Chic Paints Ltd Essay

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5. The Accounting Function Department Structure The accountancy department is headed by Finance Director Dave Whistler – this includes 8 members of staff including Dave Whistler himself. He delegates many of the day-to-day responsibilities to the Chief Accountant Hazel Richmond. She in turn supervises the work of the accounts team, which includes three accounts clerks who run respectively the transaction accounting system on the general ledger, the accounts payable ledger and the accounts receivable ledger. She also oversees the work of the Costing Technician, Payroll Clerk and Personal Database Clerk. The payroll duties are handled in-house by the Payroll Clerk, Susie James. She runs the monthly payroll (for salaried staff) and the weekly payroll (for hourly staff). She also issues the forms required by HMRC. Key personnel on the accounting side of CPL include Finance Director Dave Whistler and Chief Accountant Hazel Richmond. Dave Whistler is the joint largest shareholder in the company, with a 25% stake. He has chief role is to plan and manage the financial strategy of the business – this includes a variety of significant responsibilities. This includes ensure the company maintains the right balance of debt and equity, that its capital investment programme is professionally appraised and that its working capital levels are minimised. He is also in charge of tax planning, maximising CPL’s credit rating, producing CPL’s annual company report, and serving as company secretary. As the superior to the Chief Accountant, Dave Whistler also oversees all accounting, finance, legal, IT and personnel issues. However it is the Chief Accountant Hazel Richmond who handles the day-to-day running of CPL’s accounts department. Her principal role is to supervise the work of the three accounts clerks (the accounts payable ledger and the accounts receivable ledger) as

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