Finance Operations: A Practical Approach - Which Ensures Success – Where Passion Gets Translated into Measurable Performance

By Tariq Mehmood

In Finance Operations, author focuses on the processes and procedures that Finance Professionals must master to succeed. Learn how to:

Get, Management, Operations, Auditors and above all Finance Team at one page.

Improve communication with all those who come in contact.

Evaluate your effectiveness as a Finance Professional and improve areas of weakness.

Finance Professionals must also be analytical, self-disciplined, and patient, which the authorTariq Mehmoodlearned over more than forty years while being at work with some of worlds leading companies.

Mehmood also focuses on cross-checking risk factors, reinforcing checks and balances, and applying strategies to minimize and eliminate errors.

Whether you re an Management Executive, Financial Controller, Accounts Manager, Accountant or Accounts Assistant, youll learn ways to protect yourself, your company, and the customers you serve with practical approach of work in Finance Operations.

• Language: English
• Publisher: Partridge Publishing Singapore
• Release date: Jul 28, 2017
• ISBN: 9781543740301

Tariq Mehmood

Tariq Mehmood graduated from the Hailey College of Commerce, University of Punjab, Lahore, Pakistan. During his four decades of professional experience, he worked, mostly, with ALJ Toyota, Mobile Oil Corp., and E. A. Juffali & Bros. Siemens in Jeddah, Kingdom of Saudi Arabia. He retired as a Financial Controller and is a dedicated social worker, sportsman and toastmaster who remains passionate about Finance. With family, he resides in Jeddah, KSA.

Book preview

Copyright © 2017 by Tariq Mehmood.

ISBN:                 Hardcover                         978-1-5437-4233-6

                          Softcover                           978-1-5437-4232-9

                          eBook                                978-1-5437-4030-1

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

www.partridgepublishing.com/singapore

Contents

Dedicated

Preface

Within the Finance

Discipline

Punctuality

Communication

Relationships

Characteristics

360-Degree Evaluation

Who wins

Dimensions of one’s conduct &

Values

Principle

Mission

Vision

Self-Evaluation

Obliged to

Reason(s) of arrive i Office

Use of Company’s time

Conflict Resolution

Job Distribution

Don’t put off till tomorrow

Well begun, 1/2 Done

Payment Control Sheet

Payment Request Submitted to Finance

Objectives

Payments

Classification

Categories

Mode

Terms

Impact of Technological Advancements

Cross Check and Cross Reference

Don’t Run after Shadows

Why, Operations must submit

Prior and After

Floats – Advances

Permanent

Temporary

Business Travel Advance

Forms

Common and Specific

List of Forms

Archive

Audit

How to Deal with Auditors

How to interact with Auditors

Physical Stock Taking

Budget

Preparing and Spending of the Budget

Preparation

Methods

Spending of Budget

Transfer of Fixed Assets

Retrieve Asset Being Replaced

Retrieval

Concepts

Objective, not Subjective

Inter-, Intra-Companies, or Related Parties

Inter, Intra Companies – Related Parties

ESM = Entire Stock Movement

Entire Stock Statement

Finance for Non-Finance Professionals

Role of Finance

Acquisition of Fixed Assets

Insurance

Collection of Receivables

Signing of New and Renewal of Contract

Contracts

Documents for Sales Recognition

Revalidation of Policies

Security and Safety

Meetings

Axes of Coordination between Finance and Other Departments

Axis of Cooperation

Terminologies

Difference between Accruals and Provisions

Methods

Methods

Costing

Depreciation

Methods

Costing

Depreciation

Practices

Liaison

Man Power

Abbreviations

Clarification

Abbreviations Used in This Book

Paper-Less Organization

Observations

Writings on the Wall

Realities Expressed through Jokes

Assignments

Entertaining Guests

Trainees

Conclusion

Every boss has a boss, except Allah, the Almighty

Dedicated to my

Parents who, in all walks of my life, continue to be prime and invaluable source of guidance.

Wives, son, and his family who remained patient even I stayed busy for work after office hours.

Colleagues without their sincere support I won’t have succeeded to accomplish task on timely basis and to keep quality as an ever-improving element of work.

Managers