The CEO complained and argued that the GCT schedule correctly adjusted the revenue for the discount granted to customers. However, the system did not reflect same because the accountant had incorrectly posted the discount as an expense.
What were the issues facing the CEO of THIS COULD BE YOUR BUSINESS Limited?
The CEO and the accountant were not very conversant with accounting principles.
The accountant did not understand nor did he utilize the software program effectively. As a result he correctly reported the GCT sales using a manual application. However, he did not compare the sales total on a monthly basis to the system totals. The CEO was easy going, having recognized the discrepancy, failed to ask the accountant to correct same.
Questions and Answers that CEO’s should consider before receiving such an assessment.
Please utilize FAQs, questions and answers on the portal as under-noted.
What every CEO should know and observe?
What You should Know about Your accounting software ?
Culture: Is it necessary to have a vision statement for the business?
Culture: How does ones see or view corporate behavior?
How to establish the right vision for the organization?