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Finance The finance department of a business manages money for the business/company. The department records the financial transactions of a business and helps it plan for the future financially. Activities of the finance department Recording all the financial maters of a business/company Businesses and company's are constantly spending money or receiving it from the sale of its goods or its services. It is important that a business keeps a record of all this so that the business can: * Calculate whether the business has made a profit or not * Assess how much tax the business is going to have to pay * Help managers to make decisions financially Preparing annual accounts and reports All businesses make accounts to summarise their financial transactions during that year. Large companies and big businesses have to legally publish a detailed account of their transactions throughout the year. The most important parts which make up these accounts are: * The balance sheet, which shows...

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