What happens in the finance department of a company?
For my primary 6/7 enterprise project. I need an answer in child friendly speak.
Tags: answer, child, company, department, enterprise, enterprise project, Finance, happens, project
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June 7th, 2010 at 7:42 am
They figure out whether they can afford things or not
June 7th, 2010 at 8:41 am
They also work out who owes them money and how much. Then they make sure people pay them.
They also work out how much money the company owes to other people and pay them.
Then they work out if the money they are owed is more than the money they owe to other people, and if so they have made a profit……and this is good news!!!
June 7th, 2010 at 8:54 am
They work out how much they can spend on their company such as advertising
They also pay the staff wages
June 7th, 2010 at 9:48 am
It is the role of the Finance Department of a company to carry out the directives of the Board of Directors to the best of its ability. It needs to balance the debtor and creditor book to ensure that the company maintains liquidity and is able to meet its debts as they fall due for payment. It has to meet the requirements of Accounting Practice and act legally.
June 7th, 2010 at 10:46 am
they work out 2 spread the money and pay the wages and bills
June 7th, 2010 at 11:34 am
Basically the finance dept, controls the company.just like the bank of england controls the uk and evryone in it