SlideShare a Scribd company logo
Describe the accounting and finance structure in an organization.
Solution
The accounting and finance departments structure in an organisation will depend on the size of
the organisation, the kind of products or services it provides and requirements of law of the
land.The larger the company, the more accounts clerks and accountants for the processing of the
various transaction and business entries are required. Like-wise for a smaller firm only three to
four accoutants and clerks are required in the finance and accounting department. The other
structure of Accounting and finance department are :
(a) Account Clerks : The data entry of the transaction and making of the vouchers are done by
the account clerks. They also fulfills the responsibilities like filing of documents and getting the
authorisation on the vouchers. They also process the bill and their payments. They also take care
of the bank transactions and reconciliations.
(b) Accountants and Full Charge Bookkeepers : The Accountants are the supervisors of the
accounts and finance department who controls and guide the accounts clerks at the operatinal
level. They provides services like making of adjusting entries and processing the payroll
transactions of the company at the end of the month.
c) Department Controllers and Accounts Managers : The managers have the role of supervisors
who guides the Accountants and clerks and ensures the control over the departments activities
and working according to the requirement at various point of time. They are respoinsible for all
the frauds to happen, so the Controllers takes all the steps to prevent any fraud to happen. The
internal controls are in their hands. Controllers are also responsible for preparing financial
documents like budgets, financial statements and audit reports and rectification reports.
(d) Chief Financial Officer : The Chief Financial Officer (CFO) is the top-most position of the
Accounting and Finance Department of the organization. They are mainly responsible for the
hiring of persons in the department and keep a close look at the working and results of the
department. They are also responsible for the fulfilment of other departments requirements and
paying off the taxes and minimisation of the tax expenses using various options to evade tax. The
controlling of the cost accounting of the organisation is also in their hands.
Thus, the above points constitutes the Accounting and Finance Departments' structure of an
organisation.
============================================

More Related Content

Similar to Describe the accounting and finance structure in an organization..pdf

Accounting
AccountingAccounting
Introduction to Accounting
Introduction to AccountingIntroduction to Accounting
Introduction to Accounting
Gurkirat Singh
 
Meaning of accounting copy
Meaning of accounting   copyMeaning of accounting   copy
Meaning of accounting copy
uvrajneupane
 
What is the Basics of Accounting
What is the Basics of AccountingWhat is the Basics of Accounting
What is the Basics of Accounting
RiyaWalke
 
The accuracy of accounting records is enhanced by the integrity of i.pdf
The accuracy of accounting records is enhanced by the integrity of i.pdfThe accuracy of accounting records is enhanced by the integrity of i.pdf
The accuracy of accounting records is enhanced by the integrity of i.pdf
amuthamcutpieceCente
 
Chap 1
Chap 1Chap 1
Theoritical Frame work of Financial accounting .pptx
Theoritical Frame work of Financial accounting .pptxTheoritical Frame work of Financial accounting .pptx
Theoritical Frame work of Financial accounting .pptx
Buvanesh Chandrasekaran
 
Accounting chapter-1
Accounting chapter-1Accounting chapter-1
Accounting chapter-1
Gyanbikash
 
Accountancy,Business and Management (ABM)
Accountancy,Business and Management (ABM)Accountancy,Business and Management (ABM)
Accountancy,Business and Management (ABM)
Caszel Suello
 
Accountancy, Business and Management
Accountancy, Business and ManagementAccountancy, Business and Management
Accountancy, Business and Management
Caszel Suello
 
What are the 3 types of financial statements.pdf
What are the 3 types of financial statements.pdfWhat are the 3 types of financial statements.pdf
What are the 3 types of financial statements.pdf
sarikabangimatam
 
Basics of financial accounting updated 2023 intel document 4.docx
Basics of financial accounting updated 2023 intel document 4.docxBasics of financial accounting updated 2023 intel document 4.docx
Basics of financial accounting updated 2023 intel document 4.docx
intel-writers.com
 
Management accounting
Management accountingManagement accounting
Management accounting
dheeraj tanwar
 
