Role of F&A Manager in a Company

I am not an accountant or CA, but with my experience in corporate world, I have compiled a list of duties in the financial function of a company.

Accounting

1.     Controlling Accounts Payables and Account Receivables.

2.     Monthly MI.

3.     P & L A/C, Balance Sheet (for each project, division and company).

4.     Monthly Provisions Entries.

5.     Finalisation of Accounts.

6.     Liasioning with Statutory Auditors, VAT Auditors.

7.     Salary Entry Monthly.

8.     A/P and A/R and Intercompany Accounts Reconciliation.

9.     Taxation.

10.  Project Report Preparation.

11.  Monthly Stock and Debtors Statement to Bankers.

12.  Submission of QIS Reports to Bankers.

13.  Preparation of CMA Data.

14.  5(Five) Years Projections to Bankers etc.

15.  Handle the daily operations of the accounting department.

16.  Process month and end year process.

17.  Accounts payable/receivable, cash receipts, general ledger.

18.  Treasury, budgeting, cash forecasting.

19.  Revenue and expenditure variance analysis.

20.  Assistance to project managers in preparation of invoices, bills and making adjustments to them as per the contracts.

21.  Outstanding Liability Report.

22.  TDS Report and Payments.

23.  Vat Reports and Payments.

24.  E-filling of VAT Returns- Monthly.

25.  Fixed Assets Report.

26.  Monthly Provisions.

27.  All e-payments Limited Review.

28.  Cash Flow Statement.

29.  Monthly Excise Returns.

30.  Checking and fixing CENVAT payable on sales.

Accounting Management

31.  Design a documented system of accounting policies and procedures.

32.  Manage outsourced functions.

33.  Oversee the operations of the treasury.

34.  Design of an organizational structure.

35.  Maintains financial security by establishing internal controls.

Fund Management/Banking

36.  Forecast cash flow positions, related borrowing needs, and available funds for investment.

37.  Ensure that sufficient funds are available to meet ongoing operational.

38.  Estimate capital investment requirements.

39.  Analyse company's borrowings, as well as on its foreign exchange positions.

40.  Maintain banking relationships.

41.  Assist in determining the company's proper capital structure.

42.  Confirms financial status by monitoring revenue and expenses; coordinating the collection, consolidation and evaluation of financial data; preparing special reports.

Budgeting

43.  Manage the preparation of the company's budge.t

44.  Report to management on variances from the established budget, and the reasons for those variances.

Business Development Assistance

45.  Preparation of man-hour charges.

46.  Computation of overheads.

47.  Computation of returns’

48.  Computation of cost of capital

49.  Assist management in the formulation of its overall strategic direction.

50.  Assistance to BD in reviewing the performance of competitors and report on key issues to management.

51.  Assist in the determination of product pricing in relation to features offered and competitor pricing.

52.  Preparation of Bank guarantees/Bid Securities and recovery of them when they expire.

Human resources

53.  Computation and payment of salaries.

54.  Management of PF.

55.  Management of statutory bonus.

56.  Management of Minimum wages act, etc. compliance.

57.  Assist in the determination of product pricing in relation to features offered and competitor pricing.

58.  Management of financial aspect of various administrative policies.

59.  Audit of outsourcing agencies regulatory compliance.

Taxation

60.  Regular filing of all tax returns.

61.  Income tax compliance.

62.  VAT/CST/Cesses/GST (as applicable)/Works Contract Tax compliance.

63.  TDS compliance.

64.  Audit of outsourcing agencies regulatory compliance.

Financial Analysis

65. Engage in ongoing cost reduction analyses in all areas of the company.

66.  Interpret the company's financial results to management and recommend improvement. activities

67.  Review company bottlenecks and recommend changes to improve the overall level of company throughput.

68.  Participate in target costing activities to create products that meeting predetermined price goals.

69.  Compile key business metrics and report on them to management.

70.  Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis.

71.  Create additional analyses and reports as requested by management.

Reports:

72.  Preparation of annual reports.

73.  Monitor and analyse accounting data and produce financial reports or statements.

74.  Establish and enforce proper accounting methods, policies and principles.

75.  Coordinate and complete annual audits.

76.  Provide recommendations.

77.  Improve systems and procedures and initiate corrective actions.

78.  Assign projects and direct staff to ensure compliance and accuracy.

79.  Establish and maintain fiscal files and records to document transactions.

Requirements

80.  Proven working experience as Accounting Manager.

81.  Advanced computer skills on MS Office, accounting software and databases.

82.  Ability to manipulate large amounts of data.

83. Proven knowledge of accounting principles, practices, standards, laws and regulations.

1. Avoids legal challenges by understanding current and proposed legislation; enforcing accounting regulations; recommending new procedures.
2. Protects organization's value by keeping information confidential.
3. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
4. Accomplishes accounting and organization mission by completing related results as needed.