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Aeon Lance
Caldari
Lance Heavy Industries
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Posted - 2008.07.26 08:19:00 -
[1]
Edited by: Aeon Lance on 26/07/2008 08:22:11
Edited by: Aeon Lance on 26/07/2008 08:21:48
Ok, I'm getting my new corporation setup and will possibly do a IPO in few months once we get settled in. Before we move forward, I want to ensure that the corporation has a sound accounting practice (reason: to prove where money goes where when IPO starts)
Wallets
 Master (Money with no purpose yet)
Marketing (For profit from products sold on market, incurs the fee of putting products on the market as well)
Manufacturing and mining (Obvious function, incurs manufacturing fee)
Trade (To be used when a profit can be found in trading, any profit made will be transferred to Investment wallet)
Research (Not used at the moment)
Library (Not used at the moment)
Investment (Profits from trade or marketing to be invested in new bpo or other corporations)
Other source of assets
Investments (Shares of other corporations)
Material Pool (To be used primarily in production, priced at market price at the time of acquirement)
Blueprint Pool (Priced at NPC market)
Manufacturing Practice
1. Take material from pool.
2. Put through manufacturing slot.
3. Output into marketing division, priced at (cost of material + cost of manufacturing) x profit percentage.
4. Put on market. If market condition is too low for product to be sold at acceptable price, search other region or wait until it becomes favorable.
5. Profit is directed to marketing wallet.
6. Profit from marketing wallet is eventually moved to Investment wallet.
Trade Practice
Pretty obvious as to what this is, ultimately, profit from trade is moved into investment wallet
Blueprint
Purchase of BPO is made from either master wallet or investment wallet. This is a grey area, BPO are purchased at NPC price, but how do I value it after performing Me or Pe research on it? Some people have said that the value of BPO is NPC Price + 2xResearch Cost.
Source of money
Marketing - Profit of products on the market.
Manufacturing and mining - Profit of selling minerals from mining from time to time.
Trade - Will stay at the same balance.
Investment - From profit of marketing and trade wallet.
Let me know if there are any holes in which money seems to disappear or appears out of nowhere, thanks!
Edit: Also, I consider that the net worth of the corporation is to total sum of all the wallets + material pool + blueprint library + investments in other corporations. No liabilities, don't plan on getting into debt
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kublai
Caldari
Art of War
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Posted - 2008.07.26 08:26:00 -
[2]
Aww aren't you precious, welcome to eve and soon Caod.
PS. If you mine your own minerals they're free!
A-War Recruiting |
teh punisher
Suddenly Ninjas
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Posted - 2008.07.26 08:29:00 -
[3]
 Originally by: Aeon Lance
No liabilities, don't plan on getting into debt
what about owner's equity? where does your starting capital come from? you must have some accountants straight from enron to get away with no liabilities. 
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Havohej
The Defias Brotherhood
CODE RED ALLIANCE
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Posted - 2008.07.26 08:34:00 -
[4]
tbh you guys are wrong to make fun of the OP. This is a pretty solid example of 'laying the ground work' for a future IPO scam imo.
Originally by: CCP Explorer
You can still steal their stuff.
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Aeon Lance
Caldari
Lance Heavy Industries
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Posted - 2008.07.26 16:02:00 -
[5]
Wow...someone post a question about getting a corp wallet sorted out and someone automatically assumes its a scam. What has eve become?
Originally by: kublai
PS. If you mine your own minerals they're free!
I didn't say I was keeping it, just selling it right away to earn little cash on the side
Originally by: teh punisher
Originally by: Aeon Lance
No liabilities, don't plan on getting into debt
what about owner's equity? where does your starting capital come from? you must have some accountants straight from enron to get away with no liabilities.
Good point about owner's equity, at this time I don't think I will include owner's equity since the entire corporation belongs to the owner, if anybody loans the corporation asset or money, it'll be taken into account. So, once the corporation goes public, the shareholder investment will be part of the liabilities.
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Ava Santiago
Minmatar
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Posted - 2008.07.26 21:03:00 -
[6]
umm... Corporations are separate legal entities from CEO's/Owners. Unless you record a "liability" to the owner, youhave no claim against the corp.
Concord doesn't provide consequences. Concord provides insurance payouts. |
Ariashley
Caldari
Blackstone Technologies Inc.
Lords of the Damned
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Posted - 2008.07.28 18:37:00 -
[7]
Edited by: Ariashley on 28/07/2008 18:38:36
The wallet/accounting functions within Eve are extremely simplistic and limited only to what is effectively a check register. It does not produce a proper balance sheet nor income statement. The wallet functions are, primarily, a way to limit a corp member's access to funds. They are not intended as any kind of accounting system. The permissions on corporate hangars do the same for corporate assets.
The fact that most corporations fail at understanding accounting is the reason why the share system appears to also be an utter failure. Without proper monitoring, most companies are either purposefully scamming or they just don't understand opportunity costs (i.e., travelling far away for better prices wastes time often) and are not nearly as profitable as they could be. You shouldn't manufacture anything that isn't clearly profitable to begin with. Waste of time and ISK. Return on Investment is what it's all about.
That said, I wouldn't count on a successful IPO as your primary source of ISK...
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Come Carebear in 0.0. It's funner here. |
Shamis Orzoz
Sniggerdly
Pandemic Legion
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Posted - 2008.07.28 18:51:00 -
[8]
Interesting idea, but it will be overly complex.
You're best bet is to just put spending money into the corp wallet and keep the rest in your personal wallet. That way you can have directors do a lot of work with limited risk of theft. Otherwise, you could lose it all in one day.
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