Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

Does finance department in any company does a very important job? actually money is brought in by hard working people in marketing or production or R&D department. accounts only do some entries of cheqes, vouches in computer. do you agree with me or not.

Tags: money, hard working, important job
Asked by madhu, 09 Jul '12 12:31 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (2)

1.

Every department has it's own role to play and has it's own responsibilities. No doubt that sales and marketing team bring in the business, but it's the finance department which gives the stability to any company. Audit reports, tax payments, collections, banking, proper records, etc are all maintained by finance and accounts. Just imagine the situation of a company if there were no proper records and no proper figures for the sales team to sell their products. Only selling doesn't help, there are receivables also and then there is management also.
Answered by Cartoon Network, 09 Jul '12 12:36 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
2.

1st Function To Prepare the Budget

It is duty of finance department of company to make the budget before actual providing money to any department. It will be helpful to fulfill each department with minimum cost. Finance department can take the past records from respective department. It will be useful for making better budget.

2nd Financial Management

In this function finance department gets money from capital market at very low risk and cost. Finance department analyzes all the resources of funds and create a good financial structure of company. In this structure, finance department analyze whether it will decrease the overall cost of capital on Average basis or not.

3nd Management of Investments of Company

After making financial structure, finance department invests debenture holders and shareholders money in best projects for getting highest return on investment. For this finance department has to take investment decision. These investment decisions can be taken ...more
Answered by saranathan Narasimhan, 09 Jul '12 03:14 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining