explain the functions of finance and account department
Answers
Answered by
13
Explanation:
Roles and Responsibilities of a Finance Department
a. Bookkeeping. ...
b. Management of company's cash flow. ...
c. Budgets and forecasting. ...
d. Advising and sourcing longer-term financing. ...
e. Management of Taxes. ...
f. Management of Company's Investments. ...
g. Financial Reporting and analysis. ...
h. Assist managers in making key strategic decisions.
Answered by
3
Key Roles of the Accounting Department?
While some people may have a differing opinion, the essential roles and duties of virtually any accounting department should include the following:
Money out – making payments and keeping the bills paid
Money in – processing incoming payments
Payroll – make sure everyone gets paid (including the government)
Reporting – preparing financial reports, e.g. P&L, Balance sheets and budgets
Financial Controls – to avoid errors, fraud and theft
For Finance You can Take any points this answer is for five marks
Fixed Capital Requirements: In order to start business, funds are required to purchase fixed assets like land and building, plant and machinery, and furniture and fixures. This is known as fixed capital requirement of an enterprise.
Working Capital Requirements: The financial requirements of an enterprise do not end with the procurement of fixed assets. No matter how small or large business, it need funds for its day-to-day operations. This is known as working capital of an enterprise which is used for holding current assets like stock, bill receivable, current expenses etc. Therefore, a business needs funds to meet its fixed as well as working capital requirem
Choose your points
While some people may have a differing opinion, the essential roles and duties of virtually any accounting department should include the following:
Money out – making payments and keeping the bills paid
Money in – processing incoming payments
Payroll – make sure everyone gets paid (including the government)
Reporting – preparing financial reports, e.g. P&L, Balance sheets and budgets
Financial Controls – to avoid errors, fraud and theft
For Finance You can Take any points this answer is for five marks
Fixed Capital Requirements: In order to start business, funds are required to purchase fixed assets like land and building, plant and machinery, and furniture and fixures. This is known as fixed capital requirement of an enterprise.
Working Capital Requirements: The financial requirements of an enterprise do not end with the procurement of fixed assets. No matter how small or large business, it need funds for its day-to-day operations. This is known as working capital of an enterprise which is used for holding current assets like stock, bill receivable, current expenses etc. Therefore, a business needs funds to meet its fixed as well as working capital requirem
Choose your points
Similar questions