Some main works of the accounting & finance department in an enterprise are described below:
- Promptly record and reflect all economic transactions occurred in the enterprise into the accounting system.
- Open and monitor detailed accounting ledgers for important items of the financial statements such as receivables, payables, fixed assets, inventories, costs of goods sold, tools, equipment, revenue, expenses...
- Review all accounting documents submitted to make sure they are complete and eligible in compliance with regulations.
- Manage and control issuance of invoices in compliance with guidance of tax authorities.
- Prepare relevant reports for different purposes such as for internal management, for tax compliance, for investors; for insurance agents…
- Ensure accounting documents are archived in order and in accordance with regulations
- Provide explanation of accounting figures to the related parties including both internal and external (such as the board of directors, investors, tax authorities...)
- Deal directly with inspection teams (such as independent/ internal auditors, tax agencies, customs offices...)
- Advise the company’s management on building expenditure budgets and help to control the actual expenditure transactions to make sure they are under the approved budgets.
- Update changes in professional knowledge and regulations to provide proper advices for the company’s management.
- Develop and continuously enhance the internal policies and procedures regarding accounting, tax and finance
- Coordinate with other departments in daily activities when needed
- Handle all related problems if occurred