FINANCIAL ACC 101

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Hey Guys Welcome, hope you tried out what we learnt on your own? The key to being the best is practice, so practice as much as you can. Today we are going to continue from where we stopped.

                    RETURNS INWARD JOURNAL.

It is otherwise called SALES RETURN JOURNAL, and is used to record goods previously sold but later returned to the supplier or seller by the customer, for wrong color, wrong type, inferior quality or breakage. In the Ledger the Returns inwards account is debited, while the customer’s account is credited. I t looks like this.

Date	Particulars	F	Details	Total

                     RETURNS OUTWARD JOURNAL.

It is otherwise called PURCHASES RETURN JOURNAL, and is used to record goods returned to the supplier by a seller as a result of one reason or the other, like damages to the goods etc. In the Ledger, the Returns outwards account is credited, while the suppliers account is debited. It looks like this.

Date	Particulars	F	Details	Total

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COMMERCE 101

       TYPES OF INDUSTRIAL OCCUPATION

Hey Guyz, Happy New Week, this is the last week in the month of February 2015, so congrats for making it. God Loves You. So today we are focusing on the continuation of what we did last week. Let's get started.

# Constructive Industrial Occupation- This involves assembling of different parts together to get one product. It may be an Automobile or a Bridge or even a shoe. It deals with bring different parts together to form one thing.

2. SERVICE

This has to do with providing anything that is not a good or product. it many times is intangible. Services like Telecommunication, Teaching, Barbing, Manicure, Pedicure etc. These are services.

TYPES OF SERVICE OCCUPATIONS:

# Direct Services- These are personal services rendered directly to the clients. Services like Barbing, Manicure, Pedicure etc. These are services that deal with personal contact.

# Indirect Services- These has to do with services that are not rendered directly or personally. For example, The activities of the Civil Servants, The activities of the Custom Officers etc.

3. COMMERCE

This is a process of Buying, Selling and Distribution of Goods and Services. It involves the combination of all occupations that are grouped under Trade and Aids-to-Trade.

This is the end of the Topic we began last week and the beginning of a new topic. Pls Enjoy!

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ECONS 101

BRANCHES OF ECONOMICS.

Hey Guyz, Happy Last day of the week. Happy Friday, It’s a beautiful day don’t you agree?. Am just too grateful for life and Beauty.

 Let’s get straight to work.

Economics can be grouped into two major groups namely: Micro- Economics and Macro- Economics.

MICRO-ECONOMICS.

Micro- Economics refers to the branch of economics that deals with smaller units/components of the economy. It is the branch of economics that studies the economic actions of individuals, firms and governments. It relates to cost, output, production, pricing and the marketing activities of households, firms and governments. It is the branch of Economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, Microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee industry).

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