Regulations on the financial and economic service. Financial department of the company: functions and tasks Regulations on the financial and economic department

The formation of the financial department at the enterprise is a responsible task. The functions of the financial department are constantly expanding and are formed based on the tasks that the financial director will have to solve.

Functions of the financial service

• Financial controlling is one of the main functions of the financial department, which consists in the formation of plans and control over their execution. The performance of this function is associated not only with accounting and analysis, but also with monitoring the execution of business processes of the enterprise.
• Treasury Department. Cash management of the company, the formation of a payment calendar, control over the status of mutual settlements - all these are the functions of the treasury and it is impossible to underestimate their importance.
• Organization and maintenance of accounting and tax accounting. This function does not require much explanation.

The only thing I want to focus on is the separation of the functions of the chief accountant and financial director. Responsibility of the chief accountant - maintaining regulated and tax accounting in accordance with the requirements of the legislation, timely formation of accounting and tax reporting, reflection of facts economic activity companies on registers accounting. The functions of the financial director are to plan the activities of the company, his financial result, including in the context of constantly changing legislation. The function of tax planning is the direct responsibility of the financial director of the company. The subordination structure of the chief accountant is a topic for a separate discussion. One side Chief Accountant belongs to the area of ​​responsibility of the financial director and must report to him, on the other hand, in accordance with the law "on accounting", the chief accountant reports directly to the general director of the organization. The easiest way out in this situation is the dual subordination of the chief accountant.

It should be understood that in a particular company, functions financial service may not limit the tasks facing the CFO in organizing the finance department.

The structure of the financial service

After the functions of the financial department are defined, you can begin to form its structure.

The structure of the financial department can be represented in the following diagram:

At the same time, the Contracting Department and IT Department are not part of the FEO, but are strategically subordinate to the Financial Director.

The simplest thing is to allocate a separate service to implement each function.

But no one bothers to split the function into several services or, conversely, combine several functions into one service.

Having determined the tasks and structure of the financial service, it is necessary to start developing internal regulations.

Financial Service Regulations

Regulations of the financial service are a set of provisions, rules, instructions governing business processes, owned by the financial director, and as basic ones (budgeting, accounting, fundraising, making payments; they are regulated, respectively, by budgetary, accounting, credit policies, the procedure for making payments, compiling financial reporting), and directly related to the personnel management of the financial service of the enterprise. The latter are often referred to as HR processes.

In the process of developing, coordinating and approving documents regulating these processes, many issues related to the number of employees of the financial service, the requirements for their qualifications, and the wage fund are removed. If the requirements for the functional duties of employees are changed by the company's management, the regulatory documents approved earlier will help minimize potential conflicts, change the headcount and revise wages.

Regulations on the financial service of the enterprise

The set of tasks of the financial department, its regulations and structure form the basis for the formation of the final document - the Regulations on the financial service of the enterprise.

This provision is an internal regulatory document, which has the following structure:

1. Organizational and functional structure of the financial service. Typically, the organizational structure is an organizational chart with the allocation of departments and a description of their functions. For the purposes of HR planning, it is useful to display information on the number of staff positions (existing and planned) on the diagram.
2. Structural and staffing of the financial service. Usually, this information is formed in the form of a table with the obligatory indication of the names of departments, positions, the number of active and vacant staff positions.
3. The main goals and objectives of the financial service. This section of the regulation describes the goals formulated taking into account the company's development strategy, and the tasks that need to be solved to achieve them. Tasks are defined for each department.
4. Function matrix. This is a table in which the functions of the financial service are located vertically, and organizational units, that is, managers and key employees, horizontally service departments s. At the intersection of the lines and the graph, a mark is made (who is responsible for what). The function matrix gives an idea of ​​the possible workload of departments and allows you to optimally group functions by department.
5. The order of interaction of employees of the financial service. Usually, an internal order of interaction is distinguished - between individual employees and (or) structural divisions of the company and external - with individuals(for example, especially large clients) or state (commercial) organizations. The order of interaction is developed taking into account organizational structure the company as a whole, the functions and tasks of its other divisions, established principles and traditions.
6. This section details the procedure for filing an appeal or expressing disagreement along the chain "CEO - CFO - Head of Department - ordinary employee." This applies to any questions and proposals (the task received, the decision being made, disproportionate compensation, encouragement or punishment), including innovative ones that may arise both for the employee and his immediate supervisor.
7. A system of indicators to evaluate the work of the financial director and the financial service.
8. Final provisions.

