Exide technologies Canada is a company that was formed to deal with the manufacture of batteries. The company was registered in the year 1961 under Canadian company law. This gave it legal personality allowing it to transact its own business like any other natural person. Its promoters wrote the articles of association and memorandum of association to act as the constitution of the company. It was majorly brought into place to replace the Electric Storage Company.
The major objective of forming the company according to its memorandum of association was to manufacture lead-acid accumulators and other types of batteries. The supportive and minor objective clauses allowed it to transport and sell these batteries. It began with a single branch that is now the head office that was located in Canada. Later on, other branches were opened in Canada and other parts of the world to enhance the business. The shareholders also increased as it became a global company.
Like any other corporation, the Exide Company has shareholders as its major stakeholders. The company also serves the outside world and since it cannot implement its business activities alone and the shareholders are not in a position to do the business, strong management has been put in place. The seal of incorporation enables the managers to act on behalf of the company and they also come together in board meetings to discuss various management aspects of the company. To ensure that the shareholders are directly involved in the running of the company, they usually debate on some issues and take part in appointing the directors and other officials of the company.
The management of Exide Company is divided into three levels to effectively run the company. The highest level is the board of directors who are responsible for the strategic supervision of the company. The board decides on various strategic supervision aspects of the company such as making decisions on where new branches should be located. Under the board is the executive committee which is responsible for the strategic management of the company. The committee has a major role in fixing meeting dates and deciding where and when they should be held. The last level of management is divisional heads who are concerned with executive management issues that involve executive matters. For instance, decisions like who should head a given branch, when the shares of the company should be floated and the particular price fall under their jurisdiction.
This management team must act as per the articles of the company. Each branch of the company also has a manager who coordinates with the head office. Their powers are also regulated by the shareholders during general meetings. Thus, with this management structure in place, the company is able to achieve its major and minor objectives as required while also ensuring that there is transparency and accountability in running the company.
The company majorly deals in batteries. It manufactures lead-acid accumulators and other batteries at some of its branches which are then distributed to other branches where they are sold to customers. There are various types of batteries sold by the company depending on their functionality. The major three types are automotive, submarine, and industrial batteries. The major purpose of the Exide Company is to exploit the use of electrical energy in areas where there are no power lines.
Chartered Accountant in Ontario
Chartered accountants are professionals that are highly qualified in accounting. They have been required to haves completed degree programs in the relevant fields of accounting from recognized institutions. They also should have worked for a minimum of some years to gather the necessary experience. These accountants must be registered by the accountants’ registration bodies of their respective countries.
For one to get started in the chartered accountant field one must have attained the relevant education levels as mentioned above. Their degree program usually takes four years in which one is equipped with professional knowledge and ethics. Hence, to earn the title chartered accountant a minimum of two years experience in the working environment is required. Working as a chartered accountant comes with advantages. For instance, one is recognized globally and can work anywhere in the world unlike in other professions. The experience acquired during the working period helps them rise through the ranks in terms of position and salary at a faster rate than in other professions.
The practical experience that one must have before working as a chartered accountant helps them work in different departments of the accounting sector with no worries. One is guaranteed job security as very few accountants qualify as chartered accountants. There is a code of conduct in place to help the accountants carry out their activities in a professional way hence minimizing legal suits.
Generally, the disadvantage of accounting jobs is that a person is usually drained as the job entails a lot of details to be handled especially when there are many transactions to be accounted for. The profession also has a tough code of conduct which may land an accountant in jail if not properly followed. Accountants also tend to work for more hours and are paid less than their counterparts in other professions. In most organizations, a serene environment is provided to the accountants. At the KPMG for example, an individual working on a particular section is free to interact with other accountants in other departments and organizations. This boosts their experience and morale as they find answers to all their questions from each other. The daily activities of a chartered accountant may be tiresome but with great rewards in terms of experience and salaries. At times they may be forced to carry some work home thus affecting their family lives.
There are various entry levels of a chartered accountant. Some of them include a chief accountant and a general accountant. As either a chief accountant or a general accountant one can work for companies or various government departments although to advance in the accounting field, one must meet certain conditions. Experience and professional qualifications are two major factors that affect the ability of one to rise up the ranks in the accounting field. The more the number of years that one is in the working environment the better the chances they stand for promotion. Additional professional papers can also boost their chances of one to be promoted.
The biggest challenges that one faces as a chartered accountant are the legal suits that one may face while executing their tasks and the draining nature of the profession. However, most people enjoy working as accountants when they are good in mathematical aspects. In the accounting profession, duties tend to follow a particular cycle thus once one is used to the cycle they become so comfortable although they may find it monotonous with time.