meaning of assignment in commerce

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Assign: What It Means, How It Works, Example

What Is Assign?

Broadly speaking, to assign is to transfer the rights or property from one person or business to another. An assignment can be any transfer of any sort of rights. In the financial markets, the term "assign" generally relates to the party that is required to deliver on an options contract . In the wider business world, it may also refer to the transfer of trademarks, banknotes, or other property rights. Mortgage assignments involve transferring mortgage deeds, while lease assignments transfer lease contracts.

Key Takeaways

To assign in the options market is to randomly match buyers and sellers for maturing or exercised options contracts.
The assigned party is required to deliver the assets underlying the options to the contract holder at the date established by the contract.
More generally, to assign is to transfer rights or property from one party to another.

Understanding Assign

To assign means one of two actions taken in transferring rights. It refers either to the transfer of property rights from one individual or entity to another individual or entity or when an options contract is exercised . When an options contract is exercised, the owner of the contract assigns an options writer to the obligation to fulfill the requirements of the contract.

In the options and futures contract markets, assign is the matching of counterparties. The process is random and carried out by clearinghouses and brokerages. Once the assignment is made, the underlying securities or commodities are delivered to the holders of maturing or exercised contracts.

For example, if one trader is looking to purchase a May futures corn contract and another trader is looking to sell a May futures corn contract, the clearinghouse would match the requests of both traders, assigning them the appropriate contracts. The traders themselves will not have to search for the corresponding contract but just execute their orders, which are then matched by the clearinghouse.

Not all options contracts will be exercised or tendered. The ones that are exercised or tendered must be settled with the delivery of the underlying security. These are randomly assigned to brokerages that, in turn, randomly select which of their clients will be assigned.

During an assignment of options or futures contracts, the clearinghouse assigns an option writer who will be the required buyer or seller of the underlying contract upon its exercise.

Assign and Options

Options offer the right but not the obligation to buy an underlying asset at a specific price. In the U.S. markets, options can be exercised anytime, while options in the European markets are exercised only on the option expiration date. If an option is exercised, the assignment will be made immediately.

When an option is exercised, the option writer, who is the call seller, in this case, must fulfill the obligations of the contract. The call writer could be obligated to sell a specific number of underlying securities for a specific price, for example.

Options buyers speculate on the future movements of stocks or other assets. Option buyers believe that the underlying asset will move one way, while option sellers, who are called writers, are betting that the asset moves in the opposite direction.

Brokerages and clearinghouses are needed to connect buyers and sellers of options contracts. The seller and writer of a call option will sell a set number of shares at a set price if the option is exercised. If the option is called, the brokerage assigns a client with a short position, again at random, to deliver the stock to another client with a long position in the same contract. The brokerage will randomly select the counterparty who must deliver the asset when the contract requires it to be delivered.

Assign and Property

In regards to property, assign refers to the transfer of rights. This can refer to any asset, whether tangible or intangible , property, or contract. The assignment is completed via an agreed-upon written document.

For example, a mortgage assignment is when the mortgage deed allows an individual interest in a property in return for payments received. Many banks that have mortgages sell their mortgages to other lenders in return for a lump payment in order to free up their balance sheet to make new mortgages. The bank would be assigning their mortgages to another lender.

Another form of property assignment includes wage assignments , where a court rules that a portion of a person's wages must be withheld in order to make specific payments, such as alimony .

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Business Jargons

A Business Encyclopedia

Definition : Commerce refers to the well organized set up of large-scale interchange of products, service or something of value, for money or money’s worth, among the economic agents. It covers all the activities which directly or indirectly assist in the process of exchange.

Basically, it is concerned with the distribution aspect of the business. It relies on the fact that everything that is produced, must be consumed. In this way, ‘commerce’ comes into the picture, to facilitate effective and uninterrupted buying and selling of goods and services.

Characteristics of Commerce

Commerce is a subset of business and not a synonym. Come let’s talk about its characteristics:

Commerce provides the necessary link amidst the producers of goods and consumers of goods.
It is known for the exchange of goods and services for adequate consideration.
Commerce covers the services delivered by various organizations, to facilitate the free flow of goods and services.
It removes all the barriers, as to person, place, time, risk, knowledge, finance, etc. in the process of exchange.
Profit acts as an incentive for carrying out commercial activity.
It tends to create utility.

Classification of Commerce

Wholesale : In wholesale trade, the goods are bought in large quantities from the producers and the sold to a number of retailers.
Retail : In retail trade, the retailer purchases goods from the wholesaler for the purpose of reselling them to the consumers in small lots, for a profit.
Import : When goods are purchased from a foreign country, it is called as an import.
Export : When goods are sold to a foreign country, it is called export.
Entrepot : Entrepot trade means re-export, i.e. goods imported from a foreign country, not for domestic consumption but for selling it further to another country.
Transportation : Transportation activities facilitate in the removal of the hindrance of place, as goods are produced in a specific location only, while they are demanded in varied locations. Hence, these goods need to be moved from their place of origin to the place of consumption.

There are a number of goods which are produced in specific seasons, for instance, cotton, juice, sugar etc. However, they are needed throughout the year, on a daily basis for different purposes and then there are some goods which are needed season-wise such as woollen clothes, umbrellas, etc.

Insurance : We all know that there is always a risk involved in the transportation of goods and services from one place to another. With the insurance, the risk of theft or fire can be removed and the organization can be free from the fear of loss during transit.
Communication : The goods and services provided by different organizations are required to be communicated among the buyers. In the same way, goods and services needed or desired by the buyers have to be conveyed to the sellers, by way of orders.

In layman terms, commerce is not just about the exchange of goods and services, rather it includes all such activities which are essential to bringing goods and services from the point of origin to the point of consumption.

Related terms:

Functions of Foreign Exchange Market
National Income

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Definition of assignment

task , duty , job , chore , stint , assignment mean a piece of work to be done.

task implies work imposed by a person in authority or an employer or by circumstance.

duty implies an obligation to perform or responsibility for performance.

job applies to a piece of work voluntarily performed; it may sometimes suggest difficulty or importance.

chore implies a minor routine activity necessary for maintaining a household or farm.

stint implies a carefully allotted or measured quantity of assigned work or service.

assignment implies a definite limited task assigned by one in authority.

Examples of assignment in a Sentence

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'assignment.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

see assign entry 1

14th century, in the meaning defined at sense 1

Phrases Containing assignment

self - assignment

Dictionary Entries Near assignment

Cite this entry.

“Assignment.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/assignment. Accessed 19 May. 2024.

Legal Definition

Legal definition of assignment, more from merriam-webster on assignment.

Nglish: Translation of assignment for Spanish Speakers

Britannica English: Translation of assignment for Arabic Speakers

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Definition of assignment noun from the Oxford Advanced American Dictionary

Questions about grammar and vocabulary?

Find the answers with Practical English Usage online, your indispensable guide to problems in English.

2 [ uncountable ] the act of giving something to someone; the act of giving someone a particular task his assignment to other duties in the same company

Nearby words

Assignment of Contract

Jump to section, what is an assignment of contract.

An assignment of contract is a legal term that describes the process that occurs when the original party (assignor) transfers their rights and obligations under their contract to a third party (assignee). When an assignment of contract happens, the original party is relieved of their contractual duties, and their role is replaced by the approved incoming party.

How Does Assignment of Contract Work?

An assignment of contract is simpler than you might think.

The process starts with an existing contract party who wishes to transfer their contractual obligations to a new party.

When this occurs, the existing contract party must first confirm that an assignment of contract is permissible under the legally binding agreement . Some contracts prohibit assignments of contract altogether, and some require the other parties of the agreement to agree to the transfer. However, the general rule is that contracts are freely assignable unless there is an explicit provision that says otherwise.

In other cases, some contracts allow an assignment of contract without any formal notification to other contract parties. If this is the case, once the existing contract party decides to reassign his duties, he must create a “Letter of Assignment ” to notify any other contract signers of the change.

The Letter of Assignment must include details about who is to take over the contractual obligations of the exiting party and when the transfer will take place. If the assignment is valid, the assignor is not required to obtain the consent or signature of the other parties to the original contract for the valid assignment to take place.

Check out this article to learn more about how assigning a contract works.

Contract Assignment Examples

Contract assignments are great tools for contract parties to use when they wish to transfer their commitments to a third party. Here are some examples of contract assignments to help you better understand them:

Anna signs a contract with a local trash company that entitles her to have her trash picked up twice a week. A year later, the trash company transferred her contract to a new trash service provider. This contract assignment effectively makes Anna’s contract now with the new service provider.

Hasina enters a contract with a national phone company for cell phone service. The company goes into bankruptcy and needs to close its doors but decides to transfer all current contracts to another provider who agrees to honor the same rates and level of service. The contract assignment is completed, and Hasina now has a contract with the new phone company as a result.

Here is an article where you can find out more about contract assignments.

Assignment of Contract in Real Estate

Assignment of contract is also used in real estate to make money without going the well-known routes of buying and flipping houses. When real estate LLC investors use an assignment of contract, they can make money off properties without ever actually buying them by instead opting to transfer real estate contracts .

This process is called real estate wholesaling.

Real Estate Wholesaling

Real estate wholesaling consists of locating deals on houses that you don’t plan to buy but instead plan to enter a contract to reassign the house to another buyer and pocket the profit.

The process is simple: real estate wholesalers negotiate purchase contracts with sellers. Then, they present these contracts to buyers who pay them an assignment fee for transferring the contract.

This process works because a real estate purchase agreement does not come with the obligation to buy a property. Instead, it sets forth certain purchasing parameters that must be fulfilled by the buyer of the property. In a nutshell, whoever signs the purchase contract has the right to buy the property, but those rights can usually be transferred by means of an assignment of contract.

This means that as long as the buyer who’s involved in the assignment of contract agrees with the purchasing terms, they can legally take over the contract.

But how do real estate wholesalers find these properties?

