Financial division. Tasks and functions of the financial and economic department. An auditor is coming to visit us

Financial work at enterprises is organized and carried out by financial services. At large domestic enterprises, special financial departments or departments are created for this purpose. At medium-sized enterprises, financial departments or financial groups can be created as part of other divisions (accounting, departments, analysis and forecasting services, labor and wages, pricing).

In small enterprises, financial work is assigned to the chief accountant.

Financial services are given the right to receive the necessary information from all other services of enterprises (these are balance sheets, reports, plans, consolidated cost calculations, etc.)

The head of the financial department (department), as a rule, reports to the head of the enterprise or his deputy for economics and, together with them, is responsible for the financial condition of the enterprise, the safety of its own working capital, for the implementation of the implementation plan, providing funds to finance the costs provided for in the plans.

The main tasks of the financial service are:

1. provision in cash current costs and investments;

2. fulfillment of obligations to the budget, banks, other business entities and employees.

The financial service of the enterprise determines the ways and methods of financing costs. They can be self-financing, attracting bank and commercial (commodity) loans, attracting equity capital, receiving budget funds, leasing.

To ensure the timely fulfillment of monetary obligations, financial services create operational cash funds, form reserves, and use financial instruments to attract cash into the enterprise’s turnover.

The tasks of the financial service are also:

1. promoting the most efficient use of fixed production assets, investments, inventories;

2. implementation of measures to accelerate the turnover of working capital, ensure their safety, bring the size of own working capital to economically reasonable standards;

3. control over the correct organization of financial relations.

The functions of the financial service are determined by the content itself financial work at enterprises. This:

1. planning;

2. financing;

3. investing;

4. organization of settlements with suppliers and contractors, customers and buyers;

5. organization of material incentives, development of bonus systems;

6. fulfillment of obligations to the budget, optimization of taxation;

7. insurance.

The functions of the financial department (service) and accounting are closely intertwined and may coincide. However, there are significant differences between them. Accounting records and reflects facts that have already happened, and the financial service analyzes information, plans and forecasts financial activities, presents to the management of the enterprise conclusions, justifications, calculations for adoption management decisions, develops and implements financial policy.

The financial department is assigned the following functions:

Development of a financial strategy for the organization.

Development of promising and current projects financial plans, forecast balances and cash budgets.

Preparation of draft plans for the sale of products (works, services), capital investments, scientific research and development, planning of product costs and production profitability - participates in preparation.

Calculation of profit and income tax.

Determining sources of financing for the production and economic activities of the organization, attracting borrowed funds and using own funds, conducting research and analyzing financial markets, assessing possible financial risk in relation to each source of funds and developing proposals to reduce it.

Implementation of investment policy and management of the organization's assets, determining their optimal structure, preparing proposals for the replacement and liquidation of assets, conducting analysis and evaluation of the effectiveness of financial investments.

Development of working capital standards and measures to accelerate their turnover.

Ensuring timely receipt of income, processing financial, settlement and banking transactions on time, paying bills of suppliers and contractors, repaying loans, paying interest, wages workers and employees, transfer of taxes and fees to the republican and local budgets, to state extra-budgetary social funds, payments to banking institutions.

Analysis of the financial and economic activities of the organization.

Control over the implementation of the financial plan, product sales plan, profit plan and other financial indicators, over the termination production of products that has no sales, the correct expenditure of funds and the targeted use of own and borrowed working capital.

Keeping records of the movement of funds and reporting on the results of financial activities in accordance with financial accounting and reporting standards, the reliability of financial information, monitoring the correctness of the preparation and execution of reporting documentation, the timeliness of its provision to external and internal users.

The fundamental differences between the financial service and accounting lie not only in the approaches to determining funds, but also in the area of ​​decision-making. Accounting works to collect and present data. The financial department (management), getting acquainted with accounting data and analyzing all these materials, makes specific decisions regarding activity of the enterprise.

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(Business name,
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organizations, institutions)
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POSITION
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					00.00.0000

I. General provisions

The financial department is an independent structural unit of the enterprise and reports directly to the deputy director for economic issues.

II. Tasks

Organization of financial activities of an enterprise aimed at ensuring financial resources plan tasks, safety and effective use of fixed assets and working capital, labor and financial resources of the enterprise, timely payments on obligations to the state budget, suppliers and banking institutions.

III.

