Accounting Department Sinter Plant

Overview

Accounting Department Table of Organization

Managerial -2 Rank and File - 2 Total -5 Casual -3

BM TOLENTINO Division Manager

LL OPADA Department Manager

EA RATILLA Supervisor

MV GALVEZ Cashier

HT JUARIO Accountant

VAT Documentation Clerk Contractial Sinter Heat Recovery Project Accountant

Accounts Receivable Clerk Contractual

Accounting Department Sections

1.

GENERAL ACCOUNTING Accounts Receivable Accounts Payable General Ledger VAT Documentation General Accounting deals with the overall everyday operation and financial position of the company.

Accounting Department Sections

2. COST ACCOUNTING Budget and Cost Control Fixed Assets Inventories

Cost accounting deals with the manufacturing phase of the business. It is a method or technique for determining the cost of a process, project or thing through direct measurement, arbitrary assignment or systematic and rational allocation

Accounting Department Sections

3. Cashiering Cash Disbursement and Cash Receipts Cash Flow and Daily Cash Position Report

Accounting Department Functions

1. 2. 3. 4. 5. 6. 7. 8. 9.

10.

Administration of the Plant-wide accounting system Administration of the Plant-wide budget system Preparation of the Cost and Financial reports of the Sinter Plant Cashiering Accounts Payable Processing Accounts Receivable Management Handling of Plant-wide records of Fixed Assets Handling of Plant-wide records of Inventories Handling of national and local taxation in coordination with the head office Assist in External Audit

Accounting Department Calendar of Activities

ACTIVITY

TIMETABLE

Monthly Financial Closing of the books of accounts Monthly Cost Control Meeting Budget Preparation and Meetings 1st Half April to Sept 2nd Half Oct to Mar

Every 1st two weeks after calendar month-end 3rd or 4th Week after calendar month-end 1st Half March 2nd Half - September

Accounting Department Calendar of Activities

ACTIVITY

TIMETABLE

Interim External Financial Audit Annual External Financial Audit ISO Audit BIR Audit Special Audits

October for period ending September December to February of the following year Intermittent Scheduled No Fixed Date As necessary

Accounting Department Calendar of Activities

ACTIVITY

TIMETABLE

Annual Inventory Count - Warehouse Supplies

- Raw Materials
- Finished Goods

December for period ending November 1st working day after calendar end 1st working day after calendar end
Every three years.

Fixed Asset Inventory Count

Accounting Department Cost Reports

1. 2.

3.

4. 5. 6.

7.

8.

Cost of Goods Manufactured and Sold Production Cost for Sintered Ore, Burnt Lime and Hydrated Lime Operating Expense Reports for Sintering Operations, Yard and Berth Operations, Marine Operations, Other Service Cost, Power Supply, Water Supply and Burnt Lime Plant General and Administrative Expense Report Ship Loading Expense Report Schedule of Consumptions for Raw Materials, Power, Water, Other Service Cost and Fuel and Oil Schedule of Property, Plant and Equipment, Additions to Fixed Assets and Schedule of Construction in Progress Schedule of Total Departmental Expenses for the month and year-to-date.

Accounting Department Financial Reports

1. 2. 3. 4. 5. 6.

7.
8. 9. 10. 11.

Trial Balance Cash Flow Statement Bank Reconciliation Statement Schedule of Accounts Receivable Schedule of Inventories Schedule of Other Assets-Refundable Deposit Schedule of Accounts Payable Schedule of Accrued Expenses Schedule of Other Liabilities Schedule of Port Income Schedule of Miscellaneous Income **

End of Presentation