The EggInc's Team

in #business5 years ago

A team cannot function properly and as whole without one member out. EggInc needs a team. A team member that has big roles and responsibilities not only to EggInc specifically but he city, the world it belongs to.

Egg-quote of the day:

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So, I have here a book on Financial Basics by Schmidgall, Hanes and Ninemeier. Whenever I’m talking about Accounting 101, my main reference is this book. Let’s see how we can we make the most of this book cover to cover. Since we are in the verge to study everything from scratch, it will be most EGG-citing if we will study each and every team members together. There are two major “POSITION” categories that must be responsible for different important information that comes and goes inside of EggInc.

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BOOKKEEPER

Whom are involved in a process by which EggInc’s financial transactions are recorded and summarized. They are responsible to supply source documents (a record from which financial information is initially drawn and entered into an accounting system) like:

A. Internal Bookkeepers

  • Schedule of hours employees worked
  • Delivery invoices
  • Sales data from electronic registers

B. External Bookkeepers

  • Develop records regularly
  • Develop reports regularly
  • Financial Statements for the Manager

ACCOUNTANT

Involves in the duties that includes:

  • Designing and monitoring the data collection system
  • Summarizing information in Financial Statements
  • Developing management reports
  • Coordinating budget development
  • Collecting information required by tax authorities
  • Completing required external reports

While EggInc is still starting, the Manager (who is likely to be the Owner) develops some of the financial information needed for decision making. However, if generating financial data continues to increase its complexities, especially for tax accounting purposes, EggInc will likely need the services of an external accountant and other specialized professionals. And as EggInc increase in size, some of the responsibilities in operation suggests the following personnel:

CONTROLLER

It is also called as the Chief Accounting Officer (CAO). As EggInc continue to grow as an organization, the controller may be the one who is incharge in supervising employees.

FOOD AND BEVERAGE CONTROLLER:

The one responsible for developing wide variety of routine operating and control reports:

  • Product receiving, storing and issuing activities
  • After issuing products from purchasing staff down to production personnel (chef and bartender), the control process is also reviewed by the controller.

INTERNAL AUDITOR

EggInc Org may develop its own food chain, an internal auditor will evaluate the operating effectiveness of the accounting information system. Corporate-level personnel are often asked to audit records and systems of specific properties.

EXTERNAL ACCOUNTING POSITIONS

A CPA (Certified Public Accountant) performs service for a fee as an independent agent rather as an employee. He/She develops and monitors accounting systems and procedures used by EggInc. He/She shall check and oversee the statements are prepared in accordance with accepted accounting principles on a consistent basis with prior year.

As we continue to study the different line of positions needed by EggInc, we might need to also review the relationship and inter-relatedness of different positions for EFFICIENCY.

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