Structure

1. The structure and staffing are approved by the director of the enterprise in accordance with the standard structures of the management apparatus and standards for the number of specialists and employees, taking into account the volume of work and the characteristics of production. 2. The department may include units (sector, bureau, group) of financial planning, financial analysis economic activity

, organizing payments to suppliers, collection, cash transactions, etc.

1. IV. Functions

In the field of financial and credit planning 1.1. Drawing up, in a timely manner, draft financial plans of the enterprise with all the necessary calculations, taking into account the maximum mobilization of on-farm reserves, the most

rational use

1.3.

Participation in drawing up a product sales plan in monetary terms. Determination of the planned amount of balance sheet profit for the year and quarters and profitability indicators. 1.4.

Drawing up together with the planning and economic department planned calculations.

formation of economic incentive funds and participation in drawing up estimates for their expenditure.

1.5.

Determination of the planned amount of depreciation charges divided by the complete restoration (renovation) of fixed assets

major renovation

1.6. Participation in determining the needs of own working capital by elements and calculating working capital standards. 1.7.

Drawing up a plan for financing centralized capital investments and a plan for financing capital repairs of fixed assets.

1.8. Drawing up plans for the distribution of balance sheet profits and depreciation charges. 1.9.

Participation in drawing up plans for financing research work based on the envisaged volume of this work, as well as identifying sources of financing plans for organizational and technical activities, taking into account calculations of economic efficiency.

1.10.

Planning

average annual cost

fixed production assets and fixed assets exempt from fees for assets. 1.11..

Carrying out settlements for filing claims with suppliers and contractors and for transferring export premiums. 1.12. Distribution of quarterly financial indicators

by month.

2. 1.13. Participation in drawing up a plan for turnover tax.

1.14.

Bringing the indicators of the approved financial plan and the tasks arising from it, limits, norms and standards of working capital to the departments, services, workshops of the enterprise and carrying out systematic monitoring of their compliance and implementation. 1.15. Drawing up operational financial plans for the coming month and intra-monthly periods.

1.16.

Drawing up operational plans for product sales in monetary terms and profit plans. own funds from profits, depreciation charges and other sources to finance centralized and non-centralized capital investments;

transfer of funds to special accounts (for the production development fund), etc.;

transfer of funds in the order of intradepartmental redistribution of profits; working capital, depreciation, as well as funds for financing research and development, development new technology and other goals provided for in the financial plan;

transfer of funds to centralized funds and reserves of a higher organization;

issuing wages to employees of the enterprise and carrying out other cash transactions;

payment of invoices to suppliers and contractors for shipped material assets, services provided and work performed in accordance with concluded contracts;

payment of interest on loans on long-term and short-term bank loans.

2.2. Providing financing for the costs provided for in the plan.

2.3. Registration of requested loans in accordance with current rules

lending and ensuring the repayment of loans received within the established time frame.

2.4. Carrying out transactions on the accounts of the association and the parent enterprise in banking institutions. 2.5.

Presentation to bank institutions registered in

in the prescribed manner

payment requests, other settlement documents for shipped products, services provided and work performed; ensuring the timely receipt of documents for the shipment of products, issuing invoices and taking measures to ensure the timely receipt of funds due from buyers.

2.6. Maintaining daily operational records:

sales of products, profits from the sale of other financial indicators;

refusals of buyers to accept payment requests for products shipped, services rendered and work performed for reasons of refusal and taking appropriate measures regarding them; fulfillment of other financial plan indicators..

2.7.

Drawing up and submitting information and certificates to the management of the enterprise on the progress of implementation of the main indicators of the financial plan and on the financial condition.

reviewing claims and sanctions brought by buyers and customers, and developing proposals to eliminate deficiencies causing these claims;

filing claims (in collaboration with the legal department) and applying sanctions against buyers, suppliers and customers;

taking measures (together with the legal department and the general accounting department) for the timely and complete collection of receivables from buyers, tenants and other debtors.

2.11.

Introduction of the most appropriate forms of settlements with buyers and suppliers, facilitating timely payments, and ensuring compliance with the rules for conducting these settlements.

3. 2.12.

Receipt, storage, operational accounting and issuance of cash, securities and strict reporting forms in accordance with the Regulations on the conduct of cash transactions.

