The finance department in an organization oversees financial planning and management activities, including budgeting and forecasting, reporting and compliance, and creation of value. Some of these responsibilities help the organization meet compliance obligations. Others contribute to profit-building for the company.Know More
Budgeting and forecasting is completed on a regular basis in companies. The finance department prepares historical documents and projects to aid leaders in developing forward-looking budgets. Leaders in finance inform executives about any changes to projections based on over- or under-developing sales results.
Reporting and compliance is a major role, especially in a public company, because it must issue regular earnings reports to inform shareholders and the public about its current financial position. The finance department prepares common financial statements that meet Securities and Exchange Commission requirements. Company leaders than present this information in a press release and often in a conference call with analysts. Finance departments also prepare internal financial reports that are used by managers for decision-making.
Increasingly, companies rely on finance departments for strategic planning and risk analysis before making investment decisions. Before a company invests in new property or equipment, for instance, the finance department might prepare a risk analysis report. Finance departments also play a key role in advising on business investment activities.Learn more in Corporations
An organization’s purchasing department bears the responsibility for procuring materials, supplies and services, as Reference for Business explains. Employees in the purchasing department are called buyers, supply managers or purchasing agents. Purchasing means obtaining appropriate materials, services and technology from the right source, in the right quantity and at the right time.Full Answer >
The phone number to Citizens Auto Finance department is 800-610-7300. Citizens Financial Group was previously known as RBS Citizens Bank before a 2014 name change.Full Answer >
Growing Power was an organization that offered teenagers a place to work. Will Allen, the organization's founder, was a farmer with extra land that he devoted to the program.Full Answer >
An international company is an organization that has business operations in several markets across the globe. The company may have its headquarters in one central location, but it has subsidiary offices in each of the countries it operates in.Full Answer >