This document provides an overview of corporate finance functions within an organization. It describes finance as a support function responsible for profit and company results. The chief financial officer leads the finance department and is responsible for profit, costs, people, improvement, planning and development. The finance department typically includes sections for financial planning and analysis, controllership, treasury, and internal controls/audit.
2. What is Finance in a
Corporation?
•One of the most important functions of a
corporation
•Support function (no direct connection to
production or customers)
•Responsible for profit and company’s results
3. Finance is a function
•Important function, not just an accounting
department
•Managing costs
•Reporting results
•Trust
4. CFO/Finance Director
•Responsible for profit
•Managing costs
•Managing people
•Improvement and making decisions
•Planning and business development
6. Financial Planning &
Analysis
•FP&A Manager is the next CFO
•Management reporting
•Variance analysis
•Communication with other business departments
(sales, production etc.)
•What went wrong last quarter?
7. Controllership
•Controller is the next CFO
•Financial Accounting & Financial Statements
•Closing and Reporting
•Fiscal affairs
•Standard accountant role
8. Treasury
•Treasurer is as important as CFO
•Cash is the most important asset
•Banking and money management
•Customer satisfaction
•Maximize revenue
9. •Internal Audit manager is the next CFO
•Seeing the big picture
•Auditing every department
•Compliance
Internal Audit