The finance department in a business or institution is a division responsible for handling money on its behalf. Depending on the type of company, the role of a finance department will vary. Apart from controlling the expenditure and income, the finance department ensures that transactions associated with the organization’s daily operations run smoothly without disruptions
In a business, the financial department oversees the disbursement of salaries, clearing of supplier invoices, payment of utility bills, and other running expenses. Apart from all this, the department is required to perform a detailed analysis of the company’s financial situation and develop a business model profit plan. The plan will include everything from controlling costs to seeking out credit lines, and new investment strategies to improve the financial situation of the business continually….