Financing Position
Financing has become a very important aspect of every college student’s life. More so, when being in charge of large amounts of currencies’ one needs to have some sort of an action plan or system ready. Have become familiarized with excel and other money management programs initiated at jobs requiring money handling I know of the mere importance of balancing. Below you will find my plan of action for the Vice President of Finance (Treasurer) position.
Plan of action
1. Time
a. Create an overall master plan that shall cover the whole semester and will display the estimated dates of future MACSUN events. This will allow us to map out the multiple periods, or/the estimated range of time used to prepare for MACSUN events; and will allow us too evenly and intelligently distribute our overall budget.
b. Timely deposit all checks to Wells Fargo bank account.
c. Keep track of all books by review them 2-4 times a week, as well as the day before an event, day of the event, and day after the event.
d. Timely report the status of accounts, at Board meetings, or through email if the information is urgent and there is no Board meeting that week
2. Journals
a. Event spending account should include condensed information on when the money was spent, when the expense was charged, the company’s name and or who purchased the items, what was bought and for what reason, and how much was spent.
b. Keep an accounting journal, both in paper and online using the GnuCash
Accounting is commonly described as the language of business. It is very important for all business owners to have very good understanding of their finances. Having the knowledge of your business finance, you will know where the money is going. Every business owner should have a good understanding of finance. To have a good understanding business owners needs to understand basic accounting steeps, how does accounting play a role in their business, how to define a financial statement and how the omission of any of these steps would affect the success of a business. Once you have an understanding of accounting/finance and the how it plays
Create a time management plan for your reading schedule to ensure you have ample time to read the book. Set due dates for each chapter and each part of the assignment. Review your schedule with a parent or guardian.
Question 3: Describe and show the journal entries illustrating how the company accounts for the transfer of its accounts receivable to financial institutions. Is this accounting treatment reasonable? What are the key assumptions made under this approach? Do you agree with these assumptions?
I had a difficult time deciding on the organizational structure of Accounting and Finance without understanding the full scope of this department but I decided on three additional positions set to include: another Receivable Clerk, another Payable Clerk, and a second Financial Analyst. The Analysts will split the tasks of forecasting, budgeting, trends, data analytics, cost analysis, and organizational data requests. The analysts will assist with
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The S.M.A.R.T. planning model is a guide everyone should follow when making financial goals one wants to achieve, whether they are short or long term. According to (Siegel & Yacht, 2009) “To be truly useful, goals must be Specific, Measurable, Attainable, Realistic, and Timely (S.M.A.R.T.).”
The books are piled in shelves, upon each other in seemingly endless towers, everywhere across the room. They are located in corners mostly, with the occasional on a desk or chair. They are old, faded, and worn, but loved as well. Each tells its own story, whether it is of heroic knights and far-away castles or daring accounts of long-ago events.
you study it. Skim through reviewing the title of each chapter, the introduction heading and
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3.1 What are the Main Financial statements you will need for this meeting P 4.1
In this paper I will be going over and discussing what international finance, exchange rates and also balance of payments. I will be talking about what they are, what they do, and how they affect us an economy and country. I will be discussing the basic definitions, and the basic concepts of their duties. First I will be going over international finance and the role it plays in our daily lives. Then I will discuss the price differences between items in the United States and Germany. I will add and compare them together. I will also go over what the concept balance of payments are.
The goal of this step is to learn to “plan with the end in mind.” Once you know what your semester project is going to be, you want to think through “what will it take to get there.” You need to have some type of “work product” that represents your project: this document outlines a plan to keep you on track to complete your project in a timely manner. We understand that your planning may shift and evolve as you work on the project – that is not unexpected and should provide a good learning experience. This document is simply your initial planning reflecting how you think you can get from start to finish.
The finance department is responsible for tracking all transactions of the business. It must balance cash flow to ensure there are enough funds available to meet the day to day payments. This is helped by efficiently controlling credit extended to customers, ensuring payments are received on time, and that the payment policy for the company’s suppliers is strictly adhered to. As well as short term financing they will also work closely with upper management to prepare the organization’s budgets and forecasts which provide information to assist managers when making important strategic plans, for instance which markets or projects to pursue return on investment timescale for large purchases. This
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