It is easier than you might think. Here are a few examples of ways that wholesalers find cheap houses to turn a profit on:

Direct mailers
Place newspaper ads
Make posts in online forums
Social media posts

The key to finding the perfect home for an assignment of contract is to locate sellers that are looking to get rid of their properties quickly. This might be a family who is looking to relocate for a job opportunity or someone who needs to make repairs on a home but can’t afford it. Either way, the quicker the wholesaler can close the deal, the better.

Once a property is located, wholesalers immediately go to work getting the details ironed out about how the sale will work. Transparency is key when it comes to wholesaling. This means that when a wholesaler intends to use an assignment of contract to transfer the rights to another person, they are always upfront about during the preliminary phases of the sale.

In addition to this practice just being good business, it makes sure the process goes as smoothly as possible later down the line. Wholesalers are clear in their intent and make sure buyers know that the contract could be transferred to another buyer before the closing date arrives.

After their offer is accepted and warranties are determined, wholesalers move to complete a title search . Title searches ensure that sellers have the right to enter into a purchase agreement on the property. They do this by searching for any outstanding tax payments, liens , or other roadblocks that could prevent the sale from going through.

Wholesalers also often work with experienced real estate lawyers who ensure that all of the legal paperwork is forthcoming and will stand up in court. Lawyers can also assist in the contract negotiation process if needed but often don’t come in until the final stages.

If the title search comes back clear and the real estate lawyer gives the green light, the wholesaler will immediately move to locate an entity to transfer the rights to buy.

One of the most attractive advantages of real estate wholesaling is that very little money is needed to get started. The process of finding a seller, negotiating a price, and performing a title search is an extremely cheap process that almost anyone can do.

On the other hand, it is not always a positive experience. It can be hard for wholesalers to find sellers who will agree to sell their homes for less than the market value. Even when they do, there is always a chance that the transferred buyer will back out of the sale, which leaves wholesalers obligated to either purchase the property themselves or scramble to find a new person to complete an assignment of contract with.

Learn more about assignment of contract in real estate by checking out this article .

Who Handles Assignment of Contract?

The best person to handle an assignment of contract is an attorney. Since these are detailed legal documents that deal with thousands of dollars, it is never a bad idea to have a professional on your side. If you need help with an assignment of contract or signing a business contract , post a project on ContractsCounsel. There, you can connect with attorneys who know everything there is to know about assignment of contract amendment and can walk you through the whole process.

ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.

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The cargo could be transferred to another consignee or shipping company by assignment in overseas shipments. Mostly it's seen at ocean freight. Assignment (shipping assignment) enables the transfer of a shipment's rights and ownership of the goods to any other consignee. The assignment term is used in connection with a B/L. The assignment involves the transfer of rights, title, and interest in order to assign goods by endorsing the bill of lading.

What is assignment in shipping terms?

In shipping terms, an assignment refers to the transfer of rights, ownership, or control of goods or a shipment from one party to another. It can also refer to the allocation of tasks or responsibilities to individuals or entities involved in the shipping process.

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PEDAGOGY OF COMMERCE [Teaching of Commerce] - B.Ed Notes

Pedagogy of commerce | teaching of commerce | pedagogy of business studies and accounting | teaching of accounts and business studies | pedagogy of commerce notes for b.ed, what do you mean by pedagogy of commerce is it science or art or both discuss the nature and scope of pedagogy of commerce/ business studies.

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MEANING OF COMMERCE

The meaning of the term ‘commerce’ represents that particular domain of knowledge which deals with the concepts, principles, theories, processes, and skill that could be applied in the proper conduct of all tasks and transactions related to commercial activities .

According to Dr. Evelyn Thomas, “commerce is a term that embraces all those functions involved in the making, buying, selling and transport of goods.”

All the activities which are undertaken in connection with the production of things and carrying them from the place of production to the place of consumption are called business. In short,

The activities connected with the production are called industry,
And the activities connected with the transport of goods produced from the factories to the consumers are called commerce.

Business Activities:

Commerce (Trade, Auxiliaries to Trade)

There is a long way which has to be covered in taking the finished products from the place of production to the place of consumption. It is a misconception that commerce is only the purchase and sale of goods. In commerce, all those activities are included whose objective is to remove the obstacles in the distribution of goods. This process begins in the following way.

Definitions of Commerce

Various scholars have defined the word in the following way.

In the words of Evelyn Thomas , “Commercial occupations deal with the buying and selling of goods, the exchange of commodities, and the distribution of the finished products.”

According to James Stephenson , “Commerce is the sum total of those processes which are engaged in the removal of the hindrances of persons (trade), place (transport and insurance), and time (warehousing) in the exchange (banking) of commodities.”

In the words of William R. Spreegal , “Commerce is mainly concerned with the transfer of goods. The activities related to classification, integration, storing, finance-management and transportation and insurance are to be performed in it.”

Characteristics / Features of Commerce

On the basis of the above definitions following are the characteristics of commerce:

Commerce is the distribution system of goods.
In commerce, all the activities related to the sale and purchase of goods and those which help in sales and purchase of goods are included.
Commerce creates utility.
It brings industry and consumers close to each other.
Commerce helps in providing the good at a relevant price, at a proper time at the proper place, in proper form to the proper person.
It is a study of human beings as producers and consumers.
It is a study of distribution and exchange.

Components of Commerce

On the basis of the definition of commerce we can divide it into two parts:

In general words, trade means buying and selling goods with the purpose of getting profit. In other words, trade means the exchange of goods and services for the purpose of material profit of both the buyer and the sellers. We can carry it on the smallest as well as largest scale. Trade can be classified into two categories:

Home trade : Home trade means buying and selling things within the national boundaries. It includes the following:

Local trade: It has limits to some villages, towns, or districts.
State trade: It is a trade among different districts of a state.
National trade: It is a trade among different states of the country.

Foreign trade : When trade crosses the national boundaries and reaches the foreign land then we call it foreign trade. It includes:

Import Trade : When a businessman of a country buys some goods from the businessman of another country.
Export trade: When the trader of our country sells something to the trader of another country.
Entrepot trade: When a country imports some goods from another country and then exports the same goods to some third country.

Auxiliaries to Trade

Commerce includes not only trade but also various other subsidiary activities which are undertaken to overcome the hurdle appearing in the way of trade. The following activities are included in it:

There are fewer producers and a large number of consumers. Hence, it is not possible for all the consumers to purchase goods directly from the producers. So, there is a need for middlemen to establish contacts between producers and consumers. They consist of wholesalers, retailers,s, etc.

Money is required from the moment when raw material is purchased till the sale of the finished product. Hurdles of finance in the form of cash, letter of credit, the need for foreign exchange, to expand the business arises and these can be eliminated with the help of banking. Other means than banks as finance companies, stock exchanges are also utilized in the present-day economy to raise funds.

Advertising

Nowadays a producer, to attract the customer towards his product, has to provide full knowledge of it to the customer. Advertising helps in this activity. It enhances the knowledge of the customers and eliminates the hindrance of information.

Whether goods are sold on a small scale or large scale, at the time of storage and transporting of these goods from one place to another, the risk is always there as damage of goods, theft of goods, the effect of natural calamities, etc. Insurance can solve this problem.

Warehousing

There remains a time gap between the manufacturing of any product and the consumption of that product. So we have to store finished products. hence we can solve this problem by warehousing.

Transportation

Today, the trade has been extended from the local level to the national as well as international level. Hence, there is a need for transportation. So we can eliminate the hindrance of a trade by transport i.e. by carrying commodities from the production place to place where there is need.

Communication

There is a large distance between the producers, middlemen, and consumers. The means of communication like telephone, telegram, letter, telex, etc. help in finalizing the business deals. Due to the availability of modern means of communication as a computer, internet, etc., we perform business on an international basis.

In the present-day economy, the importance of packaging is increasing day by day. It is needed to maintain the quality of the product and to send it safely. It also provides an attractive look to the product.

Stock and produce exchange

Stock and produce exchange can also be called a measure of the economic growth of a country. These are the important activities of the business. Stock exchange provides a platform for the sale and purchase of shares and debentures whereas produce exchange is an effective means of providing the goods. The stock exchange can have a good impact on disinvestment and providing the proper environment for trade and industries but it can destroy it also.

Thus it is clear that during the sale and purchase of goods there arise many hindrances and these hindrances can be eliminated with the help of commerce.

Nature of Commerce

In the nature of commerce, we have to indicate whether it is a science or an art, a positive science or normative science, whether it can pass moral judgments in business. In order to decide whether commerce is a science or an art firstly we have to understand the meaning of ‘science’ and ‘art’.

Commerce – A Science

Science is a systematized body of knowledge, which traces the relationship between cause and effect. Science is not a mere collection of facts, because a mere collection of facts can never constitute a science. To understand the meaning of science, we should know about the characteristics of science which are as follows:

The attitude of science is objective.
It has a fixed explanation.
It has the power to predict.
The important characteristic is that is systematic.

Thus we find that commerce is that branch of knowledge where the various facts relevant to it have been systematically collected, classified, and analyzed. Judged from this point of view, commerce is a full-fledged science.

Some writers seem to imagine that commerce cannot be given the dignified status of science because:

Lack of exactness in commerce.
Scientific laws are completely true and fixed, whereas in commerce there is no such type of laws because it is based on human efforts which change according to the different situations.
The data on which scientific laws based are correct and true but the data in commerce can’t be so exact and true.
There is the inability to predict the future course of events as accurately as the physical sciences can.

It is no doubt, true that commerce cannot predict the future course of events as accurately as natural sciences and it very often happens that business prophecies are falsified by subsequent events. But on the basis of this only we can’t deny the scientific nature of commerce studies. The only reason for this lack of predictability is that commerce deals with highly complex and various forces, some of which are not amenable to correct prediction. Commerce deals with men endowed with freedom of will and there are no guarantee that they will act in a preconceived manner.

