Forming a financial department at an 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 of forming plans and monitoring their implementation. The performance of this function is associated not only with accounting and analysis, but also with control over the execution of business processes of the enterprise
• Treasury. Managing the company's funds, creating a payment calendar, monitoring the status of mutual settlements - all these are functions of the treasury and their importance cannot be underestimated.
• Organization and maintenance of accounting and tax records. This function does not require much explanation.

The only thing I would like to focus on is the distinction between the functions of the chief accountant and the financial director. The responsibility of the chief accountant is maintaining regulated and tax accounting in accordance with legal requirements, timely preparation of accounting and tax reporting, and reflection of the facts of the company’s economic activities on accounting registers. The functions of the financial director are to plan the company’s activities and its financial results, including in the context of constantly changing legislation. The tax planning function is the direct responsibility of the company's financial director. The subordination structure of the chief accountant is a topic for a separate discussion. On the one hand, the chief accountant is included in 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 simplest way out in this situation is the dual subordination of the chief accountant.

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

Financial service structure

Once the functions of the financial department have been determined, 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 “Contractual Department” and “IT Department” divisions are not part of the FEO, but are strategically subordinate to the CFO.

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

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

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

Financial Service Regulations

Financial service regulations are a set of provisions, rules, instructions regulating business processes, the owner of which is the financial director, and as basic ones (budgeting, accounting, raising financing, making payments; regulated accordingly by budget, accounting, credit policies, payment procedures, preparation of financial statements) and directly related to the management of personnel of the financial service of the enterprise. The latter are often called HR processes.

In the process of developing, agreeing and approving documents regulating these processes, many issues related to the number of financial service employees, the requirements for their qualifications, and the wage fund are eliminated. If the requirements for the functional responsibilities of employees change on the part of the company's management, the regulatory documents approved earlier will help minimize potential conflicts, change the staffing level 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 that has the following structure:

1. Organizational and functional structure of the financial service. Typically, an organizational structure is an organizational chart highlighting departments and describing their functions. For HR planning purposes, it is useful to display information on the number of staff units (existing and planned) on a diagram.
2. Structural and staffing levels of the financial service. As a rule, this information is generated in the form of a table with the obligatory indication of the names of departments, positions, number of active and vacant staff units.
3. The main goals and objectives of the financial service. This section of the regulations 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 of the service departments, are located horizontally. 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 procedure for interaction between financial service employees. Typically, there is an internal procedure for interaction - between individual employees and (or) structural divisions of the company and an external one - with individuals (for example, particularly large clients) or government (commercial) organizations. The procedure for 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.
6. This section describes in detail the procedure for filing an appeal or expressing disagreement along the chain “CEO – CFO – department head – ordinary employee.” This applies to any questions and proposals (task received, decision made, disproportionate compensation, reward or punishment), including innovative ones, that may arise both for the employee and his immediate supervisor.
7. A system of indicators that allows you 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 separated into a separate division, then when developing the job description of the head of the financial department, it is necessary to apply the general rules for the 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, and the set of skills necessary to perform job duties is described.
3. Job responsibilities. The more detailed this section is filled out, the fewer questions the specialist will have about the need to perform certain tasks. Therefore, this section should be the most complete statement of all possible tasks performed by a specialist.
4. Specialist rights.
5. Responsibility of the specialist.

It is worth noting that the effective operation of the financial department is impossible without a high-quality information system.

Treasury Regulations

The importance of the work of the treasury department cannot be overestimated. The timeliness and correctness of payments and the execution of the cash flow budget depend on the efficiency of the functioning of this unit.

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

Approximate composition of the regulations of the treasury department:

• Regulations for the formation of budgets;
• Regulations for coordination of 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 as appendices in the document “Treasury Regulations”.