2.13. Compliance with the cash balance limit established by the relevant bank at the enterprise's cash desks and ensuring the complete safety of banknotes. In the field of control and analytical work

3.1. Exercising control:

for the fulfillment of financial, cash and

credit plans

, as well as profit and profitability plans;

the status of shipment and sales of products;

for the use for their intended purpose of own and borrowed working capital in general for the association and for individual structural divisions, for which the heads of the relevant farms of the enterprise are responsible for compliance with working capital standards;

for receiving cash from bank institutions for the payment of wages and other expenses strictly within the limits of the amounts due, determined on the basis of

established rules and cash plans approved by the enterprises of the association, and compliance with cash discipline.

On all issues related to the implementation of the listed functions, the financial department makes its proposals to the management of the enterprise.

3.2.

Together with the main accounting department and the capital construction department, checking:

compliance of the cost of equipment under orders and concluded agreements with allocations for these purposes provided for through centralized and non-centralized sources of financing capital investments;

the correctness of the preparation, execution and approval of estimates, calculations of the return on capital investments for the introduction of new technology and the expansion of the production of consumer goods, carried out at the expense of the production development fund and bank loans, as well as estimates for the expenditure of incentive funds and other special-purpose funds.

3.3.

Carrying out a systematic analysis of accounting, statistical and operational reporting on issues related to the implementation of financial, cash and credit plans, compliance with financial and payment discipline; forecasting the results of economic and financial activities; improving the use of fixed assets and working capital;

identification and mobilization of intra-industrial reserves and additional sources of financing.

3.4.

3.8.

Participation in work to improve the organization and planning of working capital and in the implementation of measures aimed at accelerating the turnover of working capital of the enterprise.

3.9.

Participation in the development and implementation of measures to improve in-plant cost accounting in the structural divisions of the enterprise.

V. Relationships of the financial department with other divisions of the enterprise

1. With the economic planning department and the main accounting department.

Receives: production plan for the item for the year, quarter, month; production plan by product range and volume of marketable products by workshop.

Represents: financial plan; reports on the implementation of the financial plan; copies of the assignment to workshops and departments to reduce working capital inventories; daily information on the implementation of the implementation plan by workshops and the enterprise as a whole.

2. With departments of logistics, external cooperation

Receives: a conclusion on claims made by suppliers; reporting data on the movement of materials and their balances at the end of the month.

Represents: invoices for acceptance; information about materials in transit; information about unpaid invoices with reasons.

3. With technical departments Receives: financial estimates for financing capital investments through bank loans for the introduction of new equipment, for expanding the production of consumer goods; cost estimates for research, development and other work and calculations of their effectiveness approved by the management of the enterprise. Represents: a plan for financing research and development work based on approved estimates, as well as ensuring

necessary means

floating organizational and technical measures; budgets and financial estimates for the costs of introducing new equipment, estimates for the expenditure of special funds and special-purpose funds, verified jointly with the main accounting department, correctly drawn up, executed and approved in the prescribed manner.

4. With the capital construction department Receives: planned volume, structure of capital investments, balances of material assets and the state of settlements in capital construction. Represents: a plan for financing capital investments drawn up jointly with the capital construction department state plan taking into account mobilization

internal resources

Represents: notification of bank institutions about letters of credit issued by buyers and customers, information about buyers who have delayed payment of invoices and payment requests or refused to accept them, as well as notifications of the application of bank sanctions to buyers and customers.

6. With the legal department

Receives: management decision to transfer funds based on the results of consideration of claims and lawsuits; marks on bank documents about the receipt of funds for reviewed and satisfied claims and claims; instructions for the listed state fees for arbitration claims.

Represents: completed claim materials and prepared for filing claims with arbitration bodies; conclusions on claims and lawsuits in connection with refusals to pay bills, errors in their presentation, etc.; certificates of transfer of funds in connection with the consideration of claims and arbitration claims; documents on transfer of state duty; conclusions on agreements to establish the form of payments.

1. Require the divisions of the enterprise to provide materials (analysis data of economic activities, accounting, statistical and operational accounting, etc.) necessary for implementation of work, falling within the purview of the financial department.

2. Monitor the financial activities of the enterprise’s divisions and give their managers recommendations on the organization and conduct of financial work.

3. Based on the results of economic activities, make proposals to the management of the enterprise on the application of sanctions and incentives in relation to individual employees and divisions of the enterprise.

Under the authority of the management of the enterprise, manage financial resources and sign (with the first signature) monetary, payment, settlement, credit and other financial documents, in compliance with current legislation, contract rules, instructions, as well as approved plans and estimates.

5. Represent the company in financial, credit and other organizations on financial issues.

6. Endorse all documents related to the financial activities of the enterprise (plans, estimates, reports, contracts, orders, instructions, etc.).

