Concept and Importance of Office Machines and Furniture
the machines which are used in an office as kids to help employees to perform their work are commonly known as office machines. It plays a vital role in an office because all the activities are performed through the machines and equipment. In a modern office, a business completely depends on the office machine and equipment.Office furniture is an important part of office management. It is mostly used in the indoor activity .The work can be done quickly if the office should be provided with comfortable and convenient furniture. The major and most popular office furniture are chair, table, cabinets, cupboards, sofas, racks etc
Summary
the machines which are used in an office as kids to help employees to perform their work are commonly known as office machines. It plays a vital role in an office because all the activities are performed through the machines and equipment. In a modern office, a business completely depends on the office machine and equipment.Office furniture is an important part of office management. It is mostly used in the indoor activity .The work can be done quickly if the office should be provided with comfortable and convenient furniture. The major and most popular office furniture are chair, table, cabinets, cupboards, sofas, racks etc
Things to Remember
- The machines which are used in an office as kids to help employees to perform their work are commonly known as office machines.
- The major and most popular office furniture are chair, table, cabinets, cupboards, sofas, racks etc.
- In a modern office, a business completely depends on the office machine and equipment.
- Office furniture is an important part of office management.
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Subjective Questions
Q1:
List out the main document of joint stock company.
Type: Short Difficulty: Easy
<ul>
<li>Memorandum of Association<br />Memorandum of Association is the constitution of Joint stock company. It describes the objectives and right of the company, and also regulates the relationships of the company with other parties.<br /><br /></li>
<li>Article of Association<br />Article of Association is another important document of the company. It defines the mode and manner in which the company's business is to be carried out to achieve its objectives as stated in the Memorandum of Association.. The article is the outcome of mutual consent of the promotion.<br /><br /></li>
<li>Prospectus<br />A prospectus is an invitation is a general public for purchasing share of the public company. There is no any legal obligation to publish a prospectus in a private company. Prospectus provides a summary of past history. The prospectus also highlight share transfers and share forfeiture of the company to protect the right of prospective shareholders.</li>
</ul>
Q2:
What are the documents of a joint stock company? Discuss the important clauses of the Memorandum of Association.
Type: Long Difficulty: Easy
<ul>
<li><strong>Memorandum of Association</strong><br />Memorandum of Association is the constitution of Joint stock company. It describes the objectives an rights of the company, and also regulates the relationships of the company with other parties. Memorandum of association is submitted to Company Registrar Office. Basic information and provision of the company are clearly mentioned in the memorandum of association. It defines scopes, objectives, functions of the joint stock company.<br /><br /></li>
<li><strong>Article of Association</strong><br />Article of Association is another important document of company. It defines the mode and manner in which the company's business is to be carried out to achieve its objectives as stated in the Memorandum of Association. The article is the outcome of mutual consent of the promotion. The article is the outcome of mutual consent of the promotion. When promoters sign in this article then it is submitted to the concerned department of Nepal Government for legal validity.<br /><br /></li>
<li><strong>Prospectus</strong><br />A prospectus is an invitation is a general public for purchasing share of the public company. There is no any legal obligation to publish a prospectus in a private company. Prospectus provides a summary of past history. The prospectus also highlights share transfers and share forfeiture of the company to protect the right of prospective shareholders.
