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Memo for Business Finance and Accounting

In: Business and Management

Submitted By Trickee2004
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As many of you heard that, the Chief Financial Officer (CFO) for XYZ Construction Inc. has been promoted to the newly created position of Vice President of Overseas Operation. The CFO’s absence leaves a void in the knowledge base of the owners group regarding several key financial and accounting principles. There will be all hands training meeting on May 25 @ 1100 local time, expected to last until 1300 and will be held at the Denver Embassy Suites conference room. The hotel will provide the video conference need for the offsite employees who will not be able to attend in person. This training meeting will provide the employees the necessary knowledge and understanding of these key financial and accounting principles. That is associated with the financial management, accounting internal control cash management and Sarbanes-Oxley Regulations.

During this training meeting agenda, the following financial and accounting principles will discuss:

• Balance of the Account
• Sarbanes-Oxley Act of 2002
• Cash Equivalents
• Petty Cash
• Voucher
Background
XYZ Construction Inc. performs horizontal construction work including roads, airfields, and bridges. The company’s headquarters is in Denver, Colorado and has 16 field offices located in 11 states. The workforce includes heavy and light equipment operators, civil engineers, and project managers along with an administrative staff in the headquarters facility with support staff in each of the 16 field offices. The company has 2,300-year round employees and will surge to an average of 4,500 employees during peak construction periods.

Evaluating

Companies use financial statements to record the past performance information on the financial activities periodically, the XYZ owners and managers will use the information on these forms to make financial decisions (Edition, Custom, 2010). The XYZ accountant will use…...

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