If the head of the financial service is the financial director, then his activities are regulated by the job description of the financial director, and if the financial department is allocated in separate division, then when developing the job description of the head of the financial department, you need to apply general rules formation of job descriptions.

A detailed job description usually includes the following items:

1. General provisions
2. Qualification requirements. The requirements for the level of education of a specialist in this position are formulated, as well as a set of skills and abilities necessary to perform official duties.
3. Job responsibilities. The more detailed this section is filled out, the less questions the specialist will then have about the need to perform certain tasks. Therefore, this section should be the most complete summary of all possible tasks performed by a specialist.
4. Specialist rights.
5. specialist responsibility.

It should be noted that the effective operation of the financial department is impossible without a high-quality information system.

Regulations on the Treasury

The importance of the work of the Treasury Department cannot be overestimated. The timeliness and correctness of payments, the execution of the traffic budget depend on the efficiency of the functioning of this unit. Money.

Formalization of the department's work regulations is the basis for effective functioning. As a result, it is necessary to develop internal regulations for the work of the department.

The approximate composition of the regulations of the Treasury Department:

• Regulations for the formation of budgets;
• Regulations for coordinating payments;
• Job description of the head of the treasury department;
• Job description of a specialist in the treasury department.

All these regulations are described or included in the form of annexes to the document "Regulations on the Treasury".

This provision is an internal regulatory document that has the following structure:

1. Organizational and functional structure of the Treasury Department. Usually, the organizational structure is an organizational chart with the allocation of positions and a description of their functions. For the purposes of HR planning, it is useful to display information on the number of staff positions (existing and planned) on the diagram.
2. Structural and staffing of the Treasury Department. As a rule, this information is formed in the form of a table with the obligatory indication of names, positions, the number of active and vacant positions.
3. The main goals and objectives of the Treasury Department. This section of the regulation describes the goals formulated taking into account the company's development strategy, and the tasks that need to be solved to achieve them.
4. The order of interaction of employees of the Treasury Department. Usually, an internal order of interaction is distinguished - between individual employees and (or) structural divisions of the company and an external one - with individuals (for example, especially large clients) or state (commercial) organizations. The order of interaction is developed taking into account the organizational structure of the company as a whole, the functions and tasks of its other divisions, established principles and traditions.
5. The procedure for resolving conflict situations. The procedure for filing an appeal or expressing disagreement along the chain “general director - financial director - head of department - ordinary employee” is prescribed in detail. This applies to any questions and proposals (the task received, the decision being made, disproportionate compensation, encouragement or punishment), including innovative ones that may arise both for the employee and his immediate supervisor.
6. A system of indicators that allows you to evaluate the work of the head of the department and the treasury department. This section includes lists and descriptions of indicators, upon fulfillment of which the work of the financial director and his subordinates is recognized as successful. Indicators should be specific and measurable.
7. Final provisions. This part establishes the procedure for agreeing and approving the Regulations, its validity period, the procedure for making changes, familiarizing employees with the Regulations and the procedure for storing it.

Responsibilities of a financial manager

Today financial management is a system of principles and methods for the development and implementation management decisions associated with the formation, distribution and use financial resources, cash flow. As a result, the role of the financial manager in the company's management system may vary depending on the specific tasks facing the financial service.

The financial manager, whose duties are to participate in the activities of the treasury and the budget process, control and analyze the activities of the enterprise, study the applicability of certain financial instruments, plays an important role in ensuring the current activities and development of the company.

For an effective solution various tasks various tools and regulations are used in current activities, ranging from Excel spreadsheets to modern specialized software products with the broadest functionality, which allow you to expand the functionality simply and "painlessly" for the user.