Commerce – An Art

An ‘art’ like science is also a systematized body of knowledge. The object of art is the formulation of percepts immediately applicable to policy. The practical aspect of art distinguishes it from science, which may be merely theoretical. Commerce, in certain respects, is an art as well.

There are several branches of commerce, which offer us practical guidance in the development of trade, in managing an institution. It provides occupational training to the students like clerical, accountancy, etc. It develops human values into the students like patience, honesty, cooperation, brotherhood, etc.

These human values help the students in later life as a businessman. It teaches how to accumulate money and how to invest that.

Thus we can say that commerce is both a science and an art because as a science, it formulates certain rules, principles, and theories while as an art, it gives them a practical shape.

It is both an academic discipline and a vocational discipline. In the words of Proof. Cossa, “Science provides us theoretical knowledge whereas art provides training in practical practices.

Scope of Commerce

Commerce today covers a vast field and comprises many branches of scholarship in its fold. Like the bee it sucks honey from every flavor: The subject matter of commerce is very wide because it includes all the commercial activities performed by the man in the economy.

Commerce is a body of organized knowledge and thoughts about trade affairs. It is a science of arts, trade, and aids to trade; aids to trade are insurance, transport, communication, advertisements, etc.

The scope of commerce has to be broad enough to acquaint the pupils with a wide range of trade activities that are meaningful to them. We generally study the following facts to have a knowledge of the scope of commerce.

The subject matter of commerce

Commerce has its own subject matter. The Commerce area is both a knowledge subject and a skill subject. The objectives of the study of commerce are both preparatory to further studies in colleges and terminal to enter into the careers of middle-level lives of employment. Its subject matter is very vast.

The subject matter of commerce includes the study of general commerce, economics, geography, commercial laws, book-keeping, business management, accountancy, advertising and salesmanship, office practices, etc. Most of the subject matter serves to introduce the students to the activities of business enterprises.

According to University Education Commission 1948-49. Professional business education should include mathematics, statistics, theory of organization, business structure; finance, including management and budgeting of assets and of expenses; philosophy, history, and theory of law and organization of work including economic; process analysis and procedures, standardization of skills, cost analysis and the like.

Form of trade organization and types of trade

If we want to get organized knowledge about the problems of commerce, firstly we have to get knowledge about the nature and types of trade. When the trade is carried on within a country it is known as internal trade. The scope of this type of trade limits to the country and its problems can be solved by keeping the situations of the country in mind. But the problems related to international or foreign trade are different.

The problems related to it may be transportation, exchange control, imperial preference, tax, and toll, etc. thus internal and foreign trade is two different parts of commerce and there is a need to think about the problems related to it from different angles.

It is necessary to understand the organization of the trade to understand its problems. In an ancient period when the field of exchange was limited, the trade was in the hands of individual traders.

So in the present-day economy, there is planning to abolish the role of these middlemen, but their role is so specific and important that it is difficult to finish their complete role. The wholesaler buys the goods in large quantities from the producer or manufacturer or their authorized dealer and sells the same to the retailer in small quantities. Later on, the retailer sells these things to the customers as per their need.

Limitations of Commerce

While studying the scope of commerce, we come to know about the limitations as follows:

It studies only business activities.
Commerce is completely a positive science.
It includes the study of activities related to business.
It studies the activities which are undertaken to overcome the hurdle appearing in the way of trade.

Thus commerce is a vast discipline comprised of different branches of management. We can summarize it as:

Social intercourse: The dealing of one person or class in society with another, familiarity.
The exchange or buying and selling of commodities, especially the exchange of merchandise, on a large scale, between different places and communities, extended trade or traffic.
To carry on trade, to traffic.
It deals with goods and services.
Deals with the creation of form, place, and time utilities.
Deals with a profit motive.

COMMERCE EDUCATION

Commerce education is directly concerned with the day to day life of the students.

According to Herrick, “commerce education is that form of instruction that both directly and indirectly prepares the businessman for his calling”.

In Herrick’s view, commerce education is the preparation of a businessman. It includes all types of education which make one person become a great businessman.

Lyon stated commerce education as “Any education which a businessman has and which makes him a better businessman is for him a commerce, no matter whether it was obtained in the walls of a school or not”.

According to the Lyon curriculum for commerce, education is all the activities of businessmen and the ways by which he became a great businessman. To him that education is not restricted to the schools only since the student can even get his education outside the school i.e., from society.

Importance of Commerce Education

The main purpose of commerce education is to provide knowledge about commerce and to prepare the student for vocational competency
Commerce education is useful for the students to understand the various aspects of changing the ownership of goods
Commerce education is aimed at giving adequate knowledge about the wholesale trade, retail, export trade, import trade, and entire-port trade .
It provides some knowledge about the movement of goods etc., Transport, Communication Insurance, Ware-housing, Money, Banking & Finance, and Mercantile Agencies.

Importance of Accountancy Education

The main purpose of teaching Accountancy is to make the students understand the importance of bookkeeping .
This helps the students to know how to prepare and interprets simple financial statements and reports.
It aids the students to understand the posting of business transactions in the various forms of Accounts books such as journals, ledger, and other subsidiaries' books, etc.
The commerce education helps the students to draw conclusions about the financial position of the organizations.

CORRELATION OF COMMERCE AND ACCOUNTANCY WITH OTHER SUBJECTS

Correlation of Commerce and Accountancy with reference to Economics: These commercial activities complete the full cycle of economic activities. In short, we can say that Economics is the mother of commerce.

Correlation of Commerce and Accountancy with reference to Mathematics: An accountant applies the fundamental arithmetical processes in preparing the accounts. Further in the field of sale tax, income tax, etc. Knowledge of mathematics is essential.

Correlation of Commerce and Accountancy with reference to Geography: The raw materials required for any commercially significant commodity have to be collected from various places and made available in the Centre of production. The availability of such materials is always based upon geographical conditions.

Correlation of Commerce with Business Management:

All activities ensuring the free flow of goods from the producer to the consumer are considered as elements of commerce.
These include transportation, insurance, and advertising banning warehousing. Etc.
Each of these elements demands effective management.
The future of any business that involves the production and sale of goods and services depends on efficient management.
So, it may be said that there is an inseparable relation between commerce and management.

VALUES OF TEACHING COMMERCE AND ACCOUNTANCY

Practical or Utilitarian value
Social value
Cultural value
Moral value
Disciplinary value
Vocational value

RECENT DEVELOPMENTS IN COMMERCE

In Banking: Electronic Funds Transfer System (EFTS), Automated Teller Machines (ATMs), Debit Cards, Credit Cards, Core Banking, Tele Banking, and Internet Banking.
In Marketing: E-commerce
In Insurance Sector: Private Companies
In Communication: Fax, Internet, E-Mail, Extranet, Video Conferencing, and Teleconferencing
In Trade: Online Trading

Planning is the basic or primary function of management. In simple words, planning is deciding in advance what to do, when to do it, how to do it and who is to do it.

According to Y.Dror, ‘Planning is the process of preparing a set of decisions for action in future directed at achieving goals by optional means’.

NEED AND IMPORTANCE OF PLANNING

The plan determines what will be learned by the students.
Planning transforms the available curriculum into activities, assignments, and tasks for students.

The teachers are expected to plan a variety of planning activities. Such planning activities maybe some of the following.

Year (Annual) Plan
Unit (Resources) Plan
Lesson (Daily) Plan

INSTRUCTIONAL PLANNING

Instructional planning is a process of the teacher using appropriate curricula, instructional strategies, and resources during the planning process to address the diverse needs of students.

After getting the work allotted, the teacher’s first task is to plan for the year’s work. This plan is known as Year Plan.

The planning for a unit is known as the unit plan. If the teacher knows the subject matter of each and every unit very well, he can prepare the unit plan after preparing the year plan.

Some examples for units in Commerce and Accountancy are,

Commerce: Trade, Sole trader, partnership firms, Joint Stock Companies, Banking, Insurance
Accountancy: Introduction to accounting, Journal, Ledger, Subsidiary books, Trail Balance, Final account, Rectification of Errors.

LESSON PLAN

Stands (1949) define,” Lesson plan is actually a plan of action. It therefore, includes the working philosophy of the teacher, his/her knowledge of philosophy, his/her information about and understanding of his/her pupils, his/her comprehension of the objectives of education, his/her knowledge of the material to be taught, and his/her ability to utilize effective methods”.

The lesson plan is considered as the teachers’ mental and emotional visualization of the classroom experiences. Lesson plans are prepared based on the objectives.

In simple, it provides an opportunity to become an efficient and excellent teacher.

Steps in a Lesson Plan

Introduction
Presentation
Generalization
Application
Recapitulation
Blackboard Summary
Home Assignment

Basic Principles of a Good Lesson Plan

Clarity of Objectives
Knowledge of the Subject
General knowledge of all subjects
Knowledge of the principles and strategies of teaching
Knowledge of student’s Nature
Clarity about previous knowledge
Knowledge of the class level
Division of Units
Use of Material Aids
Flexibility
Time Conscious
Learn More About Lesson Planning

BLOOM’S TAXONOMY

Education is chiefly concerned with producing or modifying the patterns of behavior in human beings.

After considerable research and investigation, the eminent Educational Psychologist, Benjamin S. Bloom and his associates of USA have come to the conclusion that educational objectives describing student behavior can be classified into three broad categories or domains and these categories are in hierarchical order.

Psychomotor
Learn More about Bloom’s Taxonomy and Revised Boom Taxonomy

MICRO TEACHING

Micro-teaching was introduced in India in 1967. In India, the first book on Microteaching was written by N.L. Dosajh under the Caption ‘Modification of Teacher Behaviour through Micro Teaching (1977).

Micro teaching is a scaled-down sample of teaching in which a teacher teaches a small unit to a small group of 5 to 10 pupils for a small period of 5 to 10 minutes. Such a situation offers a helpful setting for a teacher to acquire new teaching skills and to refine old ones.

