A Study On Training and Development of Employees in Salem Steel Plant

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Trade Credit Arises When a Firm Sells its products or services on credit and does not
receive the cash immediately. It is an essential marketing tool, acting as a bridge for the
movement of goods through production and distribution stages to customers. A firm grants
trade to protect its sales from the competitors and to attack the potential customers to buy its
products at favorable terms. Trade credit creates accounts receivable or trade debtors. The
customers from whom receivable or trade debtors. The customers from whom receivable or
book debits have to be collected in future are called trade debtors or simply as debtors, who
constitute a substantial portion of current assets of several firms. A credit sale has three
characteristics, it involves element of Risk Economic value Futurity.p
A firm's investment in accounts receivables depends onp
(a) Volume of credit sales, andp
(b) The collection periodp
In order to have the receivables in effective manner the firm should have an effective
credit policy.p
The term credit policy refers to combination of three decision variables, credit
standards, credit terms and collection efforts. In practice the Indian companies grant credit for
several other reasons such as the company position, buyer's status and requirement dealer
relationship, transit delays, industrial practices, transit delays etc.p

The firm will have a evaluate its credit policy in terms of both return and costs of
additional sales. Additional sales should add to the firms operating profit. There are three
costs involved:p
1. Production and selling cost,p
2. Administration cost andp
3. Bad-debt losses.p
The firm's operating profit is maximizes when total cost is minimized for a given level of
revenue. Optimum credit policy is one which maximizes the firm's value. The value of the firm
is maximized when the incremental or marginal rate of return of an investment is equal to
incremental or marginal cost of funds.p
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Bhilai Steel Plantp 6.21p

urgapur Steel Plantp 2.85p
Rourkela Steel Plantp 2.90p
Bokaro Steel Plantp 6.50p
IISCO Steel Plantp 2.37p
Alloy Steels plantp 0.43p
Salem Steel Plantp 0.36p
Visvesvaraya Iron & Steel Plantp 0.22p
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ëpppppTo study and analyze how effectively the debtor's and debt are being managed in Salem
Steel Plant from year 202 to 2006p

ëpppppTo study the credit policy in Salem Steel Plant and to give them suggestion regarding
pertinent development and actions to strengthen the receivables management process
of the company.p
ëpppppTo do a comparative analysis between the year 2003 to 2007 regarding and increase in
sales of the company.p
ëpppppTo do a trend analysis between the 2002 to 2007 regarding the payable to the increase
or decrease in the company.p
Àc À

p
The study highlights on the various aspects like company's ability to get back their loans
at agreed duration and installment, the company's ability to retrieve their money from the
defaulter or any compensation for the same and legal actions taken against default customers.
The study says about the various credit proposals applied to the company are bound to repay it
tin pre specified duration in agreed installment and interest rates.p
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Research methodology is a way to systematically solve the research problem. It shows all
the details of data which have been used for the research and procedures which have been
followed in the study.p

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p
The method adopted for the study is historical research. It is based on the study of past
and current records of existing delinquent customers to analyze the default status of their
account and its significance in order to draw a conclusion. The research is descriptive in
nature as the study was done on the existing data. The research design used in this study is
descriptive research design. A descriptive study is undertaken in order to study and analyze
the receivables of the company with the available data.p

c c p
SECONARY ATA:p
It was got from the published annual reports and database of the company for the
corresponding years for which the study has been made.p
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In order to study and analyzes the debtors management of the company the following
tools are used.p
§pppppppRatio Analysisp
§pppppppComparative financial statementp
§pppppppTrend Analysisp
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Ratio analysis is one of the popular tools of financial statement analysis. A ratio can be
defined as "indicate quotient of two mathematical expressions" and as "the relationship

between two or more things". A financial ratio is defined as a relationship between two
variables taken from financial statement of the concern.p
It's a mathematical yardstick that measures the relationship between the two financial
figures. Experts have identified ratios as significant and improvement too, since they through
considerable light on financial position of the concern.p
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Any financial statement that reports the comparison of data of two or more
consecutive according periods is known as comparative financial statement.p
According to A.F.Foulke "comparative financial statement are statement of the
financial position of a business so designed as to provide time prospective to the
consideration of various element of financial position embodied in such statement".
Such a statement spotlights trends and establishes relationship between items that
appear on the same row of a comparative financial statement. Mush valuable
information is obtained from statement in this manner.p
À

p
1.Ratio analysis lacks standard values for the ratio; therefore, scientific analysis is not
possible.p
2. As there are no standards with which to compare, ratio analysis fails to throw light
on the efficiency of any activity of the business.p
3. Ratio analysis gives only the relationship between different variable and the actual
magnitudes are not known through the ratio.p
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A Study On Training and Development of Employees in Salem Steel Plant

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A Study On Training and Development of Employees in Salem Steel Plant

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