What structure is engaged in financial accounting in the enterprise. Organizational structure of the financial and economic service of an industrial enterprise. Planning Director
The financial management of the organization is an integral part of the entire system of the functioning of the enterprise. It is carried out using various methods and tricks. Financial management of an enterprise makes it possible to make important strategic decisions that will determine successful development organization and its solvency. Thanks to this system, the profits are used as efficiently as possible, which increases the value of the enterprise.
Planning is an important element of the financial management system. Its main goal is to determine and reconcile the expenses and incomes of the enterprise. Planning allows you to determine a development strategy and exclude the onset of bankruptcy due to mistakes in financial management.
Planning functions:
— Provision of financial resources.
— Determination of ways of effective investment of funds.
- Determination of ways to increase profits at the expense of the enterprise's reserves.
— Financial contacts with banks, budget, etc.
— Accounting for the interests of shareholders.
— Implementation of control over the state of the budget, solvency, creditworthiness of the organization.
Financial planning methods:
Financial planning is carried out using the following methods:
| Method | Purpose |
| Economic analysis | Defines internal reserves, financial indicators development |
| Normative method | Calculates the required budget size based on existing norms (for example, tax rate). |
| Balance calculations | Building a forecast of basic income and expenses |
| Cash flow forecast | Calculation of expected income and the timing of their receipt |
| Multivariate calculations | Create Multiple Choices scheduled calculations for further selection of the most successful option. |
| Economic and mathematical modeling | Determining the relationship between financial indicators and factors that influence their formation. |
Strategic Goals
The main goal of financial management is to maintain the welfare of the enterprise by constantly increasing it. market value. Making a profit in this moment time is not one of the goals of financial management, since this alone is not enough. The company can make risky financial transactions in order to get big profits. In such cases, the income received is not a guarantee of the stability of the organization and its prospects. further development. Making a profit at a given time, the organization may be on the verge of bankruptcy. The organization's welfare system includes the following strategic goals:
— Exclusion of the probability of bankruptcy. In order for an enterprise not to become bankrupt, it is important to constantly monitor the relationship between expenses and incomes, take into account changes in the economic situation in the whole country, carefully monitor the state of the budget and solvency, etc.
— Increasing production volumes. Constant progress and the planned development strategy are the key to stability and a constant increase in the profitability of the organization.
- Avoiding financial losses. It is necessary to take into account all possible financial risks when concluding transactions and minimize them.
— Ability to withstand competition and take a leading position in the market.
- Increasing the value of the organization. The market price of an enterprise is important for its owners, especially for shareholders (if it is a joint-stock company). The higher the price of a company, the higher the value of its shares. Income growth for members joint-stock company means an increase in Money, which they can receive when selling their share, liquidating the enterprise, or merging.
- Ensuring maximum profit for a specific period. The higher the profit, the greater the size of the capital of the owners of the enterprise. When calculating the profit, the favorable correspondence of the costs incurred for the production of products to the expected income from its sale is determined. The higher the expected profit, the greater the degree of material interest of the organization's management. It is important to understand that there is a direct relationship between the amount of expected profit and the degree of financial risk. Big profits are always achieved by making trades with a high degree of risk. Therefore, the financial managers of the enterprise must clearly assess the acceptable amount of financial risk and its feasibility.
— Ensuring solvency. Maintaining a balance between the inflow of funds and their expenditure is a way to ensure the constant solvency of the organization. This is achieved by strict observance of the terms of receivables, analysis of the solvency of debtors, timely repayment of the company's debts, etc.
— Formation of necessary financial resources. This goal implies an assessment of the need for resources, the maximum use of the internal resources of the enterprise, the use of resources from external sources, the attraction of financial resources from borrowers, the formation of the resource potential of the organization.
— Ensuring the financial stability of the organization. The stability of the enterprise is manifested in its financial stability, solvency, the possibility of independent financing of their material needs.
Tasks of financial management
Achieving the goals involves solving the following key tasks:
— Formation of a balanced movement of material, cash.
— Formation of the amount of financial resources required in a given period of time.
— Efficient use of resources in all areas of the organization.
— Ensuring financial stability.
— Achievement of financial independence.
- Maintaining solvency.
Elimination of inefficient activities.
- Profit maximization.
— Risk minimization.
— Ensuring continuous development.
— Evaluation of the correctness of the decisions made.
— Anti-crisis management (in order to avoid bankruptcy).
— Organization of a system of performance indicators, which is the key to financial stability.
Features of the organization of financial management
The effectiveness of financial management depends on the following conditions:
- Relationship with common system management. The financial management of an organization cannot be effective without interaction with other enterprise management systems. Financial management is directly related to the activity production department, innovation department, personnel department, etc.
- The complex nature of decision-making. Since all the structures of the enterprise are in direct interaction, the direction of financial flows to one department may lead to a lack of funding for another department. The effectiveness of financial management is manifested in an integrated approach to building and distributing cash flows.
- Dynamism. Financial management should be built on the basis of the current economic situation in the country and the conditions that exist in the enterprise. Techniques, indicators and standards that were effective and relevant in past periods may not be effective in this period of time. A sensitive response to the slightest changes in the financial situation and the timely development of the management system required at the moment make it possible to minimize the likelihood of an enterprise going bankrupt and maintain its solvency.
- Availability of alternative solutions to the tasks. Each management decision should be made after a thorough analysis of all options.
Classification of financial management functions
The financial management of the organization performs a number of functions aimed at ensuring stability, shaping the prospects for its further development. These features include:
| Function | Scope of application |
| The control | System organization internal control at the enterprise. Control over the fulfillment of the assigned tasks is carried out by subdivisions and departments specially created for this purpose. The control system includes the presence of certain indicators and periods of control. Based on the results of the obtained data, it is possible to judge the effectiveness enterprise activities make adjustments to work to further improve performance. |
| Strategy Development | On the basis of the development plan of the enterprise itself and the situation on the market as a whole, a strategy is formed that provides for further ways of developing the organization. The forecast is formed for the long term, taking into account all areas of the organization's activities. |
| Information function | Provides an explanation for all existing options financial solutions, determines the scale of financial needs, forms sources of information (internal, external), systematically monitors the financial condition of the organization and the entire economy as a whole. |
| organizational function | Accepted managerial regarding the activities of the organization. Financial management must clearly respond to any changes. The effective performance of this function becomes possible if there is an organizational structure with a clear hierarchy, in which each department performs its tasks under the control of its immediate supervisor. Departments that perform organizational functions should be in close cooperation with other structures of the enterprise. |
| Analysis | It implies an assessment of the financial situation that has developed at a given point in time, and a more thorough assessment for the long term. The results of the organization, specific departments, subsidiaries, branches, etc. are also analyzed. |
| Stimulation | It implies the creation of an incentive system for employees working in the management system (heads of departments, managers). Incentives help to interest employees in the effective implementation of management decisions. Employees are tasked with fulfilling plans, meeting deadlines, achieving established targets, complying with necessary standards, etc. When solving the tasks set by the management, employees of financial management units receive incentives in various forms. In case of non-fulfillment of the obligations assigned to them, employees are punished (withdrawal of bonuses, cancellation of privileges, etc.). |
Thus, financial management is an important element of the management structure of the organization. The main goal of financial management is not to receive a one-time profit, but to ensure the welfare of the enterprise as a whole. This is manifested in the implementation of a whole range of measures and techniques aimed at eliminating the likelihood of bankruptcy, efficient use of resources, maintaining solvency, increasing the market value of the company, etc. To achieve positive results, it is important to apply an integrated approach, dynamically respond to any changes in the economic situation, and interact with other management systems of the organization.
Added to site:
1. General Provisions
1.1. The 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. Boss financial department has [insert as appropriate] substitute(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. structure and staffing department approves [name of the position of the head of the enterprise], based on the specific conditions and characteristics of the enterprise's 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) of securities, a 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) 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 [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 financial strategy enterprise and base 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 long-term and current financial plans with the application of 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, research and development.
4.6. Development of forecast balances and cash budgets.
4.7. Participation in planning the cost of production 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 bringing the company's securities to the stock market with the determination of the costs of using various stock instruments:
Determining the type of securities (shares, bills, bonds);
Selecting a primary securities dealer or portfolio investor and agreeing with him the terms of sale and the 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 from suppliers and contractors for shipped material assets (work performed, services rendered) in accordance with the concluded agreements.
