The finance department From the finance department perspective, “good financial management” is having robust processes that ensure all sales and purchasing transactions are accurately captured, processed and paid in a timely manner, the management accounts and statutory returns meet the legal requirements and auditor’s approval, payroll is always run on time and the resulting cashflow information is diligently managed. This financial information is communicated once a month with the Board and senior management, through the management reports pack, usually between 5 – 15 days after the month-end. It confirms where the business was and predicts the probable future. From a […]