Hellloooo..

Hey! Its Thursday! haha. well, today i had 2 class which are principle and practice of management MGT 420 and financial accounting ACC 418.. we were supposed to have economics (ECO 415) class but it was cancelled so we spend the time doing our accounting assignment. In MGT 420, we learnt about TOTAL QUALITY MANAGEMENT which the the second last chapter for this course. well, TQM is a continuous process involving all organizational members in ensuring that every activity related to the production of goods and services has an appropriate role in establishing product quality.

4 importance of TQM are

1. consumers are becoming more sophisticated
2. coping with competition
3. containing costs
4. crisis management

There are a few elements of TQM such as committed and effective leaders, planning of company's strategy, monitoring, training, teamwork, evaluation and feedback, benchmarking, long-term change, customer satisfaction and customers and suppliers.

Then the last chapter is about Planning in the perspective of Islam. well, the concept is almost the same but Planning in Islam is more into referrig to the al-Quran and al-Sunnah..

Then for Accounting class, we learned about FINANCIAL STATEMENT ANALYSIS AND FINANCIAL RATIOS.

The objective of financial statement analysis is

• to identify the weaknesses as well as the strength of a business
• to take appropiate steps or action to overcome any weaknesses
• to enable the business to improve its overall financial situation in the future.

in this chapter, we learned how to count the ration and in my opinion, it is much better than adjustment! hehe.

THATS ALL FOR TODAY! IM SOOOO TIRED.. NEED TO STUDY FOR TESTS TOMORROW!