4.27. Organization of work on the transfer of payments and contributions for taxes and fees in federal budget, budgets of subjects of the Russian Federation, 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 payment 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 of 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. Implementation of control over the implementation of financial plans by structural units.
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 company's strategy in the field of leasing operations, the 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 performance records financial plan, including accounting:
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 for certain types of 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 of production of products that do not have 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 of the enterprise, necessary for operational management and management.
4.64. Timely prevention of negative phenomena in the financial and economic activities of the enterprise, identification and mobilization of on-farm reserves.
4.65. Development of measures to ensure the transparency of the financial condition of the enterprise (based on the improvement management accounting, 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 within the framework of control over the financial and economic activities of the enterprise on 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 transactions 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, bodies of 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 his deputy 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 for imposing disciplinary action 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 ("polish") and the regulations on divisions are amended and supplemented accordingly.
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 and long term plans production activities enterprises;
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:
Projects of long-term and current plans for the logistics of the production activities 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 of 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 the competitive environment on 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 major repairs of 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;
Drawing up, 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 issues;
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:
[executive, with which the provision is consistent]
[initials, last name]
[signature]
[day month Year]
Head of the legal department
[initials, last name]
[signature]
[day month Year]
1. The head of the financial department belongs to the category of managers.
2. A person who has a higher professional (economic or engineering-economic) education and at least 5 years of work experience in the field of organizing financial activities is appointed to the position of the head of the financial department.
3. Appointment to the position of head of the financial department and dismissal from
4. The head of the financial department must know:
4.1. Legislative and regulations regulating production and economic activities.
4.2. Regulatory and teaching materials relating to the financial activities of the enterprise.
4.3. Prospects for the development of the enterprise.
4.4. Status and prospects for the development of financial markets and sales markets for products (works, services).
4.5. Fundamentals of production technology.
4.6. Organization of financial work at the enterprise.
4.7. The procedure for drawing up financial plans, forecast balances and budgets of cash, plans for the sale of products (works, services), profit plans.
4.8. system financial methods and levers that ensure the management of financial flows.
4.9. 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, accruing payments to the state budget and state extra-budgetary social funds.
4.10. The procedure for the distribution of financial resources, determining the effectiveness of financial investments.
4.11. Rationing of working capital.
4.12. Procedure and forms of financial settlements.
4.13. Tax law.
4.14. Financial Accounting and Reporting Standards.
4.15. Economics, organization of production, labor and management.
4.16. Accounting.
4.17. Means of computer technology, telecommunications and communications.
4.18. Fundamentals of labor legislation.
4.19. Advanced domestic and Foreign experience improvement of the financial activity of the enterprise.
4.20. Rules and norms of labor protection.
7. The head of the financial department manages the employees of the department.
8. During the absence of the head of the financial department (business trip, vacation, illness, etc.), his duties are performed by a deputy (in the absence of such, a person appointed in the prescribed manner), who acquires the appropriate rights and is responsible for the proper execution of the tasks assigned to him responsibilities.
II. Job Responsibilities
Head of Financial Department:
1. Organizes the management of the movement of financial resources of the enterprise and the regulation of financial relations that arise between economic 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. Ensures the development of the financial strategy of the enterprise and its financial stability.
3. Leads the development of draft long-term and current financial plans, forecast balance sheets and cash budgets.
4. Ensures that the approved financial indicators are communicated to the departments of the enterprise.
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.
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 possible financial risk in relation to to each source of funds and develops proposals for its reduction.
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.
8. Conducts analysis and evaluation of the effectiveness of financial investments.
9. Organizes the development of working capital standards and measures to accelerate their turnover.
10. Provides:
10.1. Timely receipt of income, registration of financial settlement and banking operations in a timely manner.
10.2. Payment of invoices of suppliers and contractors.
10.3. Repayment of loans.
10.4. Payment of interest, wages to workers and employees.
10.5. Transfer of taxes and fees to the federal, regional and local budgets, to state extra-budgetary social funds, payments to banking institutions.
11. Analyzes the financial and economic activities of the enterprise.
12. 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.
