Finance Department

Finance department in an organization which responsibility for organizing the financial and accounting affairs. Finance department oversees finance planning and management activities including budgeting and forecasting, reporting and compliance, and creation of value and meet compliance obligations.Finance are ensuring that there are adequate funds available to acquire the resources needed to help the organization achieve its objectives, ensuring the costs are controlled and ensuring adequate cash flow. Procurements and payments are subject to NIBM’s Policies and Procedures as well as Treasury Circulars. 


Finance:

1.
The activities from a finance department cover a wide range from basic bookkeeping to providing information to assisting managers in making strategic decisions. 
2.
Finance department will be responsible for all the day to day transactional accounting for the business. 
3.
The finance department is also responsible for management of the organization’s cash flow and ensuring there are enough funds available to meet the day to day payments.
4.
Finance department is contributing to the management and improvement of the operations by measuring and reporting regularly on key numbers crucial to the success of the organization.
5.
Finance department will work with managers to prepare the organization’s budgets and forecasts, and to report back on the progress against these throughout the year.  This information can be used to plan staffing levels, asset purchases and expansions and cash needs, before they become necessary. 

Purchasing:
Purchasing activities including of:

 1. Procuring Materials

a)
One role of the purchasing department is to procure all necessary materials needed for production or daily operation of the company or government
b)
The purchasing department makes sure there is always sufficient product on the shelves or in the store for continuously activity of R&D and keep the store well-stocked. It is especially important to keep inventory ordering at a reasonable level.
c)
Purchasing also oversees all of the vendors that supply a company with the items it needs to operate properly.


2. Policy Compliance

a)

The purchasing department also must ensure that it is complying with all company policies. For example, individual staff members may communicate with the purchasing department about purchasing needs for things such as office supplies or computers. Before making a purchase, the purchasing department must ensure that it heeds the proper protocols for purchase and budget approval and must ensure that any items are purchased in accordance with the overall purchasing policy of the organization.


for further information please contact:

1. Rosnah Ishak - PIC (Finance Executive)
2. Nooraiza Ahmad  Kamal (Finance Executive)

Malaysia Genome Institute (MGI)
National Institute of Biotechnology Malaysia (NIBM)
Jalan Bangi,
43000 Kajang,
Selangor Darul Ehsan, MALAYSIA

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