Sunday, August 24, 2014

What is the Relationship between accounting department and other departments?

What is the Relationship between accounting department and other departments?
All departments and their activities results in one thing: profit (or lack thereof). Everything any department does has an affect on the bottom line. Every single thing a person in each department does affects it (no matter how minor). In that respect, accounting's purpose is to track all of that, translate it into revenue or expense, and report out to stakeholders and managers. These reports then get consolidated and determine the company's profit/loss and its share value.

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