Mca i fma u 1.1 basic concept of accounting
Mca i fma u 1.1 basic concept  of accountingMca i fma u 1.1 basic concept  of accounting
Mca i fma u 1.1 basic concept of accounting
Rai University
 
Financial and management accounting
Financial and management accountingFinancial and management accounting
Financial and management accounting
Joseph Oloba
 
Business Function Accounting & Auditing.pptx
Business Function Accounting & Auditing.pptxBusiness Function Accounting & Auditing.pptx
Business Function Accounting & Auditing.pptx
Shivani. Naik
 
IGNOU -MCOM - MCO -7 financial management
IGNOU   -MCOM -  MCO -7  financial managementIGNOU   -MCOM -  MCO -7  financial management
IGNOU -MCOM - MCO -7 financial management
Bibek Prajapati
 
Management accounting
Management accounting Management accounting
Management accounting
RAMAPRABAKANNAN
 

Similar to Describe the accounting and finance structure in an organization..pdf (20)

Accounting
AccountingAccounting
Accounting
 
curriculum vitae
 curriculum  vitae curriculum  vitae
curriculum vitae
 
Introduction to Accounting
Introduction to AccountingIntroduction to Accounting
Introduction to Accounting
 
Meaning of accounting copy
Meaning of accounting   copyMeaning of accounting   copy
Meaning of accounting copy
 
What is the Basics of Accounting
What is the Basics of AccountingWhat is the Basics of Accounting
What is the Basics of Accounting
 
The accuracy of accounting records is enhanced by the integrity of i.pdf
The accuracy of accounting records is enhanced by the integrity of i.pdfThe accuracy of accounting records is enhanced by the integrity of i.pdf
The accuracy of accounting records is enhanced by the integrity of i.pdf
 
Chap 1
Chap 1Chap 1
Chap 1
 
Theoritical Frame work of Financial accounting .pptx
Theoritical Frame work of Financial accounting .pptxTheoritical Frame work of Financial accounting .pptx
Theoritical Frame work of Financial accounting .pptx
 
Accounting chapter-1
Accounting chapter-1Accounting chapter-1
Accounting chapter-1
 
Accountancy,Business and Management (ABM)
Accountancy,Business and Management (ABM)Accountancy,Business and Management (ABM)
Accountancy,Business and Management (ABM)
 
Accountancy, Business and Management
Accountancy, Business and ManagementAccountancy, Business and Management
Accountancy, Business and Management
 
Book keeping
Book keeping Book keeping
Book keeping
 
What are the 3 types of financial statements.pdf
What are the 3 types of financial statements.pdfWhat are the 3 types of financial statements.pdf
What are the 3 types of financial statements.pdf
 
Basics of financial accounting updated 2023 intel document 4.docx
Basics of financial accounting updated 2023 intel document 4.docxBasics of financial accounting updated 2023 intel document 4.docx
Basics of financial accounting updated 2023 intel document 4.docx
 
Management accounting
Management accountingManagement accounting
Management accounting
 
Mca i fma u 1.1 basic concept of accounting
Mca i fma u 1.1 basic concept  of accountingMca i fma u 1.1 basic concept  of accounting
Mca i fma u 1.1 basic concept of accounting
 
Financial and management accounting
Financial and management accountingFinancial and management accounting
Financial and management accounting
 
Business Function Accounting & Auditing.pptx
Business Function Accounting & Auditing.pptxBusiness Function Accounting & Auditing.pptx
Business Function Accounting & Auditing.pptx
 
IGNOU -MCOM - MCO -7 financial management
IGNOU   -MCOM -  MCO -7  financial managementIGNOU   -MCOM -  MCO -7  financial management
IGNOU -MCOM - MCO -7 financial management
 
Management accounting
Management accounting Management accounting
Management accounting
 

More from archgeetsenterprises

Need to revise working code below,A good design means the applicat.pdf
Need to revise working code below,A good design means the applicat.pdfNeed to revise working code below,A good design means the applicat.pdf
Need to revise working code below,A good design means the applicat.pdf
archgeetsenterprises
 