7. Instructions of the financial department within the limits of the functions provided for by these Regulations are mandatory for management and execution by divisions of the enterprise.

VII.

Responsibility

2. The degree of responsibility of other employees is established by job descriptions.

(head of structural
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AGREED
(executive, which
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(signature)		(last name, initials)
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Head of the legal department
(signature)		(last name, initials)
00.00.0000

The main functions of the finance department are finding ineffective processes and developing ideas to increase profits. Read what other tasks the financial service solves, what divisions are part of it, and also download the regulations on the financial department.

The finance department can be compared to an oracle. The top manager asks questions:

1. What is the forecast for the company's activities for three years?
2. What can I do to improve my financial situation?
3. Which departments performed better and worse this year?

• How much money do I need to implement the project and where can I get it?

Download and use it:

How to calculate the optimal number of financial service employees

If there are too few employees in the financial service, they cannot cope with the volume of work. A lot of them sit idle and eat up the company’s money. To avoid such problems, determine the optimal number of subordinates.

Functions and tasks of the financial department

Decide how many specialists should work in finance department enterprise, and what kind of specialists they should be, a diagram of the functions and objects of the financial department will help.

Functions/Objects	Planning	Operational activities	Analysis	Creation/development
Income and expenses	Budget of income and expenses Business planning	Coordination of requests for expenses,
Price	Calculation of product prices based on cost	Daily, weekly and monthly reporting	Plan-fact analysis, identifying inefficiencies	Regulations, procedures, forms, software
Reporting (local, IFRS)		Performing a broadcast RAS-IFRS	Internal audit (see how to conduct it), analysis of key financial ratios	Regulations, procedures, forms, software
Management reporting	Planned reporting package for internal and external users	Maintaining reports, passing audits	Analysis of key financial ratios	Regulations, procedures, forms, software
Cash	Cash flow budget Payment schedule	Coordination of requests for payments, Payment registers, Attracting funding	Plan-fact analysis, identifying inefficiencies	Regulations, procedures, forms, software
Working capital	Payment schedule, Working capital plan	Control of debt and short-term contracts according to debt terms, Time deposits	Working capital structure, liquidity	Regulations, procedures, forms, software
Taxes	Tax budget			Optimization schemes
Treaties	Maintaining a portfolio of contracts	Coordination		Financial chapters of contracts
Capital investments	Investment plan	Coordination of applications for capital investments	Analysis of fixed assets, depreciation
Financial investments	Finding and planning the best forms of investment	Investment management	Analysis of investment projects	Investment portfolio, regulations, software
Business processes	Calculation of the cost of business processes	Control and optimization of processes in finance		Financial business processes
	Calculation of planned KPIs	Daily, weekly and monthly reporting	Calculation of actual KPIs, payments	KPI system

The list of functions and objects is so extensive that at first glance, it seems that a third staffing table must be given to the financial service. But that's not true.

Let's look at each object and its functions sequentially and decide which employee should perform them.

The first block of company finances

Income and expenses

Financial Controller. The person who starts the finance department. The one who is the first to be hired in the finance function, and as it grows, he often becomes the chief financial officer.

IN small companies The financial controller often creates management accounting from scratch, develops documents, analytics and processes for which accounting should be kept. In medium-sized companies, financial controllers actively participate in the further improvement of management accounting, and daily routine tasks are performed by financial analysts subordinate to them.

In large companies, financial controllers and financial analysts work in dedicated divisions - financial control departments by area of ​​activity (by product, region, type of expense, etc.), where they are engaged in planning, accounting and analysis within their area. Sometimes there is a need to display planning in a separate function and create planning department, or budgeting department.

Price

Pricing functions are not very different from calculating income and expenses. Therefore, they are carried out either by the same financial controllers, if the enterprise is small, or by the Pricing Departments. All pricing and management activities pricing policy is carried out jointly with the Commercial Department, because financiers can only give one of the components of the price - cost and profit, the second term is the market, which is not in their competence

Reporting (local, IFRS)

Maintaining local reporting, of course, is the responsibility of the accounting department. Whereas reporting according to IFRS often dealt with by a financial controller, an IFRS specialist, or entire IFRS departments.

If an enterprise, for one reason or another, needs a planned reporting package, then it can also be done by specialists from the financial control department based on the BDR, BDDS and investment budget.

Internal audit of local financial statements you can puzzle the financial controller. Or create an internal audit department. It all depends on the scale, of course.

