Finance & Accounts Division

ORGANISATIONAL CHART FOR THE FINANCE AND ACCOUNTS DIVISION



OBJECTIVES OF DIVISION

  • Control all aspects of financial and accounts management of LKIM so that it always proceeds smoothly according to the regulations set by the Board Members and the Government with the aim to gain maximum returns.
  • Ensure all financial transactions are correctly and thoroughly accounted in line with the generally accepted practices and principles of accounting.

CLIENT CHARTER OF DIVISION

  • Supervise and monitor steps to ensure all management expenditure for the current year does not exceed the allocations and shortfall of less than 5% from the approved allocations.
  • Provide LKIM account statement draft for the current year and present it to the Corporate Planning Division to be conveyed to the Ministry of Agriculture before 15 January of the following year.
  • Produce LKIM Final Accounts Statement for the financial year ending 31 December of every year to the Auditor General before 30 April of the following year.
  • Produce an audited Account Statement with an audit certificate to the Corporate Planning Department within seven days from the receipt date of the Audit Certificate for the yearly report preparations that is required to be presented in the Cabinet Meeting.
  • Settle payments to product suppliers and service providers within one week to successful contractors and two weeks to the unsuccessful.
  • Ensure all bills received from external parties be paid within seven working days from receipt date and LKIM personnel claims paid within 14 working days from date of receipt provided all received documents are completed.
  • Ensure all money received is issued an Official Receipt immediately.
  • Ensure all cash surplus are given maximum returns on investments executed.
  • Produce Annual Division Reports ending 31 December of each year to the Corporate and planning Department before 15 February of the following year.
  • Produce a Division Permanent Asset Verification Report to the Administration and Human Resource Department before 31 January of the following year.

DUTIES OF THE FINANCE SECTION

Budget Unit

  • Handle aspects of managed money yearly budget preparations and internal resources of LKIM, allocation control through vot control as well as performance reports on expenditure and allocations to the managing party and central agencies.

Acquisition Unit

  • Manage acquisitions efficiently, effectively and in the most profitable way to achieve the acquisition aim.
  • Acquire the best and profitable price while taking into account the quality, quantity and duration set for surrender/completion.
  • Encourage growth of local industries and usage of local resources/materials
  • Develop, expand and transfer technologies suitable with the current requirement of the industrial sector of the nation.

Credit Management Unit

  • Manage grant and control affairs of credit facilities to LKIM clients as well as ensuring all credit can be resolved within the set duration in line with the LKIM Credit Management Policy.
  • Control and monitor implementation of Fishermen’s Fund and Fishermen’s Economic Development Fund.
  • Review position of doubtful/obsolete debts of LKIM from time to time as well as taking suitable actions to gain solutions.

General Administration Unit

  • Conduct office administration works in terms of front-end affairs pertaining to clients, correspondence, safe deposit of file and documents.
  • Manage collection of monies and issuance of the LKIM Official Receipt.
  • Create and manage airline ticket reservations for officers and personnel of LKIM.
  • Ensure the adequacy and security of assets/inventories

ACCOUNTS SECTION

  • Prepare LKIM’s Unified Financial Statement Draft for the Financial Year to be presented to the Ministry of Agriculture and Agro-based Industry before the 15 January of the following year.
  • Prepare a Consolidated LKIM Financial Statement for the Financial Year to be presented to the National Audit Department the latest by 30 April the following year.
  • Ensure Individual Financial Statements are prepared in line with the finance regulations and within the stipulated date.
  • Control all allocations in terms of payment and receipt in line with the activities under the Malaysia Five Year Plan.
  • Ensure the accounts unit run smoothly in line with the LKIM financial procedures at all times.
  • Ensure all accounting documents and records are kept in order in line with the LKIM Financial procedures at all times.

Contact Us:
Finance and Accounts Division
Lembaga Kemajuan Ikan Malaysia,
Level G, Wisma LKIM, Jalan Desaria,
Pulau Meranti, 47120 Puchong,
Selangor.
Tel: 03-80649000
Fax:03-80600587