D.W. Allen (1966): "Micro Teaching is a scaled down teaching encounter in class size and time".

Learn More About Micro Teaching and All Microteaching Skills

IMPORTANT SKILLS OF MICRO-TEACHING

Skill of Introducing A Lesson
Skill of Reinforcement
Skill of Stimulus Variation
Skill of Explaining
Skill of Illustrating with Examples
Skill of Using Black Board
Skill of Probing Questions
Learn More about Teaching Skills

QUALITIES OF COMMERCE TEACHER

The following are the important qualities for successful commerce and accountancy teacher.

1. Scholarship: This means a sound knowledge of the subject matter.

2. Professional Training: The commerce teacher must have up-to-date knowledge and a thorough understanding of the present banking system, commerce, industry, etc. since he has to teach all these ever-changing aspects to the students.

3. Personality: His personality is the third essential requirement for the commerce teacher to be successful in his profession.

Personality Aspects includes:

Personal appearance
Recognition of the amenities of life
Good language
Sympathy and Understanding
Self-Control
Adaptability and Resourcefulness
Organizing Ability
Directive Ability

Other Qualities:

Good Character
Aptitude in the teaching profession
Use a variety of effective teaching-learning procedures.
Trained by using various techniques
Able to develop and use instructional materials
Organize subject matter for instructional purposes
Appreciate the value of learning
Use appropriate equipment and machines
Conducting carrier guidance programs
Organize and supervise the co-curricular activities

RESPONSIBILITIES OF COMMERCE TEACHER

The following are the responsibilities of the commerce teacher:

Character development
Effective teaching and learning
Adjusting individual difference
Classroom management
Evaluation of pupil performance
Curriculum development and implementation
Developing good family and community relationships
Total school effectiveness
Professional growth and ethics

PROBLEMS FACED BY THE COMMERCE TEACHER

High student low teacher ratio.
Lack of proper infrastructure
Inadequate teaching aids
Untrained and ill-equipped teachers.
It is more content-oriented rather than skill and practice-oriented.
Lack of practical exposure both to the teacher and teaching methods
The content (syllabus) is not up-to-date with the latest scenario
Commerce teacher is a jack of all trades : perhaps he is the only person who is expected to teach all the subjects. Like commerce, banking, entrepreneurship, business management, or sometimes economics as a compulsory subject even if he or she may be interested in accountancy.

CURRICULUM OF COMMERCE

The term curriculum is derived from the Latin word "currere" which means path. In this sense curriculum is the path through which the student has to go forward in order to reach the goal envisaged by education.

The curriculum should be considered as a broad-based term encompassing every aspect concerning the study of the course. It is now considered on the totality of experiences to which a pupil is exposed within the boundaries of the school and outside.

Principles of Curriculum Construction

The Principle of Child-Centeredness
The Principle of Community-Centeredness
The Principle of Activity-Centeredness
The Principle of Integration
Forward-looking Principle
Conservative Principle
Renewal Principle
Creative Principle
Motivation Principle
Maturity Principle
The Principle of Preparation for life
The Principle of Elasticity and Flexibility
The Principle of Comprehensiveness

OBJECTIVES OF TEACHING COMMERCE AT THE CLASS 11th AND 12th

To develop in the students an interest in the theory and practice in business, trade, and industry
To acquaint students with the theoretical foundations and practices of organizing, managing, and handling routine operations of a business firm .
To inculcate attitudes and values leading to the integration of business with the social system with a positive approach
To enable the students to apply the principles and functions of management to specific aspects of the business.
To equip the students with essential fundamental knowledge for setting-up, organizing, and handling routine operations of a small-scale factory.
To equip the students with basic information on modern methods of office operations for effectively carrying out paperwork in a business office.
To generate and promote awareness of students in modern techniques of maintaining accounting records with the help of computers.
To enable the students to analyze financial statements and interpret the result for decision making.
To acquaint the students with practice and procedure of determination of cost from the point of its elements.
To create an awareness of the necessity of auditing the detection/rectification of errors/frauds in the process of accounting.

METHODS OF TEACHING COMMERCE

Lecture Method
Demonstration Method
Team Teaching Method
Problem Solving Method
Inductive and Deductive Method
Project Method
Discussion Method

Panel Discussion

Brain storming, heuristic method.

Surveys and Market Studies

LECTURE METHOD

In the field of any theory subject, it has great significance.
Nowadays in Colleges and higher education institutions most of the teachers are using the lecture methods.
A competent teacher can make the lecture meaningful and interesting by posing problematic situations and by using interesting and illustrative mediators.

DEMONSTRATION METHOD

The demonstration is a useful instructional method which is employed in teaching Commerce .
Demonstration means showing how something is to be done or not be done.
Through demonstration, a teacher presents a skill before the students.
The student’s role is that of the observer and recorder of information and skills.
In a higher secondary class, the commerce teacher can adopt this method related to the development of skill is being taught.

TEAM TEACHING METHOD

Team teaching is one of the most interesting and significant recent development in education.
It is an innovation in a school organization in which two or more teachers teach a group of students.
The group is benefited from the expertise of different teachers.

David Warwick, “A team teaching is a form of organization, in which individual teachers decide to pool resources, interest and expertise, in order to devise and implement scheme of work suitable to the needs of their pupils and the facilities of their school".

PROBLEM-SOLVING METHOD

Problem-solving is an instructional method or technique whereby the teacher and pupils attempt in a conscious, planned, and purposeful effort to arrive at some explanation or solution to some educationally significant difficulty.
It is a planned attack upon a difficulty or perplexity for the purpose of finding a solution.

According to Gates, "a problem exists for an individual when he has a definite goal, he cannot reach by the behavior pattern which he already has available."

Problem-solving is not merely a method of teaching. It is more a method of organization of subject matter in such a way that it can be dealt with through the study of problems.

INDUCTIVE AND DEDUCTIVE METHOD

INDUCTIVE METHOD:

The inductive method makes the students arrive at general conclusions or establish laws through observation of particular and concrete them.
Rules discovered are more likely to be grasped well than rules explained.
Therefore, the inductive method is more effective in learning.
This approach is mainly developmental.
It is easy to understand bookkeeping principles because the doubts about how and why of the formula are clarified in the very beginning.
It gives an opportunity for active participation for the students in the discovery of a formula.
This reduces the dependence on memorization.
It is the best method to introduce the new rule.
For example , the commerce teacher can teach the way of preparing a trial balance under this method. Instead of explaining the rules for trial balance the teacher can ask the students to prepare a ledger and find out the balances.

DEDUCTIVE METHOD:

The deductive method is the opposite of the inductive approach .
In this method - the learner proceeds from general to particular, abstract to the concrete, and formula to examples .
The pre-constructed formula or definition is told to the students and they are asked to solve or face the new situation with the help of that formula.
For example, the teacher can also teach the trail balance by way of this deductive method; instead of asking the students to prepare trial balance by way of an inductive method that is the first ledger then finding the nature of balance and the trail balance.
The teacher can first explain the rule for preparing a trial balance.
That is all the assets, expenditure and losses come under the debit side of the trial balances.
All the liabilities, profits, and receipts come under the credit side of the trial balance.
Then he can give a problem and ask them to prepare a trial balance.
Here the learner proceeds from the general rule to solve a particular problem.

PROJECT METHOD

This method is the direct outcome of John Dewey’s pragmatic philosophy . It is based on the idea that true knowledge is acquired not merely by reading books nor by attending lectures but by purposive planning and doing by the learners themselves for the purpose of handling problematic life situations.

‘Learning by doing’, ‘Learning by living’, ’Problem orientation’, and ‘working in natural settings’ are the four cardinal principles of this method.

Steps in the Project Method

Providing a situation
Choosing and purposing
Executing the project
Evaluating the project

DISCUSSION METHOD

A group discussion means an exchange of ideas accompanied by active learning, with all the members of the group participating in it. It is a free discussion regarding a topic by a group.

Mc Bumey and Hance have defined group discussion as, "the co-operative deliberation of problems by persons thinking and conversing together in face to face co-acting in group under the direction of the leader."

The seminar technique is usually practicable in higher education programs.
In this technique, a person presents a readymade paper or lecture on a specific subject before a group.
Nowadays audio-visual aids are also used while presenting the matter.
The paper presenter can either be an expert or one of the members of the group.
Sometimes, the copies of the paper being presented are distributed to the audience in advance.
After the presentation, there is a general discussion in which all participants can participate.
Here, the participants get an opportunity to clear their doubts.

Dressel defines the term seminar as, "the structured group discussion that may proceed or follow a formal lecture, often in the form of an essay or a paper presentation".

A symposium is a discussion by different speakers on the same topic emphasizing different aspects .
Selected speakers present prepared speeches.
Generally, the chairman and the speakers discuss the various aspects of a theme in advance and allot to each one a particular aspect so that each speaker limits his presentation to that aspect.
The term workshop has been borrowed from 'engineering'.
In a workshop, a person has to engage in some productive task to produce something tangible.
In an educational workshop also something tangible has to be produced by the participants.
The product maybe some equipment, instructional material, an action plan. etc.

According to R.A. Sharma. "Workshop is an assembled group of ten to twenty-five persons who share a common interest or problem. They meet together to improve their individual proficiency to solve a problem or to externalize knowledge and skill of a subject through intensive practical work and discussions."

Objectives of the workshop

To develop the psychomotor skill of the learner.
To make the subject matter interesting to the student.
To motivate the students for a particular topic.
To give training to teachers in specific areas.

The panel discussion is one of the socialized procedures. This is a procedure in which a small group of persons or pupils discuss the assigned problem creatively among themselves in front of an audience.

