What would cause a financial manager to contact a government department?

Expert Solution

Ans: There would be many instances where a financial manager will contact a government department. Financial managers are basically those people who looks after the finances of the organization and oversee that transactions in the organizations are being booked, recorded using the right accounting principles and concepts, these people are responsible for overall financial health of the organization, these are the people who publishes financial statement of the organization to the public, government, and other outside stake holders, and in order to prepare such statements they may need to contact government department so that they can understand government's need and fulfill the same.

A financial managers also need to contact government department relating to tax matters, they may ask government officers for suggestions and seek any advice relating to tax audits.

A financial manager may also need to contact government department when the organization goes for IPO listing, they have to follow many guidelines by the government and they may seek government’s officer’s advice pertaining to the same, hence they will end up contacting government department.

A financial managers also need to contact government department when they plan to take any outside borrowings, they have to involve government department in such proceedings.

In pursuance of getting any tax exemption and tax refund, a financial manager has to contact a government department.

So these are the few instances where we can say that a financial manager need to contact government department.

ekkarill92 answered 1 year ago

What can cause a financial panic? What would be the benefits and costs of using the...

What can cause a financial panic? What would be the benefits and costs of using the Federal Reserve as a "lender of last resort"?

Option 3 - Interview an incubator manager Contact the manager of an incubator and conduct an...

Option 3 - Interview an incubator manager Contact the manager of an incubator and conduct an interview by asking the following. In what types of companies does the firm help/invest? What criteria does the firm use to decide whom to help/fund? What are the typical focuses of the incubator in helping a company? What controls are used by the incubator to help ensure the company's success? What are the most challenging tasks any business incubators may encounter?

Assume you are a new manager in the Financial Analysis department and are orienting a team...

Assume you are a new manager in the Financial Analysis department and are orienting a team of new college graduates to the world of capital budgeting. In your initial post, explain the uses of the common capital budgeting tools to them. Explain what they are, and how you use them in your daily tasks. Make sure to explain any financial terminology

What is an example of a noble cause the plant manager of a division that manufactures...

What is an example of a noble cause the plant manager of a division that manufactures oilfield equipment might use to motivate workers?

If you were the appropriate financial manager of any firm what would be your observations and...

If you were the appropriate financial manager of any firm what would be your observations and recommendations be? use any example for any firm URGENT: NEED ANSWER ASAP PLEASE RESPOND WITH COPY AND PASTE, NOT ATTACHMENT USE ORIGINAL CONTENT NOT USED BEFORE ON CHEGG PLEASE ANSWER THROUGHLY TO ALL ANSWER TO BEST ABILITES ORIGINAL SOURCE NEVER USED BEFORE!!!

Considering the responsibilities listed below, what would a company's financial department have to do for each...

Considering the responsibilities listed below, what would a company's financial department have to do for each of the principles to ensure IS security by OECD's standards? Financial Department Responsibilities Payroll Paid time off Retirement plans Medical plans Accounts payable Accounts receivable Investments Loans Interacting with financial departments of other companies OECD Principles Awareness- Participants should be aware that the information systems and networks need to be secure and what they can do to improve the security. Responsibility- The security of...

You are a hotshot MBA financial analyst for the manager of the Emmons Corporation’s Machining Department....

You are a hotshot MBA financial analyst for the manager of the Emmons Corporation’s Machining Department. Your manager is visibly upset after being reprimanded for his department’s poor performance over the last month, as presented in the below report: Emmons Corporation – Machining Department Department Performance Report For the Month of November 2016 Actual Results Original Planning Budget Variances Volume-Machine Hours 38,000 35,000 Direct Labor Wages $86,100 $80,500 $5,600 U Supplies $23,100 $21,000 $2,100 U Maintenance $137,300 $134,000 $3,300 U...

What are the factors that will cause government expenditure to fall while population increases?

who would contact regarding the strategic plan

Suppose a government department would like to investigate the relationship between the cost of heating a...

Suppose a government department would like to investigate the relationship between the cost of heating a home during the month of February in the Northeast and thehome's square footage. The accompanying data set shows a random sample of 10 homes. Construct a 90% confidence interval to estimate the average cost in February to heat a Northeast home that is 2,900 square feet. Heating Square Heating Square Cost ($) Footage Cost ($) Footage 330 2,410 440 2,610 300 2,410 340 2,210...

Question