Detailed works of an accounting department in an enterprise

Some main works of the accounting & finance department in an enterprise are described below:

• Promptly record and reflect all economic transactions occurred in the enterprise into the accounting system.
• Open and monitor detailed accounting ledgers for important items of the financial statements such as receivables, payables, fixed assets, inventories, costs of goods sold, tools, equipment, revenue, expenses...
• Review all accounting documents submitted to make sure they are complete and eligible in compliance with regulations. 
• Manage and control issuance of invoices in compliance with guidance of tax authorities.
• Prepare relevant reports for different purposes such as for internal management, for tax compliance, for investors; for insurance agents…
• Ensure accounting documents are archived in order and in accordance with regulations
• Provide explanation of accounting figures to the related parties including both internal and external (such as the board of directors, investors, tax authorities...)
• Deal directly with inspection teams (such as independent/ internal auditors, tax agencies, customs offices...)
• Advise the company’s management on building expenditure budgets and help to control the actual expenditure transactions to make sure they are under the approved budgets.
• Update changes in professional knowledge and regulations to provide proper advices for the company’s management.
• Develop and continuously enhance the internal policies and procedures regarding accounting, tax and finance
• Coordinate with other departments in daily activities when needed
• Handle all related problems if occurred