What are the activities of the finance department?
what are the main activities involved in the finance department
The role of the finance department in a company depends a lot on the size of the company. At the very least, the finance department will take care of the day to day transactions of the company through basic bookkeeping. In larger companies, the finance department may assist department managers in making strategic decisions and prepare forecasts for calculating ongoing cash needs.
To handle the financial affairs of the company The Ministry of Finance is responsible for the financial functions and activities of the Board and management of financial policy of the Office. the various function done by finance department is:- Budget preparation Budget administration Cost allocation Accounts payable Payroll Fringe benefits Grants administration Monitoring service providers Technical assistance to service providers Contract administration Billing
Financing is nothing but a complete process or department who works for providing loan or financing aid. Normally in Islamic banking Financing is the preferred word for loan and related activities such as loan origination, disbursement and repayment/Collection. Finance means the department or process which maintain accounts /book keeping cash /Fund management and anything related to financial position of the organization.
Finance manager is a person who deals with the finance decision of an organization.his responsibilities are decision on providing finance,keep check on finance activities. while marketing manager is responsible for marketing the organizations product,services to attract customers. Finance manager is a person who deals with the finance decision of an organization.his responsibilities are decision on providing finance,keep check on finance activities. while marketing manager is responsible for marketing the organizations product,services to attract customers. Finance…
commerce relates to the trade activities, exchange of commodities etc while finance deals with budgeting, accounting,bookkeeping etc finance is a subject in commerce. commerce is business,marketing,accounting,controlling these activities while finance is focussed function related to inflows n outflows
The answer to this is no, the finance department in hospitals are essential. Hospitals, whether non profit or for profit organizations, must from an economic viewpoint, need to finance all aspects of their organization. This includes raising funds to buy new medical equipment to properly compensating the medical & support staffs. The finance department in hospitals works with banks and the government to fund the requirements of proper healthcare.