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1. General Provisions
1.1. Financial department, being an independent structural subdivision of the enterprise, is created and liquidated by order of [name of the position of the head of the enterprise].
1.2. The department reports directly to [name of the position of the head of the enterprise, commercial director].
1.3. The department is headed by a chief appointed to the position by order of [name of the position of the head of the enterprise].
1.4. The head of the finance department has [insert as appropriate] deputy(s).
The duties of the deputy(s) are determined by the head of the finance department.
1.5. Deputy(s) and heads of structural units (bureaus, sectors, etc.) in the financial department, other employees of the department are appointed to positions and dismissed from positions by order of [name of the position of the head of the enterprise] on the proposal of the head of the financial department.
1.6. In its activities, the department is guided by:
the Charter of the enterprise;
By this provision;
Legislation Russian Federation;
1.7. [Enter as required].
2. Structure
2.1. The structure and staffing of the department is approved by [name of the position of the head of the enterprise], based on specific conditions and features enterprise activities on the proposal of the head of the financial department and in agreement with the [human resources department, department of organization and remuneration].
2.2. The financial department may include structural units (services, bureaus, groups, sectors, etc.).
For example: a bureau (sector, group) of financial and credit activities, a bureau (sector, group) of financial and investment activities, a bureau (sector, group) of accounting for fixed assets and intangible assets, a bureau (sector, group) valuable papers, bureau (sector, group) of methodology and taxation, bureau (sector, group) of operating expenses, bureau (sector, group) of analysis of financial and economic activity, bureau (sector, group) of financial planning.
2.3. Regulations on subdivisions of the financial department (bureaus, sectors, groups, etc.) are approved by the head of the financial department, and the distribution of duties between the employees of the subdivisions is carried out by the [heads of the bureau, sectors, groups; deputy heads of the financial department].
2.4. [Enter as required].
3. Tasks
The financial department provides the following tasks:
3.1. Organization of the financial activity of the enterprise with the aim of the most efficient use of all types of resources in the process of production and sale of products (works, services) and obtaining maximum profit.
3.2. Implementation of a unified enterprise policy in the field of finance.
3.3. Usage control working capital enterprises, loans.
3.4. Analysis of the financial and economic state of the enterprise.
3.5. Development of credit policy of the enterprise.
3.6. Development of accounting and tax policy.
3.7. Management of working capital, accounts payable and receivable, as well as costs.
3.8. Ensuring the timeliness of tax payments to the budget, settlements with creditors and suppliers.
3.9. Creation of conditions for the effective use of fixed assets, labor and financial resources of the enterprise.
3.10. [Enter as required].
4. Functions
The following functions are assigned to the financial department:
4.1. Development of the financial strategy of the enterprise and the basis for its financial stability.
4.2. Management of the movement of financial resources of the enterprise and regulation of financial relations arising between business entities in order to most effectively use all types of resources.
4.3. Drafting of prospective and current projects financial plans with all necessary calculations.
4.4. Preparation of materials for drawing up a business plan for the enterprise.
4.5. Participation in the preparation of draft plans for the sale of products (works, services), capital investments, scientific research and developments.
4.6. Development of forecast balances and budgets Money.
4.7. Participation in cost planning and profitability of production.
4.8. Development of profit expectation forecasts, calculation of income tax, preparation of profit distribution plans for the year and quarters.
4.9. Determining the need for own working capital and calculating the norms of working capital, planning measures to accelerate their turnover.
4.10. Work on finding own funds and attracting borrowed funds.
4.11. Determination and implementation of investment policy, participation in the search for additional investment and financial resources.
4.12. Interaction with credit institutions on the provision of credit resources. Preparation and submission of loan applications and quarterly cash plans to banks and credit institutions.
4.13. Organization of work on the conclusion of agreements on the provision of loans. Financial processing of received loans.
