Might as well start at what are we going to be working with so what is the current state of accounting?
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There are many financial and accounting reports that we can extract and need for any DAO organization.
But the most important and difficult part are the basic reports, such as the income statement, balance sheet, and cash flows.
This is the most difficult part because preparing it will require developing accounting policies and finding solutions to all the accounting challenges that exist in accounting for DAO organizations.
If we are able to develop opinions that we believe are optimal regarding accounting policies and solutions for all points in accounting for DAO organizations, we will be able to prepare basic reports and financial statements such as the income statement, balance sheet, and cash flow statement.
After that, any other reports will be easy to extract because the basic problems have been solved.
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The problems facing any accountant when developing a financial and accounting system for DAO organizations are that the concepts in the world of crypto, blockchain, and Web3 are ambiguous and sometimes incomprehensible because the field itself is new to the world. Everything only began in 2009 with the emergence of Bitcoin.
If the accountant can understand the concepts of decentralization in a deep way and analyze things properly, he will find everything has become easy, and preparing a financial and accounting system has become very easy because, from his understanding of the concepts in the world of web3 and decentralization, he will be able to extract the appropriate accounting policies.
The beginning is to understand and analyze these concepts.
Without this, any accountant finds himself spinning in a circle without being able to achieve what he wants.
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i’ve jumped into the discord asked in the DAO general chat to see if we can get the basics to get u started to u can start doing what u need/want to do =) thanks mixmore for taking sure a keen interest with it. (im going to try and make this as easy as possible i asked for the least 3 things you mentioned in ur first post)
which is income statement, balance sheet, and cash flows. if we can get you these 3 things then you can get started on writing up reports about it and changes ect… Fingers crossed once you have done a few, more people will want to get involved and you can show em the ropes.
alex said nathan is sorting everything out with bayar at the moment and hes going to get in contact with the information mixmore. So we just need to wait till they got it all sorted give it a week before i ask again =)
i think we got 500,000,000 radar current value @ £2,000,000+ ( [DCP-18] Strategic Treasury Diversification and Partnership Engagement ) roughly to work with. trying to get everything up and running and trying to gain sources of income and more users at the same time and a recycle eco system that is self sustaining.
Your gonna get the basic information of where we stand now, and you try to keep track of the 500,000,000 radar what is going to be going out to estimations on what we need back. anything that makes that 500,000,000 go up or down and write a report about it. I expect to start with it going down more than it goes up.
But we need to work on changing that fast which I’m hoping it with be the development of the dex now we got a idea of what we are working with.
We need to change that fast. a DAO owned Radar Dex would be a good start on changing that but ill write up another Workstream Discussion for that.
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