Roles and Responsibilities of the Accounting Department by Vinayaraj Mothiravally https://padlet.com/vinayarajm/dfbhm810 Class Activity en-us 2017-11-16 05:56:20 UTC 2024-10-26 09:21:54 UTC hello@padlet.com Hi guys, Please post your class work below vinayarajm https://padlet.com/vinayarajm/dfbhm810/wish/207528713 Group 1: Account Payable Clerk/ Manager
Group 2: Account Receivables Clerk/ Manager
Group 3: Accountant
Group 4: Bookkeeper
Group 5: Chief Financial Officer
Group 6: Payroll Clerk/ Manager
Group 7: Financial Analysts]]> 2017-11-16 06:00:30 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207528713 Group 5: Roles and Responsibilities of Chief Financial Officer https://padlet.com/vinayarajm/dfbhm810/wish/207529203 ROLES
1. Reporting the numbers, managing the financial function, and being reactive to 
events as they unfold 
2. Able to apply critical thinking skills, along with financial acumen, to the long term goals of the organization 
3. Take ownership of the financial results of both the organization and senior management team
4. Team leader for getting the highest results out of their team
5. Bring together a diverse group of talented individuals to achieve superior financial performance.
6.Developing a compensation plan for employees

RESPONSIBILITIES
1. Present financial condition for the company
2.  Invest the company's money, taking into consideration risk and liquidity. 
3. Oversees the capital structure of the company, determining the best mix of debt, equity, and internal financing
4. Identify and report what areas of a company are most efficient and how the company can capitalize on this information
5. Control the cash flow position throughout the company, understand the sources and uses of case, maintain the integrity of funds, securities and other valuable documents.
6. Establish accounting policies and procedures for credit and collections, purchasing, payment of bills, and other financial obligations
7. Understand all of the company’s liabilities
8. Know the company business model for generating customer value and translate the operational metrics into measures for performance]]> 2017-11-16 06:05:24 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207529203 Group 2: Roles and responsibilities of Receivables clerk/ Manager https://padlet.com/vinayarajm/dfbhm810/wish/207529408 Clerk
1. Posts customer payments by recording cash, checks, and credit card transactions.
2. Posts revenues by verifying and entering transactions form lock box and local deposits.
3. Updates receivables by totalling unpaid invoices.]]> 2017-11-16 06:07:35 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207529408 Group 1: Role and Responsibilities of Account Payables https://padlet.com/vinayarajm/dfbhm810/wish/207529505 Clerk
ROLE:
Processing accounts and incoming payments in compliance with financial policies and procedures
Performing day to day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables data
Preparing bills, invoices and bank deposits.

EXAMPLE: IN BANK THE CASHIER WHO GET MONEY FROM US IS PERFORMING THE CLERK ACTIVITY.HE OR SHE IS RESPONSIBLE FOR ACCOUNT AND THAT SHOULD BE PROPERLY FEED INTO THE APPROPRIATE SOFTWARE SO THAT IT IS EASY TO GET BACK THE DATA CORRECTLY.

RESPONSIBILITY

Process accounts and incoming payments
Perform day to day financial transaction 

    1. verifying
    2. computing
    3. posting
    4. accounts receivables data
    5. Prepare bills
    6. invoices
    7.  bank deposits
    8. Verify and resolve clients’ billing issues
    9. Verifying and sending bill reminders 
    10. Generate financial statements and reports