4.14. Work on the timely repayment of loans and the return of received credit funds in a timely manner.
4.15. Ensuring the implementation of credit plans, including the payment of interest on the loan.
4.16. Development of a strategy for the withdrawal of the company's securities to stock market with the determination of the costs of using various stock instruments:
Determining the type of securities (shares, bills, bonds);
Selection of a primary securities dealer or portfolio investor and agreeing with him the terms of sale and trading platform for primary trading;
- [fill in as needed].
4.17. Work with securities (acquisition of shares, bonds, etc.), control over the portfolio of securities.
4.18. Determining the amount of expenses for the payment of dividends on the company's shares.
4.19. Management of enterprise assets, determination of their optimal structure, preparation of proposals for the replacement and liquidation of assets.
4.20. Determination of sources of financing of capital investments. Development and approval of the capital investment plan.
4.21. Determining the procedure and conditions for financing capital or current repairs of fixed assets, drawing up proposals for attributing expenses to the cost of production.
4.22. Ensuring timely receipt of income.
4.23. Execution of financial settlement and banking operations in a timely manner, including the presentation of payment requests, orders and other settlement documents to banks, receipt of documents for the shipment of products, invoice statements.
4.24. Maintaining operational records of financial, settlement and credit operations performed by the enterprise on accounts in banks and credit institutions.
4.25. Compliance with the cash balance limit set by the servicing bank in the cash desks of the enterprise in accordance with the calculation for setting a cash balance limit for the enterprise and issuing permission to spend cash from the proceeds received by its cash desk.
4.26. Ensuring timely receipt of funds for shipped products (work performed, services rendered), as well as timely payment of invoices of suppliers and contractors for shipped material values(work performed, services rendered) in accordance with the concluded contracts.
4.27. Organization of work on the transfer of payments and contributions for taxes and fees to the federal budget, the budgets of the constituent entities of the Russian Federation, the local budget.
4.28. Preparation of necessary materials for mutual offsets.
4.29. Development and implementation of measures that contribute to the timeliness of payments, the choice of forms of settlement with counterparties and ensuring compliance with the rules for conducting settlements.
4.30. Drawing up and submission to the tax authorities of the established documentation on the financial and economic activities of the enterprise.
4.31. Ensuring the timeliness and completeness of payments wages employees of the enterprise.
4.32. Ensuring financing of expenses provided for by financial plans, capital investment plans.
4.33. Participation in the development of proposals aimed at:
Ensuring solvency;
Prevention of the formation and liquidation of unused inventory items, excess stocks;
Increasing the profitability of production;
Increasing profit;
Reduction of costs for production and sale of products;
- [fill in as needed].
4.34. Implementation of measures to strengthen financial discipline at the enterprise.
4.35. Keeping records of the movement of funds and reporting on the results of financial activities in accordance with the standards financial accounting and reporting.
4.36. Control over the correctness of the preparation and execution of reporting documentation.
4.37. Ensuring the reliability of financial information.
4.38. Bringing the indicators of financial plans and the tasks arising from it to the structural divisions of the enterprise.
4.39. Monitoring the implementation of financial plans structural divisions.
4.40. Compilation and submission to the management of the enterprise:
Information about the receipt of funds;
Reports on the progress of credit and financial plans;
Information about the financial condition of the enterprise;
- [fill in as needed].
4.41. Ensuring the implementation of financial, credit and cash plans.
4.42. Identification of possible financial risks, their assessment in relation to each source of funds.
4.43. Development of the enterprise's monetary policy.
4.44. Development of proposals to reduce financial risks and insurance programs.
4.45. Determination of the enterprise strategy in the field leasing operations, implementation of leasing financing.
4.46. Development of measures for the sale, leasing and pledge of part of the assets, liquidation or conservation of individual capacities and facilities (including unprofitable, mobilization).
4.47. Maintaining daily operational accounting of financial plan indicators, including accounting for:
Volumes of products sold;
Profits from sales;
- [fill in as needed].
4.48. Analysis of the financial and economic activities of the enterprise quarterly and in general for the year.
4.49. Participation in determining the types of products (works, services) that are not in demand on the market, developing programs and measures to stop the production of such products.
