Question

The procedures you might need to follow to access the financial data and plans necessary for...

The procedures you might need to follow to access the financial data and plans necessary for efficient operation of a team/section/division

Homework Answers

Answer #1

For efficient operation of a team / section / division must be clearly distributed responsibilities of each participant in the process. That is, identify the limits of liability and terms of preparation. You must also provide the level of access to information.
2. Operating personnel cost center should be involved in budgeting expenses. Consultations at the stage of financial plans is key to the effectiveness of the cost center. Since the operational staff has practical experience in the center costs. At the stage of implementation plans the financial operational staff may provide corrective information. The direct connection between financial and operating personnel promotes efficient use of resources. That helps reduce costs.

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