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdfMolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
archgeetsenterprises
 
Match the directional term with its Correct ipsilateral media in.pdf
Match the directional term with its Correct  ipsilateral  media  in.pdfMatch the directional term with its Correct  ipsilateral  media  in.pdf
Match the directional term with its Correct ipsilateral media in.pdf
archgeetsenterprises
 
LithiumA. has a very narrow therapeutic range.B. completely cro.pdf
LithiumA. has a very narrow therapeutic range.B. completely cro.pdfLithiumA. has a very narrow therapeutic range.B. completely cro.pdf
LithiumA. has a very narrow therapeutic range.B. completely cro.pdf
archgeetsenterprises
 
Let Z be the group of all integers under the operation of addition. E.pdf
Let Z be the group of all integers under the operation of addition. E.pdfLet Z be the group of all integers under the operation of addition. E.pdf
Let Z be the group of all integers under the operation of addition. E.pdf
archgeetsenterprises
 
In the United States today, nearly all of our electricity isproduc.pdf
In the United States today, nearly all of our electricity isproduc.pdfIn the United States today, nearly all of our electricity isproduc.pdf
In the United States today, nearly all of our electricity isproduc.pdf
archgeetsenterprises
 
In a radio link is required to send digital voice at 4800bps,but can.pdf
In a radio link is required to send digital voice at 4800bps,but can.pdfIn a radio link is required to send digital voice at 4800bps,but can.pdf
In a radio link is required to send digital voice at 4800bps,but can.pdf
archgeetsenterprises
 
hi i have to write a java program involving link lists. i have a pro.pdf
hi i have to write a java program involving link lists. i have a pro.pdfhi i have to write a java program involving link lists. i have a pro.pdf
hi i have to write a java program involving link lists. i have a pro.pdf
archgeetsenterprises
 
Glial cells were originally thought to play a very minor role in the .pdf
Glial cells were originally thought to play a very minor role in the .pdfGlial cells were originally thought to play a very minor role in the .pdf
Glial cells were originally thought to play a very minor role in the .pdf
archgeetsenterprises
 
Fungal reproductive cycle. Place the appropriate label in the correct.pdf
Fungal reproductive cycle. Place the appropriate label in the correct.pdfFungal reproductive cycle. Place the appropriate label in the correct.pdf
Fungal reproductive cycle. Place the appropriate label in the correct.pdf
archgeetsenterprises
 
Explain the concept of distributive justiceSolutiondistributiv.pdf
Explain the concept of distributive justiceSolutiondistributiv.pdfExplain the concept of distributive justiceSolutiondistributiv.pdf
Explain the concept of distributive justiceSolutiondistributiv.pdf
archgeetsenterprises
 
Fecal-oral infections are often a result of _____ droplet transmissi.pdf
Fecal-oral infections are often a result of _____  droplet transmissi.pdfFecal-oral infections are often a result of _____  droplet transmissi.pdf
Fecal-oral infections are often a result of _____ droplet transmissi.pdf
archgeetsenterprises
 
Dr. Z conducts a study examining the effect of socioeconomic status .pdf
Dr. Z conducts a study examining the effect of socioeconomic status .pdfDr. Z conducts a study examining the effect of socioeconomic status .pdf
Dr. Z conducts a study examining the effect of socioeconomic status .pdf
archgeetsenterprises
 
Double branded DNA viruses (select only one answer) all insert their.pdf
Double branded DNA viruses (select only one answer)  all insert their.pdfDouble branded DNA viruses (select only one answer)  all insert their.pdf
Double branded DNA viruses (select only one answer) all insert their.pdf
archgeetsenterprises
 
Discuss the mechanisms by which antibiotic resistance genes can be h.pdf
Discuss the mechanisms by which antibiotic resistance genes can be h.pdfDiscuss the mechanisms by which antibiotic resistance genes can be h.pdf
Discuss the mechanisms by which antibiotic resistance genes can be h.pdf
archgeetsenterprises
 