4.50. Participation in pricing certain types products (works, services).
4.51. Determining the amount of funding for research, development and design and survey work in accordance with estimates and contracts agreed with the structural divisions of the enterprise.
4.52. Coordination of contracts for the performance of research and development work in terms of the reasonableness of the cost of work, as well as compliance with the terms of payment for work.
4.53. Determination of directions and volumes of financing by the enterprise social programs(children's preschool institutions, educational institutions, charity events, etc.).
4.54. Control for:
Fulfillment of financial plans and budget, product sales plans, credit and cash plans, profit plans and other financial indicators;
Termination production, not having a market;
Correct and efficient use of funds;
Target use of own and borrowed working capital for structural divisions and for the enterprise as a whole;
Compliance with cash discipline;
The correctness of the preparation, execution and approval of estimates, calculations of the payback of capital investments;
- [fill in as needed].
4.55. Participation in the determination of financial conditions in the concluded business contracts, examination of draft contracts submitted by counterparties.
4.56. Analysis of the production, economic and financial activities of the enterprise, forecasting the results of the financial and economic activities of the enterprise.
4.57. Analysis of accounting and statistical reporting.
4.58. Providing departments of the enterprise with instructive materials related to the financial activities of the enterprise.
4.59. Development of guidelines on financing operating expenses, capital investments, and other activities.
4.60. Consideration of appeals and letters of citizens and legal entities on issues within the competence of the financial department, organization of inspections, preparation of relevant proposals.
4.61. Participation in holding meetings-seminars with employees of economic, financial and accounting departments.
4.62. Ensuring the protection of information resources (own and received from other organizations) containing restricted access information.
4.63. Formation of complete and reliable information about business processes and financial results activities of the enterprise necessary for operational management and management.
4.64. Timely warning negative phenomena in the financial and economic activities of the enterprise, the identification and mobilization of on-farm reserves.
4.65. Development of transparency measures financial condition enterprises (based on the improvement of management accounting, the transition to international standards accounting).
4.66. Development of draft guidance materials on financing, accounting, reporting and other financial and economic aspects related to the competence of the department, and submitting them for consideration and approval to the relevant structural divisions of the enterprise.
4.67. Participation within its competence in the consideration of issues related to the creation of new enterprises, reorganization and liquidation of structural divisions of the enterprise.
4.68. [Enter as required].
5. Rights
5.1. The financial department has the right:
Give instructions in the framework of control over financial and economic activity enterprises for the preparation of financial documentation;
Require and receive from other structural divisions of the enterprise the data of the analysis of the economic activity of the enterprise, necessary for the activities of the department;
Conduct correspondence on the methodology of financial accounting and reporting, as well as on other issues that are within the competence of the department and do not require agreement with the head of the enterprise;
Do not accept for execution and execution documents on operations that are contrary to the law, violate contractual and financial discipline without a corresponding order from the director of the enterprise and the head of the legal department;
Represent in the prescribed manner on behalf of the enterprise on issues within the competence of the department in relations with tax, financial authorities, state non-budgetary funds, banks, credit institutions, other state and municipal organizations, as well as other enterprises, organizations, institutions;
Make proposals to the management of the enterprise on bringing the employees of the enterprise to material and disciplinary responsibility based on the results of inspections;
Conduct meetings on financial and economic activities of the enterprise;
In agreement with [name of the position of the head of the enterprise]
Or, as his deputy for commercial matters, involve experts and specialists in the field of financial consulting for consultations, preparation of opinions, recommendations and proposals.
5.2. The head of the financial department approves all documents related to the financial and economic activities of the enterprise (plans, contracts, reports, estimates, certificates, etc.).
5.3. The head of the financial department has the right to sign payment, settlement, credit and other financial documents, make proposals to the personnel department and the management of the enterprise on the movement of management employees, their encouragement for successful work, as well as proposals to impose disciplinary sanctions on employees who violate labor discipline.
5.4. [Enter as required].
6. Relationships (service relations)
Note. This section is given as an indicative one, since over time, official relations between structural and other divisions change (“polished”) and appropriate changes and additions are made to the regulations on divisions.
