Deputy Chief Financial Officer Question:
What is internal structure of a finance department in medium and large businesses?
Answer:
There is no standard pattern for the organization of finance function. In general, internal structure of finance department can take following form:
★ Board of directors
★ Executive Committee
Vice President(Production)
Vice President(Finance)
-> Financial Controller
★ Accounting and Costing
★ Annual Reporting
★ Internal Auditing
★ Budgeting
★ Statistics and Finance
★ Record Keeping
-> Treasurer
★ Receivables management
★ Taxes and Insurance
★ Cost management
★ Securities
★ Banking Relations
★ Real Estates
★ Dividend Distribution
★ Vice President(Marketing)
★ Board of directors
★ Executive Committee
Vice President(Production)
Vice President(Finance)
-> Financial Controller
★ Accounting and Costing
★ Annual Reporting
★ Internal Auditing
★ Budgeting
★ Statistics and Finance
★ Record Keeping
-> Treasurer
★ Receivables management
★ Taxes and Insurance
★ Cost management
★ Securities
★ Banking Relations
★ Real Estates
★ Dividend Distribution
★ Vice President(Marketing)
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