Develop two biologically relevant and researchable questions comparin.pdf
Develop two biologically relevant and researchable questions comparin.pdfDevelop two biologically relevant and researchable questions comparin.pdf
Develop two biologically relevant and researchable questions comparin.pdf
archgeetsenterprises
 
Describe two methods for communicating the material in an Informatio.pdf
Describe two methods for communicating the material in an Informatio.pdfDescribe two methods for communicating the material in an Informatio.pdf
Describe two methods for communicating the material in an Informatio.pdf
archgeetsenterprises
 
Describe the following structuresfunctions or cells Dermal, vascul.pdf
Describe the following structuresfunctions or cells  Dermal, vascul.pdfDescribe the following structuresfunctions or cells  Dermal, vascul.pdf
Describe the following structuresfunctions or cells Dermal, vascul.pdf
archgeetsenterprises
 
Consider an assembly of thousands of people, all screaming, yelling,.pdf
Consider an assembly of thousands of people, all screaming, yelling,.pdfConsider an assembly of thousands of people, all screaming, yelling,.pdf
Consider an assembly of thousands of people, all screaming, yelling,.pdf
archgeetsenterprises
 
Concrete and cementI) Give an example of non-calcium silicate cem.pdf
Concrete and cementI) Give an example of non-calcium silicate cem.pdfConcrete and cementI) Give an example of non-calcium silicate cem.pdf
Concrete and cementI) Give an example of non-calcium silicate cem.pdf
archgeetsenterprises
 

More from archgeetsenterprises (20)

Need to revise working code below,A good design means the applicat.pdf
Need to revise working code below,A good design means the applicat.pdfNeed to revise working code below,A good design means the applicat.pdf
Need to revise working code below,A good design means the applicat.pdf
 
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdfMolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
MolluscaIdentify the distinguishing characteristics of Phylum Moll.pdf
 
Match the directional term with its Correct ipsilateral media in.pdf
Match the directional term with its Correct  ipsilateral  media  in.pdfMatch the directional term with its Correct  ipsilateral  media  in.pdf
Match the directional term with its Correct ipsilateral media in.pdf
 
LithiumA. has a very narrow therapeutic range.B. completely cro.pdf
LithiumA. has a very narrow therapeutic range.B. completely cro.pdfLithiumA. has a very narrow therapeutic range.B. completely cro.pdf
LithiumA. has a very narrow therapeutic range.B. completely cro.pdf
 
Let Z be the group of all integers under the operation of addition. E.pdf
Let Z be the group of all integers under the operation of addition. E.pdfLet Z be the group of all integers under the operation of addition. E.pdf
Let Z be the group of all integers under the operation of addition. E.pdf
 
In the United States today, nearly all of our electricity isproduc.pdf
In the United States today, nearly all of our electricity isproduc.pdfIn the United States today, nearly all of our electricity isproduc.pdf
In the United States today, nearly all of our electricity isproduc.pdf
 
In a radio link is required to send digital voice at 4800bps,but can.pdf
In a radio link is required to send digital voice at 4800bps,but can.pdfIn a radio link is required to send digital voice at 4800bps,but can.pdf
In a radio link is required to send digital voice at 4800bps,but can.pdf
 
hi i have to write a java program involving link lists. i have a pro.pdf
hi i have to write a java program involving link lists. i have a pro.pdfhi i have to write a java program involving link lists. i have a pro.pdf
hi i have to write a java program involving link lists. i have a pro.pdf
 
Glial cells were originally thought to play a very minor role in the .pdf
Glial cells were originally thought to play a very minor role in the .pdfGlial cells were originally thought to play a very minor role in the .pdf
Glial cells were originally thought to play a very minor role in the .pdf
 
Fungal reproductive cycle. Place the appropriate label in the correct.pdf
Fungal reproductive cycle. Place the appropriate label in the correct.pdfFungal reproductive cycle. Place the appropriate label in the correct.pdf
Fungal reproductive cycle. Place the appropriate label in the correct.pdf
 