Depending on the specialization and activity, the list of job responsibilities of a financial manager may vary from cash flow management functions to a control system financial condition company, and the function of managing relationships with counterparties. Accordingly, the job description should include full list duties and powers, ensuring the completeness of the function performed by a specific financial manager in a given organization.

It does not make sense to give a specific example of a job description, since it is impossible to provide for the entire list of duties, just as it is impossible to describe the entire range of tasks management accounting enterprises. In each particular company, management accounting is individual, and, accordingly, the set of functions of the employee who provides this accounting is individual within each company.

However, one can bring overall structure job description. In general, it should consist of the following sections:

1. General provisions- description of the document, position, who appoints the employee to this position, and so on.
2. Qualification requirements.
3. Job responsibilities. This section should be the most complete summary of all possible tasks performed by a specialist.
4. Criteria for the success of the performance of labor duties. The section is quite difficult to fill in, since it is not always possible to formulate these criteria. In this section, it makes sense to describe only those criteria, the fulfillment of which can be monitored and objectively assessed.
5. Specialist rights. The section describes the company's obligations to the specialist. These are timely payment of wages, organization of the workplace and technological infrastructure, compliance with sanitary standards, etc.
6. Rights and obligations of the leader. This paragraph complements the previous one, it contains an explanation of the duties and powers of the immediate supervisor of the specialist.
7. specialist responsibility. A paragraph that describes what the employee is directly responsible for and contains information about possible penalties for failure to perform official duties.

The key to a high-quality job description for a financial manager is the most clear and complete prescribing of all points, which will reduce the possibility of maneuvers for unscrupulous employees. Only such instructions will provide efficient work employee, his interaction with the manager, with other employees and departments of the company, and the company's activities as a whole.

Responsibilities of the financial director

The financial director not only manages the relevant service, but also manages cash flows of the company, forms the investment policy, provides the top management of the company with prompt and reliable information on the organization's cash flow. The duties of this manager largely depend on the specifics of both the business itself and the features of the company's management system.

Duties include the following functions:

• Organization of the management of the movement of cash resources of the enterprise and the regulation of the relevant relations that arise between business entities in the market, in order to effective use all types of resources in the process of production and sale of products (works, services) and obtaining maximum profit.
• Ensuring the capital stability of the enterprise through the development of a monetary strategy for the enterprise.
• Control budget process company, participation in the development of projects and financial plans of the company.
• Monitoring the performance by the units of the approved above indicators.
• Selection of the optimal sources of financing for the company's activities, by analyzing the financial market and the effectiveness of the applicability of a particular source for certain types activities.
• Formation of the company's investment policy, analysis of the effectiveness of capital investments.
• Conducting an analysis of the financial and economic activities of the enterprise, developing methods aimed at ensuring the efficiency of the company's activities (optimization of trade turnover, increasing profitability, cost management, etc.).
• Accounting for cash flows and reporting on the results of the state of 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.
• Managing financial department employees.

The understanding by the performer of his rights and obligations will depend on the completeness of the instructions. The presence of instructions will help to avoid problematic situations associated with different interpretations of their duties by the employee and his management. The job description may include the following sections:

1. General provisions- description of the document, position, who appoints the employee to this position, etc.
2. Qualification requirements. This section formulates the requirements for the level of education of a specialist in this position, and also describes the set of skills and abilities necessary to perform job duties.
3. Job responsibilities. This section should be the most complete statement of all possible tasks performed by a specialist.
4. Criteria for the success of the performance of labor duties. The section is quite difficult to fill in, since it is not always possible to formulate these criteria. It makes sense to describe only those criteria, the fulfillment of which can be controlled.
5. Specialist rights. The duties of the company to the specialist are described. These are timely payment of wages, organization of the workplace and technological infrastructure, compliance with sanitary standards, etc.
6. Rights and obligations of the leader. This paragraph complements the previous one. It contains an explanation of the duties and powers of the immediate supervisor of the specialist.
7. specialist responsibility. A paragraph that describes what the employee is directly responsible for and contains information about possible penalties for failure to perform official duties.