To perform the functions and exercise the rights provided for by this regulation, the financial department interacts:
6.1. With the department of the chief accountant on:
Receiving:
Lists of creditors and debtors;
Accounting information about the activities of the enterprise;
Balance and operational summary reports on income and expenditure of funds, on the use of the budget;
Reporting cost estimates for products (works, services);
Plans for conducting inventories of fixed assets, inventory items and cash;
Payroll calculations;
- [fill in as needed].
Provisions:
Financial, credit and cash plans;
Reports on repayment of loans, payment of interest on loans;
- [fill in as needed].
6.2. With the planning and economic department on:
Receiving:
Medium-term and long-term plans for the production activities of the enterprise;
Copies of planned economic tasks of the enterprise divisions;
Planned technical and economic standards for material and labor costs;
Projects of wholesale and retail prices for the company's products, tariffs for works and services;
Results economic analysis all types of activities of the enterprise;
- [fill in as needed].
Provisions:
Financial and credit plans;
Reports on the implementation of financial plans;
Financial analysis results;
Methodical and instructive materials on the financial activities of the enterprise;
- [fill in as needed].
6.3. With the logistics department on:
Receiving:
Promising and current plans material and technical support of the production activity of the enterprise;
Reporting data on the movement of material and technical resources, on their balances at the end of the reporting period;
Copies of claims filed by contractors;
Draft claims against contractors in case of violation of their contractual obligations;
Reports on the implementation of logistics plans;
- [fill in as needed].
Provisions:
Agreed draft claims;
Proposals to eliminate the causes that served as the basis for filing claims and sanctions against the enterprise;
- [fill in as needed].
6.4. With the sales department for:
Receiving:
Draft contracts and agreements for the supply, sale finished products;
Forecasts and plans for the sale of products;
Data on the state of stocks of finished products and their compliance with approved standards;
Plans and schedules for the shipment of products;
Data on the balance of products in warehouses;
Proposals for taking measures to reduce excess balances of finished products and accelerate sales operations;
- [fill in as needed].
Provisions:
financial plans;
Information about invoices not paid by counterparties;
Information of banks on letters of credit issued by buyers (customers);
Notifications on the application of financial sanctions to buyers (customers) who violated their obligations to transfer funds for purchased goods;
Approved calculations of working capital norms;
- [fill in as needed].
6.5. With the marketing department for:
Receiving:
Generalized data on the demand for products manufactured by the enterprise (work performed, services rendered);
Marketing plans;
Estimated costs for demand generation and sales promotion, advertising campaigns, participation in exhibitions, fairs, exhibitions and sales;
Information about competitive environment on issues of pricing policy, turnover volumes, competitiveness, speed of product sales;
- [fill in as needed].
Provisions:
Agreed cost estimates for demand generation and sales promotion with financial justifications;
Analysis of costs incurred per month (quarter, year);
- [fill in as needed].
6.6. WITH economic department for questions:
Receiving:
Plans for current and overhauls fixed assets of the enterprise (buildings, water supply systems, etc.);
Estimated business expenses;
Office equipment, forms of documents and stationery necessary for the work of the financial department;
Material assets necessary for servicing meetings, conferences, seminars;
- [fill in as needed].
Provisions:
Agreed cost estimates;
Calculations of the payback of capital investments for the introduction of new equipment, means of mechanization;
Applications for the necessary inventory and stationery;
Reports on the use and safety of equipment and inventory;
- [fill in as needed].
6.7. With the legal department on:
Receiving:
Decisions on the claims, claims brought by the enterprise;
Generalized results of consideration of claims, court and arbitration cases;
Explanations of the current legislation and the procedure for its application;
Legal assistance in claim work;
Agreed materials on the status of receivables and payables, proposals for the enforcement of debts;
Analysis of changes and additions to financial, tax, civil legislation;
- [fill in as needed].
