ACCOUNTNG/FNANCAL SYSTEMS

DESGN/FRAMEWORK
PREPARED BY
ELAYELAGHA, ALFRED EBMOTM
(ACCOUNTS MANAGER)
< A BUDGET S STATEMENT OF
EXPECTED REVENUE AND COSTS
EXPRESSED N QUANTTATVE TERMS,
and
< THE BEDROCK OF THE BUDGETNG
SYSTEM S PROVDED BY THE
ACCOUNTNG/FNANCAL
NFORMATON SYSTEM in every
organization.
< PREPARATON OF ACCOUNTNG/FNANCAL
POLCY/MANUAL WTH TOP MANAGEMENT
APPROVAL
< NSTALLATON OF COMPREHENSVE
ACCOUNTNG (USER FRENDLY SOFTWARE)
< TRANNG OF ACCOUNTNG /STAFF TO
UNDERSTAND NEW PROCESS
< NSTALLATON OF NTERNAL COST CONTROL
MECHANSMS/AUDT
< TO ENSURE THAT WE DELVER AND GAN
VALUE FOR MONEY, ALL CONTRACTS
/SUPPLES MUST MEET MANAGEMENT'S DUE
PROCESS CRTERA FROM NTATON TO
COMPLETON ie ensuring that out contractual
commitments to all stakeholders must pass
NDUSTRY BENCHMARKS.
< PREPARATON OF BUDGETS FOR ALL LEVELS
OF EXPENDTURE
< SETTNG OF AUTHORSATON /APPROVAL
LMTS FOR ALL LEVEL OF EXPENDTURE
< MONTORNG OF ACTUAL EXPENSES AS
AGANST BUDGETED EXPENSES
< REVEW AND CONTROL OF VARANCES
< REVEW OF EXPENDTURE/COST PROFLE
< MAKNG SURE THAT THE NTERNAL
CONTROL/AUDT DEPARTMENT S FULLY
EMPOWERED TO MEET OUR COMPANY'S
STRATEGC FNANCAL/NON FNANCAL
GOALS AND OBJECTVES.
< ENSURNG THAT ONLY
< WHOLLY
< NECESSARY
< REASONABLE
expenses/expenditure is approved by
management.
"NO UNBUDGETED EXPENDTURE OR COST
SHOULD BE NCURRED AT ALL LEVELS
< PROFT AND LOSS ACCOUNTS
< BALANCE SHEET
< CASH FLOW STATEMENT
< So as to enable management review our financial
performance periodically.
< THE ACCOUNTNG SYSTEM S TO ENABLE
GENERATE THE ABOVE, AND HELP US WORK
ON OUR FNANCAL METRCS to achieve our
Corporate Goals and meet stakeholder
Expectations.
< Training and Retraining of all categories of STAFF
to understand and imbibe the CULTURE OF
PRUDENCE AND VALUE FOR MONEY.
< BULDNG A CULTURE OF COST
CONSCOUSNES THROUGHOUT THE
ORGANZATON
< THS SHALL HELP N BULDNG A PROCESS
DRVEN VALUE ADDED MECHANSM FOR OUR
ORGANZATON
< LKE THE SAYNG GOES: " TO
SDES TO EVERY CON
< WHLE CUTTNG AND
MANAGNG COSTS, WE MUST
ALSO ENSURE MEANS AND
WAYS OF GROWNG OUR
REVENUE
<THANK YOU SR,
T'S BEEN A
PRVLEGDE!