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Accounting Department Structure
24 Minute Accounting

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Module 1 | 24 minute Accounting | |
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Unit 1 | 24 Minute Accounting Pretest | |
Unit 2 | 24 minute Accounting Course Overview | |
Unit 3 | Accounting Department Structure | |
Unit 4 | Which Accounting System to Use? | |
Unit 5 | Accounting Concepts | |
Unit 6 | Double Entry Principle | |
Unit 7 | Accounting Cycle | |
Unit 8 | Chart of Accounts | |
Unit 9 | Recognition of Revenue | |
Unit 10 | Accounting for Inventories | |
Unit 11 | Accounting for Fixed Assets | |
Unit 12 | Income Statement | |
Unit 13 | Balance Sheet | |
Unit 14 | Auditing for your Business | |
Unit 15 | 24 minute Accounting Posttest |
Survey Questions
Hi, in this video you will learn about the organisational structure of a typical Accounting Department.
The Accounting Department is an integral department of any business or organization.
With a proper structure in place, everyone within the department would have a set of roles & duties that are under their responsibility. In smaller companies all the below functions could be handled by one person
A typical Accounting Department can be structured around the following functions:
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CFO or Chief Financial Officer –is responsible for the financial planning, record-keeping, as well as financial reporting to higher management. The CFO is also referred to as “the right hand of the CEO”.
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Chief Accountant – The Chief Accountant has many duties & responsibilities, namely managing his accounting team, and generating financial statements.
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Management accountants are risk managers, budgeters, planners, strategists and decision makers. They do the work that helps the company's owner, manager or board of directors make better decisions. They are also responsible for cost accounting functions in organizations that manufacture products.
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Payroll & Fixed Assets Accountants looks after the processing of all the organization’s payroll, paying taxes on salaries, deductions for pensions, social security subscriptions etc. Depending on the size of the department, they could also be responsible for managing & registering the organization’s fixed assets.
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Accounts Payable (AP) Officer responsible for managing the accounts payable for the company. They reconcile suppliers’ statements, verify that Purchase Orders are available, and prepare the payments for the suppliers.
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Accounts Receivable (AR) Officer responsible for managing the debtors (or accounts receivables) of the organization. They invoice their customers and follow up for payment. Their role is very important, as the quicker invoices are settled, the healthier the company will be, as there would be more funds to use in the operations.
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Assistant Accountants –generally looks after petty cash, deposits daily cash and cheque collections, as well as processing other journal entries.