BCom 1st Year Report Writing Question Answers
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BCom 1st Year Report Writing Question Answers
Q. 1. State the meaning, objectives, and types of a proposal: How are the proposals planned?
Or, What is meant by a proposal? What are the objectives and types of a proposal? Give the structure of a proposal.
Ans.
MEANING OF PROPOSAL
A proposal means a presentation for consideration of another party. It gives some information on a particular issue to another party or parties. A proposal puts the ideas or opinions or methods of doing something before the other party or parties. A proposal is a way of putting an offer before another party for the purpose of getting his consent thereto.
Examples of Proposals are a Proposal for a company to merge with another company, a proposal for an advertising agency to promote a product, a notice inviting tenders from contractors, a proposal to declare a dividend, a proposal to call a meeting, etc.
Features of Proposals
- Generally, proposals are written. However, they can be oral or a combination of both also.
- Proposals may be made by a person or an organization or an association, etc.
- Proposals may be made to an individual or an organization or an association or a government agency etc.
- Proposals can be internal or external. Internal proposals are made by one part of a business to another part. External proposals are made out of the organization.
- A proposal must be put on offer or an idea or an opinion or a method etc.
- A proposal must be made with an intention of mutual agreement.
OBJECTIVES OF PROPOSAL OR NEED OF A PROPOSAL
A proposal is made with two important objectives:
(i) To get the idea or opinion accepted.
(ii) To get you accepted to do the job.
A proposal can be made for the following purposes:
- To propose a change in policy and programme.
- To propose some selections and to settle the terms of employment.
- To propose a declaration of dividend.
- To sell a property, to construct buildings, roads, bridges, structures, plants, etc.
- To improve engineering performance within a company.
- To plan and develop some research.
TYPES OF PROPOSAL OR CLASSIFICATION OF PROPOSAL
A proposal may broadly be divided into two parts:
1. Solicited Proposal: A solicited proposal means a proposal that is made in response to a formal request. Such a request is called RFP (Request for proposal). Business enterprises usually initiate solicited proposals by issuing a request for a proposal. They invite bids from contractors for work or a project. Similarly, business enterprises that do not have their own research and development departments, invite proposals to fulfill their needs for specific products and services.
In response to their invitations, a number of proposals are received and the best proposal is selected. Therefore, such a proposal should be prepared carefully. It must show that you can satisfy their needs in an efficient manner and better than all other competitors.
2. Unsolicited Proposals: An unsolicited proposal is a proposal that is made by a business enterprise on its own and not in response to a request. Such a proposal offers something to potential customers with the hope that they will agree to it. In this way, unsolicited proposals may be regarded as sales letters. AIDA formula guides the preparation of such proposals:
(i) A: Attention of readers is drawn to the products or service.
(ii) I: Interest of readers is built up in the product or service.
(iii) D: Desire is persuaded to go ahead with the proposal, discuss the matter, and finalize things.
(iv) A: Action is inspired to buy the product or to do the act.
PLANNING OF PROPOSAL
A proposal can be planned by dividing it into four parts:
1. Title Page: The title page of a proposal should give the heading of the proposal, the name and address of the proposer, the name, and address of the person or organization to whom the proposal is submitted, the date of the proposal, etc.
2. Introduction (Synopsis): A proposal should start with its introduction. This part should present the basic idea of the proposal. It should cover the background of the proposal, the main theme of the proposal, and also the limitations of the proposal. It should be prepared in a manner that the reader may get an idea of the complete proposal through it. It should speak about how objectives will be met and what procedures will be followed. (BCom 1st Year Report Writing Question Answers)
3. Text of Proposal: It is the main part of the proposal. It persuades the reader to understand the proposal in full and also the terms of the proposal. If it is a solicited proposal, it is governed by the request for the proposal because most of the requests spell out how to submit a proposal. If it is an unsolicited proposal, it should be drafted in a manner that the client may come to your ideas.
It should establish the need for action and focus on the benefits of the proposal. It may cover the planning of the job ahead and also the steps to be taken for completing the job. It should cover the financial aspects of the proposal also. It should describe the capability and experience of your organization in doing the jobs of the proposed nature and also the facilities available in your organization to do the job.
4. Conclusion: A detailed proposal should have a conclusion section also. It should contain a summary of all the details of the proposal. This section should be relatively brief, positive, and persuasive. It should convince you why you and your organization are the best ones to do the job.
Q. 2. State the meaning, characteristics, and objectives of the report.
or, What is a report? What are its features and objectives?
or, State the meaning and importance of the business report.
Ans.
