Accounting and Finance
Typical Structure and Responsibilities
Chief Financial Officer
- Strategic planning
- Financial structure planning
- Operational planning
- Taxes & tax planning
- Budget setting
- Pricing & profitability
- Financing
- Banking arrangements
- External financial statements
- Information systems infrastructure design
- Operational audits
- Control structure
- Compensation system design
- Manage foreign currency risk
- Review leases & contracts
- Cash flow forecasting & management
Controller
- Internal financial statements
- Credit & collections
- Budget implementation
- Cost control & reduction
- Policies & procedures
- Management of compensation system
- Capital investment analysis
- Cost & sales analysis
- Inventory control
- Information systems maintenance
- Year-end accounting adjustments
- Accruals monthly & year-end
- Internal control
- Reconcile General Ledger & sub-ledgers
- Review payroll and sales tax reports
Bookkeeper
- Reconcile bank accounts
- Maintain sales tax information
- Maintain accounting records
- Maintain payroll records
- Maintain Accounts Receivable & Payable
- Issue invoices
- Issue checks
- Enter & reconcile credit card transactions
Note: These are sample duties typically found in a small to medium business under each
general area of responsibility. It does not mean that the same individual person should be
doing all the tasks listed. It is important that each company create an adequate system of
internal controls and segregation of duties.
- R. S. Kulzick - 07/03/2001 -
Contact rkulzick@stu.edu with
questions or comments about this web site.
Copyright © 2001 Raymond S. Kulzick - Last modified: September 13, 2008