I think organisation is an family and finance department is the family member like an father which mobilise the funds from the market and deploy it in the organisation according to the requirement afterassessing the report presented by the managers of other departments. one of the most important responsibility of the finance department is to keep control over the use of funds in the organisation i.e. the funds are using according to the planing and accord with the organisational objectives. I AM MONICA DHEKALE STUDENT OF M.B.A. OMEGAN SCHOOL OF BUSINESS, AURANGABAD WHICH IS AFFILIATED TO ICFAI UNIVERSITY.
wiener...
You are a controller of each and every activity in the organization. This is your strength.
Finance department plays significance role in any organisation whether it is profit making organisation or non-profit making organization. The work of finance department is to use the organisation resources in the efficient and effective way otherwise wastage can be dangerous. Actually finance department look for sources of fund and its best utilization, it allots the fund to different department like marketing, production, and R&D depending upon their need and requirement. Excess allotment of fund to any department can cause wastage. Beside that it also look whether the fund is utilizing in the best possible way or not for getting result for the organisation.
Hierarchy of finance department
what are the main activities involved in the finance department
wiener...
A finance manager is responsible for everyone in the finance department. They are also responsible for creating budgets for the organization.
You are a controller of each and every activity in the organization. This is your strength.
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.
Most of the conflicts which arise between finance and marketing include budget allocations. The marketing department may have a good plan and a budget but the finance department will downplay the idea and allocate less money.
Finance department plays significance role in any organisation whether it is profit making organisation or non-profit making organization. The work of finance department is to use the organisation resources in the efficient and effective way otherwise wastage can be dangerous. Actually finance department look for sources of fund and its best utilization, it allots the fund to different department like marketing, production, and R&D depending upon their need and requirement. Excess allotment of fund to any department can cause wastage. Beside that it also look whether the fund is utilizing in the best possible way or not for getting result for the organisation.
Hierarchy of finance department
what are the main activities involved in the finance department
Following are the main departments in any organization:L 1. Finance and accounts 2. Marketing and Sales 3. Human resource and administration 4. Technical / Operations Other departments depend on the size of the organization, like 1. Logistics 2. Procurement 3. Treasury department- sub dept of finance and accounts
Department of Finance - Ireland - was created in 1919.
Department of Finance - Philippines - was created in 1897.
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.