13. Monitors:
13.1. Implementation of the financial plan and budget, product sales plan, profit plan and other financial indicators.
13.2. Termination of production of products that do not have a market.
13.3. Proper spending of money.
13.4. Targeted use of own and borrowed working capital.
14. 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.
15. Controls the correctness of the preparation and execution of reporting documentation, the timeliness of its provision to external and internal users.
16. Participates in holding conferences-seminars (studies) with employees of the main accounting department and the financial department of the enterprise.
17. Participates in the development of proposals for the social protection of employees of the enterprise.
18. Ensures the protection of information resources containing their own information of limited access and received from other organizations.
III. Rights
The head of the financial department has the right to:
1. Act on behalf of the department, represent the interests of the enterprise in relations with other structural divisions of the enterprise and other organizations on financial matters.
2. Install job responsibilities for his subordinates.
3. Submit proposals to improve the financial and economic activities of the enterprise for consideration by the management.
4. Submit for consideration by the director of the enterprise:
4.1. Representations on the appointment, transfer and dismissal of employees of the financial department.
4.2. Offers:
On the encouragement of distinguished employees;
Bringing to material and disciplinary responsibility violators of production and labor discipline.
6. Participate in the preparation of draft orders, instructions, instructions, as well as estimates, contracts and other documents related to the activities of the financial department.
7. Interact with the heads of all structural divisions on the financial and economic activities of the enterprise.
8. Give instructions to the heads of structural divisions of the enterprise on issues of proper organization and conduct of financial work.
9. Sign financial documents under the authority of the director of the organization.
10. Approval of all documents related to the financial and economic activities of the enterprise (plans, reports, etc.).
11. Independently conduct correspondence with structural subdivisions of the enterprise, as well as other organizations on issues within the competence of the department and not requiring the decision of the director of the enterprise.
12. Make proposals to the director of the enterprise on bringing officials to material and disciplinary responsibility based on the results of inspections.
2. The 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 unit is the finance department. Its structure and number depends on the organizational and legal form of the enterprise, the nature of financial activities, production volume, the number of employees in the enterprise.
Rice. 2.4. Purpose and objectives of the activity financial services
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 in enterprises (Fig. 2.5).
Rice. 2.5. Approximate structure of the financial service
The financial service is part of a single 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.
So, 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 salaries to employees, the amounts of money in his accounts, and the amounts of forthcoming expenses. In turn, the financial service, processing this information, analyzing it, gives a qualified assessment of the solvency of the enterprise, the liquidity of its assets, creditworthiness, draws up a payment calendar, prepares analytical reports on other parameters of the financial condition of the enterprise and acquaints the accounting department with financial plans and analytical reports on their implementation. , which in its daily activities is guided by this information.
From the marketing department, the financial service receives plans for the sale of products and uses it in income planning and operational financial plans. To conduct a successful marketing campaign, the financial service justifies selling prices, approves a system of concessions in the price of the contract, analyzes sales and marketing costs, performs a comparative assessment of the competitiveness of the company's products, optimizes its profitability, thus creating conditions for concluding large transactions (Fig. 2.6) .
The financial service has the right to demand from all services of the enterprise the actions necessary for the qualitative organization of financial actions and financial flows. In its competence are also such important characteristics of the enterprise as its image, business reputation.
Rice. 2.6. The relationship of the financial service of the organization with other departments
Like any management system, financial management consists of two subsystems: the object of management and the subject of management.
Rice. 2.7. Financial management system in an organization
The object of management in financial management is the cash flow of an economic entity, which is a flow of cash receipts and payments. Each direction of spending funds must correspond to certain sources: at the enterprise, the sources include equity and liabilities, which are invested in production and take the form of assets. In general, the constant process of cash flow is shown in Fig. 2.7.
The process of cash flow management largely consists in forecasting for the long term cash flow 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 efficient 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 certain areas of financial work: planning bureau, banking operations bureau, bureau cash transactions, clearing office. Special groups are created within each bureau. The functions of each group are determined as a result of detailing the functions of the bureau.
The financial management of the enterprise combines the financial department, the planning and economic department, the accounting department, the marketing department and other services of the enterprise.
These services report to the Vice President for Finance (Fig. 2.9).