External audits are usually carried out by a strong collaboration between the chief accountant and the financial control department.

The analysis of key financial indicators and the writing of analytical notes are usually carried out by the same financial controllers.

Management reporting

Maintaining management reporting is entirely the responsibility of the finance department. Accordingly, the full cycle from planning to analysis of the results obtained lies with financial controllers. Or, if there is a dedicated division, on employees of the Management Reporting Department.

The second block of company finances

Cash

If the financial controller was the main figure in calculating income and expenses, then the key figure in cash management was the treasurer. Tools for short-term planning of DS - payment calendar, and medium-term - the cash flow budget is in his area of ​​responsibility. Every day he coordinates requests for payment and creates payment registers, monitors the profitable placement of DS on time deposits.

In small companies, the treasurer may still be the same financial controller. But such a combination is effective only if the company carries out no more than 30 transactions daily and has well-automated business processes in finance.

The union of a treasurer and an accountant in the payment area works well for medium-sized enterprises, but for large enterprises it is necessary to create a treasury department.

Working capital

Working capital management is a related area to cash management, so it is also handled by the treasurer. In large companies, it is advisable to allocate the functions of controlling accounts receivable to a special department.

Additional and related functions

Taxes

The functions of the financial control department may include reducing the tax burden by developing optimization and planning methods tax schemes. In fact, this is a related function of the chief accountant, but it all depends on the distribution of responsibilities in the enterprise.

IN large holdings It is advisable to create a tax consultant position or a tax department.

Treaties

In business sectors based on contractual activities with buyers and suppliers, it is extremely important to establish control of financial specialists over newly concluded contracts. On the one hand, this will reduce the number of financial errors when concluding a contract, such as:

1. Incorrect calculation of amounts and tariffs.
2. Invalid payment term.
3. Lack of price indexation for long-term contracts.
4. Existence or vice versa does not include fines.
5. Etc.

On the other hand, this will allow financiers to include new contracts in planning, extract key data from them, and maintain a portfolio of contracts.

Capital investments

At a certain stage of development for an enterprise, it becomes obvious that fixed assets need to be managed especially carefully, because their cost is enormous. And with the help of competent management, you can save a significant amount on payments, taxes and free up funds for working capital. Management capital investments The financial control department or a specially designated unit is also involved.

Financial investments

When a company has available cash or retained earnings which can bring additional income, the financier’s task becomes their profitable investment.

On a small scale, the financial director is tasked with managing financial investments. And when volumes grow, it is advisable to allocate for management Investment analyst or create an investment department

Business processes

In process-oriented companies, the question is always acute: “Who will participate in the development of processes from the company?” Due to their mentality, financiers usually cope well with this and are willingly included in various project teams. In addition, finance professionals are required to be aware of key business processes so they know where to turn for information.

KPI

A very common practice is to assign the finance department to be responsible for calculating KPIs, especially if they (KPIs) are not numerous or complex. Otherwise, this is the area of ​​responsibility of a dedicated division of the KPI department.

But the development of KPIs should not be completely delegated to financiers, because in the end you will get good KPIs for a stagnating business, but not for rapid development.

Financial department structure

The structure of the financial department depends on the specific development tasks of the company. The division has basic functions (budgeting, management accounting, internal control, preparation of financial statements) and there are additional ones. The latter may vary depending on the priorities of the current stage of development of the company.

Table. An example of the structure and staff of an enterprise’s financial service

Names of structural units and positions	Structural strength
	current	reserve
Financial Director
Financial Controlling Department
Head of Department - Management Accounting Specialist
Financial manager for budgeting and planning
Financial specialist of the 2nd category
Financial analyst
Treasury Department
Head of Department - Treasurer
Loan officer
Financial specialist 1st category
Control and audit department
Head of Department - Chief Auditor
Department accounting and reporting
Department head ( Chief Accountant)
Deputy Chief
Accountant
Accountant-cashier
IT support service
Head of Department
Programmer
Financial block

We've covered most of the functions of the finance department and hope that this article will help you create an effective and not overstaffed department.

2. Financial service of the enterprise, its structure and relationship with others

divisions of the enterprise

Financial service – an independent structural unit that performs certain functions in the enterprise management system (Fig. 2.4). Typically this department is the finance department. Its structure and number depend on the organizational and legal form of the enterprise, the nature of financial activities, production volume, and the number of employees at the enterprise.