Let us give as an example one of the options for the job description of a financial director, but we want to note that the instructions for each manager must be adapted to the specifics of the enterprise.

Job description of financial director

APPROVE

CEO

Surname I.O. ________________

"________"_____________ ____ G.

1. Responsibilities of the financial director. General provisions.

1. This job description describes the duties, rights and responsibilities of the CFO.

1.1. This position belongs to the leadership category.

1.2. Appointed by order only CEO.

1.3. Reports directly to the General Manager.

1.4. In his absence functional responsibilities are carried out by the head authorized to perform the official duties of the financial director by the general director.

1.5. A person with a higher economic education, as well as work experience in leadership positions at least 5 years.

1.6. The CFO must know:

• the legislation of the Russian Federation, the Charter of the enterprise, the regulatory legal acts of the enterprise, as well as other regulatory legal acts regulating its activities;
• safety precautions, fire safety rules, as well as industrial hygiene and sanitation, labor protection, orders and instructions of the management, as well as guidelines organizing their own work;
• methodology for organizing the financial and economic activities of the enterprise, as well as drawing up plans, projected balance sheets, budget planning, drawing up and developing sales and production plans, profit and loss planning;
• tools, the procedure for evaluating and analyzing financial assets, the forecast of profitability and risks, the procedure for lending to an enterprise, the search for funds and investments for a loan;
• forecasting the efficiency of investments and distribution of capital-forming resources of the enterprise;
• financial reporting methods, tax system Russian Federation, as well as the procedure for preparing accounting and financial reports.

1.7. In his absence of obligation this director transferred to a person authorized by the General Director.

2. Responsibilities of the financial director

The job description assumes job responsibilities:

2.1. Management of the financial resources of the enterprise, as well as redistribution of the budget in order to obtain maximum efficiency in production, marketing processes for goods and services, as well as reduce costs, identify the main sources of financing for production and maintenance of the enterprise;

2.2. Negotiating, correspondence and the necessary document flow with commercial structures, banks, credit and investment institutions, as well as various third organizations in order to identify potential sources of lending, financing, co-financing and investment.

2.3. Conducting an analysis of the enterprise in terms of the above and the economic condition, audit, vertical-horizontal analysis, trend analysis, calculation of financial ratios and indicators.

2.4. Study of all types of expenses of the enterprise, including energy costs, utilities, the purchase of raw materials or goods, as well as commissions, transport and production costs.

2.5. Development of a business plan for the enterprise jointly with other managers and employees or independently, as well as ensuring budget planning, distribution of budget funds, control over the implementation of budget prescriptions.

2.6. Control over the implementation of plans and budget, spending borrowed and budgetary funds.

2.7. Analysis of the main indicators of the enterprise: cash receipts to the current account and cash payments for all types of enterprise products, income from own financial activities enterprises, interest accruals on loans, payment or receipt of dividends, expenses associated with investments and investments of the enterprise's financial resources.

2.8. Development of proposals for improving the performance of the enterprise, reducing the costs of the enterprise, as well as preventing the appearance of unnecessary costs and expenses, increasing the effectiveness of the policy direction.

2.9. Formation of the investment policy of the enterprise based on the study of the state of the market, analysis of supply and demand, the effectiveness of investment investments, as well as profitability and potential income from various enterprises, taking into account risk insurance, various payment and political conditions for the investor.

2.10. Control over the timely receipt of funds from budget revenue items, as well as the execution of banking and reporting transactions within the specified time limits, payment of bills and interest rates on loans, over the payment of funds to employees on account of wages, transfer of taxes in accordance with the procedure established by the legislation of the Russian Federation.

2.11. Development and determination of directions of the tax policy of the enterprise.

2.12. Complete Guide over the development various documents financial and accounting at the enterprise, including documents not established in the regulatory legal order.

2.13. Control over the preparation and execution of reporting documentation, as well as the preparation of financial statements for management and relevant authorities, preliminary verification of documents with the actual state of affairs.