]]> 2017-11-16 06:08:30 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207529505 Group 6: Roles and Responsibilities of Payroll Clerk/ Manager https://padlet.com/vinayarajm/dfbhm810/wish/207529582 Clerk
1. Collecting, caculating and entering data.
2. Entering changes in exemption, insurance, saving deductions and job title and department/division transfers.
3.Prepares reports by compilling summeries of earnings, taxes.
4. check e-mail 
Manager
1.designing systems, directing collection, calculation and entering of data
2. reviewing and approving changes in exemption, insurance, saving deductions and job title and department/division transfers. 
3. directing the production isurance.
4. balances the payroll accounts 
5. maintains payroll staff job result]]> 2017-11-16 06:09:17 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207529582 Group 3: Roles and Responsibilities of Accountant vinayarajm https://padlet.com/vinayarajm/dfbhm810/wish/207529808 1. ]]> 2017-11-16 06:11:10 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207529808 Group 4: Role and Responsibilities of Bookkeeper vinayarajm https://padlet.com/vinayarajm/dfbhm810/wish/207530079 2017-11-16 06:13:55 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207530079 Group 7: Roles and Responsibilities of Financial Analyst vinayarajm https://padlet.com/vinayarajm/dfbhm810/wish/207530152 2017-11-16 06:14:44 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207530152 Group 7 : Financial Analyst https://padlet.com/vinayarajm/dfbhm810/wish/207530767 Role:  collecting, monitoring and creating financial models for decision support.
+ the company will sell and buy all the stock on the analyst's recommendation. 
+ Analysis and tactical evaluation of the market environment .
+ studying public record and filings by the company.
+study the entire industry
Responsibility 
Must have strong analytical skills including  bulding models, prior data mining and online market research
+ Self starter with the ability to streamline functions and passion to learn and grow
+strong financial analysis foundation creating forecasts and models
+ identify financial status by comparing and analysing actual results with plans and forecasts
+Guide cost analysis process
+increase productivity by developing automated reporting tools]]> 2017-11-16 06:19:51 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207530767 Group 4 - The Duties (Role) & Responsibilities of Bookkeepers https://padlet.com/vinayarajm/dfbhm810/wish/207531970 Hi Sir, 

 🔹A bookkeeper's central role is to maintain financial records for a company or organization.

 🔹 You must have detail-oriented skills that allow you to keep up with company expenditures, income, payroll and tax requirements.

🔹Familiarity with accounting software is beneficial because most companies use these programs to report transactions, issue payments and balance accounts. 

🔹 Maintains subsidiary accounts by verifying, allocating, and posting transactions.

🔹 Maintains historical records by filing documents.

🔹Prepares financial reports by collecting, analyzing, and summarizing account information and trends.

🔹Complies with federal, state, and local legal requirements by studying requirements; enforcing adherence to requirements; filing reports; advising management on needed actions.



]]> 2017-11-16 06:28:34 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207531970 Group 3: Role and Responsibilities of anaccountant. https://padlet.com/vinayarajm/dfbhm810/wish/207534047
1. Prepare profit and loss statements on behalf of a business.
2. Set up accounting practices and procedures for new companies and advise on how to manage these.
3. Analyse budgets and other financial information and advise where savings could be made.
4. Help to produce budgets for businesses and implement strategies for cost savings.
5. Ensure company accounts and tax returns are prepared and filed correctly and on time.
6. Money out – making payments and keeping the bills paid
7. Money in – processing incoming payments
Payroll – make sure everyone gets paid (including the government)
8. Reporting – preparing financial reports, e.g. P&L, Balance sheets and budgets
Financial Controls – to avoid errors, fraud and theft.]]> 2017-11-16 06:44:32 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207534047 https://padlet.com/vinayarajm/dfbhm810/wish/207535391 Gro]]> 2017-11-16 06:53:46 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207535391 Role and responsiblites of accountant https://padlet.com/vinayarajm/dfbhm810/wish/207535394 Group3
1) Prepare, examine, and analyze accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.

2) Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting and other tax requirements.]]> 2017-11-16 06:53:48 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207535394 https://padlet.com/vinayarajm/dfbhm810/wish/207535708 3) Analyze business operations, trends, costs, revenues, financial commitments, and obligations, to project future revenues and expenses or to provide advice.

4) Report to management regarding the finances of establishment.

5) Establish tables of accounts, and assign entries to proper accounts.


 

6) Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.

7) Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.

8) Prepare forms and manuals for accounting and bookkeeping personnel, and direct their work activities.



9) Survey operations to ascertain accounting needs and to recommend, develop, and maintain solutions to business and financial problems.

10) Work as Internal Revenue Service agents.

11) Advise management about issues such as resource utilization, tax strategies, and the assumptions underlying budget forecasts.

]]> 2017-11-16 06:56:16 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207535708 vinayarajm https://padlet.com/vinayarajm/dfbhm810/wish/207539374 2017-11-16 07:18:48 UTC https://padlet.com/vinayarajm/dfbhm810/wish/207539374