Accounting department in a new/growing and established company

'The department is the heart of the company,when it fails all the other departments fail too'

1. How are policies and procedures refreshed or setup?
2. Can accounting departments do more to drive efficiency in other departments?
3. Can this department subcontracted, pros and cons?
4. Costs of services and products change every day, how does this department keep upto
5. Does it have enough authority to enforce budgets adherence?
6. Most managers don't have accounting back ground,how can the department assist managers to become 'accounting department friendly'
7. Should accounting personnel spend time in other departments?
8. 'Finance directors and managers are somewhere within the company'-how do they know what happens on the ground?Is it beneficial for them to visit departments with other directors?
9. Is it an advantage to have accounting clerks with operational experience?They can easily detect fraud based on their knowledge and experience?
10. Basic accounting should be taught to every under graduate or college students?
11. Who should followup on audit reports?

• Responsibilities

1. Budgeting
2. Risk management
3. Banking
4. Payments
5. Financial planning and control
6. Investment strategies
7. Cash flow
8. Asset register development and updating
9. Selecting the accounting software
10. Procurement
11. Contracts management

• Interdepartmental relationships

1. Departmental reports
2. Budget control

• Statutory accounts
• Budget consolidation
• Personnel and training
• Finance director
• Finance manager
• Accountant
• Credit control officer
• Accounts clerk