<p>Prospectus plays the role of advertisement. It plays a vital role to promote the activities of the company. General people/ outsiders observe the prospectus then decide to purchase a share.</p>
<p>In conclusion, a document which is issued to public people for informing about the company is called prospectus.<br /><br /></p>
</li>
</ul>
<p><strong>Main clauses/ contents of Memorandum of Association</strong></p>
<ul>
<li><strong>Name clause:<br /></strong>This is the first clause of the Memorandum Association. This clause includes the distinct name of the company. Generally, the unique, attractive, short and sweet name is selected by promoters to attract the attention of general public. Name of the company must be registerable. The name of the company should not match with some other company.<br /><br /></li>
<li><strong>Adress clause:</strong><br />Address of the company is clearly stated in the address clause. Basically, an address of the head office must be mentioned in the address clause. The address must be same as was mentioned at the time of registration of the company.<br /><br /></li>
<li><strong>Objective clause:</strong><br />It is the most important clause of the Memorandum of Association. This scope gives the scope and direction to the company for its activities. It gives protection to shareholders by ensuring that the fund raised for specified businesses are not going to bet risked to another. <strong>: </strong>Plans, policies, and objectives are formulated by the top level management. Major objectives/goals are clearly stated in this clause. <br /><br /></li>
<li><strong>Liability clause:</strong><br />This clause mentions the liability of the shareholders. In a limited liability, however, liability of the directors, or manager may be unlimited if so, provided by memorandum. Basically, the joint stock company has a provision of limited liability which is clearly stated in this clause.<br /><br /></li>
<li><strong>Capital clause:</strong><br />This clause mentions the authorized capital of the company. There must be appropriate capital structure to run the activities of an organization. Authorized capital, issued capital, debt capital, equity capital, working capital, fixed capital etc. are mentioned in this clause.<br /><strong><br /></strong></li>
<li><strong>Restriction on transfer of share clause: </strong>In public company shares are fully transferablewhere as in private company shares are not transferable to outsiders. In this clause, provision of transfer of share is clearly mentioned.</li>
</ul>
Q3:
Discuss the main contents of the Article of the Articles of Association.
Type: Long Difficulty: Easy
<p><strong>Contents of Article of Association:<br /></strong></p>
<ol>
<li><strong>Director related particulars:<br /> </strong>Number of directors to be elected in the company must be mentioned in this particular. Remuneration, appointment, facility of directors are clearly mentioned in this content. Here, the right of a number of directors, a role of directors and promoters, delegation of authority are also mentioned.<br /><br /></li>
<li><strong>Meeting related particulars: <br /></strong>Annual general meeting of the joint stock company is very important meeting. In this particular quorum of a meeting is clearly stated and provision of conduction of meeting is also mentioned. Basically, in the public company before the 21 days of conduction of meeting, shareholders are informed about the meeting. Agenda is also attached while informing shareholders about the meeting. Majority shareholders are needed to pass the agenda of the meeting.<br /><br /></li>
<li><strong>Shares related particularly: <br /></strong>Nature of share, transfer of share, an issue of share etc. are clearly depicted in the share related particulars. The way of transferring share related particulars. The way of transferring share is also stated.<br /><br /></li>
<li><strong>Other particulars:<br /> </strong>In this procedure of appointment of an audition, use and formation of the common seal, way at taking loan are clearly stated.</li>
</ol>
<p><strong> </strong></p>
Q4:
What do you mean by prospectus? Discuss its contents.
Type: Long Difficulty: Easy
<p>Prospectus plays the role of advertisement. It plays a vital role to promote the activities of the company. General people/ outsiders observe the prospectus then decide to purchase a share. The prospectus must be signed and dated by the promoters of the company.</p>
<p>According to the Company Act, 2053, the prospectus must contain the following matters:</p>
<ol>
<li>The main objectives of the company and other important matters mentioned in the Memorandum of Association and Article of Association.</li>
<li>A minimum number of share required to be subscribed to become the director and their salaries and allowances.</li>
<li>Description of cash receipt as the remuneration of share or reward by the promoters and directors.</li>
<li>The provision relating to bonus shares.</li>
<li>Provision if any regarding reservation of shares for any shareholder, employee or other persons.</li>
<li>Name and address of the directors and number of the shares subscribed.</li>
<li>A number of shares to be issued to the general public on par or premium.</li>
<li>A minimum number of shares to be subscribed advance payment along with the application.</li>
<li>Brokerage on shares and debentures.</li>
<li>Estimated expenditure for the company and estimated income at least for coming 3 years.</li>
<li>The net worth of the company.</li>
<li>Name and address of the auditors and the audit report, if any.</li>
<li>Date of opening and closing of the subscription list.</li>
<li>The balance sheet and profit and loss account of the company and time and place for inspecting the same.</li>
<li>Details of the underwriting of shares and commission of their earning.</li>
<li>Other necessary particulars.</li>
</ol>
<p> </p>
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Concept and Importance of Office Machines and Furniture
Concept of Office Machine
The machines which are used in an office to help employees to perform their work are commonly known as office machines. It plays a vital role in an office because all the activities are performed through the machines and equipment. In a modern office, a business completely depends on the office machine and equipment. It increases the level of operation, improves the performances, safeguards the files, and increases the accuracy. Purchase, repair, and maintenance of office machines require a big investment. It is the duty of office manager to select the right type of machine.
