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Professional football teams have both a coach and a general manager. The general manager is usually responsible for the general operations of the organization and maintains the decision rights for selecting personnel on the football team. The coach is responsible for the training of the football team and making decisions on game day. Many coaches have been unhappy with their relationship with the general manager and feel they should have more decision rights in choosing the players on the team. Some of the top coaches are now insisting on also being general managers.
What are the advantages and disadvantages of separating the duties of the coach and general manager with respect to selecting members of the football team?
Revenue Account
A record that monitors the revenue a firm produces through its regular business activities.
Trial Balance
A financial report that lists all the accounts with their balances at a specific date, used to verify the equality of debits and credits in the bookkeeping system.
Ledger Accounts
Individual records that summarize all the financial transactions regarding a specific aspect of a business's financial activity, such as sales, accounts payable, or owner's equity.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal, serving as a preliminary step to financial statement preparation.
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