Financial affairs play very important roles in all aspects of company management.
The financial officers generally have four major responsibilities.
They're all carried out at the basis of careful financial analysis.
To put it more specifically, the four responsibilities are organizing, coordinating, executeing and measuring.
In many companies, all the functions fall on the responsibility of the chief financial officer.
They should be responsible for planning and carrying out the financial policies of the company.
I'm not quite familiar with the financial terms.
It deals with the everyday income and expenditure of the company.
The customers pay each month for the goods supplied the previous month.
The credit control system ensures that the monthly limit isn't exceeded.
What shall we do if customers don't pay?
For large sum we take legal steps to recover the money.
Your department looks after this.
The management accounting is concerned with supplying information to management.
We only accept payment by L/C for large orders.
They wouldn't accept other payment terms this time.
Most banks require companies to submit financial statements before they extend credit.
The statement is prepared under the direction of our controller who is a CPA.
We need a detailed financial report before Friday.
CPA refers to the accountants who have passed a qualifying licensing examination.