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Category: finance ಹಣಕಾಸು

  • Finance and Management – 19

    In the last blog, we discussed about the concepts of paid up capital and a few more. In

    this blog, we try to understand the meaning of Par Value.





    Par Value is also called the face value of the company’s stock. This represents

    the minimum amount that a shareholder must pay on each share. This is

    the legal minimum capital of the company. In case the company is

    declared insolvent and the shareholder has to pay to its debtors, then

    each shareholder can be compelled to pay the par value of the shares

    held by him/her    .





    Companies are prohibited from returning any part of the minimum capital except by

    following a special procedure; this is done to protect the interest of

    the creditors of the company. If this was allowed, the shareholders

    could withdraw all the assets and leave behind nothing for the

    creditors!





    Read in Kannada:

    http://somanagement.blogspot.com/2011/08/blog-post_4471.html

  • ಹಣಕಾಸು ವ್ಯವಸ್ಥೆ ಮತ್ತು ನಿರ್ವಹಣೆ – ೮

    ಈ ಹಿಂದಿನ ಅಂಕಣದಲ್ಲಿ ನಾವು ಒಬ್ಬ ಬಂಡವಾಳದಾರನು ಹೇಗೆ ಲೆಕ್ಕ ಪತ್ರದಲ್ಲಿ ಹಣದ ಮೌಲ್ಯದ ಇರುವಿಕೆಯನ್ನು ನೋಡುವನು ಎಂಬುದನ್ನು ಅರಿತೆವು. ಇಂದು ಸರಕು ಗಳ ಮೌಲ್ಯ ವನ್ನು ಹೇಗೆ ನೋಡುವರು ಎಂದು ಅರಿಯೋಣ.
    ಸರಕುಗಳು ಅಂದರೆ ಮೂಲತಹ ಖರೀದಿಸಿದ ಆದರೆ ಉಪಯೋಗಿಸದ ವಸ್ತುಗಳು, ಉತ್ಪಾದಕ ಹಂತದಲ್ಲಿರುವ ವಸ್ತುಗಳು ಮತ್ತು ಉತ್ಪಾದಿಸಿದ ಆದರೆ ಮಾರಾಟವಾಗದ ವಸ್ತುಗಳ ಒಟ್ಟು ಮೌಲ್ಯ. ಒಬ್ಬ ಬಂಡವಾಳದಾರನಾಗಿ ಕಂಪನಿಯ ಹೆಚ್ಚಿನ ಹಣ ಸರಕುಗಳಲ್ಲೇ ಇರದಂತೆ ನೋಡಿಕೊಳ್ಳಲು ಇಷ್ಟ ಪಡುವನು. ಹೆಚ್ಚಿನ ಸರಕುಗಳ ಇರುವಿಕೆಯು ಕಂಪನಿಗೆ ಉದ್ಯಮದ ಕೆಲವೊಂದು ಕೆಟ್ಟ ಸಂಬಂಧಗಳ ಕಾರಣದಿಂದಾಗುವ ಹೊಡೆತಗಳನ್ನುತಡೆದು ಕೊಳ್ಳಲು ಸಹಕಾರಿ ಆದರೆ, ಜೊತೆಗೆ ಕಂಪನಿಯ ಇತರ ಕಂಪನಿಯೋಡಗಿನ ಬೆಲೆಗಳ ಯುದ್ಧದ ಭಾಗವಾದರೂ ಕೂಡ ಒಬ್ಬ ಬಂಡವಾಳದಾರನು ಹೆಚ್ಚಿನ ಸರಕಿನ ಇರುವಿಕೆಯನ್ನು ಹಣವು ಅವುಗಳಲ್ಲಿ ಬಂಧಿಸಲ್ಪಟ್ಟಿದೆ ಎಂದೇ ಅರ್ಥೈಸುವನು.
    ಕಂಪನಿಗಳಲ್ಲಿ ಸರಕುಗಳನ್ನು ಇಟ್ಟು ಕೊಳ್ಳಲು ಅತ್ಯಂತ ಕಡಿಮೆ ಖರ್ಚನ್ನು ಮಾಡಬೇಕಾಗುತ್ತದೆ. ಹೆಚ್ಚಿನ ಸರಕಿರುವುದು ಅಂದರೆ ನಿಯಮಿತವಾದ ಉತ್ಪನ್ನದ ಮಾರಾಟವಾಗದೇ ಇರುವುದು. ಇದರರ್ಥ ಕಂಪನಿ ನಿಜವಾಗಲು ಒಂದು ಗಂಭಿರವಾದ ಸಮಸ್ಯೆಯೆಡೆಗೆ ಬೀಳುತ್ತಿದೆ ಎಂದು. ಉತ್ಪನ್ನದ ಮಾರಾಟ ಮಾಡಲು ಹೆಚ್ಚಿನ ಸಮಯ ತೆಗೆದು ಕೊಂಡಷ್ಟು, ಹೆಚ್ಚಿನ ಸಮಯ ಸರಕು ಕಂಪನಿಯಲ್ಲಿರುವುದು, ಅಂದರೆ ಹಣದ ಸಂವಹನ ಅಲ್ಲಿಯವರೆಗೆ ನಿಂತಿರುವುದು. ಈ ಸಮಸ್ಯೆ ಕೊನೆಗೆ ಪೂರೈಕೆದಾರರಿಗೆ ಹಣ ಸಂದಾಯ ಮಾಡಲು ಕೂಡ ಹಣವಿಲ್ಲದೆ ಹೋಗಬಹುದು.
    ಎಷ್ಟು ಸಲ ಸರಕುಗಳು ಪುನರಾವೃತ್ತಿ ಒಂದು ವರ್ಷದಲ್ಲಿ ಹೊಂದುತ್ತವೆ ಅನ್ನುವುದನ್ನು “ಸರಕಿನ ವಹಿವಾಟಿ”ನ ಮೂಲಕ ಅಳೆಯುವರು. ಇದನ್ನು ಒಟ್ಟು ಮಾರಾಟದ ಮೊತ್ತವನ್ನು ಸರಾಸರಿ ಸರಕಿನ ಮೌಲ್ಯ ದಿಂದ ಭಾಗಿಸಿದಾಗ ಸಿಗುವ ಸಂಖ್ಯೆಯಿಂದ ಅಳೆಯುವರು. ಸರಕಿನ ವಹಿವಾಟು ಹೆಚ್ಚಿದ್ದಲ್ಲಿ ಕಂಪನಿಯ ಉತ್ಪನ್ನದ ಮಾರಾಟಗಾರಿಕೆಯ ವೇಗ ಹೆಚ್ಚಿದೆ ಎಂದರ್ಥ. ಅದಲ್ಲದೆ ಸರಕಿನ ಮೌಲ್ಯ ಮಾರಾಟದ ಮೌಲ್ಯಕ್ಕಿಂದ ವೇಗವಾಗಿ ಹೆಚ್ಚಾದರೆ ಕಂಪನಿಯಲ್ಲಿ ಮೂಲಭೂತ ಸಮಸ್ಯೆಗಳು ಶುರುವಾಯಿತೆಂದು ಅರ್ಥ.

