The financial KRA involves determining the value of resources and making decisions about allocating resources. It includes acquiring, investing, and managing financial resources. Key aspects of the financial KRA are calculating gross profit by subtracting direct costs from total income, calculating net profit by subtracting operating costs from gross profit, and calculating net cash flow by subtracting total payments from total receipts. The financial KRA also establishes financial controls and procedures, manages accounting and reporting systems, and prepares financial statements and reports.

1. Financial KRA (Key Result Area)

2.  relating to or involving money or finance
 A discipline concerned with determining
value and making decisions.
 function allocates resources, including the
acquiring, investing, and managing of
resources.
 The study of money and how it is used.

3.  Total income (revenue) less direct costs (or C.O.G.S.)
equals gross profit (contribution margin) and gross profit
less operating costs (cost of running the business) is equal
to net profit.
 Total receipts (inflows) less total payments (outflows) is
equal to net cash flow surplus.
 Net profit is calculated as the excess of income (revenue)
over expenses of the operation for a given period. Income
(revenue) is the earnings of the business and expenses are
it's running costs.
 Net cash flow surplus is calculated as the excess of
receipts (inflows) over payments for a given period.
Receipts are the cash inflows of the business, payments
are it's cash outflows or outgoings.

4.  Establishes systems controls for and procedures
for financial and accounting systems to achieve
corporate objectives.
 Directs installation and maintenance of
accounting, time
keeping, 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.

5.  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.

6.  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.

7.  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.