Rice. 2.9. Organizational structure organization management
The concentration in the hands of one directorate of the main enterprise management services significantly increases the possibility of regulatory influence on financial relations and financial flows. In this case, the financial service not only successfully captures the quantitative parameters of the enterprise, but also, thanks to direct participation in the development of the financial strategy and tactics of the 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 a part of the work of the top management of the enterprise’s administrative apparatus, or is associated with the provision of analytical information to it, with which it is possible to make decisions in the field of finance.
The Directorate as a whole and each of its subdivisions 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 management. The tasks facing the financial directorate and its divisions cover all areas of the enterprise.
In control financial activities enterprises play an important role financial managers.
In his work, the financial manager is based on the current legislation in the tax, currency, financial and credit areas, proceeds from 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 the treasurer, they official duties in different companies differ depending on the policy 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 in maintaining accounting records, tracking document flow and monitoring the financial results of activities for past and current business activities. The controller is, in fact, the chief accountant of the company and the management entrusts him with the preparation of financial reports, tax returns, and the annual report.
The activities of the treasurer are aimed at solving global issues to ensure the financial stability of the company. The treasurer manages the enterprise's capital entrusted to him, that is, he forms its optimal structure, evaluates capital costs, manages cash flow, attracts long-term and short-term loans, and organizes settlements with buyers.
The treasurer concentrates his efforts on maintaining the liquidity of the enterprise, receiving cash from obligations and increasing funds to achieve the company's goal. While the controller focuses on profitability, the treasurer emphasizes cash flow by managing the company's receivables and payments. By constantly dealing with these issues, the treasurer can see the signs of bankruptcy in time and warn him.
A financial manager is usually employed as an employee under a contract that strictly defines his functional responsibilities, order and amount of wages. In addition to the salary, the financial manager, who belongs to the highest management apparatus, can receive remuneration in the form of a percentage of net profit based on the results of the enterprise's activities. Its size is determined by the supreme governing body of the economic entity: the meeting of shareholders, the meeting of founders, the board of the enterprise. In some countries (USA, Japan), chief financial managers own a stake in the company.
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The financial department is an independent structural subdivision of the enterprise and reports directly to the Deputy Director for Economic Affairs.
II. Tasks
Organization of the financial activities of the enterprise, aimed at providing financial resources for the tasks of the plan, the safety and efficient use of fixed assets and working capital, the labor and financial resources of the enterprise, the timeliness of payments for obligations to the state budget, suppliers and banking institutions.
III. Structure
1. The structure and staff are approved by the director of the enterprise in accordance with the standard structures of the management apparatus and the norms for the number of specialists and employees, taking into account the volume of work and production features.
2. The department may include divisions (sector, bureau, group) of financial planning, analysis of financial and economic activities, organization of settlements with suppliers, collection, cash transactions, etc.
IV. Functions
1. In the field of financial and credit planning
1.1. Drawing up in due time 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 fixed and working capital.
1.2. Compilation and submission of loan applications and quarterly cash plans to the higher organization and institutions of banks in a timely manner and participation in their consideration.
1.3. Participation in the preparation of a plan for the sale of products in monetary terms. Determination of the planned amount of balance sheet profit for the year and by quarters and profitability indicators.
1.4. Drawing up, together with the planning and economic department, planned calculations for the formation of economic incentive funds and participation in the preparation of estimates for their spending.
1.5. Determination of the planned amount of depreciation deductions divided into full restoration (renovation) of fixed assets a overhaul.
1.6. Participation in determining the need for own working capital by elements and calculation of working capital standards.
1.7. Drawing up a plan for financing centralized capital investments and a plan for financing the overhaul of fixed assets.
1.8. Drawing up plans for the distribution of balance sheet profit and depreciation.
1.9. Participation in the preparation of plans for financing research work on the basis of the envisaged scope of these works, as well as determining the sources of financing for plans for organizational and technical measures, taking into account the calculations of economic efficiency.
1.10. Planning the average annual cost of fixed production assets and fixed assets exempted from payment for funds.
1.11. Making settlements for filing claims with suppliers and contractors and for transferring export premiums.
1.12. Distribution of quarterly financial indicators by months.
1.13. Participation in the preparation of the VAT plan.
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 systematic monitoring of their observance and implementation.
