As the manager is new and not well versed with the operations of the restaurant, initially the frequency of meetings should be high so that the manager gets acquainted with the business model of the restaurant while Vincenzo can also determine the suitability of the manager and gain insights into his decision making and problem solving skills along with the ability to identify opportunities and tap them for the benefit of the restaurant as a whole. With the passage of time, the frequency might be reduced and meetings may be conducted on a periodic basis as both the parties develop confidence in each other.
In a nutshell, it can be concluded that accounting techniques provide the infrastructure or the backbone on which decisions pertaining to the company are made. They serve as a benchmark that helps in strategy formulation as well as strategy evaluation process (Chapman, 2005). Thus it is of utmost importance for all companies to maintain accounting records. However, they must be an accurate and fair representation of the businesses’ activities and must be audited to ensure that there is no manipulation and window dressing in the same.