Good day Guys, please am working on the structure of finance department of organisation(something like organogram). I will really appreciate your assiatance on the organogram of finance in your offices,( i dont need the name of your organisation) just the organogram and a brief of the expectation on the levels(brief on job description) looking at oil and gas,MTN,Guiness,Banks,FMCG.Thanks in anticipation of your responses.

divide the department into payable and receivable first and carry on from there. I will help more if I have time later in the day.

FInance Director to the deputy finance director to Chief accountant and the HOD finance to the cashier
the cashier is in charge of disbursing petty cash , the HOD finance prepare the monthly budget and salary of staff alongside the accountant , while the Deputy Finance will ratify( he can only approve in the absent of the Director of Finance. this is my own contribution from an accounting consulting firm

OIL & GAS

                             HEAD OF FINANCE/CHIEF FINANCE OFFICER
        (Develops the coy's overall finance strategy, oversees 3 units of Finance, advises management)
           ^                                                            ^                                                          ^
           ^                                                            ^                                                          ^
           ^                                                            ^                                                          ^
               
    FINANCIAL CONTROLLER                         TREASURY MANAGER                                       MIS MANAGER
Prepares monthly financial a/cs                          Liquidity mgt                                   Prepares monthly Management a/cs
Oversees Accounts payable                            Liaising with banks                              Finance information management
Oversees other sub-units under him                Oversees Accounts receivable             Budgeting, performance evaluation etc

        ^                                                            ^                                                          ^
        ^                                                            ^                                                          ^
        ^                                                            ^                                                          ^
TAX/PAYROLL ACCOUNTANT                  CREDIT CONTROLLER               PERFORMANCE MONITORING&REPORTING OFFICER
(manages tax, pension issues)               (in charge of AR)                   (analyses company's financial ratios, indicators etc)
FIXED ASSET ACCOUNTANT                   BANKING OFFICER                              BUDGETING    OFFICER
(oversees Fixed Assets)                    (for banking transactions)            (Coordinates budgeting process, and monitor)  
FINANCIAL ACCOUNTANT                  RECONCILIATION OFFICER
(prepares fin. a/cs, oversees AP)      (reconciliation of bank a/cs)
STOCK ACCOUNTANT                               CASHIER
(stock mgt and accounting)            (payments, cheques collection etc)

NB: Depending on size of organization and volume of transactions, these units/sub-units may be merged or further split.
Also, in some organizations, the Head of Finance, if part of the board, will be addressed as Executive Director - Finance, but will do practically the same thing. Just nomenclature.

Please more from what I know, the company is divided into 4

1. Accounting
2. Human Resources
3. Finance
4. Advertising


From what I've seen only accounting has been divided

My Finance Department (Financial Services firm)
1: Executive Director -Finance
2: Financial Controller
3: Treasury Unit
4: Business Unit
5: Risk & Control

uac restaurants

gm finance
management accountant
financial accountant
treasury accountant
management accountant controller,

u can call me on 07031368684 for full details

it is 2 page orgonogram with details of job description and who and who is reporting to the other.thats y the call is neccessary.mind u,u guys are dealing with the experienced an d special one like morinho.pls,dont talk soccer here.just illustrating who i be,ok

l.a.j:

uac restaurants

gm finance
management accountant
financial accountant
treasury accountant
management accountant controller,

u can call me on 07031368684 for full details

They should call you on phone abi? You want to sell the information, please say whatever you have to say here

blink182:

They should call you on phone abi? You want to sell the information, please say whatever you have to say here

.

Seconded
Which kain fone call be that

Usually, you have a reporting/budget and planning team, payables, receivables, Fixed assets, inventory control/management, and treasury ops/cash management.
For most organizations, finance teams are structured along those lines, at a high level, reporting to a financial controller/director/CFO.

AjanleKoko:

Usually, you have a reporting/budget and planning team, payables, receivables, Fixed assets, inventory control/management, and treasury ops/cash management.
For most organizations, finance teams are structured along those lines, at a high level, reporting to a financial controller/director/CFO.

How big does a company get for it to have all these varying office?

Finance Director - PA
     |
Financial controller - Finance Manager/Finance Planning manager - Treasury manager - Credit control manager - A/P Manager
     |
Finance planning and analysis - Commercial analysts, financial analysts
     |
Management Accounts -  Management Accountants/Financial Accountants - Account Assistant
     |
Treasury - Treasury officers/assistants
     |
Account Receivable - A/R Supervisor - A/R Clerks
     |
Accounts Payable -A/P Supervisor -  A/P  Clerks
     |
Office Assistants

GM (FINANCE)
I
MANAGERS
I
OFFICERS
I
ASSISTANTS

Eliminate bureaucracy in whatever you do!

I think what the poster want is setting up a system (pls correct me if i am wrong)

Number one is set up hierarchy and forms, who request for what, who signs it, and who pays.

If it is organograph, we need to know the size of your organisation, is it as big as the big companies you mentioned?

