Memo for ABC Complete Kitchens Inc
Finance and Accounting Memo focusing on Managements Role and Responsibilities within
ABC Complete Kitchens, INC
SKS5000-8 Comprehension Strategic Knowledge Studies
February 9th, 2014
Professor Nick Harkiolakis
Memorandum
To: The Board of Directors of ABC Complete Kitchens, Inc.
From: Alexandra Kent
Date: February 9th, 2014
Subject: Managements responsibilities regarding finances and accounting
“Great organizations demand a high level of commitment by the people involved”- Bill Gates.
Introduction
Having the right man for the right job is imperative for corporate success. The person that installs the cabinetry for ABC Inc. is probably not the same person you want managing the financial responsibilities and obligations. Employees of ABC Complete Kitchens Inc. encompass a similar work ethic, professionalism and accountability however; their skills vary and need to be accommodated suitably within the company. Maintaining this level of expectation is imperative to achieve organizational success. Maturity, health, financial stability and the ability to compensate accordingly to current and long term fiscal challenges is the responsibility of the financial manager and within this organization or for ABC Inc. the Chief Financial Officer (CFO).
The CFO assesses, directs, monitors, controls, develops strategies, plans for current and long term financial goals and most importantly determines the organizations investment decisions. The CFO and/or financial manager must “weigh the costs and benefits of all investments and projects and decide which of them qualify as good uses of the money” (Northcentral University, 2011. 7; 709). This is money invested by others as well as yourselves within this company. There are three main tasks financial managers are responsible for beyond applying management standards to financial capital or income of this conglomerate. These consist of; making (preferably good) investment
ABC Complete Kitchens, INC
SKS5000-8 Comprehension Strategic Knowledge Studies
February 9th, 2014
Professor Nick Harkiolakis
Memorandum
To: The Board of Directors of ABC Complete Kitchens, Inc.
From: Alexandra Kent
Date: February 9th, 2014
Subject: Managements responsibilities regarding finances and accounting
“Great organizations demand a high level of commitment by the people involved”- Bill Gates.
Introduction
Having the right man for the right job is imperative for corporate success. The person that installs the cabinetry for ABC Inc. is probably not the same person you want managing the financial responsibilities and obligations. Employees of ABC Complete Kitchens Inc. encompass a similar work ethic, professionalism and accountability however; their skills vary and need to be accommodated suitably within the company. Maintaining this level of expectation is imperative to achieve organizational success. Maturity, health, financial stability and the ability to compensate accordingly to current and long term fiscal challenges is the responsibility of the financial manager and within this organization or for ABC Inc. the Chief Financial Officer (CFO).
The CFO assesses, directs, monitors, controls, develops strategies, plans for current and long term financial goals and most importantly determines the organizations investment decisions. The CFO and/or financial manager must “weigh the costs and benefits of all investments and projects and decide which of them qualify as good uses of the money” (Northcentral University, 2011. 7; 709). This is money invested by others as well as yourselves within this company. There are three main tasks financial managers are responsible for beyond applying management standards to financial capital or income of this conglomerate. These consist of; making (preferably good) investment
References: Averkamp, H. (2013). What is owners equity? Accounting Coach, LLC. Fort Atkinson, WI Retrieved from: http://www.accountingcoach.com/privacy-policy (2011). SKS 5000- Business strategies for organizational effectiveness within the global perspective (2013). List of key accounting terms and definitions. InvestorGuide Staff. Retrieved from: http://www.investorguide.com/article/13789/list-of-key-accounting-