MEANING AND DEFINITION OF REPORT OR MEANING AND DEFINITION OF BUSINESS REPORT
A report means a statement prepared to present some facts and information. The term report is used in two senses: wide and narrow. In its wide sense, all reports may include any presentation or information. In a narrow sense, a report is a formal presentation of facts. A report is a part of administrative functions and depicts all commercial activities of a business. It has been defined as under:
“A business report is an orderly and objective communication of factual information that serves a business purpose.” -Lesikar.
“A business report is an unbiased and arranged presentation of facts by one or more than one persons for a definite and specified important business purpose.” -Louis L.N.
“Report is a documentation in which by the purpose of providing information, a specific problem is researched and analyzed and conclusions, thoughts and sometimes references are presented.” –Koontz and O’Donnel.
Thus, a report is an unbiased, orderly, and objective presentation of facts for a specific business purpose.
CHARACTERISTICS OR FEATURES OF A REPORT
Important characteristics of a report are as follows:
- Orderly Arrangements: A report is an orderly presentation of facts. It should be prepared in a definite and arranged manner.
- Objective and Unbiased: A report must be objective and unbiased. It should speak the truth, free from fear and favor.
- Factual Information: A report must provide factual information. It should be based on events, records, research, and data. It may be a conclusion of completed jobs and a description of business activities.
- Business Purpose: Though reports are prepared in every walk of life, yet a business report must serve a business purpose.
OBJECTIVES OR FUNCTIONS OF BUSINESS REPORT OR NEED AND IMPORTANCE OF BUSINESS REPORT
Important objectives or functions of a business report may be summarised as follows:
- Helpful in Measuring Performance: Primary object of a business report is to measure and evaluate business performance. It helps in determining the areas in which the performance has been weak so that it may be improved.
- Helpful in Planning: A business report prepares a base for planning for the future. Management can prepare and modify its plans based on these reports.
- Helpful in Decision Making: Business reports are an important tool for decision-making. A number of business decisions are taken on the basis of reports. (BCom 1st Year Report Writing Question Answers)
- Helpful in Controlling: Business reports help in determining variances between budgeted and actual performance. It helps in determining where the · things are not going in accordance with plans and targets. It guides as to where the control is required and to what extent.
- Helpful in Combating Changes: Change is a permanent feature of life. Business reports analyze and convince the impact of changes on business affairs. These reports guide the employees on what to do and what not to do under changed conditions.
Q.3. What are the types of business reports? Explain the essentials of an effective business report.
or, State the meaning and types of business reports. Also, explain the qualities of a good report.
Ans.
MEANING OF BUSINESS REPORT
A report means a statement prepared to present some facts and information. A business report is a formal presentation of facts and depicts all commercial activities of a business. A report is an unbiased, orderly, and objective presentation of facts for a specific business purpose.
TYPES OF BUSINESS REPORT
Business reports may be classified on several bases:
- On the Basis of Legal Formalities
(i) Formal Report: Formal report is a report which is prepared in a prescribed form and presented according to the flow of organizational structure. It may again be divided into two parts:
(a) Statutory Report: If a report is prepared to comply with legal requirements, it is called a statutory report. It is prepared in the form and according to the procedure laid down by law. Examples: Statutory report at the time of formation of the company, directors’ report at an annual general meeting, annual return, auditor’s report, etc.
(b) Non-statutory Report: When a report is prepared in a company to help the management in policy-making or decision-making, it is called a non-statutory report. Such reports are prepared according to the need and objectives of an enterprise.
(ii) Informal Report: An informal report is prepared in the form of a letter or memorandum. It is in the form of person-to-person communication and relates to day-to-day affairs. These reports are prepared in the way and form required and do not follow a prescribed form.
- On the Basis of Functions
(i) Informative Report: A report which presents some facts or information, is called an informative report. It reveals the results of some research or survey or study etc. (BCom 1st Year Report Writing Question Answers)
(ii) Interpretative Report: A report which analyses the facts, draws conclusions, and makes recommendations, is called an interpretative or analytical report. Such a report is used to make a comparative study of two periods or concerns or events also.
- On the Basis of Frequency of Issue
(i) Periodic or Routine Reports: Periodic or routine reports are the reports which are prepared and presented at regular intervals in the routine affairs of the business. These reports may be daily, weekly, fortnightly, monthly, quarterly, half-yearly, annually, etc. These reports contain a statement of facts and an analysis of performance. (BCom 1st Year Report Writing Question Answers)
(ii) Special Reports: A report which is prepared on a special occasion or in a particular situation, is called a special report. Such reports deal with problems of non-recurring nature. Such reports are prepared to take some important decisions such as the opening of a new branch or launching a new product or announcing a new scheme, etc. (BCom 1st Year Report Writing Question Answers)
- On the Basis of Subject Matter
Different reports deal with different subject matters on this basis, a report may be of the following types.
