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What is the importance of finance department in an organization?
Wiki User
∙ 10y ago
Finance department plays significance role in any organisation whether it is profit making organisation or non-profit making organization. The work of finance department is to use the organisation resources in the efficient and effective way otherwise wastage can be dangerous.
Actually finance department look for sources of fund and its best utilization, it allots the fund to different department like marketing, production, and R&D depending upon their need and requirement. Excess allotment of fund to any department can cause wastage.
Beside that it also look whether the fund is utilizing in the best possible way or not for getting result for the organisation.
Wiki User
∙ 10y ago
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