Finance Department

Why you need Accountant?
Why hire Full-Time Accountant when you can get Outsourced?


What are the Skills / Responsibility by each Level?


Skills / Responsibility

Accounts Assistant

Accounts Executive

Accountant

Finance Manager

CFO

Focus on ….

PAST

Present

Present to Future

Data entry for Day-to-day transaction

Posting Journal Entry

Bank Reconciliation

✅❌

Monitoring Receivables / Payables

✅❌

✅❌

Review work done by data entry personnel

Guide accounting clerical staff by coordinating activities

Prepare Financial Statements

✅❌

Financial Ratio Analysis and recommend actions

✅❌

Forecast and Budget

✅❌

Secures financial information by completing database backups

✅❌

Well verse with relevant law, regulation and the changes,
E.g. Companies Act, GST Act, Income Tax Act, RPGT Act, Labour Act, EIS Act etc.

✅❌

Shareholding Planning

✅❌

Succession Planning

Funding and liaise with financier

✅❌

Bursa Listing Requirement

✅❌

Assumptions

First, Finance Department (FD) vs. Accounts Department. (AD)


FD includes AD.

AD is part of FD.


Second, The position / level in FD generally includes


CFO

FM

Accountant (A)

Accounts Executive (AE)

Accounts Assistant (AA)