Finance Team Checklist

Checklist
To know the preparation of balance sheets, finance statements, cash-flow reports,
day-to-day record keeping and reporting, including all payroll, accounts payable
and receivable.

Importance
To understand the responsiblitites of an oragnization finance team.

Finance Teams; Accounting and Report Functions

Manage the preparation of balance sheets, financial statement, cash-flow reports
day-to-day record keeping, and reporting, including all payroll, accounts payable,
and receivable.

Also manages and conducts all internal audits and controls, and tax and reporting
functions. It makes sure that the organization is in line with regulations and is in
good financial health.

Record Keeping and Reports

Keeping tracks of all the transaction and financial events

Accounts payable and Accounts Receivable

Accounts payable (AP) - department who is responsible for making payments
to outside partners for goods and services.

Accounts receivable (AR) - Tracks the money that comes into the
organization from services by consumes or clients.

Payroll
a critical function that makes sure all employees are paid accurately (calculating
overtime, paid leave, etc.) and in timely fashion. (Additionally, a payroll department
makes sure taxes, pension contributions and other benefits are accurately
calculated and paid on time to the necessary agencies.

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 Finance Controls
A senior role in an accounting team and makes all financial processes follow legal
guidelines and complience.

Finance Teams: Strategic Finance

Management
The strategic finance team creates forecasts and plans to ensure growth, manages
and mitigates risk, looks at ways to increase capital, manages budgets and
financing options, and liaises with investors.
Financial Planning and Growth
Risk Management
Capital Budgeting
Treasury
Financing
Investor Relations
Corporate Strategy

Financial Planning and Growth

Analyses all the reports from the accounting team that uses market trends to
predict how the organization will perform in a month, quarter, or year.
It can also provide insights of upcoming issues or potential profits and
make strategic decisions.

Risk Management
Identify, evaluate, prioritize and mitigate risks that affect a company and its
functions.

Capital Budgeting
Looks at the various options and projects available for investment.

Treasury
Oversee and look after the organization;s cash and make sure that there is
enough available to immediate needs for business
Financing
Involves the availability of funds, expenses, obligation and revenue streams.

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 Investor Relations

Provides investors with reports on the company’s performance or future

changes. (investors, shareholders and other stakeholders that have an
interest in the company’s finances and stability.)

Corporate Strategy

Provides an overarching view of the organization.

Finance Team Job Roles

CFO (Chief Financial Operator) – The head of the finance department. They
oversee the entire finance department and are particularly involved in financial
strategy and the health of the organization.

FC (Financial Controller) – Oversees accounting functions and manages the

team that oversees all the analysis, reporting, budgets – the more immediate
financial needs and management.

Treasury Manager – Responsible for capital and finding the best investment
opportunities, developing relationships with outside stakeholders, optimizing and
managing banking and credit relationships and managing and minimizing costs.

Chief Accountant or Accounting Manager – Responsible for all accounting and

reporting activities and the day-to-day running of the organization's finance
requirements.

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