Provisions:
Draft financial contracts for legal expertise;
Materials for filing claims, lawsuits in courts;
Conclusions on claims and lawsuits brought against the enterprise;
Documents on the transfer of funds for the payment of the state duty to satisfy the claims and lawsuits brought against the enterprise;
Applications for clarification of the current legislation;
- [fill in as needed].
6.8. From [name of the structural unit] on the following issues:
Receiving:
- [fill in];
- [fill in as needed].
Provisions:
- [fill in];
- [fill in as needed].
7. Responsibility
7.1. Responsibility for the proper and timely performance by the department of the functions provided for by this regulation lies with the head of the financial department.
7.2. The head of the financial department is personally responsible for:
Compliance with the legislation of instructions issued by the department, and instructions on the financial activities of the enterprise, financial accounting and reporting;
Preparation, approval and submission of reliable consolidated financial statements and compliance with the deadlines for its submission to the relevant divisions of the enterprise, the head of the enterprise, tax, financial and other authorities;
Providing the management of the enterprise with information on financial matters;
Timely, as well as high-quality execution of documents and instructions of the company's management;
Preventing the use of information by employees of the department for non-official purposes;
Compliance with the work schedule of the employees of the department.
7.3. The responsibility of employees of the financial department is established by job descriptions.
7.4. [Enter as required].
Head of structural unit
[initials, last name]
[signature]
[day month Year]
Agreed:
[official with whom the regulation is agreed]
[initials, last name]
[signature]
[day month Year]
Head of the legal department
[initials, last name]
[signature]
[day month Year]
The main functions of the finance department are to find inefficient processes and develop ideas to increase profits. Read what other tasks the financial service solves, what divisions it includes, and also download the regulations on the financial department.
The finance department can be compared to an oracle. The top manager asks questions:
- What is the forecast for the company's activities for three years?
- What can I do to improve my financial situation?
- Which of the divisions performed better and worse this year?
- How much money do I need to implement the project and where can I get it?
Download and get to work:
How to calculate the optimal number of financial service employees
If there are too few employees in the financial department, they cannot cope with the volume of work. A lot of them are 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
To determine how many specialists should work in the financial department of the enterprise, and what kind of specialists they should be, the scheme of functions and objects of the financial department will help.
|
Functions / Objects |
Planning |
Operational activities |
Analysis |
Creation / development |
|
Income and expenses |
Income and expense budget Business planning |
Coordination of requests for expenses, |
||
|
Price |
Calculation of the price of products from the cost price |
Daily, weekly and monthly reporting |
Plan-fact analysis, identification of inefficiency |
Regulations, procedures, forms, software |
|
Reporting (local, IFRS) |
Performing a broadcast RAS-IFRS |
Internal audit (see how to do it), analysis of key financial ratios |
Regulations, procedures, forms, software |
|
|
Management reporting |
Scheduled reporting package for internal and external users |
Reporting, auditing |
Analysis of key financial ratios |
Regulations, procedures, forms, software |
|
Cash |
Cash flow budget Payment schedule |
Coordination of applications for payments, Payment registers, Fundraising |
Plan-fact analysis, identification of inefficiency |
Regulations, procedures, forms, software |
|
Working capital |
Payment schedule, Working capital plan |
Control of DZ and KZ by the terms of the debt, Term 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 |
Approval of applications for investment |
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 should be given to finance. But it's not.
We will consider each object and functions in sequence and determine which employee should perform them.
The first block of company finance
Income and expenses
Financial Controller. The person who starts the finance department. The one who is first hired in the financial service, and as it grows, he often becomes a financial director.
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 are actively involved in the further improvement of management accounting, and daily routine tasks are performed by their subordinates. financial analysts.
IN large companies financial controllers and financial analysts work in dedicated units - departments financial control by areas of activity (by products, regions, types of expenses, etc.), where they are engaged in planning, accounting and analysis within their area. Sometimes it becomes necessary to bring planning into a separate function and create a planning department, or a budgeting department.