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

1. Organizational and functional structure of the treasury department. Typically, an organizational structure is an organizational chart highlighting positions and describing their functions. For HR planning purposes, it is useful to display information on the number of staff units (existing and planned) on a diagram.
2. Structural and staffing levels of the treasury department. As a rule, this information is generated in the form of a table with mandatory indication of names, positions, number of current and vacant staff units.
3. The main goals and objectives of the treasury department. This section of the regulations 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 procedure for interaction between employees of the treasury department. Typically, there is an internal procedure for interaction - between individual employees and (or) structural divisions of the company and an external one - with individuals (for example, particularly large clients) or government (commercial) organizations. The procedure for 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 – department head – ordinary employee” is prescribed in detail. This applies to any questions and proposals (task received, decision made, disproportionate compensation, reward 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 considered successful. Indicators must be specific and measurable.
7. Final provisions. This part sets out the procedure for coordination and approval of the Regulations, its validity period, the procedure for making changes, familiarization of employees with the Regulations and the procedure for its storage.

Responsibilities of a financial manager

Today, financial management is a system of principles and methods for developing and implementing management decisions related to the formation, distribution and use of financial resources and cash flow. As a result, the role of the financial manager in the company's management system may change depending on the specific tasks facing the financial service.

A financial manager, whose responsibilities are limited to participation in treasury activities and the budget process, monitoring and analysis of the enterprise’s activities, researching the applicability of certain financial instruments, plays an important role in ensuring the current activities and development of the company.

To effectively solve various problems in current activities, various tools and regulations are used, ranging from Excel spreadsheets to modern specialized software products with the widest functionality that allow expanding 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 system for monitoring the financial condition of the company, and implementing the function of managing relationships with counterparties. Accordingly, the job description must include a complete list of responsibilities and powers, ensuring the completeness of the function performed by a specific financial manager in a given organization.

It makes no sense to give a specific example of a job description, since it is impossible to provide the entire list of responsibilities, just as it is impossible to describe the entire range of management accounting tasks for an enterprise. In each specific company, management accounting is individual, and accordingly, the set of functions of the employee providing this accounting is individual within each company.

However, you can give a general structure of the 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, etc.
2. Qualification requirements.
3. Job responsibilities. This section should be the most complete statement of all possible tasks performed by a specialist.
4. Criteria for successful performance of job duties. This section is quite difficult to fill out, since it is not always possible to formulate these criteria. In this section, it makes sense to describe only those criteria whose implementation can be monitored and objectively assessed.
5. Specialist rights. This section describes the company's responsibilities to the specialist. This includes timely payment of wages, organization of the workplace and technological infrastructure, compliance with sanitary standards, etc.
6. Rights and responsibilities of a manager. This paragraph complements the previous one; it contains clarifications of the responsibilities and powers of the specialist’s immediate supervisor.
7. Responsibility of the specialist. A clause that describes what the employee is directly responsible for and contains information about possible penalties for failure to fulfill official duties.

The key to a high-quality job description for a financial manager is the clearest and most complete description of all points, which will reduce the room for maneuver for unscrupulous employees. Only such instructions will ensure the effective work of the employee, his interaction with the manager, with other employees and departments of the company, and the activities of the company as a whole.

Responsibilities of the Financial Director

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

Responsibilities include the following:

• Organization of management of the movement of monetary resources of an enterprise and regulation of the corresponding relations that arise between economic entities in market conditions, in order to most effectively use all types of resources in the process of production and sale of products (works, services) and obtain maximum profit.
• Ensuring the capital stability of the enterprise through the development of a cash-generating strategy for the enterprise.
• Management of the company's budget process, participation in the development of projects and financial plans of the company.
• Monitoring the implementation of the above-mentioned indicators by departments.
• Selection of optimal sources of financing the company’s activities by analyzing the financial market and the effectiveness of the applicability of a particular source for certain types of 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 (optimizing turnover, increasing profitability, cost management, etc.).
• Accounting for cash flows and reporting on the results of activities in accordance with financial accounting and reporting standards, 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.
• Supervising financial department employees.

