What are the interface between finance marketing and operation function?
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Finance and operation departments play critical roles in any business. Finance departments provide information necessary for the continued operations of a business. The operations department, on the other hand, runs day-to-day operations. Some organizations choose to combine the functions of the finance and operations department.
Role of Finance
Bookkeeping is one of the main roles of a finance department in any organization. Additionally, a finance department needs to keep track of sales and spending and produce yearly and quarterly statements. Financial departments need to also regularly update managers of other departments within an organization about the financial state of the business. Financial reports must remain accurate, verifiable and objective. Management relies on the income statement, which shows the company´s financial results, to calculate budgets. Moreover, the finance department needs to help the organization secure necessary funding and distribute profits in the form of dividends.
Duties of a Finance Manager
A finance manager oversees all money-related functions with a business, including the billing and accounting departments. Additionally, finance managers will typically monitor the mark-up of products and services to ensure the profitability of the company. The finance manager also reviews the budget and helps to make decisions about cuts and increases in spending. Further, finance managers prepare and interpret financial reports and help to forecast the company´s financial future.
Role of Finance
Bookkeeping is one of the main roles of a finance department in any organization. Additionally, a finance department needs to keep track of sales and spending and produce yearly and quarterly statements. Financial departments need to also regularly update managers of other departments within an organization about the financial state of the business. Financial reports must remain accurate, verifiable and objective. Management relies on the income statement, which shows the company´s financial results, to calculate budgets. Moreover, the finance department needs to help the organization secure necessary funding and distribute profits in the form of dividends.
Duties of a Finance Manager
A finance manager oversees all money-related functions with a business, including the billing and accounting departments. Additionally, finance managers will typically monitor the mark-up of products and services to ensure the profitability of the company. The finance manager also reviews the budget and helps to make decisions about cuts and increases in spending. Further, finance managers prepare and interpret financial reports and help to forecast the company´s financial future.
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