General Accounting

[Audio] General Accounting Strategic Planning 2025 General Accounting, Strategic Planning 2025.

[Audio] Table of contents Introduction Updates, Challenges and Objectives Key Ideas and Strategies for 2025 Financial Target Table of content. 01 Introduction, 2 updates, challenges and objectives, 3 key ideas and strategies for 2025, 4 financial target.

[Audio] Introduction. Introduction. 01.

[Audio] Introduction General Accounting The General Accounting department is responsible for managing and overseeing the company's financial records and transactions. Our primary functions include: Financial Recordkeeping, Preparation of Financial Statements, Reconciliation, Compliance, Tax Filing and Reporting, Cost Management and Financial Analysis..

[Audio] Updates, Challenges and Objectives Accounting Tasks Challenges Objective Prepare Accurate and Automated Financial Reports thru Odoo. Provide updated cost in costing of new items. New template prepared. Late submission of documents caused delay. Other reports required manual journal since the system is not yet fully utilized. Manual update of cost is tedious and time consuming since only 1 personnel is in-charge. To provide automated Financial Reports to the management on time. To provide updated cost based on current value to achieve a healthy profit margin..

[Audio] 3. Study of Standard vs. Actual Costing 3. Timing and availability of the study. Limited manpower to expedite the actual process study. 3. To analyze and identify the areas of inefficiency, control costs and to help in management decisions by analyzing variances; it acts as a benchmark to measure performance and pinpoint areas for improvement within operations..

[Audio] Key ideas and Strategies in 2025 Inventory tracking (PJC) Sales invoicing in Odoo Inventory module in Odoo on a trial stage, to utilize the system and to get book record to reconcile discrepancies as basis against physical count. To gather fast and accurate data entry to provide automated report in receivables. Target monitoring Tax Planning Monitor target given by the management to manage the cost efficientlly, to identify the areas for improvement, and to maximize profit. Provide timeline for the annual tax reporting to avoid delays and penalty. Taxes returns such as VAT, Expanded Withholding, Compensation, Income tax and its list need to comply monthly..

[Audio] Management Target for 2025 2025 Target % 2024 Achieved % Salaries&Wages, DL 8-10% 13.6% Utilities (Electricity, Metered Gas, Water) 2-3% 4.3% Repair & Maintence (PM Repairs) .02% .05% Wastages & Spoilage (maximum) .01% .02% Freight Charges .01% .02% Diesel & Gasoline .05% .07% Inventory Discrepancies 0% Yield Recoveries 98-99%.

[Audio] .

[Audio] Thanks!. Thanks!.