Communication Channel Of An Organisation

COMMUNICATION CHANNEL OF FINANCE DEPARTMENT:

Introduction:

Finance is the lifeblood of any business organization. It is concerned with allocation of funds to various areas and obtaining the best mix of financing in relation to the profitability of the company. Financial system deals with all matters concerned with planning in terms of money. The managerial decision made at the function and accounts department has great impact on all other department. Hence, all departments have to maintain close contact with this department. The success or failure of the company to a great extent depends on the financial planning.

Accounts Section:

Finance management is that managerial activity which is concerned with the planning and controlling of company's financial resources. Finance functions have to be routinely performed. Some of the important routine finance functions are:

1. Supervision of cash receipts and payments and safeguarding of cash balance.

2. Custody and safeguarding of securities, insurance policies and other valuable papers.

3. Taking care of the mechanical details of new outside financing.

4. Record keeping and reporting.

In TNPL the accounts department carried on the daily transactions and also verifies entering the receipts and payments. The most important department in an organization is its financial department. Various types of accounts are maintained in this department all the income and expenditures made are done through this department. The following sections are functioning under the control of the accounts department.

Accounting for issue of Raw-materials:

The main raw material used by the company is bagasse and hard wood.

(A) Sources of Raw-Materials:

1. Private sectors(5)

2. Open market

(B) Work Order issued by

1. Name of contractor

2. Quantity of bagasse to be filed

3. Rate for filling operator

4. Period of operation

5. Security deposit

Basic Cost:

The cost of production includes royalties paid by the company, selling charge, transpo...