The performer’s understanding of his rights and obligations will depend on the completeness of the instructions. The presence of instructions will allow you 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 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 successful performance of job duties. This section is quite difficult to fill out, since it is not always possible to formulate these criteria. It makes sense to describe only those criteria whose fulfillment can be monitored.
5. Specialist rights. The company's responsibilities to the specialist are described. This includes timely payment of wages, organization of the workplace and technological infrastructure, compliance with sanitary standards, etc.
6. Rights and responsibilities of a manager. This point complements the previous one. It contains clarifications of the duties and powers of the specialist’s immediate supervisor.
7. Responsibility of the specialist. A clause that describes what the employee is directly responsible for and contains information about possible penalties for failure to fulfill official duties.

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

Job description of the financial director

I APPROVED

General manager

Last name I.O. ________________

"________"_____________ ____ G.

1. Responsibilities of the financial director. General provisions.

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

1.1. This position is classified as a manager.

1.2. Appointed only by order of the General Director.

1.3. Reports directly to the General Director.

1.4. In his absence, functional responsibilities are performed by a manager authorized to perform the duties of the financial director by the general director.

1.5. A person with a higher economic education and at least 5 years of experience in management positions can be appointed to the position of head of this area.

1.6. The financial director must know:

• legislation of the Russian Federation, the Charter of the enterprise, 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 from management, as well as methodological recommendations for organizing your own work;
• methodology for organizing the financial and economic activities of an enterprise, as well as drawing up plans, projected balances, budget planning, registration and development of plans for sales and production of products, profit and loss planning;
• tools, the procedure for assessing and analyzing financial assets, forecasting profitability and risks, the procedure for lending to an enterprise, searching for funds and investments for a loan;
• forecasting the effectiveness of investments and distribution of capital-forming resources of the enterprise;
• methods for preparing financial statements, the tax system of the Russian Federation, as well as the procedure for preparing accounting and financial reports.

1.7. In his absence, the duties of this director are transferred to a person authorized by the general director.

2. Job responsibilities of the financial director

The job description includes job responsibilities:

2.1. Managing the financial resources of the enterprise, as well as redistributing the budget in order to obtain maximum efficiency in production, sales processes of goods and services, as well as reducing costs, identifying the main sources of financing for production and maintenance of the enterprise;

2.2. Conducting negotiations, correspondence and necessary paperwork with commercial entities, 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 from the point of view of the above and economic condition, audit, vertical-horizontal analysis, trend analysis, calculation of financial ratios and indicators.

2.4. A study of all types of business expenses, including energy costs, utilities, purchases of raw materials or goods, as well as commissions, transportation and production costs.

2.5. Developing a business plan for an enterprise together with other managers and employees or independently, as well as ensuring budget planning, distribution of budget funds, monitoring the implementation of budget requirements.

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

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

2.8. Development of proposals to improve the productivity of the enterprise, reduce the costs of the enterprise, as well as prevent the emergence of unnecessary costs and expenses, and increase the efficiency of the direction policy.

2.9. Formation of an enterprise's investment policy based on a study of market conditions, analysis of supply and demand, the effectiveness of 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 a given time frame, payment of bills and interest rates on loans, the payment of funds to employees for wages, transfer of taxes in the manner established by the legislation of the Russian Federation.

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

2.12. Complete guidance on the development of various financial and accounting documents for an enterprise, including documents not established by law.

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 reconciliation of documents with the actual state of affairs.

3. Rights of the financial director

The job description guarantees him the rights:

3.1. Require the General Director to provide all conditions for the effective performance of his own official duties.

3.2. Propose and submit for consideration to the board of managers proposals for improving the production process, as well as document flow, within their competence.

3.3. Identify deficiencies in the production process, as well as, within the scope of his responsibilities, the activities of the enterprise and propose to management methods and ways to eliminate or prevent them.

3.4. Sign and issue orders, instructions and other internal documents of the enterprise within their own competence.

3.5. Receive the necessary documents to successfully perform job duties.

3.6. Represent employees for encouragement or discipline in cases where one’s own authority is not enough to reward and discipline.

