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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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