Brainstorming is basically an activity designed to promote creativity.
It is a form of discussion which enables the group to do collective creative thinking.
Brainstorming in the class situation invariably leads to the generation of new ideas and approaches to the study of the topics.
This technique is very useful for enhancing the contribution and involvement of students in the teaching-learning processes.
Under this method, pupils are led to discover the facts for themselves with the help of experiments, apparatus, or books.
The method emphasizes the process of the growth of mind by one’s own effort rather than pouring cooked material into empty vessels.
Simulation is the presenting of a problem or an event presented in artificially created situations similar to the real one.
The presentation is made as near as possible to the real situation or event.
A mini working model of an airplane being used in training pilots to learn and practice the working of an aircraft is an example of simulation
Role-playing is a teaching technique in which students assume an identity other than their own and play the role of others with whom the new identity has been assumed.
The role played may be that of a teacher, a parent, a salesman, a manager, a banker, and even inanimate things familiar in the course of interaction with the society.

SURVEYS AND MARKET STUDIES

In this method, information is obtained by asking questions to the selected respondents.
A commerce teacher can use the market survey as a method of teaching a complex concept or a process involving a variety of ideas.

EDUCATIONAL TECHNOLOGY IN LEARNING COMMERCE AND ACCOUNTANCY

Educational Technology is concerned with the systematic application of science and technology in the field of education.

Some of the educational technologies that are used in the learning of commerce are:

PROGRAMMED INSTRUCTION

The learning performed or instruction provided by a teaching machine or programmed textbook is referred to as programmed learning or instruction.

PERSONALISED SYSTEM OF INSTRUCTION (PSI)

The personalized system of instruction as the name suggests stands for a system of instruction totally personalized or individualized. Here the person or individual who receives instruction is a key figure. He dominates the entire scene of the teaching-learning process

COMPUTER ASSISTED INSTRUCTION (CAI)

An instructional technique based on the two-way interaction of a learner and computer with the objective of human learning and retention is known as Computer Assisted Instruction.
Here the computer actually assists the student in the learning process with the help of stored instructional programs designed to serve a variety of purposes such as informing, guiding, and testing the student until a prescribed level of proficiency is reached.

VIDEO CONFERENCING

In video conferencing, the resource persons at the teaching end may use mainly television cameras to show demonstrations, activities, discussions, etc. (television-based video conferencing) or may transmit the visuals generated through the computer

INTERACTIVE WHITEBOARD

An interactive whiteboard is an instructional tool that allows computer images to be displayed onto a board using a digital projector.

SMART CLASSROOM

Smart classrooms are the classrooms enhanced with technological equipment for the purpose of better learning and teaching .

WEB RESOURCES

Web-based education has become a cheaper and superior printed book of the modern era.

SOCIAL MEDIA

Social networking has become one of the most important communication tools among people nowadays.
The most famous in the world of social networks are Facebook (Facebook.com) and Twitter (Twitter.com) and others.
On the whole, one of the biggest assets of each social media tool lies in bringing together students of all ages to help them with all types of assignments, starting with the homework and finishing with different researches.

COMMERCE CLUB

Commerce club or association has started the leadership of the commerce teacher.
The commerce teacher should take all possible steps to run the club effectively by gaining adequate support from the administration students and the community.

COMMUNITY RESOURCES

The main aim of using the community resources is to give equal opportunity to all the students to take part in such activities and to enrich their interest and understanding of the contributions made by other streams to the teaching of commerce.

TYPES OF COMMUNITY RESOURCES:

Commerce Association or Forum
Exhibitions
Debates and competitions
Commerce Magazine
Social service
Vacation work

FIELD TRIPS

Educational visits to banks, insurance offices, factories, business houses, stock exchange markets, supermarkets, production centers, and exhibitions help students to explore their environment.
It helps the teacher to teach lessons with suitable practical examples.
Experiences gained by these visits are not easily forgotten.
Since it is a practical experience it provides an opportunity to acquire knowledge and understand the subject.
It links not only the classroom subject but also provides general education.
It provides useful contacts with the real world.

Excursions to industrial Centers:

It is very difficult to explain in details about the actual working of various industries in India.
Whatever explanations are given by the teachers are theoretical in nature.
Students may be taken to the place, where raw materials are kept.
They may be shown the various processes through which the raw material passes.
Ultimately, they should be shown the finished products.
In these processes’ students will actually observe the working of each section.
The working of each section should be explained by the person in charge of the section.

The important reason why students should be taken to the factories and other industrial concerns is that they may be able to see the factories and also see how goods are produced from raw materials.

Thus, excursions to industrial centers will benefit students and enrich their experiences about the working of the industries in India.

Excursion to Places of Geographical importance:

Excursions to places of Geographical importance should be arranged to explain to students the need and importance of locality and regions of the country.
Only by visiting the places of geographical importance, students can have permanent contrived real experiences.

VISIT TO INDUSTRIES

Visits to important industries and big business houses may be arranged at regular intervals.

The students of commerce are able to get real knowledge as to know how the business work, they may be lead to the different sections of the business and should actually watch how the papers of business transactions are actually prepared.

For example,

They may see how debit and credit notes are prepared,
How the invoice prepared,
How the bill of exchange is prepared and
How the accounting books maintained in that firm.

Author Remarks:

PEDAGOGY OF COMMERCE Is A Subject Taught In B.Ed And In Some Other Teaching Courses Also. On This Page, You Will Find Teaching of Commerce Short Examination Notes And Downloadable Free PDF Book In English Medium For B.Ed First Year And Second Year and Semester 1, 2, 3, 4, 5, and 6. Here We Have Covered Some of The Main Topics and Important MCQ Questions of Pedagogy of Business Studies and Accounting Which Will Really Help in Your Exam Preparation and Also You Can Make Your Assignment Report and File for BEd Very Easily with The Help of These Notes. These Notes and Free PDF Book on Teaching of Accounts and Business Studies Subject Will Be Helpful for All the Students and Teachers of Any College or University. We Have Also Suggested Some of the Best Reference Books and Study Material PDF for PEDAGOGY OF COMMERCE [Teaching of Commerce] That you can Also Go Through. Students and Teachers Preparing for All The Teaching Exams Like CTET, TET, UPTET, HTET Can Also Learn With The Notes Provided Above.

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What is 'Commerce'

Commerce has been around since the beginning of human civilization when people traded things and set up trade routes and businesses.
Commerce is now the word for when an organization buys and sells goods and services.
Commerce is a type of business that focuses on getting goods and services to people rather than making those goods and services.
A transaction is the buying or selling of a single item. On the other hand, Commerce is all of the buying and selling of that thing in an economy.
Commerce helps nations grow and raises people's living standards, but unrestricted or unregulated trade can have unintended effects.
In e-commerce, which is a type of trade, things are sold digitally over the Internet.

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What Is Partnership

Partnership: Characteristics, Partnership at will

What is partnership.

A partnership is a kind of business where a formal agreement between two or more people is made who agree to be the co-owners, distribute responsibilities for running an organization and share the income or losses that the business generates.

In India, all the aspects and functions of the partnership are administered under ‘The Indian Partnership Act 1932’. This specific law explains that partnership is an association between two or more individuals or parties who have accepted to share the profits generated from the business under the supervision of all the members or behalf of other members.

Also read: Importance of Partnership Agreement

Features of Partnership:

Following are the few features of a partnership:

Agreement between Partners : It is an association of two or more individuals, and a partnership arises from an agreement or a contract. The agreement (accord) becomes the basis of the association between the partners. Such an agreement is in the written form. An oral agreement is evenhandedly legitimate. In order to avoid controversies, it is always good, if the partners have a copy of the written agreement. 2. Two or More Persons: In order to manifest a partnership, there should be at least two (2) persons possessing a common goal. To put it in other words, the minimal number of partners in an enterprise can be two (2). However, there is a constraint on their maximum number of people. 3. Sharing of Profit: Another significant component of the partnership is, the accord between partners has to share gains and losses of a trading concern. However, the definition held in the Partnership Act elucidates – partnership as an association between people who have consented to share the gains of a business, the sharing of loss is implicit. Hence, sharing of gains and losses is vital. 4.Business Motive: It is important for a firm to carry some kind of business and should have a profit gaining motive. 5. Mutual Business: The partners are the owners as well as the agent of their firm. Any act performed by one partner can affect other partners and the firm. It can be concluded that this point acts as a test of partnership for all the partners.
6. Unlimited Liability: Every partner in a partnership has unlimited liability.

Types of Partnerships

A partnership is divided into different types depending on the state and where the business operates. Here are some general aspects of the three most common types of partnerships.

General Partnership

A general partnership comprises two or more owners to run a business. In this partnership, each partner represents the firm with equal right. All partners can participate in management activities, decision making, and have the right to control the business. Similarly, profits, debts, and liabilities are equally shared and divided equally.

In other words, the general partnership definition can be stated as those partnerships where rights and responsibilities are shared equally in terms of management and decision making. Each partner should take full responsibility for the debts and liability incurred by the other partner. If one partner is sued, all the other partners are considered accountable. The creditor or court will hold the partner’s personal assets. Therefore, most of the partners do not opt for this partnership.

Limited Partnership

In this partnership, includes both the general and limited partners. The general partner has unlimited liability, manages the business and the other limited partners. Limited partners have limited control over the business (limited to his investment). They are not associated with the everyday operations of the firm.

In most of the cases, the limited partners only invest and take a profit share. They do not have any interest in participating in management or decision making. This non-involvement means they do not have the right to compensate the partnership losses from their income tax return.

You might also want to know: Different modes of reconstitution of Partnership Firm

Limited Liability Partnership

In Limited Liability Partnership (LLP), all the partners have limited liability. Each partner is guarded against other partners legal and financial mistakes. A limited liability partnership is almost similar to a Limited Liability Company (LLC) but different from a limited partnership or a general partnership.

Partnership at Will

Partnership at Will can be defined as when there is no clause mentioned about the expiration of a partnership firm. Under section 7 of the Indian Partnership Act 1932, the two conditions that have to be fulfilled by a firm to become a Partnership at Will are:

The partnership agreement should have not any fixed expiration date.
No particular determination of the partnership should be mentioned.

