• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Nokia Finance department.

Extracts from this document...

Introduction

Nokia Finance department Finance department The finance department is responsible for razing the money so that the business can survive or expand. It can do this by a judicious mixture of borrowing, going to the shareholders, reducing costs and managing to increase process marginally. Sources of finance * Tax refunds * Bank * Mortgage * Private loans * Credit cards * Shares * Grants * Overdrafts * Personal investments * Borrowing * Savings * Windfalls The department must record all financial transactions, it must be involved in costing and advise on pricing, and it prepares and arranges for the payment of wages and salaries. It must provide continuous prepare the final accounts for the year which will be audited and presents to the shareholders' meeting. ...read more.

Middle

It is not that they are so much cleverer than our predecessors were; it's just that they have better tools. The obvious one is the computer. In most supermarkets the check-out process and the till are managed by bar codes on the goods which the customer wants to buy. These are passed before a bar code reader which registers the item and its price on the computerized till. The customer gets the bill, grasps at the total and presents a debit or credit card. That is swiped through another reader and a credit card bill is produced which the customer checks and signs. No money has changed hands in terms of currency, no adding up has been done, every item charged for can be checked by the customer (who cannot add up anyway and merely puts in the trolley what is wanted and hopes for the best at the check-out). ...read more.

Conclusion

the finance staff can present an immediate report the following morning on how any one branch or any one product is succeeding and also how all the branches and products are collectively moving towards their targets. The point here is that Nokia are able to take action as soon as they are aware that it had all gone wrong and they know at once what to do. In every Nokia branch the financial information is provided on daily basis What happens between opening hours one day is recorded, analyzed may be acted on by 0900 the next. It's usually earlier than that really, but head office staff gets in later. Management accounting it about everything that contributes to performance and controls everything that can be controlled. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Tesco Finance Department

    * Purchasing - This is were tesco buys other branded products to sell and make a profit out of them. * Distribution - This is were the products of tesco are made and allocated in different tesco stores. Operations department play a big part on a business.

  2. Sales Department

    The publishing world is dominated by the apple Macintosh so this is the type of computer used. A graphics tablet was also required. A colour inkjet printer was used to print the proof copy. Finally a terminal adapter was used to connect to the broadband Internet connection.

  1. Introduction to Business Finance.

    It gives the business a record of its payment. This is the end of the process. It will be sent out when the seller has received and processed the money from the buyer. Methods of Producing Financial Documents * Financial documents can be produced by a number of methods.

  2. Sources of Finance

    As well as this no interest charges will have to be paid, meaning your poor initial cash flow situation will not be made any worse.

  1. Finance Department.

    This states the income, expenses, profit or loss of the business in the whole year. This function is also very important because they can become useful to different people for different reasons. For example, the 'Inland Revenue' can make sure that Tesco has paid the correct amount of tax.

  2. The administration department

    Some of the jobs included with cleaning are: * Keeping the work area clean for employees and possibly customers * Cleanliness and general maintenance of facilities * Refurbishing and redecorating the building, inside and out * Maintaining machinery Security Security is also of utmost importance to any company.

  1. The Finance Department

    They can calculate their profits by using a simple formula which is: profit = income - costs. BT can calculate their income from sales; this would help them by showing which products are selling well and which products are performing badly.

  2. The management of business finance

    with an annual turnover of �50 000 or more and take 5% of the owed balance on your companies' debt. o Trade Credit~ unlike me for example, a business does not normally pay for things before it takes possession of them.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work