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Finance Controller Roles & Funding Sources

   

Added on  2020-01-07

16 Pages3554 Words277 Views
BUSINESSRESOURCE
Finance Controller Roles & Funding Sources_1
TABLE OF CONTENTSINTRODUCTION......................................................................................................................3P1 Describe recruitment documentation in the recruitment process of new staff..................3P2/ Employability, personnel and communication skills for finance manager......................4P3 Describe the main physical and technological resources in Blue Inc...............................6M1 Howthe main physical and technological resources in Blue Inc can improve theperformance............................................................................................................................8M2 importance of Employability, personnel and communication skills for finance manager................................................................................................................................................8D1 How managing and controlling budget costs can improve performance.........................9TASK 2......................................................................................................................................9P5 Trading and profit and loss account..................................................................................9P6 calculate contribution and the breakeven point..............................................................11P7..........................................................................................................................................13CONCLUSION........................................................................................................................14REFERENCES.........................................................................................................................15
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INTRODUCTIONBusiness resources are of different types which include physical, human which helpsthe organization in achieving the objectives as well as targets. Blue Inc organization is theUK retailer and it is famous for providing women and men clothing. It is earning hugerevenue so it is now planning to expand its market in other areas. This report will talk aboutthe finance controller its roles and responsibilities which they are required to perform in theorganization. Further, it stresses on the sources of internal and external finance which needto be used to for the expanding function.P1 Describe recruitment documentation in the recruitment process of new staff J OB DESCRIPTION Grade: finance controller in Blue Inc. Level 4 Hours: 40 per week Reports to: Financial Controller Location: Blue Inc.Key Tasks and Responsibilities Coordination of relationships with internal and external suppliers of IT and bespokeapplications to the Finance department.To represent the Finance Department of Blue Inc and liaise with relevant externalorganisations as required (Chaffey and White, 2010).Drafting summary reports concerning key issues upper executives need to reviewPresenting accounting issues and results to executive committees and uppermanagementAssisting in the development of business financial processes and ensuring they areregularly maintained.Ensuring that the Union meets and complies with all its statutory reportingobligations and requirements financial, legal and professional (Thompson and Vander Walt, 2010).PERSON SPECIFICATION
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Experience of accountability for IT issues surrounding Finance Systems, for exampleas a system administrator.Accountabilities Responsible for the reconciliation of main operational bank accounton a monthly basis. Process staff expenses and credit card transactions, ProcessNominal, Sales & Purchase ledger transactions as required. Liaison with staff teammembers ensuring Finance and Sales force database records correlate. Reinforce andsupport financial processes out with the finance team (Bae, Rowley and Sohn, eds.,2012).P2/M1 Employability, personnel and communication skills for finance manager Personnel and employability skills Personal Attributes- Financial managers need a number of personal attributes to besuccessful on the job. Strong analytical skills are required, because financial managersmust be able to analyze an organization’s financial operations and make adjustmentsas necessary. They must be detail oriented and have excellent math skills to ensureaccuracy of financial reports. Strong communication skills are also important sofinancial managers can share information with other employees and executives in aclear, logical and accurate fashion (Montgomery ed., 2011).Interpersonal skills. Financial executives must collaborate with a wide range ofpeople from other executives and board members to investors and representativesfrom regulatory agencies. The best leaders are masters at navigating office politics,unequivocal in their convictions and public statements, and yet able to tailor theirinterpersonal approaches to suit the backgrounds and priorities of different individuals(Breton‐Miller and Miller, 2013).Communication SkillsEmployees must have strong communication skills, as they have to communicate withone another and with supervisors. Some employees working in customer service mustalso communicate directly with customers. Effective communication skills areimportant to ensure written emails are clear, documents are readable and speechduring presentation is clear and professional (Zikmund and et.al., 2013). Listeningskills are also crucial, as employees must listen to different approaches and ideas forprojects and assignments, especially when working as part of a team.Planning and Multitasking Skills
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