If the old saying, money makes the world go around, is true, then the Finance Department are the caretakers of that singular ingredient which powers the motion of a company.
Among the CGC group of companies, the finance department of any one company may include some or all of the functions mentioned below:
Financial Accounting: this is where every single transaction that has a financial impact, no matter how big or small, and that takes place within the company, is recorded. This is also where rules and regulations regarding the execution of these transactions are safeguarded, ensuring that all transactions have the requisite authorizations and comply with the company's procedures. This is where all payments are effected and all collections are remitted or recorded. This is also where the company interim and annual financial statements are prepared and subsequently issued after the required audit takes place.
Management Accounting: for budgeting and budgetary controls, for forecasts and analyses, for trends and ratios and for customized management reports and the like, this is the place to be. Management accountants pick up where the financial accountant leaves off. They are the nerve center for financial analysis and management reporting, continuously monitoring for identifiable trends, be they positive or negative. In many regards, they are akin to an early warning system that leaves you with adequate room to navigate clear of dangers or to benefit from favorable winds.
Treasury and Investments: the cash management nerve center of any organization. Wise financial policy dictates that a company should never be too liquid, under investing idle cash reserves, just as it should not be short on liquidity resulting in being over leveraged. This is the world of the Treasury and Investments Section, to properly plan the availability and utilization of funds often times having to anticipate market conditions and Top Management's likely moves.
Warehousing: with local stores for each project site and with three central warehouses in different locations, warehousing is a major task in the company.
Please click the links below to acquaint yourself with the finance department for the country of operation of your choice within the CGC group of companies:
- Kuwait
- Qatar
- Oman (soon)
- UAE (soon)
- KSA (soon)