Being a Budgeting Accountant- Getting Started

 

holistic

Earn It, Work for it  is the new mantra that we are having  for Monkey boy.  Since February we have stopped giving him allowance and put him to work as a Budgeting Accountant.  He has now to work for his own pocket money.

Monkey boy's work file

Monkey boy’s work file

Monkey boy was assigned a work file which holds all the documents which he would need to carry out his job.

He was given an abacus, a book keeping journal, exercise book and clip to keep all the receipts together with the work file.

Before I started him on work proper I drafted up an employment contract with him. This was done to emphasis that he has officially started work and we have a signed agreement between both parties on the terms and conditions of his employment.

Here is what I wrote in our employment contract.

Employment Agreement

We are pleased to offer you the position of Budgeting Accountant upon the following terms and conditions:

 

1 DATE OF COMMENCEMENT
1.1 Your employment will commence on 4 Feb 2013.
1.2 Your Probation Period will be 2 weeks from the date of commencement. The Company may extend probation period at its sole discretion.
2 SALARY
2.1 Your starting basic weekly salary will be S$ 10 /- per week.
2.2 Any bonus or declarations of bonus shall be made at the sole and absolute discretion of the Company. In determining the amount of bonus, the Company shall consider your work performance, amongst other factors.
2.3 Your performance will be reviewed periodically and the Company shall make adjustments to your salary as it sees fit.
2.4  You are to put 20% of your salary into a savings account which cannot be withdrawn to be spent on daily expenditure such as food or other non-essentials.
2.5 You are not allowed to use any part of your red pocket money, birthday money or tips which you may collect during CNY or any other festive celebrations as additional income while under employment.
3 DUTIES
Your duties as Budgeting Accountant are as follows:

  • Balancing the weekly grocery  budget, monthly household budget
  • Conducting Market Research  on how to reduce expenditure
  • Working out the cash flow forecast for the next month
  • Work out how to optimize the cash flow for the month
4 WORKING HOURS
4.1 The Company’s working hours are Monday to Friday in the afternoons. You will only start work after your have completed all school homework and other main duties have been completed.
4.2 You may be required to work beyond the normal working hours to discharge your duties at the sole discretion of the Company.
4.35

.5.1

 

The Company reserves the right, at its sole discretion, to revise, amend or extend the working hours should the need arise.PROVISIONS

 The Company will provide you with the necessary trainings before the commencement of the job.

All equipment/stationary will be provided by the company. Ie: Abacus, books and files.

6 CONFIDENTIALITY
6.1 You shall not disclose to any third party any confidential information obtained during your course of employment unless expressly authorised by the Company.
6.2 Confidential information for the purposes of this contract includes and is not limited to trade secrets, business plans, strategies, financial information and any other information that will affect the Company’s competitive position.
6.3 Your obligations to maintain confidentiality and secrecy shall apply after your employment until such time that the information is no longer confidential or has been made public by the Company.
6.4 You shall not without prior written consent of the Company destroy, make copies, duplicate or reproduce in any form the Company’s confidential information.

Yours faithfully
For and on behalf of 5R Villa

 

Dominique Goh
Chief Executive Officer

 

With the document signed by him and me it officially binds him to his job and a start to his experience as a salaried worker.

In the next post I will talk about how Monkey boy is faring in his job and what Doggie boy and I are currently doing.

Post in this series

1. Holistic Learning  an Introduction

2. Becoming a Budgeting Accountant- Getting Started.

3. Updates on Monkey boy being a Budgeting Accountant.

4. Holistic Learning with Doggie Boy

5. Holistic Learning- Dealing with Emotions

6. Holistic Learning- Understanding your Creative Pattern