1.15. Drawing up operational financial plans for the coming month and for intra-month periods.
1.16. Drawing up operational plans for the sale of products in monetary terms and plans for profit.
1.17. Participation in the preparation of operational schedules for the shipment of marketable products.
1.18. Implementation of control over the delivery of inventory items in order to prevent the accumulation of excess stocks.
1.19. Ensuring the implementation of financial, credit and cash plans.
2. In the field of financial and operational work
2.1. Ensuring on time:
payments to the state budget - for turnover tax, for production assets and other payments
interest payments on short-term and long-term loans;
contributions from own funds from profits, depreciation and other sources to finance centralized and non-centralized capital investments;
transfers of funds to special accounts (under the production development fund), etc.;
transfer of funds in the order of intradepartmental redistribution of profits; working capital, depreciation deductions, as well as funds for financing scientific research, development of new technology and other purposes provided for in the financial plan;
transfers of funds to centralized funds and reserves of a higher organization;
the issuance of wages to employees of the enterprise and the implementation of other cash transactions;
payment of invoices of suppliers and contractors for shipped material assets, services rendered and work performed in accordance with the concluded agreements;
payment of interest on credit on long-term and short-term bank loans.
2.2. Providing financing for the costs provided for by the plan.
2.3. Registration of requested loans in accordance with the current lending rules and ensuring the return of loans received in a timely manner.
2.4. Carrying out operations on the accounts of the association and the parent company in banking institutions.
2.5. Presentation to bank institutions of duly executed payment requests, other settlement documents for shipped products, services rendered and work performed; ensuring timely receipt of documents for the shipment of products, issuing invoices and taking measures to timely receive funds due from buyers.
2.6. Maintaining daily business records:
sales of products, profits from the sale of other financial indicators;
refusals of buyers to accept payment requests for shipped products, services rendered and work performed due to the reasons for refusals and taking appropriate measures on them;
fulfillment of other indicators of the financial plan.
2.7. Drawing up and submission to the management of the enterprise of information and certificates on the progress of the implementation of the main indicators of the financial plan and on the financial condition.
2.8. Drawing up and timely submission of the parent organization, financial authorities and institutions of banks of the established operational financial statements.
2.9. Implementation of measures that contribute to the acceleration of the turnover of funds in settlements.
2.10. Together with departments and services of the association:
consideration of claims and sanctions filed by buyers and customers, and development of proposals to eliminate the shortcomings that cause these claims;
Claims (together with the Legal Department) and enforcement of sanctions against buyers, suppliers and customers; taking measures (together with the legal department and the main accounting department) for the timely and complete collection of receivables from buyers, tenants and other debtors.
2.11. Implementation of the most appropriate forms of settlements with buyers and suppliers that contribute to the timeliness of payments, and ensuring compliance with the rules for conducting these settlements.
2.12. Receipt, storage, operational accounting and issuance of cash, securities and forms of strict reporting in accordance with the Regulations on the conduct of cash transactions.
2.13. Compliance with the limit of the balance of cash in the cash desks of the enterprise established by the relevant bank and ensuring the complete safety of banknotes.
3. In the field of control and analytical work
3.1. Implementation of control:
for the implementation of indicators of financial, cash and credit plans, as well as plans for profit and profitability;
for the state of shipment and sale of products;
for the use for the 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 enterprises of the enterprise are responsible for compliance with the working capital standards;
to prevent the diversion by departments, services and workshops of working capital of the main activity for capital construction and overhaul;
for timely consideration by the relevant departments, services and workshops of buyers' claims and reasons for refusing to pay payment requirements for shipped products and services rendered; compliance by departments, services and workshops with the established deadlines for checking the acceptance of payment requirements of suppliers, contractors and other organizations and their timely and proper execution in appropriate cases, complete or partial refusals to pay payment requirements in strict accordance with the bank instruction;
for the implementation of plans and estimates of income and expenses of housing and communal services and other similar services;
for compliance with the targeted use of non-centralized sources of financing for the costs of non-centralized state capital investments provided for in the plan;
for receiving cash in banking institutions for the payment of wages and other expenses strictly within the amounts due, determined on the basis of
established rules and cash plans approved by the enterprises of the association, and for the observance of cash discipline.
