What are the Key result areas in finance department?

The main job KRA's 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