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 authority.

3.10. Improve your own skills.

4. Responsibility of the CFO

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 for the enterprise.

4.2. Failure to fulfill or negligent performance of one's official duties, as well as inaction when identifying non-fulfillment or negligent performance of official obligations by subordinates.

4.3. Causing 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. Failure to comply with 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)___________

I have read the instructions: __(signature)____ _______(full name)___________

Economic portal - website

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Economist is the profession of the future and present!

Most of us decided on our future profession at school. For those who have loved numbers and mathematical analysis since childhood, becoming an economist may have been their goal. Who is an economist? Profession, lifestyle or state of mind? For us, an economist is a single whole of profession, lifestyle and state of mind.

For the specialty of an economist to be not only a way to live and earn money, but also a favorite activity, you need to love and understand the magical magic of numbers. We were taught to add, divide, subtract and multiply in school, but only a competent economist can analyze, forecast and draw up budgets. Without a computer, it is quite difficult to analyze something or make calculations and create reports. An economist must have knowledge and confidence in Excel to work effectively with spreadsheets, graphs and charts. An economist must clearly understand economic terms, distinguish between revenue and cost, profitability from profit, calculate various ratios, calculate percentages, make forecasts, plans and facts. Such a specialist simply needs to have an analytical mind and logical thinking. An economist must have an easy-going character, find a common language with employees, and negotiate with related departments to provide primary information for analysis.

If you have a higher economic education and work experience in your specialty, you love numbers and can offer real ways to optimize taxation, forecast plans and correct facts, you can draw up a budget for a quarter, half a year, a year, make an electronic presentation, analyze stock balances and sales, calculate the financial result, adjust the markup, make reports on marginal, net, gross, operating profit, calculate the break-even point and the salary - bonus part of the salary, then an economist is your choice! Nowadays, not a single manufacturing enterprise or trading company can do without economists.

N.B. Ozerova
Head of the Department of Economics and Finance, Moscow State Technical University. N.E. Bauman,
laureate of the President of Russia and the Government of Russia awards in the field of education, honorary worker of higher education in Russia

Regulations on the financial structure of the university

I. General part

The purpose of these Regulations is to create a system for managing the financial flows of the university, which in turn is the basis for the effective use of all its resources, increasing competitiveness in the conditions of modern development of the higher education system and creating an information base of financial resources.
Financial management is used as a mechanism for managing financial flows in order to ensure and achieve the planned results of the university’s activities. Financial management includes optimization procedures that ensure the achievement of results with the least losses in the process of fulfilling the state task for the provision of services for training specialists and for carrying out research work, as well as when performing services and work on a paid basis when conducting both the main and other income-generating activities.
This mechanism includes a budgeting system.

Organization of budget management

Budget management is an operational system for managing an organization by responsibility centers using budgets. Budget management is carried out through a system of financial responsibility centers (FRC), which includes centers for investment, profit, marginal income, revenue/income and costs.

The concept of “center of financial responsibility” is in many ways identical to the concept of “center of economic responsibility.” Responsibility centers are formed not only for planning and cost accounting, but also for analyzing and coordinating the activities of production departments.

With the help of interconnected budgets, planning, accounting and analysis of costs and/or income, results of economic activity of a construction organization and individual centers of financial responsibility are carried out.

In the organizational structure of construction companies, as a rule, central federal districts are distinguished in the form of cost centers formed on the basis of the following divisions:

· construction site corresponding to the construction project:

· logistics department (MTO);

· chief mechanic department (OGM);

· Department of the Chief Power Engineer (OGE);

· estimate and contract department (EDD);

· chief engineer service;

· department of occupational health and safety (OH&S), etc.

The mechanism for organizing a management system using budgets in a construction company is shown in Fig. 6.1.

Rice. 6.1. The mechanism for setting up a budgeting system in a construction organization

The basic principle of budget regulations is a sliding development schedule, which involves constant adjustment (within established limits) of budget outlines at the end of each month or quarter of the budget period.

