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    Finance

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    Yousuf Ysf
    The finance and accounting department handles various financial functions including bookkeeping, budgeting, billing, costing, internal auditing, and payroll. Key responsibilities include preparing trial balances and financial statements, coordinating with external auditors, processing supplier payments, setting product costs, administering employee compensation and benefits, and conducting internal audits of financial records and statements. The department works closely with other departments to manage cash flow, process foreign payments, and ensure accurate financial reporting.

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    Finance

    Uploaded by

    Yousuf Ysf
    9 views2 pages
    The finance and accounting department handles various financial functions including bookkeeping, budgeting, billing, costing, internal auditing, and payroll. Key responsibilities include preparing trial balances and financial statements, coordinating with external auditors, processing supplier payments, setting product costs, administering employee compensation and benefits, and conducting internal audits of financial records and statements. The department works closely with other departments to manage cash flow, process foreign payments, and ensure accurate financial reporting.

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    The finance and accounting department handles various financial functions including bookkeeping, budgeting, billing, costing, internal auditing, and payroll. Key responsibilities include preparing trial balances and financial statements, coordinating with external auditors, processing supplier payments, setting product costs, administering employee compensation and benefits, and conducting internal audits of financial records and statements. The department works closely with other departments to manage cash flow, process foreign payments, and ensure accurate financial reporting.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    9 views2 pages

    Finance

    Uploaded by

    Yousuf Ysf
    The finance and accounting department handles various financial functions including bookkeeping, budgeting, billing, costing, internal auditing, and payroll. Key responsibilities include preparing trial balances and financial statements, coordinating with external auditors, processing supplier payments, setting product costs, administering employee compensation and benefits, and conducting internal audits of financial records and statements. The department works closely with other departments to manage cash flow, process foreign payments, and ensure accurate financial reporting.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
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    FINANCE & ACCOUNTING DEPARTMENT

    Various Sections in Finance Department. Book and Budget Sales & bills payable Costing & establishments Internal audit & price store ledger Book and Budget Collection of accounts from different sections Preparation of trial balance and final accounts Co-ordination with auditors Helping statutory auditor Bills Payable This section handles the payment to be made to the suppliers. This includes the receiving of stores receipt vouchers, purchase order and their verification in terms of quality and quantity. Once the claims are found satisfactory, the payment is made as per the terms. Costing Sets the cost that is used by commercial group to add profit margin to set the price. Establishment This section handles all the payment to the employees such as Salary & provident fund Incentives Loans and advances Medical reimbursement

    Internal audit:
    After preparing the balance sheet, the internal auditors will audit & they send audited balance sheets to the government auditors to audit the balance sheet. Other functions of Finance Department are, Payment of wages and salaries Payment to suppliers Foreign purchase payments. Cash management.

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