(i) Technical Report
(ii) Financial report
(iii) Performance report
(iv) Fact-finding report
(v) Problem solution Report
- On the Basis of the Number of Persons
A report may be prepared by one person or a group of persons or a committee. On this basis, a report may be of the following types:
(i) Report by individuals.
(ii) Report by a committee or a sub-committee.
ESSENTIALS OF A GOOD REPORT OR CHARACTERISTICS OF AN EFFECTIVE BUSINESS REPORT
Business reports occupy an important place in the management, administration, and control of a business enterprise. Therefore, business reports must be effective. An effective business report must possess the following characteristics:
- Accuracy: An effective business report must be accurate. It should tell the truth. Since a business report is the base of decision-making, it should be reliable. The following points should be observed in this respect.
(i) Facts of a report should be thoroughly checked and verified.
(ii) Facts or events should be described in concrete terms.
(iii) All relevant facts should be disclosed and irrelevant facts should be avoided.
(iv) Facts and details should be put in perspective.
- Good Judgment: An effective business report should be based on good Judgment. It should be free, fair, and unbiased. The following points should be considered in this regard:
(i) Main idea of the report should be given in the beginning.
(ii) Language and style of the report should be determined according to the standard & status of the receiver.
(iii) Likes, dislikes, and needs of readers should be kept in mind while preparing a report.
- Format, Style, and Organisation of Report: The format, style, and organization of the report should be determined considering the needs of the reader. It depends upon the following questions:
(i) Whether the report is voluntary or authoritative?
(ii) Whether the report is of routine nature or on an important issue?
(iii) Whether the report is internal or external?
(iv) Whether the report is informative or analytical?
(v) What is the probable reaction of the reader?
- Precision: An effective report must be short and precise. Relevant and to-the-point facts should be disclosed. It gives coherence to the report. However, all necessary facts and information must be included.
- Objectivity: A report must be objective and impartial. Only the relevant and necessary facts and information must be given in the report. The report should be closed with a specific recommendation. The self-interest of the writer should be sacrificed while preparing a report.
Q. 4. How is a report organized?
Or, How is a report planned?
Or, What is the short and detailed report? How are they planned?
Ans. For the purpose of planning and organization, business reports may be divided into two parts:
(A) Short Report, and (B) Long Report or Formal Report.
(A) SHORT REPORT
Meaning of Short Report
A short report is a report which presents the description in a short form. Such a report is concise and to the point. It needs a less detailed introduction, a short description, no appendices, and excessive formality. A short report is presented in a letter or memorandum form. A short report begins directly-most important information is given in the beginning. Such reports are written between persons who know each other very well and there is no need for formalities. (BCom 1st Year Report Writing Question Answers)
Planning or Organisation of a Short Report
Short reports are planned as follows:
- Format: For brief internal reports, a memo form should be adopted. For brief external reports, a letter form should be adopted. Headings should be used wherever required. Important information or fact or recommendation should be emphasized. It should be divided into paragraphs according to need. (BCom 1st Year Report Writing Question Answers)
- Opening: In the case of routine memos, the subject of the report should be given in the beginning. First, one or two sentences should be given as an introduction. For other short reports, these topics may be covered in the introduction
- Body (Finding and Supporting Details): Main contents of the report should be given in this part. This part should discuss the topic in detail and provide supportive data also. It should be divided into an appropriate number of paragraphs. Each paragraph should cover one topic. The language and style of the report should be appropriate and according to the need of the matter and the status of the receiver. Informal style (‘T’ and ‘You’) should be adopted for letter and memo forms. An impersonal style should be adopted for formal short reports. Direct order should be adopted for informational and analytical reports. Irrelevant and unnecessary details should be avoided.
- Closing: A short report should be closed with a summary of important findings and recommendations. These points should be arranged in the order in which they appear in the text. It should be ensured that conclusions and recommendations given in this part follow logically from the text.
(B) LONG REPORT OR FORMAL REPORT
Meaning of Long or Formal Report
A long report (formal report) provides information in detail supported with facts. It provides more prefatory information, more visuals, and more forms of support. It involves greater length and depth of discussion. Complex problems and major issues are discussed in such reports. The report is prepared generally in parts and each part confines to a particular piece of information. Thus, a long (formal) report means a more detailed and complex report. (BCom 1st Year Report Writing Question Answers)
Planning of a Long (Formal) Report
A long (formal) report is divided into three parts:
1. Prefatory part, 2. Text of report, and 3. Supplementary part.
- Prefatory Part (Introduction): Prefatory part of a long (formal) report consists of the following parts:
(i) Cover page gives the name and logo of the company. It is made up of heavy paper and attractive look.