Rice. 2.4. The purpose and objectives of the financial service

The financial service performs numerous functions. The main ones are financial planning, the financial analysis, financial control and financial management. The functions of the financial service are built in full accordance with the content of financial work at enterprises (Fig. 2.5).

Rice. 2.5. Approximate structure of the financial service

The financial service is part of a unified business management mechanism, and therefore it is closely related to other services of the enterprise, and therefore it is closely related to other services of the enterprise.

Thus, as a result of close contacts with the accounting department, the financial service is presented with production plans, lists of creditors and debtors, documents on the payment of wages to employees, the amount of funds in its accounts, and the amount of upcoming expenses. In turn, the financial service, processing this information and analyzing it, gives a qualified assessment of the solvency of the enterprise, the liquidity of its assets, creditworthiness, draws up a payment calendar, and prepares analytical reports on other parameters financial condition enterprise and introduces the accounting department to financial plans and analytical reports on their implementation, which is guided by this information in its daily activities.

From the marketing department, the financial service receives product sales plans and uses them when planning income and drawing up operational financial plans. To carry out a successful marketing company The financial service justifies selling prices, approves the system of concessions in the contract price, analyzes sales and marketing costs, carries out a comparative assessment of the competitiveness of the enterprise's products, optimizes its profitability, thus creating conditions for concluding major transactions (Fig. 2.6).

The financial service has the right to demand from all services of the enterprise the actions necessary for the quality organization of financial actions and financial flows. It also has jurisdiction over the following: the most important characteristics activities of the enterprise, such as its image, business reputation.

Rice. 2.6. The relationship between the financial service of the organization and other departments

Like any management system, financial management consists of two subsystems: the management object and the management subject.

Rice. 2.7. System financial management In the organisation

The object of control in financial management is the cash turnover of a business entity, which is a flow of cash receipts and payments. Each direction of spending funds must correspond to certain sources: in an enterprise, sources include: equity and liabilities, which are invested in production and take the form of assets. In general, the constant cash flow process is shown in Fig. 2.7.

The process of managing cash flow largely consists of forecasting long-term cash flows and assessing its impact on the financial condition of the enterprise.

The subject of management is the financial service, which develops and implements the strategy and tactics of financial management in order to increase the liquidity and solvency of the enterprise through the receipt and effective use of profits.

The specific structure of the financial service largely depends on the organizational and legal form of the enterprise, its size, the range of financial relations, the volume of financial flows, the type of activity and tasks set by the company's management. Therefore, the financial service can be represented by various formations (Fig. 2.8).

Rice. 2.8. Types of financial services depending on the size of the enterprise

The financial department of an enterprise usually consists of several bureaus responsible for individual areas of financial work: a planning bureau, a banking operations bureau, a cash operations bureau, and a settlement bureau. Special groups are created within each bureau. The functions of each group are determined by detailing the functions of the bureau.

The financial directorate of an enterprise combines the financial department, economic planning department, accounting, marketing department and other services of the enterprise.

These services are subordinate to the vice president for finance (Fig. 2.9).

Rice. 2.9. Organizational structure of organization management

Concentration in the hands of one directorate of the main enterprise management services significantly increases the possibilities of regulatory influence on financial relations and financial flows. In this option, the financial service not only successfully records the quantitative parameters of the enterprise’s activities, but also, thanks to direct participation in the development of financial strategy and tactics of an enterprise, largely determines their quality.

When determining the content of the work of the financial directorate (financial manager), it is important to note that it either represents part of the work of the top echelon of the enterprise’s management apparatus, or is associated with providing it with analytical information, with which it is possible to make decisions in the field of finance.

The Directorate as a whole and each of its divisions operate on the basis of the Regulations on the Financial Directorate, approved by the management of the enterprise. It clearly reflects the general aspects of the organization and structure of the financial service, defines specific tasks and functions, relationships with other divisions and services of the economic entity; rights and responsibilities of the directorate. The tasks facing the financial directorate and its divisions cover all areas of the enterprise.

Financial managers play an important role in managing the financial activities of an enterprise.

In his work, the financial manager is based on current legislation in tax, currency, financial and credit areas, based on an assessment of the economic situation in the country and global financial markets. Two functional managers are subordinate to him - the controller and the treasurer. There are no clear distinctions in the work of the controller and treasurer; their job responsibilities are different companies vary depending on the policies pursued by them and personal qualities (Fig. 2.10).