3. Rights of the financial director

The job description guarantees him the right to:

3.1. Require the CEO to provide all conditions for the effective performance of their own duties.

3.2. Propose and submit proposals for improvement to the Board of Directors production process, as well as document flow within its competence.

3.3. Identify the shortcomings of the production process, as well as, included in the scope of his duties, the activities of the enterprise and offer management methods and ways to eliminate or prevent them.

3.4. Sign and issue orders, directives and other internal documents enterprises within their own competence.

3.5. Receive Required documents for the successful completion of their duties.

3.6. Represent employees for promotion or punishment in cases where their own powers are not enough to encourage and collect them.

3.8. Take an active part in the development of all relevant documents, plans and other documents related to the direct activities of the enterprise.

3.9. Coordinate and approve the job responsibilities of subordinates within their own powers.

3.10. Engage in improving your own skills.

4. Responsibility of the financial director

The job description defines his responsibility for:

4.1. Disclosure of trade secrets, transfer of financial information to third parties, resulting in material and image losses of the enterprise.

4.2. Failure to perform or negligent performance of their official duties, as well as inaction in the event of failure to perform or negligent performance of official duties by subordinates.

4.3. infliction material damage or damage to the image of the enterprise as a result of the performance of official duties.

4.4. Violations of the laws of the Russian Federation that were committed during the performance of official duties.

4.5. Non-observance of labor protection rules, labor regulations and discipline, industrial hygiene and sanitation rules, fire safety rules and industrial safety regulations.

AGREED:

General
Director: __(signature)____ _______(full name)___________

Boss
Legal Department: __(signature)____ _______(full name)___________

Familiarized with the instruction: __ (signature) ____ _______ (full name) ___________

					APPROVE
(Business name,
					(head of the enterprise
organizations, institutions)
					organizations, institutions)
POSITION
00.00.0000		№ 00			(signature)		(surname, initials)
					00.00.0000

I. General provisions

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, cash collection, cash transactions and 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 of 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 the sales plan 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 and major repairs.

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 departments, services, workshops of the enterprise and the implementation of 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 of shipment 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 research and development, development new technology and other goals 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 strict accountability 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 the 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 with the established deadlines by departments, services and workshops to verify 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 by 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 the expenditure of 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 maintenance control apparatus, expenses for the economic 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 review of approved in accordance with current legislation draft prices 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 the structural divisions of the enterprise.

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 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 company's divisions and give their leaders recommendations on organizing and maintaining 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 to dispose of financial resources and sign (with the first signature) monetary, payment, settlement, credit and other financial documents, in compliance with the 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. A 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.

(head of structural
				(signature)		(surname, initials)
divisions)				00.00.0000
AGREED
(executive, which
Regulation is agreed)
(signature)		(surname, initials)
00.00.0000
Head of the legal department
(signature)		(surname, initials)
00.00.0000

Find out what the structure of the financial service of a separate company and holding can be, whether it should include accounting, whether accountants, internal auditors and IT specialists are required to report to the financial director. Download the regulation on the financial department in order to correctly formulate the goals, objectives and functions of the unit.

In the finance department, employees of a special way of thinking should work:

1. They should be able to analyze the result obtained, to find " narrow places and, conversely, too well-funded processes.
2. They must be able to look to the future and plan the activities of the enterprise for several periods ahead.
3. They need to know through which key indicators they need to conduct operational control.
4. The qualifications of the financial department specialists should allow them to conduct a dialogue with all departments of the enterprise. In other words, the financier must be able to translate business processes of any department into the language of money, optimize them, and make a reverse translation. This cannot be achieved if financiers work in a "vacuum", they must necessarily have access to non-financial information and be interested in it.

The main trend today is to simplify business processes, free employees from routine tasks and devote more time to analysis and financial control. Instead of obsolete duties appears new functionality in financial service.

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	Business planning	Approval of expense requests, daily, weekly and monthly reporting
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	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
		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. Cm.,

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.

Let's take a look at each object of the financial department and its functions in turn and decide 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.

AT 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 financial analysts subordinate to them.