(ii) Title Cover gives the title of the report along with the year. It may give the identification of the writer and recipient also.
(iii) Forward or preface is also given in very long and highly formal reports.
(iv) Table of contents gives a description of the order of contents of the report.
(v) List of illustrations contains a list of parts and illustrations with page numbers.
(vi) Executive summary gives the main points of the report in brief.
- Text of Report: The text of the report includes the following parts and order:
(i) Introduction gives the purpose, coverage, limitations methodology, definition of important terms used, etc. It prepares readers to receive the report.
(ii) Body consists of the main part of the report. It is divided into different chapters or sections. Each chapter deals with a different part or aspect of the problem. Supportive proofs are also given in this part. It contains all the required information and details.
(iii) Summary gives the important findings of the report so that the report may be analyzed and understood in nutshell.
(iv) Conclusions are the answers to questions that led to the report. It explains the meaning of the information given in the report.
(v) Recommendations are the opinions and suggestions as to what should be done and what should not be done. These recommendations flow directly from the contents of the report. (BCom 1st Year Report Writing Question Answers)
- Supplementary Parts: Supplementary part of a long report may contain the following:
(i) Appendices contain the items that are useful to support the text of the report but could not get a place in the text. It may be in the form of questionnaires, working papers, summary tables, charts, etc. (BCom 1st Year Report Writing Question Answers)
(ii) Bibliography gives the list of sources of information used in the report.
Q. 5. How is a report prepared?
Or, Enumerate the steps of the process of preparing a report.
Or, What is a business report? How is it prepared?
Ans.
MEANING OF BUSINESS REPORT
A report means a statement prepared to present some facts and information. It is a formal presentation of facts and depicts all commercial activities of a business. A report is an unbiased, orderly, and objective presentation of facts for a specific business purpose.
PREPARATION OF REPORT
Business reports have an important place in the management and administration of the business. Therefore, these reports should be prepared in a scientific manner. It involves the following steps:
- First step: Identifying the Problem: The first step in preparing a report is to identify and define the problem for which the report is to be prepared. It defines the purpose of the report. Different reports may be prepared for different problems.
- Second Step: Keep Notes: After defining the problem, you should start to collect the information and data that may be useful in your report. You should maintain notes of everything you get or learn or come to know. The problem to be investigated is divided into small parts. Efforts should be made to collect more and more information on the problem. A folder or file or box can be maintained to collect and keep this information and notes. (BCom 1st Year Report Writing Question Answers)
- Third Step: Make the Outlines of Report: At this stage, an outline of the report is prepared. It gives you a skeleton of the report that can be changed, modified, and adjusted as you get more information and ideas. It should be prepared in a logical order of presentation because the report prepared by you will be read and understood by other people. A report can be presented in two ways: The inductive method and the deductive method. The inductive method suggests that different parts should be prepared and then they should be compiled in the report. The deductive method suggests that a report should be prepared first and then it should be divided into parts.
- Fourth Step: Write to the Level of Readers: All the reports are prepared for those who have to understand and follow them. A report can be effective only if it is understood by its readers. Therefore, the need is that the level and status of readers should be understood and the report should be prepared according to it so that it may serve its purpose properly.
- Fifth Step: Check, Correct, and Change: This is the stage at which the cut lines of the report are thoroughly checked and corrected, wherever necessary. The outlines can be added, subtracted, and altered according to need.
- Sixth Step: Label the Research Papers: In this step, experiments are conducted to solve the problem. If some research has been conducted to solve a summary of the research is also included in the report.
- Seventh Step: Rough Drafting: This is the stage at which a report is drafted. The following points should be observed in this regard:
(i) The report should be prepared in a logical manner.
(ii) The report should be understandable by its users.
(iii) Technical terms should be explained.
(iv) The language and flow of the report should be simple and convincing.
(v) Graphs, charts, and visuals should also be used, wherever necessary.
(vi) Footnotes may also be given to explain some terms and to give credit to those whose ideas are being used.
- Eights Step: Revision of Rough Draft: At this stage, grammar, spelling, and punctuation should be checked and corrected. If possible, a rough draft should be set aside for a while and should be given a fresh look. It should be reread and rechecked. It helps in ensuring that the report includes all that is relevant and does not include anything that is irrelevant. It ensures that the ideas flow in a logical manner from one to another. (BCom 1st Year Report Writing Question Answers)
- Ninth Step: Compile and Complete the Report: At this stage, you are all set to understand that the report is final and complete. It should be neatly typed or printed and presented in an attractive manner.
BCom 1st Year Report Writing Question Answers
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