  • Finance and Management – 18

    In the last blog, we learnt the meaning of authorized capital. In today’s blog we will understand the terms
    • Issued Capital
    • Subscribed Capital
    • Paid up Capital
    Issued Capital indicates the number of shares that have been issued by a company.
    Subscribed Capital indicates the total number of shares taken up by the public
    Paid-up Capital indicates the amount of share capital that has been received by the company.
    An Example would get the distinction clear
    Let’s assume a company has an authorized share capital of 1,00,000 equity shares of Rs 10 each. Of these around 40,000 could have been issued capital. Let’s assume the public has taken 25,000 shares, which will be in circulation. If the company has called up and received Rs 7 on each share, the company’s paid up capital will be Rs 1, 75,000 (25,000 x Rs 7 per share)
    Read in Kannada:

    http://somanagement.blogspot.com/2011/08/blog-post_8745.html

  • Finance and Management – 17

    In the last blog, we began discussing about the capital stock, in today’s blog, we continue discussing about capital stock and our subject today is Authorized capital.
    When a company is looking to infuse some capital it can be done using the company’s equity. Generally companies are authorized to issues equity shares or preference shares in some cases to raise the capital. The Equity capital represents only the residual equity in the company, since the equity shareholders are paid only after all other claims are have been paid. These equity share holders are akin to the real owners of the business and hence they indulge themselves in appointing the company’s directors and declaring dividends.
    The constitution of the company is governed my it’s MOA (Memorandum of Association) to a major extent and this specifies the number of shares of stocks that may be issued by a company and the par value of each share. This number is called Authorized Capital.
    Any increase of Authorized Capital can be done by the approval of the company’s shareholders, but this would be a time consuming process and hence, company’s generally company obtains an authorization for more shares than it plans to issues initially. This makes it possible to make further issues of share later when funds are needed.
    Read in Kannada:

