THE ROLE AND SIGNIFICANCE OF FINANCE IN COMPANIES Cover Image

РОЛЯТА И ЗНАЧЕНИЕТО НА ФИНАНСИТЕ ВЪВ ФИРМИТЕ
THE ROLE AND SIGNIFICANCE OF FINANCE IN COMPANIES

Author(s): Ardit Haxhija
Subject(s): Economy, Accounting - Business Administration
Published by: Висше училище по застраховане и финанси (ВУЗФ)
Keywords: finance; Financial management

Summary/Abstract: In today's business environment, companies cannot operate without an efficient supply of financial resources. Financial assets are the lifeblood of all organizations. Accounting and finance as separate departments are at the center of every company and are responsible for ensuring efficient financial management and financial controls necessary to support the realization of business activities. The accounting and finance departments is at the centre of any organization and is responsible for ensuring the efficient financial management and financial controls necessary to support all business activities. For companies to achieve financial success, it's important for them to have a financial strategy with thorough oversight for the entire company. The finance department oversees income and expenses throughout a company to ensure that it can sustain its operations and invest in expansion. Running a company requires effective management of resources. Finances, human, industry knowledge, and infrastructure are the resources required for running a business. Financial resources are the most important for starting and running a business. The finance function refers to practices and activities directed to manage business finances. The functions are oriented toward acquiring and managing financial resources to generate profit. The financial resources and information optimized by these functions contribute to the productivity of other business functions, planning, and decision-making activities.

  • Issue Year: 4/2023
  • Issue No: 8
  • Page Range: 28-39
  • Page Count: 12
  • Language: English