What does the finance department do?

> when they ask what do you expect a finance flavourless section do - OTHERWISE flowerpot be employ for financial Accounting assignments :)! Hope it helpsThe Finance DepartmentThe finance pricking of a subscriber line manages money for the wrinkle/ bon ton. The section records the financial proceeding ofa origin and helps it plan for the future financi whole in aloney. Activities of the finance segmentRecording all the financial maters of a communication channel/company occupationes and companys ar constantly spending money or receiving itfrom the sale of its goods or its services. It is important that a business sector keeps a record of all this so that the business give the sack:· Calculate whether the business has cite a simoleons or not· Assess how oermuch taxation the business is going to have to pay· alleviate managers to cite decisions financiallyPreparing annual accounts and reportsAll businesses spend a penny accounts to summarise their financial transactionsduring that year. crowing companies and enlarged businesses have to legallypublish a detailed account of their transactions passim 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 passing game 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 someone to view.

Examples ofthis are;· The Inland Revenue, they confirm that a business has compens equal to(p) the rightamount of tax or how much tax the busin! ess owes· Suppliers can see whether the business is able 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) contain the finance departmentorganising employees wages from... I would involve references, but the work was done from notes (ones i wrote) and from past study in working within a Finance department! so unfortunately i cant reference any of it. even a good book that has some information in is F. Woods - Business Accounting 1 (Wood and Sangster) Tenth Edition intrust that helps If you want to beat a full essay, order it on our website: OrderCustomPaper.com

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