Explain the concept of distributive justiceSolutiondistributiv.pdf
Explain the concept of distributive justiceSolutiondistributiv.pdfExplain the concept of distributive justiceSolutiondistributiv.pdf
Explain the concept of distributive justiceSolutiondistributiv.pdf
 
Fecal-oral infections are often a result of _____ droplet transmissi.pdf
Fecal-oral infections are often a result of _____  droplet transmissi.pdfFecal-oral infections are often a result of _____  droplet transmissi.pdf
Fecal-oral infections are often a result of _____ droplet transmissi.pdf
 
Dr. Z conducts a study examining the effect of socioeconomic status .pdf
Dr. Z conducts a study examining the effect of socioeconomic status .pdfDr. Z conducts a study examining the effect of socioeconomic status .pdf
Dr. Z conducts a study examining the effect of socioeconomic status .pdf
 
Double branded DNA viruses (select only one answer) all insert their.pdf
Double branded DNA viruses (select only one answer)  all insert their.pdfDouble branded DNA viruses (select only one answer)  all insert their.pdf
Double branded DNA viruses (select only one answer) all insert their.pdf
 
Discuss the mechanisms by which antibiotic resistance genes can be h.pdf
Discuss the mechanisms by which antibiotic resistance genes can be h.pdfDiscuss the mechanisms by which antibiotic resistance genes can be h.pdf
Discuss the mechanisms by which antibiotic resistance genes can be h.pdf
 
Develop two biologically relevant and researchable questions comparin.pdf
Develop two biologically relevant and researchable questions comparin.pdfDevelop two biologically relevant and researchable questions comparin.pdf
Develop two biologically relevant and researchable questions comparin.pdf
 
Describe two methods for communicating the material in an Informatio.pdf
Describe two methods for communicating the material in an Informatio.pdfDescribe two methods for communicating the material in an Informatio.pdf
Describe two methods for communicating the material in an Informatio.pdf
 
Describe the following structuresfunctions or cells Dermal, vascul.pdf
Describe the following structuresfunctions or cells  Dermal, vascul.pdfDescribe the following structuresfunctions or cells  Dermal, vascul.pdf
Describe the following structuresfunctions or cells Dermal, vascul.pdf
 
Consider an assembly of thousands of people, all screaming, yelling,.pdf
Consider an assembly of thousands of people, all screaming, yelling,.pdfConsider an assembly of thousands of people, all screaming, yelling,.pdf
Consider an assembly of thousands of people, all screaming, yelling,.pdf
 
Concrete and cementI) Give an example of non-calcium silicate cem.pdf
Concrete and cementI) Give an example of non-calcium silicate cem.pdfConcrete and cementI) Give an example of non-calcium silicate cem.pdf
Concrete and cementI) Give an example of non-calcium silicate cem.pdf
 

Recently uploaded

Home assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdfHome assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdf
Tamralipta Mahavidyalaya
 
Francesca Gottschalk - How can education support child empowerment.pptx
Francesca Gottschalk - How can education support child empowerment.pptxFrancesca Gottschalk - How can education support child empowerment.pptx
Francesca Gottschalk - How can education support child empowerment.pptx
EduSkills OECD
 
The approach at University of Liverpool.pptx
The approach at University of Liverpool.pptxThe approach at University of Liverpool.pptx
The approach at University of Liverpool.pptx
Jisc
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
Sandy Millin
 
The Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdfThe Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdf
kaushalkr1407
 
Operation Blue Star - Saka Neela Tara
Operation Blue Star   -  Saka Neela TaraOperation Blue Star   -  Saka Neela Tara
Operation Blue Star - Saka Neela Tara
Balvir Singh
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
joachimlavalley1
 
Sha'Carri Richardson Presentation 202345
Sha'Carri Richardson Presentation 202345Sha'Carri Richardson Presentation 202345
Sha'Carri Richardson Presentation 202345
beazzy04
 
Palestine last event orientationfvgnh .pptx
Palestine last event orientationfvgnh .pptxPalestine last event orientationfvgnh .pptx
Palestine last event orientationfvgnh .pptx
RaedMohamed3
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
heathfieldcps1
 
Instructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptxInstructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptx
Jheel Barad
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Thiyagu K
 
The Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptxThe Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptx
DhatriParmar
 
Embracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic ImperativeEmbracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic Imperative
Peter Windle
 
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXXPhrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
MIRIAMSALINAS13
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
TechSoup
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
Anna Sz.
 
