Organization of an acccounting department


An accounting & finance department normally includes the following positions: Chief Accountant, General Accountant, and functional accountants.  

1. Chief Accountant 

Management work: 

  • Take the highest responsibility for all aspects of the accounting & finance department, especially the trueness and fairness of the accounting data provided for the authorized users. 
  • Set up the personnel structure, recruit and allocate tasks to each position, supervise and monitor their performance. 
  • Report the financial situation and business results of the company to the board of directors; receive, disseminate and promptly implement the directives of the board of directors of the company. 
  • Coordinate with other departments when and where required. 

Finance works: 

For small enterprises, chief accountant can concurrently do the financial works as described below. For large enterprises, financial works will be in charged by the Chief Financial Officer - see more description at the FAQ - A10. 

  • Responsible for mobilizing funds and allocating funds for the company's activities. Evaluate the efficiency of the company's use of funds and propose proper measures for enhancement. 
  • Manage cash flows, relationships with banks, credit institutions and other financial institutions to ensure the company always in a good liquidity status. 
  • Analyze and financially evaluate the company’s financial investments and business results and implement proper solutions to improve the financial performance.  

Accounting works: 

  • Set up, maintain and continuously enhance policies, procedures, processes, templates regarding accounting works to ensure that accounting information is promptly, accurately, truly and fairly provided for the related parties. 
  • Review the works and reports submitted by accounting staff to make sure no material mistakes 
  • Provide technical guidance and supports for accounting staff when and where necessary 
  • Lead and direct the annual counting and reconciliation of assets and liabilities. 
  • Review and control accounting documents to ensure their completeness and eligibility 
  • Review all contracts before signing to identify any potential risks to the company  


2. General Accountant: 

  • Check and compile accounting reports submitted by branches / units. 
  • Supervise and review the daily works performed by functional accountants 
  • Provide technical guidance for functional accountants when and where required. 
  • Provide accounting data for the Chief Accountant and the Board of Directors upon requests. 
  • Perform other duties as assigned by the Chief Accountant. 


3. The accountant-in-charge of detailed sections: 

  • Process the accounting works of the detailed sections such as: sales, AR, AP, settlement, payroll, inventories, costing, fixed assets, taxes,... 
  • Perform other works under the assignment of the chief accountant.