accounting department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.
Accounting assistants record and report ticketing accounting situations to the accountant they work with, verify deposits and prepare daily reports and income. They arrange authorised refund vouchers, maintain the returned check accounts and communicate with ticketing managers concerning about any issues with ticketing systems.
Competences and skills
40 ESCO relationsEssential knowledge 6 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
2 competencesdepreciation
The accounting method of dividing the value of an asset over its useful life for the allocation of cost per fiscal year and in parallel to decrease the value of the asset from the accounts of the company.
Cross-sector
4 competencesaccounting entries
The financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of the transaction.
accounting techniques
The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
bookkeeping regulations
The methods and regulations involved in the process of accurate bookkeeping.
tax legislation
Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
Essential skills and competences 14 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
2 competencesissue sales invoices
Prepare the invoice of goods sold or services provided, containing individual prices, the total charge, and the terms. Complete order processing for orders received via telephone, fax and internet and calculate the customer’s final bill.
perform business research
Search and collect information relevant for the development of businesses in different fields ranging from legal, accounting, finance, up to commercial matters.
Cross-sector
12 competencesallocate bills
Prepare and issue bills to clients and debtors taken from the accounts receivable of the financial statements. Disclose the amount to pay, the due date, taxing information, and additional details as necessary.
attach accounting certificates to accounting transactions
Collate and link documents such as invoices, contracts, and payment certificates in order to back up the transactions made in the accounting of the company.
check accounting records
Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
follow the statutory obligations
Understand, abide by, and apply the statutory obligations of the company in the daily performance of the job.
follow up accounts receivables
Revise the accounts receivables section in the financial statements in order to breakdown the financial rights that the company has over other entities. Take actions in order to close the accounts and collect the money.
identify accounting errors
Trace accounts, revise the accuracy of the records, and determine the faults in order to solve them.
maintain financial records
Keep track of and finalise all formal documents representing the financial transactions of a business or project.
manage corporate bank accounts
Have an overview of the bank accounts of the company, their different purposes, and manage them accordingly while keeping an eye on their balance, interest rates, and charges.
perform account allocation
Allocate transactions on an account by matching the total value, only a part of it or a group of transactions to the original invoice, and by posting financial information such as discounts, taxes or currency exchange differences.
prepare trial accounting balances
Ensure that all transactions are recorded in the books of the company and totalise all the debits and the credits of the accounts to find out balance in the accounts.
use accounting systems
Employ accounting systems for recording and managing the accounts, obligations, and rights that the company possesses. Utilise these systems for accounting operations, financial analysis, and preparation of financial statements.
use office systems
Make appropriate and timely use of office systems used in business facilities depending on the aim, whether for the collection of messages, client information storage, or agenda scheduling. It includes administration of systems such as customer relationship management, vendor management, storage, and voicemail systems.
Optional knowledge 6 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
1 competencecompany policies
The set of rules that govern the activity of a company.
Cross-sector
5 competencesbanking activities
The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.
consumer goods industry
The consumer goods industry refers to a concrete economic sector that produce and sell goods to consumers for they direct consumption, enjoyment or use. Industry that covers a wide range of activities whose target is the final consumption of products by households. It includes food production, clothing and leather, electronics, and household equipment, among other sectors.
financial statements
The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
labour legislation
Legislation, on a national or international level, that governs labour conditions in various fields between labour parties such as the government, employees, employers, and trade unions.
statistics
The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.
Optional skills and competences 14 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
1 competencemanage cash desk
Ensure compliance with company operating procedures and relevant legislation for cash desk activities. Apply the CCF policy and actively control debt management and recovery within agreed parameters.
Cross-sector
13 competencescalculate tax
Calculate the taxes which have to be paid by an individual or organisation, or paid back by a governmental institution, compliant with specific legislation.
disseminate information on tax legislation
Provide advise on the possible implications for companies or individuals on decisions regarding tax declaration based on tax legislation. Advise on the favourable tax strategies that could be followed depending on the needs of the client.
handle financial transactions
Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.
interpret financial statements
Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.
maintain register of shareholders
Keep a register of shareholders and monitoring changes in share ownership of the company.
maintain statutory books
Maintain updated the statutory books of the company with the relevant information of the directors and secretaries, the directors interests, and the register of shareholders.
manage accounts
Manage the accounts and financial activities of an organisation, supervising that all the documents are correctly maintained, that all the information and calculations are correct, and that proper decisions are being made.
manage payroll reports
Maintain personnel records as well as payroll reports. Record evaluations, promotions or disciplinary actions.
manage the general ledger
Enter data and revise the adequate maintenance of general ledgers in order to follow up on the financial transactions of the company, and other non routine transactions such as depreciation.
perform cost accounting activities
Execute the cost related activities and operations within the accounting activities such as standard cost development, average pricing analysis, margin and cost ratio analysis, inventory control, and variance analysis. Report the results to management and advise on possible courses of action to control and reduce the costs.
perform dunning activities
Send letters or make phone calls to methodically remind individuals about actions they are requested to take by a set deadline. Use a firmer tone as the due date approaches or passes. If there is an automated dunning process, make sure it runs properly.
prepare financial statements
Collect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
prepare tax returns forms
Totalise all the deductible tax collected during the quarter or fiscal year in order to fill tax return forms and claim it back to the governmental authorities for declaring taxation liability. Keep the documents and records supporting the transaction.