Price
Pricing functions are not too different from revenue and expense calculations. Therefore, they are performed either by the same financial controllers, if the enterprise is small, or by the Pricing Departments. All pricing and pricing policy management activities are carried out jointly with the Commercial Department, because financiers can give only one of the components of the price - cost and profit, the second component - the market, is not in their competence
Reporting (local, IFRS)
Maintaining local reporting, of course, is the responsibility of the accounting department. Whereas reporting under IFRS often handled by a financial controller, an IFRS specialist, or entire departments of IFRS.
If for one reason or another an enterprise needs a planned reporting package, then specialists from the financial control department can also make it on the basis of the BDR, BDDS and the investment budget.
Internal audit of local financial statements can puzzle the financial controller. Or create a department internal audit. It all depends on scale, of course.
External audits are usually carried out by a strong alliance 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
Management reporting is the responsibility of the financial department. Accordingly, the full cycle from planning to analyzing the results obtained lies with the financial controllers. Or, in the presence of a dedicated unit, on employees of the Management Reporting Department.
The second block of company finances
Cash
If in the calculation of income and expenses the financial controller was the main one, then in the management of funds the key figure is the treasurer. Short-term planning tools DS - payment calendar, and medium-term - the cash flow budget is in the area of his responsibility. On a daily basis, he coordinates requests for payment and forms registers of payments, monitors the profitable placement of DS on time deposits.
In small companies, the same financial controller can be the treasurer. But such a combination is effective only if the company conducts no more than 30 operations daily and it has well-automated business processes in finance.
The union of the treasurer and accountant works well in the payment area for medium-sized enterprises, and for large enterprises it is necessary to create a treasury department.
Working capital
Working capital management is a related field to cash management, so the treasurer also handles it. With large companies, it is advisable to allocate the functions of controlling accounts receivable to a special department.
Additional and related features
taxes
The functions of the financial control department may include reducing the tax burden by developing methods for optimizing and planning 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 position of a tax consultant or a tax department.
Treaties
In business sectors based on contracting with buyers and suppliers, it is essential to establish control of financial specialists over newly entered into contracts. On the one hand, this will reduce the number of financial errors when concluding a contract, such as:
- Incorrect calculation of amounts and tariffs.
- Incorrect due date.
- Lack of price indexation for long-term contracts.
- Existence or vice versa is not the inclusion of penalties.
- Etc.
On the other hand, this will allow financiers to include new contracts in planning, remove key data from them, and maintain a portfolio of contracts.
Capital investments
At a certain stage of development, it becomes obvious for an enterprise that fixed assets need to be managed especially carefully, because their cost is huge. And with the help of competent management, you can save a significant amount on payments, taxes and free up money for working capital. Capital investment management is also handled by the financial control department or a dedicated unit.
Financial investments
When an enterprise has free cash or retained earnings that can generate additional income, the task of the financier becomes their profitable investment.
In small volumes, the financial director is pitted with the management of financial investments. And when the volumes grow, it is advisable to allocate an Investment Analyst under the management 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 mindset, financiers are usually good at this and are willing to be included in various project teams. In addition, the financiers on duty must be aware of the basic business processes in order to know where to go for information.
KPI
A very common practice is to put the finance department in charge of calculating KPIs, especially if the KPIs are not numerous or complex. Otherwise, this is the area of responsibility of a dedicated unit of the KPI department.
And here KPI development you should not completely delegate to financiers, because in the end you will get good KPIs for a stagnating business, but not for rapid development.
Structure of the financial department
The structure of the financial department depends on the specific task of the company's development. The division has basic functions(budgeting, management accounting, internal control, financial reporting) and there are additional ones. The latter may vary depending on the priorities of the current stage of the company's development.
Table. Structure and staff example financial service enterprises
|
Name of structural divisions and positions |
Structural strength |
|
|
current |
reserve |
|
|
CFO |
||
|
Department of Financial Controlling |
||
|
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 of the 1st category |
||
|
Audit Department |
||
|
Head of department - chief auditor |
||
|
Department of Accounting and Reporting |
||
|
Head of department (chief accountant) |
||
|
Deputy Chief |
||
|
Accountant |
||
|
Accountant-cashier |
||
|
IT support service |
||
|
Department head |
||
|
Programmer |
||
|
financial block |
||
We have covered most of the functions of the finance department and we hope that the article will help you create an effective and not bloated department.
