Often it is mentioned that the accounting department is “the heart of an enterprise”. The real challenge however that it needs to accomplish is to function, apart from administratively, more creatively and thus constitute an important tool for decision-making. The objective is to not mechanically execute registrations and calculations, but to actively participate in the growth of the company.
The main activities of the accounting department could be summarized as follows:
- Creation of added value via effective utilisation of resources (financial or not).
- Satisfaction of legal interests of parties dealing with the company (shareholders, workers, suppliers, State, customers, third person).
- Analysis and interpretation of information for short-term or strategic decision-making.
- Preparation and notification of the financial results based on the accounting authorities (ΔΛΠ and Tax).
- Accounting Management of storage areas, production, reserves, expenses, consumables, sales and purchasing invoices in such a way so that, on one hand all required law processes are satisfied and on the other hand the information is presented in a convenient way for the company’s administration.
- Risk management and protection of the company’s assets.
- Cash Flow monitoring, control and management (domestic and foreign payments).
- Control and co-ordination of the company’s insurance cover (sales credit, fire safety etc) in collaboration with the insurance advisers.