rajeshchopra01 Started The Discussion:
What are the main key result area’s and job responsibilities of accounts & finance department in a manufacturing industry. rajesh
The main job responsibility of Account and Finance dept are as follows: -
· Establishes systems controls for and procedures for financial and accounting systems to achieve corporate objectives.
· Directs installation and maintenance of accounting, timekeeping,payroll,inventory,property and related procedures and controls
· Designs, manages and monitors reporting systems to all departments and to aid management decision in achievement of stated objectives regarding revenue, profitability, and market share.
· Prepares statements and reports of estimated future costs and revenue.
· Directs the maintenance of ledgers, journals, accounts receivable, revenue depreciation, cost, property, operating expenses, insurance etc.
· Oversee bank work regarding documents, inward/outward remittances etc.
· Directs and participates in cost analysis and rate studies. This includes scrutiny of inventory of investory costs, charges from banks/agencies/service providers, cash vouchers, supplier bills, utility bills (Phone/electrical/mcd etc.) etc.
· Negotiates contract/service/loan/credit terms with outside financial agencies such as banks, financial/trade institutions, ECGC, insurance companies etc.
· Directs internal audits involving review of accounting and administrative controls. Coordinates preparation for external audits and external financial reporting.
· Direct the preparation and filing of returns for sales tax, Income tax, Excise and other forms of taxes and charges. Also directs and monitors issuance of forms to suppliers/employees such as H-form, st-49, C-form, Form-16 etc.
· Review any contracts before they are signed
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