Assignment 5007 Financial Control

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Assignment 5007 – Financial Control Aerocan UK is part of the Aerocan group. We manufacture aluminium cans primarily for the cosmetics industry for large companies including Unilever and Coty. I am the planning and materials manager, which makes me responsible for all raw materials coming into the plant and planning of customer orders and future demand. As Aerocan UK is part of a larger group not all of our accounting functions are completed on site here in the UK – the main purse strings reside in Brussels at our head office. All functions within the organisation here in the UK are driven by the plants Annual Budget/Forecast – this forecast is generated by the Board and senior management team. The forecast then drives the production targets for the year – which then in turn generate the forecasts for raw materials requirement and resources. As the UK division we do operate very much like a separate company with our own financial department responsible for paying suppliers, and ensuring our customers pay on time – it can get a bit more complex with other payments – as we also receive payments for other plants production and vice versa at times. Another factor to consider is that of spending/investment this decision is not taken without the direct approval of the board and RFA’s being raised accordingly to support the request for investment. Other than that the relationship between our financial and other functions are quite standard – How my responsibilities relate to our financial controls is detailed below: Currently we use one primary system within the company to process everything – this is an ERP (Enterprise Resource Planning) known as SAP . This enables us to track everything at every single stage as it is seamlessly integrated with all of our operations. If anything else needs analysing then Microsoft Excel is used to perform that function in

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