Importance of Office Machine
The following are the importance of office machine
- Better quality of work:
Office machines and equipment play a vital role in an office. It helps to maintain the neatness, accuracy, and provides better quality of work.
- Saves time:
The office machine helps to save time rather than men because machines work faster than men. It increases efficiency and effectiveness of work. The speed of official work is increased with the help of a machine. It helps in completion of work in a faster way.
- Saves labor:
Properly designed office machine helps to save the labor. It helps in saving labor cost. Total wage bill can be reduced because the machine works faster than men.
- Greater Accuracy:
Office machines and equipment help to obtain accurate result. It increases accuracy in all types of works like adding, subtracting, multiplying, dividing etc. more quickly. It reduces the error, fatigue and helps in supervision.
- Increase efficiency:
Another importance of office machine and equipment is to perform work speedily, quickly and accurately. Thus, it helps to increase the efficiency of employees.
Importance of office furniture
- Simple in operation:
Office machine should be simple to operate which helps in increasing the efficiency of the work. The machine should be easy to handle so that it maximizesfunction, reduce fatigue, minimizes mistakes, and errors.
- Flexibility:
Another factor to be considered for selecting office machine is that it should be flexible to fulfill multiple purposes.
- Durability:
The durable machines and equipment is one which lasts longer. Metal furniture is more durable compared to wooden and plastic furniture. Better quality branded machines are more durable. While making the selection of the office machine their durability should be considered.
- Cost:
Office furniture are available in various price ranges. The availability of fund should be considered in making selection of office machine and furniture. Cost is generally the deciding factor.
- Portability:
The machine should be portable to use and handled properly. It becomes very easy to move from one place to another if the machine is portable.
Concept of Office Furniture
Office furniture is an important part of office management. It is mostly used in the indoor activity .The work can be done quickly if the office is provided with comfortable and convenient furniture. The major and most popular office furniture are chair, table, cabinets, cupboards, sofas, racks etc. The office looks attractive and pleasant if there is a good design of furniture. In a well-furnished office, employees feel comfortable and are motivated to work.
Importance of office furniture
- It increases the efficiency of work.
- It makes the office more attractive and pleasant.
- It helps to maintain the prestige of office.
- It provides better working environment for the employees.
- It helps in reducing the fatigue.
- It helps in protection of documents from fire, dust, insects etc.
- It helps in proper storage of files.
Factors to be considered for Selecting the Furniture
- Cost:
Cost is a very important factor to be considered before selecting the office furniture. The furniture should be purchased within the budget of an office but the quality of a furniture should be good while purchasing it.
- Design:
The design of furniture relates to height, width, color, number of drawers, and so on. The furniture design should be proper, attractive and modern so that the office looks attractive and pleasant. It helps to increase the quality of work and prestige of an office.
- Durability:
Durability should be considered for selecting the future. The furniture should be durable or long lasting. Steel furniture is becoming more popular nowadays in comparison to wooden furniture, steel furniture is safer and long lasting.
- Safety:
Safety is also important factor to be considered in selling and buying the furniture. Office furniture should be safe. Steel furniture is more Glass topped and sharp-cornered furniture is relatively unsafe.
- Saves space:
Choice of furniture also depends upon the space occupied by furniture. Such furniture should be selected which would occupy minimum office space. Bulky and space occupying furniture indirectly add office cost.
References:
Khanal, Soma Raj, Surendra Thapa Aslami and Sitaram Dhakal. Business Studies. Kathmandu: Taleju Prakashan, 2067.
Pant, Prem R., et al. Business Studies. Kathmandu: Buddha Academic Publishers and Distributors Pvt. Ltd., 2010.
Lesson
Office Machine and Funiture
Subject
Business Studies
Grade
Grade 11
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