This department manages our accounting services as well as the collection of revenues. The Department of Finance and Accounting also promotes our economic health by providing leadership in the development and execution of sound fiscal policies.
The Financial and Accounting Department provides all ship performance information and accounting through highly experienced and qualified personnel. This allows ship owners to monitor ship operations and maintain ultimate control. This is achieved through an in-house group of operating systems, financial and management accounting systems, that cover all aspects of vessels' operation and proper accounting of their performance, and revenue management. The Financial and Accounting Department has overseen the conceptual development and implementation of the company's highly regarded revenue-management systems and procedures. The department follows internationally recognized accounting standards (US GAAP, IFRS) and takes much pride in maintaining its excellent name in the industry.
In addition to the above, the department is responsible for the overall management of our financial affairs, such as to negotiate and co-ordinate budgets in respect of our administrative costs and the funding of the various services we provide. Also, the department administers funds in compliance with all required accounting and financial procedures.