FINANCE_CAMI.C & MAGA

Description

Mind map with the Finance Department
Mags Valla
Mind Map by Mags Valla, updated more than 1 year ago
Mags Valla
Created by Mags Valla over 8 years ago
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Resource summary

FINANCE_CAMI.C & MAGA
  1. Production
    1. Production department’s main duty is to produce the goods. For producing goods, it needs raw material, labor and other expenses. For paying all expenses, production department needs money and fund which will be fulfilled by finance department. Finance department checks the budget of production department and allow funds for production department.
    2. Marketing
      1. For developing the product, promotion activities and distribution activities of marketing department need some money for paying salesmen, advertising budget and other promotional expenses. For this marketing department makes his marketing budget and it is cleared by finance department, but sometime finance department will not all specific marketing expenses but marketing department need that type of expenses for promotion of sales
      2. Personnel
        1. Personnel is that science which manages the employees of company and finance is that science which manage the money. If personnel department and finance department work together with co-operation, both departments can satisfy the objectives of company.
        2. Human Resources
          1. Although their mottos are different, they work towards the same goal of a healthy and succesful company. A strong relationship between the two departments leads to improvements in employee productivity and engagement, and higher corporate earnings.
          2. Purchase
            1. The purchase department is in charge of the sales, though it depends on Finance's decision and budget.
            2. Administration
              1. Finance & Administration provides Facilities operating departments with shared services that include budgeting, finance, procurement, contract administration, and information technology hardware support.
              2. Legal Deparment
                1. Payments, contracts, and legal documents.
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