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Practicality, not theory is needed
I fully agree with Manjari Raman when she says in ‘Good to be
down and out’ (Sept 18) that bargains can be snapped up in the
US in these tough times. These days the trend is more towards
acquiring technology and inadequate attention is paid to the
skills needed to bring in business to an organisation. Schools
and colleges do not teach students how to carry out market research,
the art of good salesmanship and product promotion, skills of
negotiation, or basic business etiquette. Although they do teach
accountancy, which is linked with sales, this is taught in a
clumsy manner.
In many substandard accountancy books, there is a tendency to
journalise every transaction, as if a journal is the main book.
But cash and bank for day to day use are entered in the cash
book, not the journal. The journal doesn’t count for double
entry purposes, it is the ledger in which double entry is maintained.
Most books state that when ‘goods’ are brought in, they should
be debited and when ‘goods’ go out, they should be credited.
But goods brought in and out by a businessman are not his assets.
They are raw materials, stock-in-trade or finished goods. Hence,
for all practical purposes, these are purchase and sale transactions.
They should be recorded in the ledger, not in the ‘goods’ account.
We need practical education, not theoretical stuff, if we are
to go global.
— Ahmed M Rowjee, Mumbai
Jai Kisan
Kudos to the State Bank of India for its loan scheme for farmers.
In fact, banks should also consider giving loans at concessional
rates for the purchase of houses. Banks could charge 8 to 8.5
per cent and the repayment period could be 15 to 20 years. Housing
projects and related infrastructure-building activities would
thus get a boost.
— Satish Murdeshwar, on e-mail
Security by stealth
In the aftermath of the World Trade Centre attacks, there
has been a lot of talk about enhanced security measures. It
is disappointing to note that many of us have not realised
that security is about an attitude and one can’t change attitudes
or implement stricter measures overnight, after one incident.
It has to seep into one’s blood. It is in this regard that
I note with dismay that the new measures that have been proposed
for implementation are being discussed openly in the print
and visual media. Such discussions only serve to alert the
other side and enable them to devise counter measures. Thus,
even before their launch, the effectiveness of these proposals
is rendered null and void. I appeal to the authorities and
the media to desist from such discussions.
— T R Ramaswami, on e-mail
Urban bias
Some changes are being proposed in the fixing of minimum support
prices for agricultural produce. It is a well known fact that
agricultural lands are being degraded, water bodies have become
polluted and ground water level is receding at a fast rate.
Naturally, the impact of the above upon land productivity
will be severe. How would farmers be compensated for their
loss? I suggest that the loss of productivity of land, water
and additional health risks due to usage of agro-chemicals
etc be taken into consideration. If not, the whole pricing
mechanism would favour urban areas.
— Laxmi Narain Modi, New Delhi |
