D.10 Structure of Accounting Department

275 An accountant can occupy any of the following positions within any organised firm, according to the degree of their qualifications and areas of expertise. In actual sense, the positions are best reserved for accountants, considering peculiar expertise and professionalism expected. Such positions include i) Internal Auditor ii) Chief Accountant iii) Budgeting Officer iv) Final Accounts Officer v) Treasurer vi) Management Accountant vii) Cost Accountant viii) Inventory Officer ix) Account Supervisors x) Account Clerks
Summary
This section has introduced the reader to the meaning of finance and the nature of the finance function in any organisation. You have also learned about the structure of the financial market made up of the money and capital markets. The functions and roles of the participants have been discussed. The functions and organisation of the Central bank, commercial banks, merchant bank, development bank microfinance bank as well as other non-bank institutions in the money market have been discussed. Deliberations on the accounting function concludes our discussions on organic business functions. The accounting function is responsible for the measurement and communication of the activities of the organisation in monetary terms. The Accounting department is organised along functional lines to include, record keeping, preparation of financial information, analysing financial information and record on same to the owners of the business. The financial function is strategically positioned to give an overview of the organisation. This was discussed along with the strategic roles of professional accountant in an organisation. The organisation of atypical accounting department was demonstrated in an organogram.

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