Therefore, if the duration and determination are mentioned in the agreement, then it is not a partnership at will. Also, initially, if the firm had a fixed expiration date, but the operation of the firm continues beyond the mentioned date that it will be considered as a partnership at will.

Quick link: Advantages of Partnership

Indian Partnership Act 1932

Most of the businesses in India adopt a partnership business, so to monitor and govern such partnership The Indian Partnership Act was established on the 1st October 1932. Under this partnership act, an agreement is made between two or more persons who agrees to operate the business together and distribute the profits they gain from this business.

Students can also refer to Basic Concepts of Accounting for Partnership

Advantages of Partnership:

Easy Formation – An agreement can be made oral or printed as an agreement to enter as a partner and establish a firm.
Large Resources – Unlike sole proprietor where every contribution is made by one person, in partnership, partners of the firm can contribute more capital and other resources as required.
Flexibility – The partners can initiate any changes if they think it is required to meet the desired result or change circumstances.
Sharing Risk – All loss incurred by the firm is equally distributed amongst each partner.
Combination of different skills – The partnership firm has the advantage of knowledge, skill, experience and talents of different partners.

Partnership Examples:

Few co-branding partnership examples are listed below:

Red Bull and GoPro
Spotify and Uber
Levi’s & Pinterest
Maruti Suzuki
Hindustan Petroleum

Frequently Asked Questions on Partnership

What are the 3 types of partnership.

The three different types of partnership are:

General partnership
Limited partnership
Limited liability partnerships

What are 5 characteristics of a partnership?

The following are the five characteristics of a partnership:

Sharing of profits and losses
Mutual agency
Unlimited liability
Lawful business
Contractual relationship

What are 3 disadvantages of a partnership?

The following are the disadvantages of a partnership:

Risk of disagreement between partners
Instability of the partnership

What is the most important element of partnership?

The most important element in a partnership is the mutual agency, which states that every partner must be an agent and principal of himself and other partners. It says that business must be carried on by any or all of the partners.

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E-Commerce Assignment 1

Related Papers

Tony Jewels

This paper discusses and compares definitions of the terms business-to-consumer (B2C) and business-tobusiness (B2B) e-commerce to assist the e-business community to take better advantage of the potential of the ecommerce medium. The absence of consensual definitions in terminology may be preventing the e-business community from taking full advantage of the unique characteristics that the medium provides. A definition of B2C e-commerce is proposed. Finally, the paper notes the overlapping nature of B2B and B2C e-commerce.

Dr. Subhadeep Mukherjee

E-commerce stands for electronic commerce. E-commerce is performing business online and electronically. Over last few years the popularity of e-commerce has rigorously developed due to its quick and convenient way of exchanging goods and regional and global services. India will be booming platform for e-commerce business models; the country already reported 65% growth in e-commerce retail business year in 2015-2016. The paper is focused on the conceptual research with exploratory cum descriptive nature on the basis of secondary data. This paper explains the concept of e-commerce, business models for e-commerce, differences between traditional commerce and electronic commerce, merits and limitations of e-commerce. It also highlights various trends and challenges of e-commerce and also with the essential opportunity and growth factors required for e-commerce in India.

Asian Journal of Multidisciplinary Studies

Sumit Goklaney

Dr. Hasan Beyari

Social commerce (SC) is an extension of Business to Customer (B2C) e-commerce where consumers can interact with each other to conduct online shopping activities and discuss their experiences and preferences on products and services. Virtually all of the previous research on SC focus on behavioural and purchase intentions. Although these studies have reviled promising findings, questions remain concerning what factors affect consumers " satisfaction, which are yet to be answered. Therefore, this study aims to develop a theoretical framework using Trust and Social Influence theories to investigate the influencing factors on customer satisfaction in social commerce. Investigating the theoretical framework of this study would provide theoretical evidence and help businesses and individuals to better understanding the factors that affect consumer satisfaction in SC.

namit Chopra

The following articles talks about how e-commerce has emerged in developing countries like India and what is the impact of e-commerce in business organisations and on their profitability. E-commerce in short refers to the buying and selling of goods and services online. While it has several advantages for the organisations and customers it also has to face some challenges. In countries like India where the penetration of internet is continuously increasing e-commerce has the potential of becoming the new model of shopping in the country. Based on such conclusions the research question arises: to what extent are the business organisations being affected by the increasing reach of e-commerce? The required data for the research has been taken form journals, websites and other forms of secondary data. This data has been properly analyzed to reach to the results and conclusion of this research.

Swaleha Peeroo

Businesses across a wide array of industries have rushed to adopt social media as a marketing strategy. Social media have transformed the communication landscape since customers now have the possibility to create content on social media sites of businesses and share their lived experiences with the online community. Increasingly, grocery stores are using Facebook to communicate with customers. However, there is paucity of research on the use of social media in the grocery sector. This paper aims to determine whether and investigate how Facebook has empowered customers of Tesco and Walmart. Netnography approach was adopted to observe the social media phenomenon within the grocery sector. Contents posted on the Facebook page of Tesco and Walmart were collected to explore how Facebook has empowered grocery customers. Findings show that Facebook has given a voice to the customer. Customers of Tesco and Walmart have the power to gain information, the power to complain and to criticise, the power to create value and the power to provide information to the community. This paper contributes to knowledge by revealing how Facebook has empowered grocery customers. Future research could focus on customer empowerment in anti brand communities or other online sources where customers exchange information on brands.

Misiani Mwencha

E-commerce has changed the way of doing business across the world. In Kenya, the impact of e-commerce on social and economic structures has also been significant. In many spheres and sectors, e-commerce has now become an integral part of day-to-day activities and its relevance is expected to continue growing in the coming years as mobile internet continues to spread, a proposed national addressing system comes into existence, and people become more comfortable with digital transactions. While the rise of this medium has attracted increased attention in business as well as policy circles, not much sector-specific research has been carried out on the various economic processes that currently take place in this area, making business as well as policy decisions all the more difficult. To address this gap, this study sought to carry out in-depth research into the current state of the e-commerce sub-sector in the country, highlighting the progress so far made, the prevailing challenges and the remaining gaps. The study is intended to add to the existing knowledge base on e-commerce in Kenya and contribute to the growth of this nascent industry by providing e-commerce stakeholders with insights that will inform sound decision-making while serving as input for further research. This study was exploratory in nature and employed online desk research method to source for existing literature on the e-commerce sub-sector in Kenya. The data was sourced from an array of secondary data sources from the internet including market studies, published company reports, peer-reviewed journals, newspapers, magazines, and blog postings. This extensive literature review provided background knowledge on e-commerce and allowed the researcher to paint a general picture of the e-commerce sub-sector in the country. The data collection took a period of three months, followed by another 2 months of analysis, editing, design, and reporting. The report is divided into eight sections: The first section is the background. The second provides an introduction to electronic commerce, which looks at the origin, definition, typologies as well as the common forms of e-commerce businesses. The third section discusses the economic contribution of e-commerce. The fourth looks at the various drivers of electronic commerce growth in Kenya. The fifth section provides an overview of the electronic commerce sub-sector in Kenya. The sixth section examines the barriers to electronic commerce growth in Kenya. The seventh section conceptualizes the electronic commerce value-chain in Kenya. The eighth and final section of the paper gives a summary of important e-commerce facets and draws conclusions on five key areas: tends, infrastructure, value chains, markets and rules and regulations

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Assignment Operators in Programming

Binary Operators in Programming
Operator Associativity in Programming
C++ Assignment Operator Overloading
What are Operators in Programming?
Assignment Operators In C++
Bitwise AND operator in Programming
Increment and Decrement Operators in Programming
Types of Operators in Programming
Logical AND operator in Programming
Modulus Operator in Programming
Solidity - Assignment Operators
Augmented Assignment Operators in Python
Pre Increment and Post Increment Operator in Programming
Right Shift Operator (>>) in Programming
JavaScript Assignment Operators
Move Assignment Operator in C++ 11
Assignment Operators in Python
Assignment Operators in C
Subtraction Assignment( -=) Operator in Javascript

Assignment operators in programming are symbols used to assign values to variables. They offer shorthand notations for performing arithmetic operations and updating variable values in a single step. These operators are fundamental in most programming languages and help streamline code while improving readability.

Table of Content

What are Assignment Operators?

Types of Assignment Operators
Assignment Operators in C++
Assignment Operators in Java
Assignment Operators in C#
Assignment Operators in Javascript
Application of Assignment Operators

Assignment operators are used in programming to assign values to variables. We use an assignment operator to store and update data within a program. They enable programmers to store data in variables and manipulate that data. The most common assignment operator is the equals sign ( = ), which assigns the value on the right side of the operator to the variable on the left side.

Types of Assignment Operators:

Simple Assignment Operator ( = )
Addition Assignment Operator ( += )
Subtraction Assignment Operator ( -= )
Multiplication Assignment Operator ( *= )
Division Assignment Operator ( /= )
Modulus Assignment Operator ( %= )

Below is a table summarizing common assignment operators along with their symbols, description, and examples:

Assignment Operators in C:

Here are the implementation of Assignment Operator in C language:

Assignment Operators in C++:

Here are the implementation of Assignment Operator in C++ language:

Assignment Operators in Java:

Here are the implementation of Assignment Operator in java language:

Assignment Operators in Python:

Here are the implementation of Assignment Operator in python language:

Assignment Operators in C#:

Here are the implementation of Assignment Operator in C# language:

Assignment Operators in Javascript:

Here are the implementation of Assignment Operator in javascript language:

Application of Assignment Operators:

Variable Initialization : Setting initial values to variables during declaration.
Mathematical Operations : Combining arithmetic operations with assignment to update variable values.
Loop Control : Updating loop variables to control loop iterations.
Conditional Statements : Assigning different values based on conditions in conditional statements.
Function Return Values : Storing the return values of functions in variables.
Data Manipulation : Assigning values received from user input or retrieved from databases to variables.

