Finance and accounting include all areas of the company that are related to finance. You can document, monitor and control all incoming and outgoing cash and service flows here. This creates the basis for conclusive accounting.
Sections of finance and accounting
On the one hand, finance and accounting serve to map operational value streams and be able to present them to outsiders, such as banks, the tax office, etc. On the other hand, it provides all the business data that the company needs for planning, management and ongoing monitoring.
External accounting discloses the company’s financial situation to the outside world. Its aim is to inform the addressees and to be accountable to them.
In contrast, internal accounting is not bound by legal requirements but serves to plan, control and coordinate business processes. Controlling therefore goes hand in hand with finance and accounting.