OBJECTIVES & FUNCTIONS OF FINANCIAL MANAGEMENT - Accounts and Finance for Managers

The next aspect is that organization of finance function.

The finance function is classified into two categories viz routine functions and functions of special importance.

The routine functions are normally Accounting aspects of transactions of the business enterprise which mainly given controller of the finance department.

The functions of special importance are normally involved in the process of preparing the policies of the organization with reference to finance administration; which is mainly earmarked to the Treasurer of the finance department of the organization

The following are the important functions of the Treasurer which normally have special importance in characteristics:

  • Obtaining finance
  • Banking relationship
  • Investor relationship
  • Short-term financing
  • Cash management
  • Credit administration
  • Investments
  • Insurance

The following are the vital functions of the Controller which regularly include:

  • Financial accounting
  • Internal audit
  • Taxation
  • Management accounting and control
  • Budgeting, planning and control
  • Economic appraisal and so on

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