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All departments and their activities results in one thing: profit (or lack thereof). Everything any department does has an affect on the bottom line. Every single thing a person in each department does affects it (no matter how minor). In that respect, accounting's purpose is to track all of that, translate it into revenue or expense, and report out to stakeholders and managers. These reports then get consolidated and determine the company's profit/loss and its share value.
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What is the relationship between human resource department and accounting department?
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What is the relationship between sales department and other departments?
if i would have known i could have written in my exam
What is the difference between branch and department accounting?
A branch is a unit and a department is the sub unit in an organization. when we talk in terms of a branch we mean the accounting methodologies in respect of the unit consisting of all the departments working under it.
What is the relationship between marketing and other departments?
The marketing department must rely on the other departments to develop their strategies for how they market the products. If the marketing department did not have access or communicate with other departments, it would not be able to advertise and market their products.
What is the Relationship between accounting department and housekeeping department?
The accounting department and housekeeping department work closely together to ensure the financial and operational efficiency of a facility, such as a hotel or a hospital. The accounting team manages budgets, tracks expenses, and analyzes financial performance, while the housekeeping department is responsible for maintaining cleanliness and order, which directly impacts guest satisfaction and operational costs. Effective communication between these departments is essential for managing budgets related to supplies, labor, and maintenance, ultimately supporting the overall financial health of the organization. Their collaboration helps optimize resource allocation and enhances service quality.
Relationship between the human resources department to finance?
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.
what are the relationship between store department with other departments in an organization?
Store departments within an organization typically have strong relationships with other departments such as procurement, inventory management, sales, and marketing. The store department relies on procurement to source products, inventory management to track stock levels, sales to understand customer demand, and marketing to promote products effectively. Effective communication and collaboration between these departments are crucial for ensuring smooth operations, optimizing inventory levels, and meeting customer needs efficiently.
What is the relationship between financial accounting and Statistics?
what is the relationships between statistics and accounting
Difference between government agency and government department?
An agency has different departments within itself, such as: human resources, accounting, and sales departments. Each department has its own responsibilities and duties within itself, which make up the entire Agency, firm or business.
What is the relationship between stores department and purchasing department?
The purchasing department buys the raw materials used by the production department so there has to be close cooperation between the two. Purchasing must know in advance what the production department will be in need of so that the items can be provided in enough time.
What relationship is there between the accounting equation and the balance sheet?
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )
What is the relationship between purchasing department and accounting department?
The power of the purchasing department is greatly influenced by the success of the accounts department. Without accounts to produce revenue, the resources needed for the function of the purchasing simply do not exist. In simpler terms: No money=No purchases.