1. GENERAL PROVISIONS
1.1. This job description defines the functional duties, rights and responsibilities of the Head of the Financial Department.
1.2. The head of the financial department is appointed to the position and dismissed in accordance with the procedure established by the current labor legislation by order of the director of the enterprise.
1.3. The head of the financial department reports directly to ____________________________.
1.4. A person who has a higher professional (economic or engineering and economic) education and at least 5 years of professional experience in the field of organizing financial activities is appointed to the position of the Head of the Financial Department.
1.5. The head of the finance department should know:
Legislative and regulatory legal acts regulating production and economic and financial and economic activities; regulatory and methodological materials relating to the financial activities of the enterprise; prospects for the development of the enterprise; the state and prospects for the development of financial markets and sales markets for products (works, services); basics of production technology; organization financial work at the enterprise; the procedure for drawing up financial plans, forecast balances and cash budgets, plans for the sale of products (works, services), profit plans; a system of financial methods and levers that ensure the management of financial flows; the procedure for financing from the state budget, short-term and long-term lending to an enterprise, attracting investments and borrowed funds, using own funds, issuing and acquiring securities, calculating payments to the state budget and state extra-budgetary social funds; the procedure for allocating financial resources, determining the effectiveness of financial investments; normalization of working capital; procedure and forms of financial settlements; tax law; financial accounting and reporting standards; economics, organization of production, labor and management; Accounting; computer facilities, telecommunications and communications; basics labor law; labor protection rules and regulations.
1.6. During the period of temporary absence of the Head of the Financial Department, his duties are assigned to ___________________________.
2. FUNCTIONAL RESPONSIBILITIES
Note. The functional responsibilities of the Head of the Financial Department are determined on the basis and to the extent of the qualification characteristics for the position of the Head of the Financial Department and can be supplemented, clarified during preparation job description based on specific circumstances.
Head of Financial Department:
2.1. Organizes the management of the movement of financial resources of the enterprise and the regulation of financial relations arising between business entities in the market, in order to most effectively use all types of resources in the process of production and sale of products (works, services) and maximize profits.
2.2. Ensures the development of the financial strategy of the enterprise and its financial stability.
2.3. Manages the development of draft long-term and current financial plans, forecast balances and cash budgets.
2.4. Ensures that the approved financial indicators are communicated to the departments of the enterprise.
2.5. Participates in the preparation of draft plans for the sale of products (works, services), capital investments, research and development, planning the cost of production and profitability of production, leads the work on calculating profits and income tax.
2.6. Determines the sources of financing for the production and economic activities of the enterprise, including budget financing, short-term and long-term lending, issuance and purchase of securities, leasing financing, raising debt and using own funds, conducts research and analysis of financial markets, assesses the possible financial risk in relation to each source of funds and develops proposals for its reduction.
2.7. Carries out the investment policy and asset management of the enterprise, determines their optimal structure, prepares proposals for the replacement, liquidation of assets, monitors the portfolio of securities, analyzes and evaluates the effectiveness of financial investments.
2.8. Organizes the development of working capital standards and measures to accelerate their turnover.
2.9. Ensures timely receipt of income, execution of financial settlement and banking operations on time, payment of invoices of suppliers and contractors, repayment of loans, payment of interest, wages to workers and employees, transfer of taxes and fees to the federal, regional and local budgets, to state non-budgetary social funds, payments to banking institutions.
2.10. Analyzes the financial and economic activities of the enterprise, participates in the development of proposals aimed at ensuring solvency, preventing the formation and liquidation of unused inventory items, increasing the profitability of production, increasing profits, reducing production and sales costs, strengthening financial discipline.
2.11. It monitors the implementation of the financial plan and budget, product sales plan, profit plan and other financial indicators, the termination of production of unmarketable products, the correct spending of funds and the targeted use of own and borrowed working capital.
