, investment on durable good such
as real estate for service industry and factory for manufacturing product development, which
are two common types for micro-economic output in modern economy. Investment
on Research and Development occurs mainly on the innovation of consumer products.

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value
 TABLE 3.4

INVESTMENT

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 9,501,512.16 15.49

2013-2014 14,177982.16 23.11

2014-2015 3,90,76,037.16 63.71

2015-2016 4,36,04,514.16 71.10

2016-2017 61327829.16 100

SOURCES:

annual audit report of primary agricultural co-operative society.

Interpretation:

The Table 3.4. shows the increasing 2016-2017 to 2015-2016 the

decreasing 2012-2013 to 2013-2014.
 CHART 3.4

CURRENT LIABILITIES

100
80
60
40
20 CURRENT LIABILITIES
0
CURRENT LIABILITIES

LOAN AND ADVANCE

In the previous lesson you have learnt the meaning and types of depositaccounts
including the procedure of opening and operating bank accounts. We have seen that the
commercial banks accept deposits and also lend money to the people who require it for
various purposes. Lending of funds to traders, businessmen and industrial enterprises is one
of the important activities of commercial banks.

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value
 TABLE 3.5

LOAN AND ADVANCE

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 61932434 131.91

2013-2014 72,251,409 153.8

2014-2015 6,53,46,160.00 139.18

2015-2016 5,51,51,599.10 117.47

2016-2017 46947825.10 400

SOURCES:

An annual audit report of primary agricultural co-operative society.

Interpretation:

The Table 3.5. Loan and Advance shows the increasing 2013-2014 to
2014-2015 decreasing 2016-2017.
 CHART 3.5

CURRENT LIABILITIES
160
140
120
100
80
60
40 CURRENT LIABILITIES
20
0

LOAN AND ADVANCE

DEPOSIT

A deposit is the monetary amount that is placed with some entity.

The deposit is a credit for the party (individual or organization) who placed it, and it may be
taken back (withdrawn), transferred to some other party, or used for a purchase at a later date.

This financial concept is often used with respect to banks, where deposits are usually their
main source of funding.

TREND PERCENTAGE

Trend Percentage = Present year value x 100

_______________
Base year value
 TABLE 3.6

DEPOSIT

YEAR RS. IN LAKHS PERCENTAGE

2012-2013 61,657,484.6 71.19

2013-2014 49,046,381.6 56.63

2014-2015 7,78,25,636.00 89.86

2015-2016 8,13,47,808.60 93.92

2016-2017 86605712.60 100

SOURCES:

An annual audit report of primary agricultural co-operative society.

Interpretation:

The Table 3.6. shows the increasing the 2016-2017 to 2015-2016 the
decreasing 2013-2014.
 CHART 3.6

CURRENT LIABILITIES
100
90
80
70
60
50
40
30
CURRENT LIABILITIES
20
10
0

DEPOSIT
 CHAPTER – IV

FINDINGS, SUGGESTIONS AND CONCLUSION

FINDINGS

 The Table 3.1 show the current asset gradually increased 2014-2015 the decreasing
2015-2016

 The table 3.2 current liabilities shows the increasing 2016-2017 decreasing the year
2015-2016 to 2014-2015.

 The Table 3.3 fixed Asset shows the increasing 2014-2015 to 2015-2016 again
increasing 2016-2017 decreasing 2012-2015 to 2013-2014.

 The table 3.4 investment shows the increasing 2016-2017 to 2015-2016 the
decreasing year 2012-2013 to 2013-2014.

 The table 3.5 loan and advance the shows the increasing year 2013.2014 to 2014-2015
decreasing 2016-2017.

 The table 3.6 deposit increasing the 2016-2017 to 2015-2016 the decreasing 2013-
2014.

SUGGESTION

 Incorporates co-operative principles

 Ensures autonomy & independence of co-operative society.

 Specifies role of society keep the record system also.

 Co-operatives not to maximize profit but to provide service to its members

CONSLUSION

Financial inclusion is a win-win situation for the financially excluded the corporate
the govt the banks.

Bankers can support by financing the Agri products including their preservation and
sales.

Corporates can sell/market their products to the large untapped rural markets.
 BIBLIOGRAPHY – V

BIBLIOGRAPHY

Shashi, K gupta, R.K.Sharma, management accounting, kalyani publishers, New

Delhi, 2001.

Websites:

www.google.com

www.wikipedia.com