What is Self Assessment?

Self assessment is in use in the field of management and taxation. In management every manager assesses his performance on a periodical basis. With this assessment he reviews his effectiveness of performance in every area where he had responsibilities assigned. And also has to determine where and what type of improvements are needed. When we're paying our taxes then it's our responsibility to assess currently our financial situation and calculate the exact money what we have to pay to the government. After this has been done then it's time to report it to the revenue collection agency.