Meaning of Material Control
Material control refers to the systematic planning, purchasing, storing, and utilization of materials to ensure that the right quantity and quality of materials are available at the right time, place, and cost. It aims to regulate the flow of materials from the point of purchase to the point of consumption so that production runs smoothly without interruptions or excessive investment in inventory. Material control is an essential component of cost accounting as it directly
UNIT – I
1. Objective of Cost Accounting
The primary objective of cost accounting is to determine the cost of products or services accurately so that management can make informed decisions. It helps in controlling costs by analyzing material, labor, and overhead expenses. Cost accounting also supports budgeting, cost reduction, price fixation, and profitability analysis. It enables comparison between standard and actual costs to identify variances and improve efficiency. Another objective is to
A Joint Stock Company is a voluntary association of individuals who contribute capital by purchasing shares for carrying out business activities on a large scale. It is created under the Companies Act and has a separate legal entity from its members. Its main objective is to earn profit efficiently and professionally. The shareholders are the owners, while the Board of Directors manages the company.
Characteristics:
(1) Separate Legal Entity: It can own property, enter contracts, sue and be sued
unit-4 Machine Learning
1. Supervised Learning
Supervised learning is a machine learning approach in which the model is trained using labelled data. Each training example has an input and a corresponding correct output. The goal of the model is to learn a relationship or mapping between input features and the target output, so that it can predict outcomes for new unseen data.
Important Points:
Artifacts - A object created/modified by a human being, being an object of cultural/time based importance.
Stone Age - PRE-Historic Period, Lasted around 3.4 million years before ending in ~4000-~2000 BCE. It was split up into 3 periods, Paleolithic, Mesolithic, Neolithic
Neolithic Age - Final age of Stone Age, marked by polished tools and implements and spread of agricultural practices
Bronze Age - Historic Period, During 3300 - 1200 BC that was characterized by its usage of bronze, in some
1. Meaning of Materials Management
Materials management is the process of planning, purchasing, storing, and controlling materials in an organization to ensure their availability at the right time, in the right quantity, quality, and at the lowest cost. It covers the entire flow of materials from suppliers to the production department and finally to distribution. The main purpose of materials management is to maintain a smooth and uninterrupted production process while avoiding wastage, delays,
Tequila
- Red Volcanic Soil region is well suited to grow Blue Agave Plant.
- Mexico has claimed international right to the word Tequila.
# Region
Mixican Law states that tequila can only grown in state of :
1. Jalisco
2. and limited state of Guanajuato ( Guwa no heu ton ), Nayarit, Temaulipas.
*Indian Brands*
Whisky: Royal Stag, Blenders Pride, Imperial Blue.
Rum: Old Monk, McDowell's.
Brandy: Mansion House, Honey Bee.
Vodka: Magic Moments, Romanov.
Gin: Greater Than, Blue Riband.
# *International
Q.6A) Radiation heat transfer is the transfer of thermal energy from a body in the form of electromagnetic waves (mainly infrared radiation).
It does not require any medium, so it can occur even in a vacuum.
Example: Heat reaching Earth from the Sun.
Difference from Conduction and Convection
| Mode | Medium Required? | How Heat Transfers |
|---|---|---|
| Conduction | Yes (solid) | By direct molecular contact |
| Convection | Yes (fluid – liquid/gas) | By actual movement of fluid particles |
| Radiation | No medium required |
MODULE 1 — BASICS OF MANAGEMENT
1. Management Definition:
- Planning, organizing, directing, controlling resources efficiently and effectively.
2. Characteristics of Management:
- Goal-oriented, universal, continuous, social, multidisciplinary, coordinated.
3. Management — Science vs Art:
Science: systematic knowledge, cause-effect.
Art: creativity, personal skill, practice-based.
4. Taylor’s Scientific Management:
- Scientific selection, training, cooperation, division of responsibility,