Suppose in an organization there are 3 different departments 'A', 'B' and 'C'. Each department has its own manager responsible for his/her employees. Manager of 'A' and 'B' departments recently allowed paid leaves to 2 sick employees on medical grounds and these leaves were approved by higher authority. The medical condition of these employees resulted due to a past health problem and top management had not communicated any defined leave policy for such cases. However, manager of 'C' department refused to give paid medical leaves to his subordinates on grounds that it was not company policy to do so.
It is a department in a company or government that looks after the finances, so dealing with things like revenue, expenditure, taxation etc.
the relation between purchasing and sales the relation between purchasing and finance
The finance department coordinates with other departments by providing financial data, analysis, and reports to support decision-making. They work closely with departments to set budgets, monitor expenses, and ensure compliance with financial policies and procedures. Effective communication and collaboration between the finance department and other departments are essential for the organization's financial success.
There is a direct relationship between the human resources and finance departments. Finances are used to run the human resource which is tasked with the role of ensuring that more revenue is generated into the company which makes the two departments interdependent.
Finance Department
Finance is the blood of the organisation & without proper arrangement in finance department no other department function properly. Thus finance is the base of any organisation to run the industry
Four departments within a business including the accounting department, finance department, production and shipping. All of these departments work together to keep the business going.
Finance is related to other departments because these departments need various cash flows to operate. The research department usually incurs some costs in order to carry out surveys and focus groups.
finance
Impotance of having good relationships between the finance department and logistics department
In a company, finance works with marketing, sales, manufacturing, logistics and accounting. Finance touches every aspect and department of the business. Anything that generates a cost will have a financial impact.
The officials and ministers at the department of Finance and the department of Public Expenditure and Reform, in conjunction with other ministers who try to keep their finances up in their departments. The Irish cabinet will make the final decisions at their meetings before the budget is launched by the Minister for Finance and the Minister for Public Expenditure and Reform.
Spreadsheets are for analysing and manipulating numbers and doing calculations on them, which is what financial departments need to do a lot of. A spreadsheet also has lots of specialised financial functions built into it, which can speed up the work of a finance department.