AT large companies financial controllers and financial analysts work in dedicated units - departments financial control by areas of activity: products, regions, types of expenses, 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.

Why does the financial service need a “personal BI” system and its own IT architect

Not all companies can afford expensive ERP systems, and now almost everyone needs to use advanced analytics. An alternative solution is to leave the data in several information systems, implement a “personal BI” system and hire an IT architect.

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.

An internal audit of local financial statements can be a task for the financial controller. Or create a department internal audit. It all depends on scale, of course. The analysis of key financial indicators and the writing of analytical notes are usually carried out by the same financial controllers.

When the scale of the business grows, the owners challenge the CFO to increase control of the processes. Sometimes the founders and management do not voice such instructions, they simply set KPI indicators for the head of the financial service, which cannot be performed without a clear system of internal control.

Management reporting

Doing management reporting This is entirely the area of ​​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. Tools short-term planning DS -, and medium-term - are 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 term 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

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:

1. Incorrect calculation of amounts and tariffs.
2. Incorrect due date.
3. Lack of price indexation for long-term contracts.
4. Existence or vice versa is not the inclusion of penalties.
5. 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 manages 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

Project management without investing in an IT system

The MyProject program will help you quickly develop a project plan, calculate the budget, notify contractors with the click of a button and track deviations from the plan in real time.

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.

But the development of KPI should not be completely delegated to financiers, because in the end you will get good KPIs for a stagnant business, but not for rapid development.

What to reward employees for: KPI sets for company departments

The editors have collected 17 sets of KPIs for the financial service and other departments, regulations, bonus reports, certificates on the implementation of key indicators. Download and use in your company.

Structure of the financial department

The structure of the financial department depends on the specific task of the company's development. The unit has basic functions (budgeting, management accounting, internal control, financial reporting) and additional ones. The latter may vary depending on the priorities of the current stage of the company's development.

Table. An example of the structure and staff of the financial service of an enterprise

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.

I APPROVE ____________________________________ (name of the position of the head of the enterprise)

____________________________________ (full name, signature)

"____"______________ _____ G.

POSITION

about the financial department of the company

1. GENERAL PROVISIONS

1.2. The department was created on the basis of the order of the head of the enterprise N _____ dated "__" _______ ____

1.3. The head of the department is appointed and dismissed by order of the head of the enterprise.

Employees of the department are appointed and dismissed by order of the head of the enterprise on the proposal of the Head of the department.

1.4. The department in its work is guided by:

Federal laws of the Russian Federation;

Decrees and orders of the President of the Russian Federation;

Decrees and orders of the Government of the Russian Federation;

Laws ____________________ (specify the subject of the Russian Federation);

the Charter of the enterprise;

By this Regulation.

1.5. The department should have documents and materials on the following issues:

Legislative and regulatory legal acts regulating production and economic and financial and economic activities;

Regulatory and teaching materials relating to the financial activities of the enterprise;

Organization and planning methods information work; new information technologies;

Prospects for the development of the enterprise;

Status and prospects for the development of financial markets and sales markets for products (works, services);

Fundamentals of production technology;

Organization of 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;

System 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 money, the use of own funds, the issuance of the acquisition of securities, the accrual of payments to the state budget and state off-budget social funds;

The procedure for the distribution of financial resources, determining the effectiveness of financial investments;

Rationing of working capital;

Procedure and forms of financial settlements;

Tax law;

financial accounting and reporting standards;

Economics, organization of production, labor and management;

Accounting;

United state system office work;

Methods for the effective use of office equipment and other technical means managerial work;

Internal labor regulations;

Rules and norms of labor protection.

2. STRUCTURE OF THE DEPARTMENT

2.1. The structure and staffing of the department is approved by the head of the enterprise.

2.2. The Department is managed by the Head of the Department.

2.3. The department consists of (specify positions):

- __________________________________________;

- __________________________________________;

- __________________________________________;

- __________________________________________.

