Railway Accounts Department Examinations

Showing posts with label functions of accounts dept. Show all posts
Showing posts with label functions of accounts dept. Show all posts

Sunday, July 28, 2019

Functions of Accounts Department



Functions of Accounts Department
( First Para of First chapter of Accounts Code Volume 1 - 101- A  )

1.       Maintain/ Keeping the Railway Accounts as per prescribed rules. (General Books such as Daily Cash Book, Monthly Cash Book, Journal and Ledger)

2.       Preparation various periodical accounts such as Account Current, Appropriation Accounts, Profit & Loss Account, Balance Sheet etc

3.       Internal Check : Check of all receipts and expenditure of railway with reference to rules/orders.

4.       Prompt settlement of proper claims against the railway. (payments thereof is arranged by drawing the cheques on Banks)  That is without delay, settle the claims in reasonable time. Also ensures the claims should be proper (not fake/duplicate).  

5.       The primary responsibility for the allocation of all receipts and payments rests with the concerned departmental officers. Each bill or voucher received from them should show the correct allocation of the receipt/expenditure in the fullest detail. The Accounts Department is responsible for seeing, to the extent it is possible for them to do so, that the allocation shown on the initial document is not prima facie incorrect.  (217-A)

6.        Compilation of Budget  in consultation with other depts(however preparation of budget lies with executive depts only), Monitoring the budget during the year and Budgetary reviews.

7.       Tendering/Advice to the administration whenever required or necessary in all matters involving railway finance.

8.       Management accounting functions - A) Providing financial data for management reporting B) participation in purchase/contracting decisions (as Member in Tender Committees)

9.       Seeing that there are no financial irregularities in the transactions of the Railway.
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