Question

The Finance department acts as a watchdog over company expenditures. Finance should review marketing and production. Specifically it should do what?

Answer 1

As we know that finance department acts as a watchdog over company expenditures and revenues also. In other words we can say that finance department controls & supervise all revenues & expenditures of all departments of the company. Hence this department handles all matters related to finance of all departments of the company whether it is marketing department or production department.

Followings are the main role of finance department is as follow;

1. Financial reporting and finance controlling of the company.

2. Manage working capital of the company.

3. Manage payables and receivables of the company.

4. Manage tax and related matters of the company.

5. Future financial planning and analysis.

6. Capital budgeting and capital structure management.

7. Dividend management.

8. Raising and utilization of funds.

9. Payroll management etc.