Finance is one of the Key departments Headed by Director Finance and closely supported by Manager Finance with a team of qualified professional Accountants. Finance Department deals with regulatory bodies, Government departments and corporations on behalf of the company. Finance department also maintain daily activities of Health and educational projects of the Institute some of the components of major activities are summarized as under.
Some of the key but not limited functions of Finance are as under
Finance section reviews the entire monetary activities of the Organization. Its major functions include but not limited to the following:
- Dealing statutory/regulatory matters of the company
- Have watch on the overall Financial health of the Company
- Arrangements of Financing for the company incase of need.
- Liaison with bank and Financial Institutes on behalf of the Organization.
- Documentation of Company AGMs
- Seeks and suggests opportunities for business expansion, investment and generating revenue
- Monitors and insures allocation and justification of company’s departmental budget
- Reporting to Management/Directors regarding the company financial position
- Coordination with ERP for customization and improvement of the electronic systems
- Preparation and presentation of Financial statements
- Dealing with Taxation authorities and other corporate bodies
- Maintenance of financial records of health and education sectors according to International standards of Accounts.
- Recording of account receivables and follow ups for timely collection
- Payments to vendors, suppliers, contractors and staff salaries.
- Maintaining record of staff benefits, health insurance and gratuity funds
- Dealing with parties for reconciliation of accounts
- Feedback and support in preparation of various packages,
- Checking and processing of patients bills
- Keeping record of fixed assets, its depreciation/amortization and movement of stocks in trade.
- Liaison with internal and external auditors.