    http://somanagement.blogspot.com/2011/08/blog-post_10.html

  • Finance and Management -16

    In the last blog, we discussed the Cash Ratio and some of its utility and limitations. From this blog, we take a bit of a deviation on the financial analysis front and understand some of the various terminologies that are used in the financial world. We would build on these definitions to get a better understanding of the financial world and its implications to management as we go ahead.
    We have been talking about the term “Share Capital” for quite some time let’s take a closer look at this term in the coming few blogs. The Share capital section contains information about the kinds of shares, their par value, and the number of shares authorized and issued.
    The Capital Stock of a company is divided into a number of units called “shares of stock”, or simply “shares“. A person owning a share in a company gets a “share certificate” to evidence this. A typical share certificate would have on it the kind of the share, number of the shares, as well as their distinctive share serial numbers. These shares also have a company secretary’s signature and bear the company’s seal on it.
    Now this set up of share certificate is fine if we have a single owner of the shares, what if the owner of these shares wants to sell them – This can be done by using the transfer form. The shareholder who has sold the shares would send the share certificate along with the transfer form to the company for recording the share ownership change.
    One can easily see that such a process would be time consuming one, especially if the shares are of a large company with thousands of shareholders. Even if the company can delegate the process to a certain extent, there is still an impactful delay for the share traders. The Electronic format of the shares which makes these registered changes quick would be a preferred model in such a scenario. This electronic format of the share is called the De-Materialized or demat share.
    Read in Kannada:
    http://somanagement.blogspot.com/2011/08/blog-post.html

  • Finance and Management – 15

    In the last blog, we discussed quick ration. In today’s blog we discuss another measure of the liquidity of the company – the cash ratio.


    Cash ratio could be defined as:

    Cash Ratio = (Cash + Cash Equivalent + Invested Funds) / Current Liabilities


    Cash Ratio from its definition is clearly the most stringent of the 3 liquidity ratio discussed this far – this is primarily because it relies only on the cash at hand! No inventory No Receivables. Cash is obviously the most liquid asset and thus this measure the company’s current ability to pay off its financial obligations.


    Given this understanding, should one expect this cash ratio to be 1:1? Really this wouldn’t be the best value for cash ratio – having it at 1:1 means that you are paying off the current liabilities with the present cash reserve and this couldn’t really be a good situation for a company. This surplus cash could be considered poor asset utilization for a company to hold large amounts of cash on its balance sheet, as this money could be returned to shareholders or used elsewhere to generate higher returns.


    While this ratio give a good understanding of the company’s liquidity status, its usefulness is rather limited.

    Read in Kannada:

    http://somanagement.blogspot.com/2011/07/blog-post_2998.html

  • Finance and Management – 14

    In the last blog, we looked at the meaning of Current ratio. In today’s blog, we look at another ratio – The Quick Ratio.
    Quick Ratio is defined as:
    Quick Ratio = (Current Assets – Inventories) / Current Liabilities
    This ratio is also known as the “acid test ratio”
    In the explanation of Current Ratio, we have taken up the whole of Current Assets and compared it with the capacity of the company to repay its current liabilities. This gives us an estimate of the short term financial liquidity of the company. However, in the above approach, we realize that there are some industries which have a long sales cycle, and cannot convert the inventory quickly into cash which could be used to clear the short term liabilities.
    Given this, it would be prudent to exclude the inventories from the current assets and then take the ratio to assess the short term liquidity of the company. Hence, Quick Ratio/Acid Test Ratio is better method to compare the short term liquidity of the company and there by the ability to repay short term obligations.
    Read in Kannada:

  • ಹಣಕಾಸು ವ್ಯವಸ್ಥೆ ಮತ್ತು ನಿರ್ವಹಣೆ – ೬

    ಹಿಂದಿನ ಅಂಕಣದಲ್ಲಿ ನಾವು ಲೆಕ್ಕ ಪತ್ರದ ವಿಭಾಗಗಳ ಬಗ್ಗೆ ಹೇಳಿದೆವಷ್ಟೇ, ಆದರೆ ಅವುಗಳ ಬಗ್ಗೆ ವಿವರಣೆ ನೀಡಿರಲಿಲ್ಲ. ಇಂದು ಅವುಗಳನ್ನು ಸಾಮಾನ್ಯ ಭಾಷೆಯಲ್ಲಿ ಅರಿಯುವ ಯತ್ನ ಮಾಡೋಣ. ಜೊತೆಗೆ ತಾರ್ಕಿಕ ಹಿನ್ನಲೆಯನ್ನು ತಿಳಿಯೋಣ.

