Inkwell Accounting Department

Topics: Accounts receivable, Accounts payable, Accounting software Pages: 3 (616 words) Published: June 23, 2013
5. The Accounting Department

1. Inkwell has a small finance team. The accounting department is based in the head office of the company, which is located in Birmingham. There are 8 people in the finance team. Each member of the team has their own computer. The team has access to the internet using Firefox and two printers integrated to each computer.

2. Inkwell has one Financial Director, Anil Gupta. Anil’s main job is to manage the overall financial position of the business, ensuring capital investments and corporate strategy is properly dealt with. He has delegated the running of the accounts department to the company accountant.

3. Inkwell has one company accountant, Michael O’Payne who has been in charge of most financial affairs before Anil Gupta joined the company. The others in the financial team report to him.

4. The team consists of one accounts technician, one General Ledger and Inventory Clerk, one Accounts Payable Clerk, one Accounts Receivable Clerk, one Costing Technician and one Payroll and Personnel Database clerk.

5. The accounting department keep a close relationship with the shop staff. The main mode of communication is through email and phone calls, occasionally a member from the team will pay them an unexpected visit.

The Accounting Department- Key Internal Stakeholders

1. Anil Gupta, Financial Director, has the overall responsibility for all finance, legal and accounting procedures and systems. He produces annual reports and statutory accounts. Alongside this he deals with financial issues such as banking and also legal issues, such as contacts. Anil has 30% of the company’s shares when joined the directors in 2008.

2. Michael O’Payne, the Company Accountant, has been in the company since the set up of the company. His main duties include running the day to day responsibility of the accounts department. He also produces monthly management accounts and approves payments to suppliers. After...
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