Question

discuss the relationship between Finance and other departments within a corporation. Provide your answer in no more than 100 words.

Answer 1

Well, Finance play an inevitable role in every company. After all t,he annual reports and how the company should maange the money are monitered by the finance department.

First of all, Finanace department helps in allocating funds for marketing and advertisements department according to firms capability, this helps the marketing departments to plan the marketing expenses accordingly.

Secondly, Finance has a good role in operation departments also that is, In operations there will be purchases of raw materials therefore, finance releases the fund for suppliers and also they help in anaysis the cost of raw materials wheather they are high priced.

Human resource department , Finance department analsyis the profit and loss of a company and helps in fixing allowance of employees over the period.

Finance department also play a key role in developing financial statements for every year.