Question

Explain the functions and accounts department

Answer 1

Answer:

hi

Explanation:

the accounting department is responsible for recording and reporting the cash flow transactions of a company. This department has some keys and roles and responsibilities, including accounts receivable, accounts payable , payroll , financial reporting and maintaining financial controls.

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Answer 2

Answer:

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The functions of Finance and accounts Department are as follows :-

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1.Estimating The financial Requirements :-

Various techniques of long range planning and budgeting are used for estimating the amount and types of funds required in business during a given period of time.

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2.Disposal of earnings :-

Administration of earning is important function of the finance department. It envolves decision relating to dividend policy, ploughing back of profits, creation of reserves.

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3.Management of Cash :-

Adequate amount of cash must be made available in business at all times to meet day to day expenses.

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4.Accounting :-

Accounting is the art of classifying, recording, analysing and interpreting business transactions.

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