Inbox me and you have your answer in a jiffy!

blink182:

How big does a company get for it to have all these varying office?

Well . . . the OP said Finance Department. If you're a small company, you concern yourself only with accounting duties. That still has most of what I mentioned earlier.

-If you have suppliers, then you need to have a payables function.
-If you have customers, you need to have a receivables function.
-You need Cash Management to handle your cash inflow and outflow, as well as banking transactions. If you are big enough and deal with import/export and the likes, LPO financing, bridge financing, capital management/structured financing, and what have you, you need a full-fledged treasury operations function.
-If you have physical goods which you sell to your customers, then you need to have stock management/inventory control.
-All your activities need to be centrally planned and reported to management, and the balance sheet needs to be maintained. That's the budget/planning/financial reporting function.
-Not to forget fixed assets. For smaller companies, maybe it might be merged with inventory control, if the company does not have fixed assets. Else you need to manage a dedicated assets register.

In the smallest of organisations, all of these functions can be carried out by one person, or two (storekeeper). In large organizations, it is a team of people. The principle is what counts.

Hello guys,
Am indeed extremely grateful to those that have responded on this topic, i hope to acknowlegde you guys on my report towards helping out with info.
Look forward to others response also.

Thanks once again.

Accounting Departments are usually structured along functional lines:

Accounts Payable: deal with suppliers
Accounts Receivable: deal with customers or clients
Payroll : Salary and wages with all related deduction
Final Account: deal with general leger, adjustment, monthly closure of account etc
Petty cash: handling small small cash as define by company policy
Fixed Asset Management : fixed asset management as the name indicate
Bank Reconciliation: reconciling bank account with your payables
Budgetting

A small company may have one person performing more than one (sometimes all) of the functions. In this case, there needs to be financial controls to reduce the probability of theft or embezzelment.

In a large company, there could be many people working in one functional area; and in that case, that function might be broken down to smaller components.

You guys have already done justice to ths. Thanx. I even learnt a thing

This was really educative.

It feels good to be an Accountant!!!!!!!!!

LFJ:

Accounting Departments are usually structured along functional lines:

Accounts Payable: deal with suppliers
Accounts Receivable: deal with customers or clients
Payroll : Salary and wages with all related deduction
Final Account: deal with general leger, adjustment, monthly closure of account etc
Petty cash: handling small small cash as define by company policy
Fixed Asset Management : fixed asset management as the name indicate
Bank Reconciliation: reconciling bank account with your payables
Budgetting

A small company may have one person performing more than one (sometimes all) of the functions. In this case, there needs to be financial controls to reduce the probability of theft or embezzelment.

In a large company, there could be many people working in one functional area; and in that case, that function might be broken down to smaller components.

In most organisations, Payroll is a sub-unit in HR.

It is all about the Accountant

denzel2009:

In most organisations, Payroll is a sub-unit in HR.

If there is company where HR is responsible/prepares Payroll they are in small number. So it may not be true to say that most organizations have payroll unit as a sub unit of HR. In Nigeria today, all most all organization have their payroll unit as a sub-unit of Account department. In western world, the practice is a bit different, especially in the United State where most organization contract out such responsibility to Payroll Company who work as agent of the company. The HR only serve as an intermediary between the company and the payroll company, by forwarding to payroll company the time sheet and distribute checks/cheques and pay stub as the case may be to staff.

I handle payroll accounting for my organization, in addition to Tax and Fixed Assets. Before, the payroll function was fully in HCM. But not being accountants, there usually arose reconciliation issue during audit. The payable officer in HCM can only prepare and analyses payroll data but does not know where to credit or debit, where to adjust, where to apportion, where to reclassify etc. That was why we trasnferred the function to Finance, not as a full sub-unit but merged to Tax unit, which I currently handle. The administrativeaspect of payroll(salary processing, deductions, analysis etc) still resides with the HCM payroll officer but the accounting part is now in Finance, and both interfaces.

philipinho:

Eliminate bureaucracy in whatever you do!

Departmental Structures in most Nigerian companies are Bureaucratic simply because they create too many positions and sub-units to settle some staff who feel the need to get promoted or have reached their performance limit and do not want to resign or get another job elsewhere.

Automation and use of advanced ERP also lead to shrinking of structure.

For example, few years ago, in my company, Fixed Asset Accountant used to be a one-function position, who was in charge of all company assets - monitoring, computing depreciation, accounting for etc. He sometimes even had a temporary staff(NYSC) etc as assistant. But with the adoption of an advanced ERP a couple of years ago, the whole process is just running few programmes, and you have your reports and figures, so much so that the function is now merged with other functions, and a single staff do that.

Ditto for payroll. The old, pre-ERP process of printing hundreds of payslips, distributing, etc is now a click job. In fact, in my company now, promotion/bonus/salary adjustment/ letters are no longer physically distributed. Just a click, and you have it.

All these have meant shrinking of functions, and of course, some laying off!

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