Conclusion:

In conclusion, assignment operators in programming are essential tools for assigning values to variables and performing operations in a concise and efficient manner. They allow programmers to manipulate data and control the flow of their programs effectively. Understanding and using assignment operators correctly is fundamental to writing clear, efficient, and maintainable code in various programming languages.

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Should you give job applicants an assignment during the interview process? Be thoughtful about the ask

Employers have to ask themselves whether they are willing to turn off a strong candidate by asking them to do additional work.

Hiring is a time-consuming and expensive endeavor. Companies need candidates who offer the right skills and experience for a given role, and who align with their organization’s vision and mission.

To find the best fit, many companies still lean on a strategy that continues to generate debate : the assignment. Some candidates believe their experience and interviews should give prospective employers enough information to determine whether they will fit the role. Employers have to ask themselves whether they are willing to turn off a strong candidate by asking them to do additional work.

Is the assignment valuable enough to the evaluation process that they cannot move someone forward without it? Sometimes it is—sometimes they help an employer decide between two strong candidates. And if they are necessary, how can employers make assignments fair and equitable for the candidate or candidates?

When done right, assignments help assess practical skills and problem-solving abilities, giving a clearer picture of a candidate beyond what their resume or interview reveals. But employers should be thoughtful about the ask. While it may make sense for roles that require specific technical expertise or creative thinking, it isn’t appropriate for all roles—so assignments should always be given with a clear reason for why they are needed.

Plus, they don’t just benefit the employer. For job seekers, an assignment during the interview process might also help them stand out from the competition. It can also offer a window into what their day-to-day in the new role might entail. Remember that the candidate should be interviewing the company, too. Having a test run of the work they’d be asked to do is a great way to see whether they believe the role is a fit.

However, there is a rift in how people perceive the assignment as part of the interview process. Workers today span many generations, each with unique values and expectations. Whereas older workers often prioritize stability and loyalty, younger millennials and Gen Zers are more focused on flexibility and work well-being, Indeed data shows .

This mindset impacts the amount of time and energy a candidate is willing to devote to each application. After multiple rounds of interviews and prep, taking on an in-depth assignment may feel like a bridge too far—especially if the expectations for the assignment are not clearly communicated ahead of time.

Some candidates are wary of providing free labor to a company that may use their work and not hire them. Hiring managers should be clear about how the work will be used. They may also consider offering compensation if the assignment requires more than a couple hours of someone’s time, or if they plan to use the work without hiring the candidate.

The key for early career candidates in particular is to ensure their time and efforts are respected. This is a win-win for employers: By providing clarity and transparency, they not only elicit the additional information they want from candidates, but they demonstrate that the organization is transparent and fair.

Equity is also imperative: Which candidates are being asked to complete assignments? Is the hiring team consistent in giving out assignments across ages, experience levels, and roles? There should always be a process and clear evaluation criteria in place to ensure fairness.

As we adapt to the rapidly evolving world of work, we must continue to think critically about each step in the hiring process. Candidate assignments can be a valuable tool, but only with appropriate respect for job seekers’ time and contributions.

With the right strategy, we can bridge the gap between generations in the workplace and build a hiring culture that values efficiency, talent, and integrity.

Eoin Driver is the global vice president of talent at Indeed.

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Biden announces new tariffs on China. What does that mean to consumers? Tariffs explained

President Joe Biden is announcing a significant raise in tariffs on various Chinese goods, including steel and aluminum, batteries, and electric vehicles, USA TODAY is reporting .

So, what is a tariff? And what will a tariff increase mean to consumers? Here's what to know.

What is a tariff?

A tariff is a tax on imported goods, levied by the government, according to the International Trade Administration .

The goal of a tariff is to support local industry by raising the prices of imported goods, making them more expensive than their domestically produced alternatives, according to Investopedia .

Who pays the tariff?

Ultimately, the customer pays the tariff through higher prices.

Initially, tariffs on imports coming to the United States are collected by U.S. Customs and Border Protection on behalf of the U.S. Commerce Department , according to Investopedia. From there, the increased cost gets passed along to U.S. consumers.

Why are tariffs used?

Tariffs are often used to protect young industries and developing economies, according to Investopedia. However, they are also used in established economies with developed industries for a variety of reasons, including:

Protecting domestic employment. Competition from imports can hurt domestic companies, leading to layoffs or shipping work overseas to cut costs. All of which increases unemployment.
Protecting consumers. A tariff could be levied against imported meat, for example, if there are fears that meat has been contaminated.
Infant industries. This type of tariff is common in developing nations trying to foster growth in their domestic industries.
National Security. These barriers are common to protect industries that are strategically important, such as defense industries and those supporting national security.
Retaliation. Tariffs can be used as retaliation if countries believe a trading partner is not playing by the established rules.

Retaliation seems to be the reason for the new tariffs against China. The Biden administration is accusing China of flooding the markets with goods at artificially low prices, USA TODAY reports, putting U.S. manufacturing at a steep disadvantage.

What's on the list of new tariffs against China?

As reported by USA TODAY, Biden will announce the new tariffs in a speech on Tuesday. These include:

The tariff rate on electric vehicles imported from China will increase from 25% to 100% beginning this year.
The rate on semiconductors from China will increase from 25% to 50% by 2025.
The tariff rate for lithium-ion batteries from China used in electric vehicles will increase from 7.5% to 25% this year, while the same rate will apply to all other lithium-ion batteries in 2026. The tariff rate for battery parts will also increase to 25% this year, as well as critical minerals used to make batteries.
The tariff on solar cells imported from China will increase from 25% to 50% this year.
The tariff rate on steel and aluminum products will increase from 0%–7.5% to 25% this year.
The rate on ship-to-shore container cranes imported from China will increase from zero to 25% this year
The tariff rates on hospital syringes and needles made in China will increase from zero to 50% this year. Rates for personal protective equipment such as face masks, certain respirators and surgical gloves will also increase by 25%.

Cambridge Dictionary +Plus

Meaning of assignment in English

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It was a plum assignment - more of a vacation really.
He took this award-winning photograph while on assignment in the Middle East .
His two-year assignment to the Mexico office starts in September .
She first visited Norway on assignment for the winter Olympics ten years ago.
He fell in love with the area after being there on assignment for National Geographic in the 1950s.
act as something
all work and no play (makes Jack a dull boy) idiom
be at work idiom
be in work idiom
housekeeping
in the line of duty idiom
short-staffed
undertaking

You can also find related words, phrases, and synonyms in the topics:

assignment | Intermediate English

Assignment | business english, examples of assignment, collocations with assignment.

These are words often used in combination with assignment .

Click on a collocation to see more examples of it.

Translations of assignment

Get a quick, free translation!

Word of the Day

a computer program designed to have a conversation with a human being, usually over the internet

Searching out and tracking down: talking about finding or discovering things

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Can't understand the meaning of the sentence

Recently I started studying the different types of operators in scripting. I am currently learning about compound assignment. But then I found this sentence:

I can understand the first sentence but the second is so confusing. Is the expression a compound assignment? Can someone further explain this sentence to me, thanks.

It means the operation in a compound assignment occurs once

Here, math.random(#t) is only evaluated once even though if you were to write it out fully it would be:

Here math.random(#t) would be evaluated twice giving you unintended results

Oh, so compound assignments are used to shorten scripts, make them more readable and to not get unintended results?

They are used for convenience.

These two are exactly the same. The first one is just more convenient to write out.

Thanks for the help! Appreciate it…

College instructor put on blast for accusing students of using ChatGPT on final assignments

Texas A&M University–Commerce said it is investigating after a screenshot of an instructor's email — in which he accused students of having used artificial intelligence on their final assignments — went viral on Reddit.

Jared Mumm, an instructor in the agricultural sciences and natural resources department, reportedly told students that they would be receiving an “X” in the course after he used "Chat GTP" (referring to the AI chatbot actually known as ChatGPT ) to determine whether they’d used the software to write their final assignments. He said that he tested each paper twice and that the bot claimed to have written every single final assignment.

“I copy and paste your responses in [ChatGPT] and [it] will tell me if the program generated the content,” according to the email, a copy of which NBC News has reviewed. Rolling Stone first reported the story.

Attempts to reach Mumm by email, LinkedIn and phone were unsuccessful Wednesday. A university spokesperson confirmed Mumm sent the email.

The Rayburn Student Center at Texas A&M University-Commerce.

The screenshot was shared Monday in the subreddit r/ChatGPT, a community made up of 1.6 million users. Many blasted him, and others came to his defense, noting that AI is still a very new tool. The discussion reignited debate around the impact chatbots could have on education.

After its viral launch in December , ChatGPT was lauded online by some as a dramatic step forward for artificial intelligence and the potential future of web search. But with such praise also came concern about its potential use in academic settings . In January, the New York City Education Department announced a ban on ChatGPT from its schools’ devices and networks, citing the potential for increased student cheating.

A university spokesperson rebutted parts of the Reddit post , which claimed “Texas A&M commerce professor fails entire class of seniors blocking them from graduating- claiming they all use ‘Chat GTP’”

No students flunked or were prevented from graduating because of the issue, the spokesperson said.

"Dr. Jared Mumm, the class professor, is working individually with students regarding their last written assignments," the university said in its statement. "Some students received a temporary grade of ‘X’—which indicates ‘incomplete’—to allow the professor and students time to determine whether AI was used to write their assignments and, if so, at what level."

The spokesperson said that since the email was posted on Reddit, "several students have been exonerated and their grades have been issued, while one student has come forward admitting his use of Chat GTP in the course. Several other students have opted to complete a new writing assignment made available to them by Dr. Mumm."

The Reddit post was shared by a user named DearKick, who claimed to have obtained the email from their fiancé, a student in the class.

Hundreds of people responded in the comments.

