Checkpoint_a_New_Company

Since I have been given the role of overseeing the accounting department, I feel that in order to fulfill this new assignment, I need to verify the company’s balance sheet, accounts receivables and accounts payable reports. To overview the accounting department correctly I would want to review all the reports which describe the credits and debits the company has processed and to ensure that all of them correspond to the balance sheet. Reports that represent the past and present numbers of the financial analysis should also be reviewed. Financial goal should also be reviewed. By reviewing the above mentioned reports and information, I can determine how the company is distributing the funds received from different parts of the operations. Another way the reports mentioned above can be valuable if reviewed by me in this new role, is by ensure that the accounting department is incorporating the six principals of internal control into the daily operations of the department. To ensure that the department is smoothly run, I may want to incorporate different business practices that may differ from the routine day to day work this may increase profitability with the accounting department, and therefore, the company itself. In reviewing the reports I will be able to analyze and advise the company of business decision they will decide to take in the future. I will also be able to assist the employees in eliminating the errors that may occur, this way; I will be able to create effective and reliable reports. In order to ensure this is done correctly, I will create appropriate training for my new staff, coaching them to optimize their performance. I believe that in reviewing these reports, I will be able to advise the company’s executives in different aspects of their daily business decisions.