Rice. 2.10. Functions of the controller and treasurer in the financial activities of the organization

The functions of the controller are primarily internal in nature. They consist of maintaining accounting records, tracking document flow and monitoring the financial results of past and current business activities. The controller is, in fact, the chief accountant of the company and management entrusts him with compiling financial reports, tax returns, annual reports.

The Treasurer's activities are aimed at solving global issues of ensuring financial stability companies. The treasurer manages the capital of the enterprise entrusted to him, that is, he forms it optimal structure, assesses capital costs, manages cash flow, attracts long-term and short-term loans, organizes settlements with customers.

The treasurer concentrates his efforts on maintaining the liquidity of the enterprise, collecting cash on obligations and increasing funds to achieve the company's goals. While the controller is paying attention Special attention profitability, the treasurer gives special meaning, cash flow, managing accounts receivable and company payments. By constantly dealing with these issues, the treasurer can promptly recognize signs of bankruptcy and prevent it.

The financial manager is usually involved in the work as employee under a contract that strictly defines his functional responsibilities, procedure and amount of remuneration. In addition to salary, a financial manager belonging to the top management apparatus, based on the results of the enterprise’s activities, can receive remuneration in the form of a percentage of net profit. Its size is determined supreme body management of an economic entity: meeting of shareholders, meeting of founders, board of the enterprise. In some countries (USA, Japan), chief financial managers own a stake in the company.

Forming a financial department at an enterprise is a responsible task. The functions of the financial department are constantly expanding and being formed based on the tasks, the solution of which is the responsibility of the head of the financial department.

Functions of the financial service:

• Financial control is one of the main tasks of the financial service, which is to formulate plans and monitor their implementation. The performance of this function is associated not only with accounting and analysis, but also with control over the execution of business processes of the enterprise.

Figure 1. Monitoring the execution of the cash flow budget using the example of the software product “WA: Financier”.

• Treasury Department. Managing the company's funds, creating a payment calendar, monitoring the status of mutual settlements - all these are functions of the treasury and their importance cannot be underestimated.
• Organization and maintenance of accounting and tax records. This function does not require much explanation. The only thing I would like to focus on is the distinction between the functions of the Chief Accountant and financial director(Head of financial department). The responsibility of the chief accountant is maintaining regulated and tax accounting in accordance with legal requirements, timely generation of accounting and tax reporting, reflection of the facts of the company’s economic activities on accounting registers. The responsibilities of the head of the financial department are to plan the company’s activities, its financial result, including in the context of constantly changing legislation. The tax planning function is the direct responsibility of the company's financial director. The subordination structure of the Chief Accountant is also a topic for a separate discussion. On the one hand, the chief accountant is included in the area of ​​responsibility of the financial director and must report to him, on the other hand, in accordance with the law “on accounting”, the chief accountant reports directly to the General Director of the organization. The simplest way out in this situation is the dual subordination of the chief accountant.

It should be understood that in a particular company, the work scheme of the financial department may not limit the tasks facing the financial director in the process of organizing the department.

Once the responsibilities of the financial department have been determined, you can begin to form its structure.

The work of the financial service can be organized according to the following scheme:

Figure 2. Structure of the financial service.

At the same time, the “Contractual Department” and “IT Department” divisions are not part of the FEO, but are strategically subordinate to the Financial Director.

The simplest thing is to allocate a separate service to implement each function.

But no one bothers you to split a function into several services or, conversely, to combine several functions into one service.

Having determined the structure and tasks of the financial department, it is necessary to begin developing internal regulations.

Regulations of the financial department

What do financial service regulations include?

The regulations of the financial department are a set of provisions, rules, instructions regulating business processes, the owner of which is the financial director, and as basic ones (budgeting, accounting, raising financing, making payments; regulated accordingly by budget, accounting, credit policies, payment procedures, preparation of financial statements) and directly related to the management of personnel of the financial service of the enterprise. The latter are often called HR processes.

In the process of developing, agreeing and approving documents regulating these processes, many issues related to the number of financial service employees, the requirements for their qualifications, and the wage fund are eliminated. When requirements for functional responsibilities employees on the part of the company's management, regulatory documents approved earlier will minimize potential conflicts, change staffing levels and revise wages.

Figure 3. The approval process using the example of the software product “WA: Financier”.

The set of tasks of the financial department, its regulations and structure form the basis for the formation of the final document - the Regulations on the financial service of the enterprise.

This provision is an internal regulatory document that has the following structure:

1. Organizational and functional structure of the financial service. Typically, an organizational structure is an organizational chart highlighting departments and describing their functions. For HR planning purposes, it is useful to display information on the number of staff units (existing and planned) on a diagram.