A user suggested that there "be an AI introductory class that is mandatory for teachers and everyone else to understand the biases of AI and how it functions." Another took the criticism a step further and suggested the instructor should face disciplinary action from the university.

“I know several university lecturers that are actively embracing the reality of ChatGPT and other AI and are looking at how to increase the learning potential that can be gained while finding better ways of analysing students skills and capabilities,” wrote another user. “This all reminds me of the time we were told that calculators would never be allowed in classrooms and, god forbid, in exams, only to be proved wrong the following year.”

AI technology is already being used to help detect plagiarism. Many students have long used computer-assisted writing tools, such as Grammarly or Google Docs’ Smart Compose. Platforms like Grammarly and Chegg also offer plagiarism-checking tools.

In April, Turnitin, a plagiarism detection service, announced it will activate its AI writing detection capabilities to "help educators and academic institutions identify AI-generated text in student-written submissions."

The Texas A&M University–Commerce spokesperson said the school will work to "develop policies to address the use or misuse of AI technology in the classroom." Officials also plan to use AI detection tools.

"The use of AI in coursework is a rapidly changing issue that confronts all learning institutions," the spokesperson said.

Uwa Ede-Osifo is a news associate for NBC News.

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May 14, 2024

WASHINGTON – U.S. Trade Representative Katherine Tai today released the following statement concerning the statutory review of the tariff actions in the Section 301 investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation: “After thorough review of the statutory report on Section 301 tariffs, and having considered my advice, President Biden is directing me to take further action to encourage the elimination of the People’s Republic of China’s unfair technology transfer-related policies and practices that continue to burden U.S. commerce and harm American workers and businesses,” said Ambassador Katherine Tai. “As the President recognizes in his memorandum, while the tariffs have been effective in encouraging the PRC to take some steps to address the issues identified in the Section 301 investigation, further action is required. “In light of President Biden’s direction, I will be proposing modifications to the China tariffs under Section 301 to confront the PRC’s unfair policies and practices. From the beginning of the Biden-Harris Administration, I have been committed to using every lever of my office to promote American jobs and investments, and these recommendations are no different. Today, we serve our statutory goal to stop the PRC’s harmful technology transfer-related acts, policies, and practices, including its cyber intrusions and cyber theft. I take this charge seriously, and I will continue to work with my partners across sectors to ensure any action complements the Biden-Harris Administration’s efforts to expand opportunities for American workers and manufacturers.” The Section 301 statute directs that the four-year review includes a consideration of: the effectiveness of the tariff actions in achieving the objective of the investigation; other actions that could be taken; and the overall effects of the tariff actions on the U.S. economy. The Office of the U.S. Trade Representative’s (USTR) Report addresses the statutory elements of the review, suggests modifications to strengthen the actions, and makes certain recommendations. To encourage further elimination of the PRC’s technology transfer-related acts, policies, and practices, Ambassador Tai has recommended that products from the PRC currently subject to Section 301 tariffs should remain. Additionally, in light of the increased burden on U.S. commerce, President Biden is directing Ambassador Tai to take action to add or increase tariffs for certain products. As the Report details, Ambassador Tai will propose the following modifications in strategic sectors:

The Report also makes recommendations for: (1) establishing an exclusion process targeting machinery used in domestic manufacturing, including proposals for 19 exclusions for certain solar manufacturing equipment; (2) allocating additional funds to United States Customs and Border Protection for greater enforcement of Section 301 actions; (3) greater collaboration and cooperation between private companies and government authorities to combat state-sponsored technology theft; and (4) continuing to assess approaches to support diversification of supply chains to enhance our own supply chain resilience. President Biden is also directing Ambassador Tai to establish an exclusion process for machinery used in domestic manufacturing and to prioritize, in particular, exclusions for certain solar manufacturing equipment. Next week, USTR will issue a Federal Register notice announcing procedures for interested persons to comment on the proposed modifications and information concerning an exclusion process for machinery used in domestic manufacturing. Background In May 2022, USTR commenced the statutory four-year review process by notifying representatives of domestic industries that benefit from the tariff actions of the possible termination of those actions and of the opportunity for the representatives to request continuation. In September 2022, USTR announced that because requests for continuation were received, the tariff actions had not terminated and USTR would conduct a review of the tariff actions. USTR opened a docket on November 15, 2022, for interested persons to submit comments with respect to a number of considerations concerning the review. USTR received nearly 1,500 comments. As part of the statutory review process, throughout 2023 and early 2024, USTR and the Section 301 Committee (a staff-level body of the USTR-led, interagency Trade Policy Staff Committee) held numerous meetings with agency experts concerning the review and the comments received. Specifically, the Report concludes:

The Section 301 actions have been effective in encouraging the PRC to take steps toward eliminating some of its technology transfer-related acts, policies, and practices and have reduced some of the exposure of U.S. persons and businesses to these technology transfer-related acts, policies, and practices.
The PRC has not eliminated many of its technology transfer-related acts, policies, and practices, which continue to impose a burden or restriction on U.S. commerce. Instead of pursuing fundamental reform, the PRC has persisted, and in some cases become aggressive, including through cyber intrusions and cybertheft, in its attempts to acquire and absorb foreign technology, which further burden or restrict U.S. commerce.
Economic analyses generally find that tariffs (particularly PRC retaliation) have had small negative effects on U.S. aggregate economic welfare, positive impacts on U.S. production in the 10 sectors most directly affected by the tariffs, and minimal impacts on economy-wide prices and employment.
Negative effects on the United States are particularly associated with retaliatory tariffs that the PRC has applied to U.S. exports.
Critically, these analyses examine the tariff actions as isolated policy measures without reference to the policy landscape that may be reinforcing or undermining the effects of the tariffs.
Economic analyses, including the principal U.S. Government analysis published by the U.S. International Trade Commission, generally find that the Section 301 tariffs have contributed to reducing U.S. imports of goods from the PRC and increasing imports from alternate sources, including U.S. allies and partners, thereby potentially supporting U.S. supply chain diversification and resilience.

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Public Health Infrastructure Grant
Frequently Asked Questions
Health Department Profiles
CDC's Public Health Infrastructure Grant (PHIG) is a groundbreaking investment supporting critical public health infrastructure.
The goal is to support health departments across the United States.
One hundred and seven health departments and three national public health partners received funding through this 5-year grant (12/1/2022 - 11/30/2027)
The purpose is to implement activities that strengthen public health outcomes.
PHIG is a funding model that gives health departments the flexibility to direct funds towards specific organizational and community needs.

In January 2024, CDC awarded $4.35 billion through the Public Health Infrastructure Grant ( OE22-2203: Strengthening U.S. Public Health Infrastructure, Workforce, and Data Systems ) to help U.S. health departments promote and protect health in their communities.

The total award includes $4.01 billion for health departments and $340 million for three national public health partners.

CDC expects to award more than $5 billion over the 5-year grant period. This includes $4.01 billion for health departments and $340 million for three national public health partners.

The purpose is to create a stronger, more resilient public health system that is ready to face future health threats.

Recipient Health Department Profiles‎

Funding recipients.

Funding was awarded to:

One hundred seven (107) public health departments in all 50 states, Washington D.C., 8 territories/freely associated states, and 48 large localities (cities serving a population of 400,000 or more and counties serving a population of 2,000,000 or more based on the 2020 U.S. Census). Award amounts were based on a funding formula that included population size and community resilience. As of January 2024, a total of $4.01 billion for health departments [$3.685 billion in fiscal year (FY)23 and $325 million in FY24] has been awarded. Recipient-specific information is provided on the Health Department Profiles .
Three national partners that support the work of the 107 funded health departments. The Association of State and Territorial Health Officials (ASTHO) , National Network of Public Health Institutes (NNPHI) , and Public Health Accreditation Board (PHAB) received a total of $340 million ($155 million in FY23 and $185 million in FY24) . These organizations provide training and technical assistance, evaluate the program, and facilitate coordination and communication across recipients and CDC.

Strategies and outcomes

The three strategies of this grant are Workforce, Foundational Capabilities, and Data Modernization. Recipients are expected to achieve several key outcomes by the end of the 5-year performance period (see image below). Ultimately, this grant will lead to accelerated prevention, preparedness, and response to emerging health threats. Improved outcomes in other public health areas are also anticipated.

All work done as part of this grant is grounded in three key principles:

Data and evidence drive planning and implementation.
Partnerships play a critical role in grant program success.
Resources are directed to support diversity and health equity.

Grant Graphic Strategies Outcomes Table: Strategies: Short-term Outcomes, Long-term Outcomes

Recipient resources

Technical assistance ‎, phig project officer assignments‎, fiscal year 2023 funding‎, fiscal year 2024 funding‎.

CDC's Public Health Infrastructure Grant (PHIG) is a significant investment in America's public health system, directly supporting infrastructure (i.e., people, services, and systems) improvements within health departments.

For Everyone

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Biden announces new tariffs on China. What does that mean to consumers
The tariff rate on electric vehicles imported from China will increase from 25% to 100% beginning this year. The rate on semiconductors from China will increase from 25% to 50% by 2025. The tariff ...
ASSIGNMENT
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Texas college instructor put on blast for ChatGPT accusations against
College instructor put on blast for accusing students of using ChatGPT on final assignments. A spokesperson said Texas A&M University-Commerce is investigating, noting that none of the students in ...
U.S. Trade Representative Katherine Tai to Take Further Action on China
"After thorough review of the statutory report on Section 301 tariffs, and having considered my advice, President Biden is directing me to take further action to encourage the elimination of the People's Republic of China's unfair technology transfer-related policies and practices that continue to burden U.S. commerce and harm American ...
Public Health Infrastructure Grant
CDC's Public Health Infrastructure Grant (PHIG) is a groundbreaking investment supporting critical public health infrastructure. The goal is to support health departments across the United States. The purpose is to implement activities that strengthen public health outcomes. PHIG is a funding model that gives health departments the flexibility ...