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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
What else can I help you with?
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office maintenance
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Identify and explain the key areas of accounts receivable management.
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What opportunities for advancement of a chartered accountant?
Chartered accountants have numerous opportunities for advancement, including roles in management, financial consulting, and corporate finance. They can progress to senior positions such as finance director, CFO, or partner in an accounting firm. Additionally, specialization in areas like taxation, audit, or forensic accounting can enhance career prospects and open doors to leadership roles. Continuous professional development and networking are also key to advancing in this field.
What is financial concepts?
Financial concepts refer to fundamental ideas and principles that underpin the field of finance, including the management of money, investments, and financial instruments. Key concepts include time value of money, risk and return, diversification, and asset allocation. Understanding these concepts is essential for making informed financial decisions, whether for personal finance, corporate finance, or investment strategies. They serve as the foundation for analyzing financial markets, valuing assets, and optimizing financial performance.
What are the Key Result Areas of supply chain department?
To satisfy the consumer needs.
What are the key result areas for secretaries?
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What is key result area of dispatch officer?
KRA for Dispach department
What are key result areas for sales manager?
Areas for grading your performance as a sales personnel.
What are the key result areas of Human Resources Management?
performance management
What would be the Key Result Areas for Administrative Assistant?
office maintenance
What are the funtional areas for Marks and Spencers?
The key functional areas in Marks and Spencer's are: Human resources Finance Distribution Purchasing Customer service Purchasing and sales
What are the key result areas?
monitoring all deliveries daily scheduling of deliveries and pullout
What are drucker's key result areas?
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What is the Key responsible area of an underwriter?
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What are the key Result Areas of the manager of a general hospital?
OR,ER, admession office , quality center
What is a key result?
Key Result areaIn this phrase key means a vital, crucial element. Key Result Area refers to general areas of outputs or outcomes for which the departments role is responsible.in simple terms may be defined as primary responsibility of an individual ,the core area which each person is accountable
