Explain the internal structure of a finance department in medium and large businesses.
Explain the internal structure of a finance department in medium and large businesses. There is no standard pattern for the organization of finance function. In general, internal structure of finance department can take following form:
- Board of directors
- Executive Committee
Vice President(Production)
Vice President(Finance) - Financial Controller • Accounting and Costing
• Annual Reporting • Internal Auditing • Budgeting • Statistics and Finance • Record Keeping - Treasurer • Receivables management • Taxes and Insurance • Cost management • Securities • Banking Relations • Real Estates • Dividend Distribution Vice President(Marketing)
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