On all issues related to the implementation of these 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, check:
compliance of the cost of equipment under orders and concluded contracts with appropriations for these purposes, provided for at the expense of centralized and non-centralized sources of financing capital investments;
the correctness of the preparation, execution and approval of estimates, calculations of the payback of 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 spending incentive funds and other funds for special purposes.
3.3. Implementation of 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. Participation in the organization of work on the analysis of the production and economic activities of the association and the determination of the impact of this activity on financial performance. .
3.5. Participation in the consideration of cost estimates for production, for the development of new equipment, for future expenses, for the maintenance of management apparatus, for the maintenance of buildings, structures, clubs, parks, children's camps transferred to the free use of trade union organizations.
3.6. Participation, together with the planning and economic department, in the development and consideration of draft prices approved in accordance with the current legislation for new products manufactured by the enterprise, as well as tariffs for works and services performed by the enterprise.
3.7. Participation in the conclusion of business contracts and acceptance of financial conditions.
3.8. Participation in the 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 the internal cost accounting in structural divisions enterprises.
V. The relationship of the financial department with other departments of the enterprise
1. With the planning and economic department and the main accounting department.
Receives: production plan according to the nomenclature for the year, quarter, month; production plan according to the nomenclature and volume of marketable products by workshops.
Represents: financial plan; reports on the implementation of the financial plan; copies of assignments to workshops and departments to reduce working capital stocks; daily information on the implementation of the implementation plan by the shops and the enterprise as a whole.
2. With logistics departments, external cooperation
Receives: 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, indicating the reasons.
3. With technical departments
Receives: estimates and financial calculations for financing capital investments at the expense of bank loans for the introduction of new technology, for expanding the production of consumer goods; cost estimates approved by the management of the enterprise for research, development and other work and calculations of their effectiveness.
Represents: a plan for financing research and development work on the basis of approved estimates, as well as providing the necessary funds for floating organizational and technical measures; correctly compiled, executed and approved in the prescribed manner, estimated and estimated financial calculations for the costs of introducing new equipment, estimates for spending funds from special funds and special-purpose funds, checked together with the main accounting department.
4. With capital construction department
Receives: the planned volume, the structure of capital investments, the balance of material assets and the state of settlements in capital construction.
Represents: a plan for financing capital investments according to the state plan, drawn up jointly with the department of capital construction, taking into account the mobilization of internal resources in construction.
5. With sales department
Represents: notification of bank institutions about letters of credit issued by buyers and customers, information about buyers who have delayed payment of invoices or refused to accept them, as well as notifications about the application of banking sanctions to buyers and customers.
6. With legal department
Receives: the decision of the management on the transfer of funds based on the results of consideration of claims and lawsuits; notes on bank documents on the receipt of funds on considered and satisfied claims and claims; instructions for the listed state fees on arbitration claims.
Represents: completed claim materials and executed for filing claims with arbitration bodies; conclusions on claims and lawsuits in connection with refusals to pay bills, errors in their presentation, etc.; certificates on the transfer of funds in connection with the consideration of claims and arbitration claims; documents on the transfer of state duty; conclusions on contracts to establish the form of payment.
1. Require the divisions of the enterprise to submit materials (data from the analysis of economic activities of accounting, statistical and operational accounting, etc.) necessary for the implementation of work that is within the competence of the financial department.
2. Control the financial activities of the enterprise's divisions and give their leaders recommendations on the organization and conduct of financial work.
3. Based on the results of economic activity, 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.
By authorization 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, rules of contracts, instructions, as well as approved plans and estimates.
5. Represent the company in financial, credit and other organizations on financial matters.
6. Approval of all documents related to the financial activities of the enterprise (plans, estimates, reports, contracts, orders, orders, etc.).
7. Instructions of the financial department, within the limits of the functions provided for by this Regulation, are mandatory for management and execution by the divisions of the enterprise.
VII. Responsibility
1. Full responsibility for the quality and timeliness of the implementation of the tasks and functions assigned by this Regulation to the department is borne by the head of the department.
2. The degree of responsibility of other employees is established by job descriptions.
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