7 Departments that Manages the Finance of a Company. Article shared by : ADVERTISEMENTS: Some of the departments that manages the finance of a company are: (i) Accounting dept (ii) Cost accounts dept (iii) Audit dept (iv) Financial planning & budgeting dept (v) Cash department and (vi) Credit department.
What is included in finance department?
The roles and responsibilities of a finance department include but are not limited to:a. Bookkeeping. b. Management of companys cash flow. c. Budgets and forecasting. d. Advising and sourcing longer-term financing. e. Management of Taxes. f. Management of Companys Investments. g. Financial Reporting and analysis. h.
What are the divisions of finance?
Finance consists of three interrelated areas: (1) money and credit markets, which deals with the securities markets and financial institutions; (2) investments, which focuses on the decisions made by both individuals and institutional investors; and (3) financial management, which involves decisions made within the ...
What are the three types of finance?
The finance field includes three main subcategories: personal finance, corporate finance, and public (government) finance.
What is finance department in a company?
The finance department is also responsible for management of the organizations cashflow and ensuring there are enough funds available to meet the day-to-day payments. Where there are cash needs beyond the day to day working capital, the finance department is responsible for advising and sourcing longer term financing.
What are the responsibilities of finance department?
The most common function of the finance department comprises the documentation and the controlling of incoming and outgoing cash flows as well as the actual handling of the cash flows.
What is the role of a finance manager?
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Financial managers typically: Help management make financial decisions.