Business placement dissertation
A finance assistant is an individual who is responsible for carrying out daily jobs or tasks within the financial department of the organization. The main duties which the finance assistant used to perform are making data entry within the system, updating of the financial records, preparing of the balance sheets as well as the processing of the invoices. In fact, their duties also involve in preparing the reports of cost analysis for other departments within the organization. However, this business placement dissertation is being carried out on the job description and the role played by the finance assistant in the Edlesborough store Ltd.
The aim of this business placement dissertation is to show how Edlesborough store Ltd defines the job description of a finance assistant within the organization and what roles must be played by the finance assistant in maintaining their finance and revenue department. The Edlesborough stores limited is the private active limited organization which is incorporated in the 14th July 2011. The organization conducts its business mostly on the retail sale of non-specialized stores like beverages, foods and predominating of tobacco. As the organizational accounts have been found to be last made up in 31st July 2018 and the upcoming is due on 30th April 2020 hence the organization needs a finance assistant to manage the organizational accounts.
The objectives for carrying out this business placement dissertation is to develop a proper job summary by clearly aligning the job description or role of the finance assistant to be hired by the Edlesborough store Ltd. It has been found that the accounts of Edlesborough store limited have been last made up in 31st July 2018 and therefore the next upcoming is due on 30th April 2020. So, Edlesborough store limited wants a good finance assistant who could be able to manage their financial operations and dealings as well as the financial regulations of other departments.
1.4 Research questions
The research questions for this proposed business placement dissertation are as follows:
- What will be the job purpose of the finance assistant for Edlesborough store Ltd?
- What are the primary duties and responsibilities to be played by the finance assistant within the organization?
- How finance assistant will help in managing the account transaction of Edlesborough store Ltd?
- What will be the job specifications of the finance assistant to be hired by Edlesborough store Ltd?
2. Literature review
2.1 Purpose of the job
The assistant director of finance of Edlesborough store limited conducts a job placement for achieving the complete success of the organization through appropriately supporting the execution of the financial activities as well as policies for the associations. As per Roster and End 2020, being the finance directorate member any post holder would assist the finance director for managing, financial reporting and recognizing the issues in the growth of the organization as needed. Therefore, any individual who would be applied for this position should adapt to the evolving environment by demonstrating the collaboration and autonomy required to improve the purpose of the organization.
2.2 Duties and responsibilities
According to Standard 2016, the finance assistant should be capable of performing a wide range of duties that consists of reviewing the divisional performance in comparison to the annual budget. The finance assistant must be aware of the latest trends, issues, and the necessary changes while operating the financial performance of Edlesborough store limited. Furthermore, the finance assistant must be capable enough in assisting the execution of the measurable metrics and yearly objectives of the organization. Other than this the candidate who will be applying for the post of finance assistant must be capable in supporting the long term budgetary plans and also the management of costs in alignment with the business strategies of Edlesborough store limited.
2.3 Job specifications
The candidate who will be interested and wanted to apply for the post of finance assistant in the Edlesborough store limited should possess a minimum of two years of experience in any of the finance department. He or she should be a self-motivated, organized and influencing a person to carry out all the work activities in the finance department of the organization (Chemmanur, Rajaiya, Tian and Yu, 2018). He or she should be good at making an effective decision at the time of complex situation within the organization. Apart from this, he or she should be capable to work as a part of the team and must be excellent in the IT techniques to carry out the financial data and making of the data-sheets.
3. Research methodology
For this proposed research study the quantitative analysis would be carried out in order to get the desired outcomes for this research study. Therefore, the collection of the data would be carried out by drawing an effective questionnaire pattern and also interviewing of the respondents or applicants who would be applied for the posts. The interview of the applicants would be carried out based on the selection process in terms of their merit.
The sampling of the data would be carried out based on the qualification and experience of the applicants for the job role. Both male and female candidates are equally invited to apply for the post of finance assistant for Edlesborough store limited. The organization has opened up a vacancy for around 50 candidates and within whom the desired candidate would be selected.
3.3 Data analysis
The data analysis would be carried out based on the qualifications the applicants possess along with the necessary skills and abilities that are required to be an effective finance assistant for Edlesborough store limited. The analysis would also be carried out based on the personal qualities the applicants possess and their decision-making capabilities and flexible working behaviour.
3.4 Ethical considerations
It has been found that the organization has faced several difficulties in conducting the job role for the finance assistant. Difficulties like setting up of the human resource department in preparing the job summary and defining of the particular specifications and the duties to be performed by the hired ones.
4. Discussions or findings
Analyzing the experiences and other abilities of the applicants the desired candidate would be selected based on their behavioural competencies and how they are capable of managing the financial accounting, reporting and supporting the entire administration.
It is to be concluded that in order to manage the finance department and carrying out the accounting transaction of the retail operations the Edlesborough store limited needs a good finance assistant who will be capable in supporting their entire finance department and improve the business operations.
Standard, A.A.A., 2016. Assistant Accountant/Trainee Accounting Technician/Accounts Clerk/Cashier/Finance Assistant/Purchase Ledger Clerk/Sales Ledger Clerk Duration Typically 15 to 18 months.
Roster, N.B. and End, T., 2020. The New Discoveries Montessori Academy Board of Directors meets the third Monday of each month at 5: 30 pm to discuss and direct the affairs of the school. Ideal Board composition consists of nine individuals: three parents; three teachers; and three community members. Ex-officio members include the Executive Director, Associate Director, and Administrative Assistant. The following table provides Board roles and affiliations.(19-20 school year). Policy, 10, p.19.
Chemmanur, T.J., Rajaiya, H., Tian, X. and Yu, Q., 2018. Trademarks in Entrepreneurial Finance. Available at SSRN 3183879.
De la Torre, A., Gozzi, J.C. and Schumukler, S.L., 2017. Innovative Experiences in Access to Finance: Market-Friendly Roles for the Visible Hand?. The World Bank.