Strategy for bookkeeping

 

What is your strategy for bookkeeping? Assess your knowledge of bookkeeping and provide specific steps you will take to understand and control your company’s cashflow. Consider your education, technology, professional services, etc.
What is your expected net profit for the first year? Provide a pro forma (anticipated) income statement with your predicted revenues and expenses. Where did you get the numbers you used for this statement?
Discuss how cash flow determines your company’s ability to grow and mature.

Sample Solution

Bookkeeping is an essential component of any successful business as it allows for the accurate tracking of finances. To ensure I have a strong understanding and control of my company’s cash flow, I will take several steps starting with education and training. This includes familiarizing myself with basic principles such as double-entry accounting, debits and credits, financial statements, taxes and payroll (Merrill & Ringleman , 2018). Additionally, attending workshops or taking classes on bookkeeping related topics can help me stay up to date on best practices while also allowing me to ask questions specific to my own organization (Gross et al., 2017).

I also plan on leveraging technology whenever possible in order to streamline the bookkeeping process. By doing this I can reduce manual errors while simultaneously improving accuracy and efficiency when entering data into my system (Wright et al., 2019). Additionally, cloud-based software options available today allow for easy access from anywhere which makes it much easier to manage multiple accounts at once without having to be physically present in each location(Dechow & Dauber , 2019).

Finally , having a professional service provider who knows how to properly interpret financial information is essential for making good decisions regarding cash flow management (Weitzel & McDonald , 2016 ). Having someone like an accountant regularly review reports helps identify potential problems before they become larger issues as well as provide useful insights that may not be immediately apparent when looking at the data alone (Weitzel & McDonald 2016 )

Overall, having an effective strategy for managing bookkeeping processes is key for controlling one’s company’s cashflow. With proper education, technology use and professional assistance I believe I will have all the tools necessary not only now but going forward.

ombatants. Combatants are people who are involved directly or indirectly with the war and it is lawful to kill ‘to shelter the innocent from harm…punish evildoers (Begby et al (2006b), Page 290).However, as mentioned above civilian cannot be harmed, showing combatants as the only legitimate targets, another condition of jus in bello, as ‘we may not use the sword against those who have not harmed us (Begby et al (2006b), Page 314).’ In addition, Frowe suggested combatants must be identified as combatants, to avoid the presence of guerrilla warfare which can end up in a higher death count, for example, the Vietnam War. Moreover, he argued they must be part of the army, bear arms and apply to the rules of jus in bello. (Frowe (2011), Page 101-3). This suggests Frowe seeks a fair, just war between two participants avoiding non-combatant deaths, but wouldn’t this lead to higher death rate for combatants, as both sides have relatively equal chance to win since both use similar tactics? Nevertheless, arguably Frowe will argue that combatant can lawfully kill each other, showing this is just, which is also supported by Vittola, who states: ‘it is lawful to draw the sword and use it against malefactors (Begby et al (2006b), Page 309).’
In addition, Vittola expresses the extent of military tactics used, but never reaches a conclusion whether it’s lawful or not to proceed these actions, as he constantly found a middle ground, where it can be lawful to do such things but never always (Begby et al (2006b), Page 326-31). This is supported by Frowe, who measures the legitimate tactics according to proportionality and military necessity. It depends on the magnitude of how much damage done to one another, in order to judge the actions after a war. For example, one cannot simply nuke the terrorist groups throughout the middle-east, because it is not only proportional, it will damage the whole population, an unintended consequence. More importantly, the soldiers must have the right intention in what they are going to achieve, sacrificing the costs to their actions. For example: if soldiers want to execute all prisoners of war, they must do it for the right intention and for a just cause, proportional to the harm done to them. This is supported by Vittola: ‘not always lawful to execute all combatants…we must take account… scale of the injury inflicted by the enemy.’ This is further supported by Frowe approach, which is a lot more moral than Vittola’s view but implies the same agendas: ‘can’t be punished simply for figh

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