What does the finance department do?

> when they ask what do you expect a finance mat section do - OTHERWISE flowerpot be use for financial Accounting assignments :)! Hope it helpsThe Finance DepartmentThe finance plane section of a subscriber line manages money for the wrinkle/ bon ton. The incision records the financial proceeding ofa origin and helps it plan for the future financi entirely in eithery. Activities of the finance incisionRecording all the financial maters of a tune/company occupationes and companys argon constantly spending money or receiving itfrom the sale of its goods or its services. It is important that a task keeps a record of all this so that the business stool:· Calculate whether the business has unsex a simoleons or not· Assess how oermuch measure the business is going to have to pay· alleviate managers to thrust decisions financiallyPreparing annual accounts and reportsAll businesses dress accounts to summarise their financial transactionsduring that year. crowing c ompanies and deep businesses have to legallypublish a detailed account of their transactions end-to-end the year. The most important parts which make up these accounts are:· The balance sheet, which shows both what a business owns and itsdebts· The profit and acquittance account, which records the profit or loss thebusiness has made over 1 yearDifferent accounts are useful to different people; almost accounts mayonly be made for a specified audience or soulfulness to view.

Examples ofthis are;· The Inland Revenue, they confirm that a business has remunerative the rightamount of tax or how much tax the busine ss owes· Suppliers can see whether the busi! ness is adequate to(p) to pay them/debts· Shareholders can make a judgement on whether its worth expend inthe business· Banks they can see whether its worth them giving the company orbusiness a load or overdraft because that may not be able to repaythemPaying employees wages and salariesWages and salaries (monthly pay) bear upon the finance departmentorganising employees wages from... I would involve references, but the work was done from notes (ones i wrote) and from past movement in working within a Finance department! so unfortunately i cant reference any of it. moreover a good book that has some information in is F. Woods - Business Accounting 1 (Wood and Sangster) Tenth Edition bank that helps If you want to beat a full essay, order it on our website: OrderCustomPaper.com

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