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 The Finance Department (FD) work closely with the

management act as professional advice and control


service for the financial activities of the Company.
 Departmental Meetings are held regularly, in which
work related matters are discussed. Additionally the
detail work in progress of each section in monitored
through meetings between the Senior Staff and the
Juniors for which they are responsible.
 The FD help the other departments to meet their
service objectives by acquiring services and goods,
allocating the company’s financial resources,
processing financial transactions, and providing
information and analysis as a basis for decision
making.
 The Finance Department is committed to providing
the highest levels of financial services to the
Company.
 This includes insuring that proper controls and
procedures are in place to manage properly.
 We constantly evaluate and balance the types and
levels of services provided
 Efficiencies are developed through staff training
opportunities, teamwork and by providing employees
with a challenging and fulfilling work environment.
 The broad objectives of the Finance Department are
to provide a timely, efficient and cost effective
service :
 Continuing to improve the level of operational
efficiency of the Finance Department.
 Maintaining effective working relationships with the
rest of the Company.
 Continuing to improve the quality of financial
information supplied to departments.
 Meeting the Reporting deadlines set by GAC
 Ensuring wide compliance with the Financial
Regulations.
• There are 10 members of staff in the department (including
CFO) working as a Team with the following Key Areas of
responsibility.
Chief Financial Officer

Credit Control &


Asst. Cost Financial Sr.
Recovery
Officer Accountant Accountant Accountant

Asst. Credit Trainee Assistant


Officer Accountant

Bank & Out- Cashier I


Assistant door Clerk Cashier II
Accounts Officer
Treasury Services Charges
 Cash Collection, Control of Borrowing
Requirements; Collection of Services Charges and
Other Debts to Clients Payments
 Creditors Payments, Supplier, Management of
Creditors Ledgers.
TREASURY Control
Responsible for all Treasury operations. General
responsibilities include Investments, Utility Billings,
Collections, Debt Correspondence.
 Control disbursement and reconciliation of all checks or
withdrawals from treasury accounts. Provide Banking
Services such as Checks, Endorsement stamps, Deposit
tickets and placing stop payments.
Cash Control
 Collect, Record and Deposit funds for all Treasury
transactions and ensure that the Deposits are made
timely and accurately.
Account Receivable
 Maintains Accurate Account and Billing Records for
Other Accounts Receivable.
Purchasing Services
 Maintain and ensure compliance with purchasing
policies and procedures.
 Handle purchasing inquiries from Departments.
 Process purchasing requisition, Vendor Records and
Contract Documents. Assist staff in reducing cost of
doing business by using more efficient procurement
methods.
Flow Chart of Payable Bills & Payment Processing
Bills Received from Received Date &
Suppliers Finance Stamp
Journal Update in
Dolphin System

Bills Entered into


Dolphin System
After Directors’
Signing Cheques
Dispatch to Vendors

Cheques send to Dispatch to their


Directors for Signing Respective
Departments

Bank Payment
Voucher Prepared & Cheques Print, CFO H.O.D. Verify
Entered in Dolphin & & GM approved all their respective
Tax System payments bills & Return to
Finance Dept

Account Payable Financial approval After HOD


Voucher dispatch for by CFO, bills verification GM
Payment Process update in Dolphin approved bills
System
Financial Accounting/Control
 Monthly Management Reports, Budget Settings and
Monitoring, Financial Planning, Capital Project
Reporting.

Pay Roll
 Payroll Production, Income Tax Returns.
 Monitoring of Changes in Human Resources (Hires
and Terminations).
 Filing all reporting requirements with various
Government agencies; like SESSI, EOBI, Excise and
Taxation, and provide assistance with Pay Change
Calculations.
Systems Development
 Maintenance and development of financial systems
and procedures; Management of Payments section.

Insurance
 Monitoring of Existing Policies and Insurance Claims