Definition Of Auditing

The present era is the era of business explosion. The language of business is accounting. Day by day business is going to be complex and therefore accounting activities is becoming complex too. Auditing helps us to get the accuracy & reliability of accounting data.

Actually, Auditing is greatly required to establish reliability and determining the accuracy of  accounting related activities in the case of complexity of  accounting field of modern business.

Generally, a person reserves limited knowledge. If a business owner has no accounting knowledge or if a business organization becomes large in size...there is required to employ third party for keeping accounting books. Auditing has been grown  in order to justify and get accuracy of that accounting book maintaining by third party.

The word "Auditing" has been derived from the Latin word "Audire". The Latin word "Audire" means "To listen". For this, The word "Auditing" means "To listen".

In the ancient era, Business owner justified his accounting book recorded by his employees. He employed an experienced and non-partial person who listened accounting books records from the mouth of the accountant. The experienced person justified the accuracy of prepared accounting books by listening. Thus, The word "Auditing" come into light.

Some experts define auditing as...

A. W Hanson said that "An audit in an examination of such records of establish their reliability and the reliability of statements drawn from there."

Mautz stated as "Auditing is concerned with the verification of accounting data for determining the accuracy and reliability of accounting statements and reports."

R. R. Comber said that "Audit is an independent examination of the financial books & records of some, person or persons responsible or accountable to a third party with a view of verifying the accountancy of statement prepared by or for the accounting party."


So, auditing is the process by which an experienced & non partial person or party operates an examination of accounting books carefully prepared by the organization's employees in order to get the accuracy, reliability & flawless in accounting books. Auditor can be appointed internal or external. It depends on the decision of business owner or company board.

Marketing Management and its Evolution

Marketing is really a very important subject for business purposes. Actually, Marketing Management is a discipline that focused on the implementation of marketing techniques and management of firms marketing resources. 

"By the provision of satisfaction of the needs of the lack of consumers to achieve institutional purpose on Marketing Program Analysis, Plan formulation, Implementation, and marketing of controls are called Marketing Management. "

Marketing Management and its evolution:

1. Production Orientation Stage-(1860-19200
2. Sale Orientation Stage- (1920-1950)
3. Marketing Orientation Stage- (1950-1970)
4. Social Marketing Orientation Stage-(1970-1990)
5. Relationship Marketing Orientation Stage- (1990- ) 

Details Describing the below:

1. Production Orientation Stage: From 1860 to 1920 was called production orientation stage. In this stage, people understood that the more products you could exchange, the more profit you could make. By this formula, people were producing more products.
At the end of the eighteenth century, there were many changes in the production system as a result of the industrial revolution.
The new equipment was captured the man's manual labor space. As a result, the production was increased by a few hundred. 
Manufactured products supplied in different countries.

2. Sale Orientation Stage: From 1920 to 1950  was called sale orientation stage. Large production system was created at this stage by developing technology and increasing employees efficiency.
In this system, it produces a lot of products. At that time, the manufacturers realized that if only they depend on the customers, they will not buy products rather than manufacturers must force to sell products.
In this regards, they accepted aggressive sales strategy and started to advertise extensively.
Besides, they built an excellent relationship with Dilar and created a sales team. At that time, the radio was invented and this radio was helped to advertise their products.

3. Marketing  Orientation Stage: From 1950 to 1970 the Marketing Orientation Stage was started. The needs of shoppers goods were growing to buyers and they were becoming aware. At this stage, the marketers changed their marketing policy. At this point, the marketers are trying to understand the customers need and according to that, they invent these products.

4. Social Marketing Orientation Stage: Social Marketing Orientation started after 1970. This stage emphasized the welfare of social people with the rest of customers. Marketing Companies gave importance to produce the environment-friendly products.

5. Relationship Marketing Orientation Stage: Relationship Marketing is a process of making the relationship and continues with the customers or other relative parties. Relationship Marketing was started after 1990. Actually, this stage is involved with acquiring, saving and increasing of Customers.

Finally, It can be said that  Marketing Management has entered a relationship marketing stage by increasing the productive stage.