    • ಹಣ – ಕಂಪನಿಯಲ್ಲಿರುವ ಹಣದ ರೂಪದ ಸಂಪತ್ತಿಗೆ ಹಣ ಅಂದು ಕರೆಯುವರು.
    • ಬರಬೇಕಾದ ಆದಾಯಗಳು – ಗ್ರಾಹಕರಿಗೆ ಕೊಟ್ಟ ಬಿಲ್ ಗಳಿಂದ ಬರಬೇಕಾದ ಆದಾಯ.
    • ಸರಕುಗಳ ಮೌಲ್ಯ – ಕಂಪನಿಯಲ್ಲಿ ತಯಾರಿಸಿದ ಆದರೆ ಮಾರದೆ ಇರುವ ಉತ್ಪನ್ನಗಳು ಮತ್ತು ಇತರ ಸರಕುಗಳು ಮತ್ತು ವಸ್ತುಗಳ ಒಟ್ಟು ಮೌಲ್ಯ.
    • ಸಂದಾಯಿಸಲಿರುವ ಬಾಕಿಗಳು – ಪೂರೈಕೆದಾರನಿಗೆ ಅವನ ಸರಕಿಗೆ ಅಥವಾ ಸೇವೆಗೆ ನೀಡಿದ ಬಿಲ್ ಗಳಲ್ಲಿ ಬಾಕಿ ಕೊಡಲು ಇರುವ ಹಣ.
    • ಧೀರ್ಘ ಕಾಲೀನ ಸಾಲಗಳು – ಕಂಪನಿಯನ್ನು ಮುನ್ನಡೆಸಲು ಬ್ಯಾಂಕ್ ಗಳಿಂದ ತೆಗೆದುಕೊಂಡ ಧೀರ್ಘ ಕಾಲೀನ ಸಾಲಗಳು
    • ಮಾಲಿಕರ ಬಂಡವಾಳ – ಆರಂಭಿಕವಾಗಿ ಕಂಪನಿಯ ಮಾಲೀಕರು ಒಗ್ಗೂಡಿಸಿದ ಬಂಡವಾಳ (ಮುಂದಿನ ಹಂತದಲ್ಲಿ ಶೇರು ದಾರರ ಹಣ).

    ಆಂಗ್ಲ ಅಂಕಣ:
    http://somanagement.blogspot.com/2011/07/finance-and-management-6.html

  • Finance and Management – 13

    In the last blog, we understood the utility of ratios in analyzing the financial status of the company. From today over the next few blogs, we would understand some of the various financial ratios better. In today’s blog we deal about current ratio.
    Current Ration = Current Assets / Current Liabilities
    If we look at this ration, we understand that it deals which how the current (what is at immediate disposal – if we can take it in that sense) assets could be used to handle the current liabilities. It measures the firm’s ability to repay the immediate liabilities (say the bills and notes) using the assets (say cash) that is immediately available.
    It is always good to be able to pay off the liabilities that we need to pay at the earliest hence this ratio would be greater than one – clearly, the numerator has to be greater than the denominator or the assets have to be more than the liability.
    If this ratio is less than 1, it is an indication of a possible cash crunch! The liability to be paid off is more than the cash that is currently available with the company.
    Read in Kannada:
    http://somanagement.blogspot.com/2011/07/blog-post_1733.html

  • Finance and Management – 12

    In the past few blogs we looked at how an investor would look at the balance sheet and make his/her assessment about the company’s health. In the next few blogs we will look at the aspect of ratio bases analysis of the balance sheet. In today’s blog we look at the need for such ration analysis.
    These various ratios are called by the name of accounting ratios, and provide a relation between the various accounting figures. Given a balance sheet, using the actual values in it to assess to assess if the company would be inappropriate; the relative values of one with respect to another section would be a better mode to make a comparison. Making it a ratio enables comparison of the various figures.
    The advantages of Ratio Analysis are;
    • It assists the management in knowing the earning capacity of the business.
    • Helps assess the solvency of the company
    • Assists comparison across years
    • Simplifies the accounting information
    • Calculation of the operating efficiency
    • Helps forecasting
    This however has certain limitations:
    • Given the difference in accounting policies that the firms use, it cannot be used to compare across firms.
    • Unless the absolute numbers are known, it is hard to really understand the results.
    Read in Kannada:
    http://somanagement.blogspot.com/2011/07/blog-post_2770.html