2.12. Provides accounting for the movement of funds and reporting on the results of financial activities in accordance with the standards of financial accounting and reporting, the reliability of financial information, controls the correctness of the preparation and execution of reporting documentation, the timeliness of its provision to external and internal users.
2.13. Manages department employees.
3. RIGHTS
The head of the financial department has the right to:
3.1. Give assignments to subordinate employees, tasks on a range of issues included in his functional duties.
3.2. Monitor the implementation of planned targets and work, the timely execution of individual orders and tasks.
3.3. Request and receive the necessary materials and documents related to the activities of the Head of the Financial Department.
3.4. Enter into relationships with departments of third-party institutions and organizations to resolve operational issues of production activities that are within the competence of the Head of the Financial Department.
3.5. Represent the interests of the enterprise in third-party organizations on issues related to the production activities of the enterprise.
4. RESPONSIBILITY
The head of the finance department is responsible for:
4.1. Results and efficiency of production activities of the department.
4.2. Failure to fulfill their functional duties, as well as the work of the department on the issues of its production activities.
4.3. Inaccurate information about the status of the department's work plans.
4.4. Failure to comply with orders, instructions and instructions of the director of the enterprise.
4.5. Failure to take measures to suppress the identified violations of safety regulations, fire safety and other rules that pose a threat to the activities of the enterprise, its employees.
4.6. Failure to ensure compliance with labor and performance discipline by personnel subordinate to the Head of the Financial Department.
5. WORKING CONDITIONS
5.1. The mode of operation of the Head of the Financial Department is determined in accordance with the Internal Labor Regulations established at the enterprise.
5.2. Due to production needs, the Head of the Financial Department may travel to business trips(including local importance).
5.3. To solve operational issues related to the provision of production activities, the Head of the Financial Department may be provided with official vehicles.
6. SCOPE AND IMPACT OF DECISIONS
6.1. The exclusive area of activity of the Head of the Finance Department is to ensure the planning and organization of the production activities of the Finance Department.
6.2. To ensure his activities, the head of the financial department is given the right to sign organizational and administrative documents on issues that are part of his functional duties.
Other instructions in the section:
This Regulation on the Financial Department discloses the main functions and tasks of the Financial Department, as well as the rights and obligations of the Financial Department.
REGULATIONS ON THE FINANCIAL DEPARTMENT
(ABOUT THE FINANCIAL AND ECONOMIC DEPARTMENT)
1. General Provisions
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1.1. This Regulation on the Financial Department (hereinafter referred to as the Department) of the Financial Department (hereinafter referred to as the Department) is an internal document of the Company that determines legal status, tasks and functions, structure and formation procedure, rights and responsibilities of the Financial Department.
1.2. The Financial Department is a structural subdivision of the Department and reports to the Head of the Financial Department, as well as to the Financial Director of the Company in accordance with organizational structure Companies and orders Director General Companies on the distribution of powers and responsibilities.
1.3. The Finance Department in its activities is guided by the legislation of the Russian Federation, the Charter of the Company, decisions of the Board of Directors of the Company, internal documents of the Company, instructions of the Head of the Financial Department, Financial Director and these Regulations.
1.4. The Financial Department interacts with the structural divisions of the Company in the manner determined by the internal documents of the Company.
2. Main tasks of the Finance Department
2.1.Implementation of financial strategy and financial policy Companies;
2.2. Organization of the financial activities of the Company for the purpose of efficient use of financial resources;
2.3. Development of forecasts economic development Companies and participation in the formation of key performance indicators.
2.4. Participation in the development of business plans, drawing up long-term and current financial plans and budgets of the Company and operational control of their implementation;
2.5. Providing the necessary financial operational, regular and analytical information to internal and external users;
2.6. Integrated economic and the financial analysis activities of the Company, development of measures to improve the efficiency of financial management, reduce financial risks and increase the profitability of the Company;
2.7. Control over compliance with financial discipline, timely and complete fulfillment of contractual obligations, expenses and income;
2.8. Interaction with counterparties and financial institutions within the competence.
3. Main Functions of the Finance Department
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