3. MAIN TASKS OF THE DEPARTMENT

3.1. Management of the movement of financial resources of the enterprise.

3.2. Regulation financial relations.

3.3. Ensuring the financial stability of the enterprise.

3.4. Definition of the financial strategy of the enterprise.

3.5. Implementation of the investment policy of the enterprise.

3.6. Analysis and control of the financial and economic activities of the enterprise.

4. FUNCTIONS OF THE DEPARTMENT

In accordance with the tasks assigned to it, the department performs the following functions:

4.1. Management of the movement of financial resources of an enterprise and regulation of financial relations that arise 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.

4.2. Development of projects of long-term and current financial plans, forecast balances and cash budgets.

4.3. Development of the financial strategy of the enterprise and its financial stability.

4.4. Bringing the approved financial indicators to the divisions of the enterprise.

4.5. 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.

4.6. Calculation of profit and income tax.

4.7. Determination of sources of financing for the production and economic activities of the enterprise, including budget financing, short-term and long-term lending, issue and purchase of securities, leasing financing, raising debt and using own funds, research and analysis of financial markets, assessment of possible financial risks in relation to each source of funds and development of proposals for their reduction.

4.8. Implementation of the investment policy and asset management of the enterprise, determination of their optimal structure, preparation of proposals for the replacement, liquidation of assets, control of the securities portfolio, analysis and evaluation of the effectiveness of financial investments.

4.9. Development of working capital standards and implementation of measures to accelerate their turnover.

4.10. Ensuring the timely receipt of income, processing financial and settlement and banking transactions in a timely manner, paying bills of suppliers and contractors, repaying loans, paying interest, wages to workers and employees, transferring taxes and fees to the federal, regional and local budgets, to state non-budgetary social funds, payments to banking institutions.

4.11. Analysis of the financial and economic activities of the enterprise, 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.

4.12. Monitoring the implementation of the financial plan and budget, product sales plan, profit plan and others financial indicators, behind the termination of production of products that do not have a market, the correct expenditure of funds and the targeted use of own and borrowed working capital.

4.13. 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.

4.14. Ensuring the reliability of financial information.

4.15. Control over the preparation and execution of reporting documentation, its timely provision to external and internal users.

4.16. Implementation of methodological management of the activities of other structural units on financial issues.

4.17. Carrying out, within the framework of its competence, conducting office work, generating and sending/receiving correspondence and other information via electronic communication channels.

4.18. Implementation of the organization of maintaining regulatory and reference information related to the functions of the department.

4.19. Ensuring, within its competence, the protection of information constituting a state secret and other information of limited distribution.

4.20. Implementation in accordance with the legislation of the Russian Federation of work on the acquisition, storage, accounting and use archival documents formed during the activities of the department.

The assignment to the department of functions that are not related to the functions of the department is not allowed.

5. RIGHTS

The department, in order to solve the tasks assigned to it, has the right to:

5.1. Request information (materials) from the structural subdivisions of the enterprise in accordance with the established procedure on issues within the competence of the department.

5.2. To control the implementation of the programs developed by the department by the structural divisions of the enterprise.

5.3. Control the financial and economic activities of the structural divisions of the enterprise.

5.4. Conduct, within the limits of its competence, in accordance with the established procedure, negotiations with third-party organizations, sign contracts.

5.5. Make proposals on issues within the competence of the department in the form of projects.

6. INTERACTION WITH STRUCTURAL SUBDIVISIONS OF THE ENTERPRISE

6.1. In the process production activities The enterprise department interacts with the following structural divisions:

- ____________________________________________________________,

- ____________________________________________________________,

- ____________________________________________________________.

7. RESPONSIBILITY

7.1. The head of the department bears full responsibility for the quality and timeliness of the tasks and functions assigned by this Regulation to the department.

7.2. The responsibility of the employees of the department is established by the current legislation and job descriptions.

7.3. The head and other employees of the department are personally responsible for the compliance of the documents drawn up by them and operations with correspondence with the legislation of the Russian Federation.

8. CRITERIA FOR ASSESSING THE ACTIVITIES OF THE DEPARTMENT

8.1. Timely and high-quality implementation of the goals and objectives.

8.2. Quality performance of functional duties.

Head of Financial Department

____________________________