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The Finance Department

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The Finance Department The main functions of the finance department for BT is to record all business transactions, measure the financial performance of the business, hold financial accounts to see how well the business is doing, hold management accounts which the managers use to authorise and make decision etc. Computer Fax Letter Receives Telephone Information Salesperson Purchasing Department Sales Department Finance Department (for departments) Production Department Departments Customers Tax Authority Salesperson Purchasing Department - buys the fibre cables, vans tools etc Finance Department - calculates its profit and loss accounts Sales Department - Calculates revenue from sales of goods/services Production Department - Produces the goods/services for the customers need Financial Accounts - this has all the information and records of financial events and transactions made by BT. ...read more.


This is used to control the business and make sure that the business is on track or to make improvement decisions. Cashiers Functions- The cashiers handle all the cash, cheques and credit/debit card payments, they check that the money is not being stolen so the cash, cheques and credit/debit cards get counted, calculated and recorded before it is sent to the bank. Wages Function - the person who is in control with the system, which prints out the pay-slips, makes sure that they are correct and don't have print errors on them with a few more zeros added onto the end. This is also known as the pay roll function. How finance department helps BT to increase their revenuse from sales. ...read more.


Every year each department gets a budget, they have to use the budget carefully and efficeintly not to finish it during the first six months. They have to try and minimise their costs. The finance department records and tracks down on their BT's spendings. They can show it to other departments and they can gain advice from them like if they are buying twice as much needed as only half of the products are being sold they should cut down next time so that they don't lose any revenue from sales. The finance department also advises other departments on where it should reduce its spending and where to increase them if a particular part is not increasing. Ahmet Kurban Business AVCE Mr Fitton Page 1 of 2 ...read more.

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