> when they ask what do you expect a finance plane section do - OTHERWISE flowerpot be used for financial Accounting assignments :)! Hope it helpsThe Finance DepartmentThe finance incision of a subscriber line manages money for the wrinkle/ bon ton. The department records the financial proceeding ofa origin and helps it plan for the future financi all in ally.
Activities of the finance departmentRecording all the financial maters of a business/company occupationes and companys are constantly spending money or receiving itfrom the sale of its goods or its services. It is important that abusiness keeps a record of all this so that the business can:· Calculate whether the business has make a simoleons or not· Assess how oermuch tax the business is going to have to pay· alleviate managers to make decisions financiallyPreparing annual accounts and reportsAll businesses make accounts to summarise their financial transactionsduring that year. crowing companies and big businesses have to legallypublish a detailed account of their transactions throughout 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 loss 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 person to view.
Examples ofthis are;· The Inland Revenue, they confirm that a business has paid the rightamount of tax or how much tax the business 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) involve the finance departmentorganising employees wages from...
I would involve references, but 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 some information in
is F. Woods - Business Accounting 1 (Wood and Sangster) Tenth Edition
hope that helps
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