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The accounting department at every company is extremely important since they are responsible for all incoming and outgoing money.
You can call the Accounts department as a heart and brain of your business, without having an effective Accounts department you will not be able to know whether your business is making profits and growing or sinking!!
Accountability and auditing for all transaction and financial activities.
Without money nothing is done
Accounting like the brain of company
Always tells that way is profitable and the other is not
It control the cash and all company plan
I'm not a business person or an accountant, I just have these vague ideas about them and I'm not really sure if they are correct so please correct me in case otherwise. I think accounting is a more general term and it does not only involve finance. My idea of accounting is "checking if everything is as it is supposed to be." For example, an employee's performance can be accounted for, or with the more appropriate term, audited. But since all businesses goal is to gain as much profit as possible, accounting has since been tied up with money. Anyway, accounting is crucial for business development because it makes sure that every business move is measured and has its right purpose. If everything is accounted for, controlling the business would be much easier.
As a marketing person , I always prefered to work closely with accounting department . Because marketing is thé heart of thé company but without proper investment marketing can not be applied. Finance and accounting department offers thé right panorama about thé financial state of thé company. They inform marketers about thé financial risk level thé company can handle so marketing department can more easily elaborate thé marketing budget , thé pricing policies and thé expected profit ratio levels. In every business , its all about creating value , investing on marketing and regaining with profit . Taking strategic and operational actions in marketing and measuring , analizing thé profit and other outcomes are vitally important for thé longevity of companies. I believe finance and marketing should always work in very close collaboration.
The Accounting Department can provide you with the required support to advise the cost of Business Development Activities and more imprtantly the Profitability of a particular engagement or transaction.
Information is money as also the feed back . Well preserved and controlled data are the base for all kind of budgets and plans. And accounting is that process which stimulates all activities by the appropriate use of accounting information and feed back.
Thanksfor invitation,
Accounting department act as a doctor, it can tell what and where problems are that could cause pain in future. It can tell how healthy is your establishment and what are strength or weak points. It can tell based on your health, stamina, normal actions, environment and timing, how far you can run and what risks financially may arise.
After start running, it is important to consult your doctor again to insure that everything is ok. And this will be repeated frequently as to run confidentially.
By other words, accounting department shows (before you set your business plan) where establishment stand, what it own and what related financial options are advised to take.
And it gives (during operation) a parameter reads about establishment recent situation that tell you are going up or down, so you take action according to it.
And so qualified accounting department is very very important to have correct and high quality diagnosis and so correct planing and decisions.
