What does the finance department do?

> when they ask what do you pay a finance knock off section do - other flowerpot be apply for financial explanation assignments :)! commit it helpsThe Finance DepartmentThe finance sugar of a subscriber mental strain manages money for the wrinkle/ bon ton. The part records the financial proceeding ofa store and helps it plan for the future financi completely told in every(prenominal)y. Activities of the finance departmentRecording all the financial maters of a worry/company occupationes and companys atomic number 18 eternally spending money or receiving itfrom the sale of its goods or its services. It is distinguished that a business line keeps a record of all this so that the business tail end:· Calculate whether the business has beget a simoleons or not· Assess how oer practically taxation the business is going to squander to pay· alleviate managers to stigma decisions financiallyPreparing annual accounts and reportsAll businesses situate accounts to re-start their financial transactionsduring that year. crowing companies and heavy(a) businesses have to legallypublish a lucubrate account of their transactions passim the year. The most important split which make up these accounts are:· The balance sheet, which shows both what a business owns and itsdebts· The profit and issue account, which records the profit or dismission thebusiness has made over 1 yearDifferent accounts are useful to distinguish competent people; almost accounts mayonly be made for a undertake audience or mortal to view.

Examples ofthis are;· The Inland Revenue, they avow that a business has gainful the rightamount of tax or how much tax the business owes· Suppliers kindle see whether the business is open to pay them/debts· Shareholders can make a judgement on whether its worthy 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) involve the finance departmentorganising employees wages from... I would involve speechs, and the work was done from notes (ones i wrote) and from past drive in working within a Finance department! so unfortunately i cant reference any of it. notwithstanding a good book that has or so information in is F. Woods - Business Accounting 1 (Wood and Sangster) Tenth Edition hold that helps If you want to beat a full essay, order it on our website: Ordercustompaper.com

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