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
Levi Shapiro
 
Synthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptxSynthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptx
Pavel ( NSTU)
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
camakaiclarkmusic
 

Recently uploaded (20)

Home assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdfHome assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdf
 
Francesca Gottschalk - How can education support child empowerment.pptx
Francesca Gottschalk - How can education support child empowerment.pptxFrancesca Gottschalk - How can education support child empowerment.pptx
Francesca Gottschalk - How can education support child empowerment.pptx
 
The approach at University of Liverpool.pptx
The approach at University of Liverpool.pptxThe approach at University of Liverpool.pptx
The approach at University of Liverpool.pptx
 
2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
 
The Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdfThe Roman Empire A Historical Colossus.pdf
The Roman Empire A Historical Colossus.pdf
 
Operation Blue Star - Saka Neela Tara
Operation Blue Star   -  Saka Neela TaraOperation Blue Star   -  Saka Neela Tara
Operation Blue Star - Saka Neela Tara
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
 
Sha'Carri Richardson Presentation 202345
Sha'Carri Richardson Presentation 202345Sha'Carri Richardson Presentation 202345
Sha'Carri Richardson Presentation 202345
 
Palestine last event orientationfvgnh .pptx
Palestine last event orientationfvgnh .pptxPalestine last event orientationfvgnh .pptx
Palestine last event orientationfvgnh .pptx
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
 
Instructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptxInstructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptx
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
 
The Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptxThe Accursed House by Émile Gaboriau.pptx
The Accursed House by Émile Gaboriau.pptx
 
Embracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic ImperativeEmbracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic Imperative
 
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXXPhrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
 
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
 
Synthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptxSynthetic Fiber Construction in lab .pptx
Synthetic Fiber Construction in lab .pptx
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
 

Describe the accounting and finance structure in an organization..pdf

  • 1. Describe the accounting and finance structure in an organization. Solution The accounting and finance departments structure in an organisation will depend on the size of the organisation, the kind of products or services it provides and requirements of law of the land.The larger the company, the more accounts clerks and accountants for the processing of the various transaction and business entries are required. Like-wise for a smaller firm only three to four accoutants and clerks are required in the finance and accounting department. The other structure of Accounting and finance department are : (a) Account Clerks : The data entry of the transaction and making of the vouchers are done by the account clerks. They also fulfills the responsibilities like filing of documents and getting the authorisation on the vouchers. They also process the bill and their payments. They also take care of the bank transactions and reconciliations. (b) Accountants and Full Charge Bookkeepers : The Accountants are the supervisors of the accounts and finance department who controls and guide the accounts clerks at the operatinal level. They provides services like making of adjusting entries and processing the payroll transactions of the company at the end of the month. c) Department Controllers and Accounts Managers : The managers have the role of supervisors who guides the Accountants and clerks and ensures the control over the departments activities and working according to the requirement at various point of time. They are respoinsible for all the frauds to happen, so the Controllers takes all the steps to prevent any fraud to happen. The internal controls are in their hands. Controllers are also responsible for preparing financial documents like budgets, financial statements and audit reports and rectification reports. (d) Chief Financial Officer : The Chief Financial Officer (CFO) is the top-most position of the Accounting and Finance Department of the organization. They are mainly responsible for the hiring of persons in the department and keep a close look at the working and results of the department. They are also responsible for the fulfilment of other departments requirements and paying off the taxes and minimisation of the tax expenses using various options to evade tax. The controlling of the cost accounting of the organisation is also in their hands. Thus, the above points constitutes the Accounting and Finance Departments' structure of an organisation. ============================================