2. Structural and staffing levels of the financial service. Usually this information is formed in the form of a table with the obligatory indication of the names of departments, positions, number of existing and vacant staff units.

3. The main goals and objectives of the financial service. This section of the regulations describes the goals formulated taking into account the company’s development strategy, and the tasks that need to be solved to achieve them. Tasks are defined for each department.

4. Matrix of functions. This is a table in which the functions of the financial service are located vertically, and organizational units, that is, managers and key employees, horizontally. service departments s. At the intersection of the lines and the graph, a mark is made (who is responsible for what). The function matrix gives an idea of ​​the possible workload of departments and allows you to optimally group functions by department.

5. The procedure for interaction between financial service employees. Usually there is an internal order of interaction - between individual employees and (or) structural divisions company and external – with individuals(for example, especially large clients) or government (commercial) organizations. The procedure for interaction is developed taking into account the organizational structure of the company as a whole, the functions and tasks of its other divisions, established principles and traditions.

Figure 4. The order of employee interaction using the example of the software product “WA: Financier”.

6. Resolution procedure conflict situations. This section details the procedure for filing an appeal or expressing disagreement along the “ CEO– financial director – head of the financial and economic department – ​​ordinary employee.” This applies to any questions and proposals (task received, decision made, disproportionate compensation, reward or punishment), including innovative ones, that may arise both for the employee and his immediate supervisor.

7. A system of indicators that allows you to evaluate the work of the financial director and financial service. This section includes lists and descriptions of indicators, upon fulfillment of which the work of the financial director and his subordinates is considered successful. Indicators must be specific and measurable.

8. Final provisions. This part sets out the procedure for coordination and approval of the Regulations, its validity period, the procedure for making changes, familiarization of employees with the Regulations and the procedure for its storage.

If the head of the financial service is the financial director, then his activities are regulated by the job description of the financial director. If the planning and financial department is separated into a separate division, then when developing the job description of the head of the financial department, you need to use general rules formation of job descriptions.

Detailed job description usually includes the following items:

1. General provisions– description of the document, position, who appoints the employee to this position, etc.

2. Qualification requirements. The requirements for the level of education of a specialist in this position are formulated, and the set of skills necessary to perform job duties is described.

3. Job responsibilities. The more detailed this section is filled out, the fewer questions the specialist will have about the need to perform certain tasks. Therefore, this section should be the most complete statement of all possible tasks performed by a specialist.

4. Criteria for successful execution labor responsibilities. This section is quite difficult to fill out, since it is not always possible to formulate these criteria. It makes sense to describe only those criteria whose fulfillment can be monitored.

5. Rights of a specialist. The company's responsibilities to the specialist are described. This includes timely payment of wages, organization of the workplace and technological infrastructure, compliance with sanitary standards, etc.

6. Rights and responsibilities of the manager. This point complements the previous one. It contains clarifications of the duties and powers of the specialist’s immediate supervisor.

7. Responsibility of the specialist. A clause that describes what the employee is directly responsible for and contains information about possible penalties for failure to fulfill official duties.

It is worth noting that the effective operation of the financial department is impossible without a high-quality information system.

More and more organizations are choosing a solution on the 1C platform - “WA: FINANCEIST”, which is a line of software products for automating financial management in medium and large businesses.

“WA: FINANCE” modules:

• Treasury, BDDS
• Budgeting of income and expenses, BBL, etc.
• Accounting and reporting according to IFRS
• Management accounting according to corporate standards
• Contract management: from approval to execution

Figure 5. Formation of ODDS by direct and indirect methods using the example of the software product “WA: Financier”.

Using “WA: FINANCE”, financial departments of enterprises effectively solve the following tasks:

• Forecasting the financial condition of an enterprise and modeling economic indicators business, determination of planned results.
• Convenient and error-free planning / control of income, expenses and cash flows companies.
• Optimizing the use of money, increasing financial efficiency and business sustainability.
• Increasing the liquidity and profitability of the business, including by minimizing the use of borrowed funds.
• Improving the quality and validity of management decisions and transparency of the Business as a whole.
• Timeliness and reliability of financial reporting according to international or corporate standards.
• Complete order in working with contracts: storage, approval, and comprehensive control.
• Increasing financial discipline in the company as a whole and the degree of personal responsibility of employees.
• Reducing labor costs, increasing convenience and minimizing mistakes of financiers in everyday work.

See the following sections for more details.