Responsibility centers are usually created on the basis of construction sites, each of which corresponds to a construction project. For each site (center of financial responsibility), PEO economists develop a budget based on information from the production and technical department, the departments of the chief mechanic and chief power engineer, logistics, contracts, accounting, department of labor organization and wages, received no later than the 10th the day of the month preceding the previous budget period.

VET specialists provide design and estimate documentation, and the contracts department provides information on the volume and cost of concluded contracts. OGM provides data on the need for construction machinery and mechanisms, the costs of their maintenance and operation for objects under construction and reconstruction. Information about the needs for all types of energy for each facility under construction and repair comes from the OGE. Data on wages for workers engaged in finishing and construction and installation work, by type of work and by construction projects, are transmitted by the labor and wages department (H&W). Accounting provides data on overhead costs for the formation of budgets for facilities under construction and reconstruction. The logistics department provides data on the need for materials and raw materials separately for each facility and by type of work.

Budgets for construction sites are compiled by economists no later than the 20th day of the month preceding the previous budget month.

For other responsibility centers, the budget is prepared on the basis of requests submitted no later than the 10th day of the month preceding the previous month of the budget period. By the 20th of the same month, the PEO draws up a draft budget for the cost center and, by the 25th, coordinates these budgets with the heads of the centers. These budgets no later than the 20th day of each month preceding the previous month of the budget period are submitted to the PEO and are approved by the chief accountant by the 25th day.

Various departments are involved in the formation and coordination of operating budgets (Table 6.1).

Based on operating budgets (budgets of responsibility centers and functional ones), PEO economists draw up a consolidated budget of income and expenses and a settlement balance (Fig. 6.2). The finance department, together with the PEO, draws up a cash flow budget. Consolidated budgets are drawn up no later than the 25th day of each month preceding the previous month of the budget period, and before the 27th day they are submitted for approval to the Deputy General Director for Economics and Finance and for approval to the General Director of the construction organization.

A budget period of 12 months is recommended, with a monthly breakdown of all budgets (except for the tax budget, which should have a quarterly breakdown). Budget execution reports are prepared monthly. Budgets must have the signatures of those who prepared them, with whom they were agreed and who approved them.

Table 6.1

Units involved in the formation and coordination

operating budgets of a construction organization

Budget name	Divisions responsible for budget formation	Units providing data	Coordination
Approving person	Date of approval
Budgets of financial responsibility centers
Budget for construction sites	PEO		Head of PEO	20th
Production Deputy	25th
	27th
Budget of the logistics department	PEO	Logistics Department	head of the PEO	20th
head of logistics department	25th
commercial director	26th
Deputy for Economics and Finance	27th
Warehouse budget	PEO	Warehouse	head of the PEO	20th
warehouse manager	25th
commercial director	26th
Deputy for Economics and Finance	27th
Transport department budget	PEO	Transport department	head of the PEO	20th
head of transport department	25th
production deputy	26th
Deputy for Economics and Finance	27th
Functional budgets
Administrative budget	Accounting	Financial department, personnel department and health and safety department	chief accountant	20th
Deputy for General Affairs	26th
Deputy for Economics and Finance	27th
Tax budget	Accounting	Finance department	chief accountant	20th
Deputy for Economics and Finance	27th
Payroll budget	OHS	Accounting	head of safety and health	20th
chief accountant	26th
Deputy for Economics and Finance	27th
Budgets by area of ​​activity
Budgets by type of work	PEO	Financial department, accounting department, chapter departments. energy, ch. mechanics, transport, technical support	head of the PEO	20th
production deputy	25th
Deputy for Economics and Finance	27th

Rice. 6.2. Classifier of construction organization budgets

In the budget of each economic responsibility center, a material incentive fund should be allocated as a separate line. This makes it possible to introduce a motivation scheme that defines the methodology for calculating the variable part of the Central Federal District's wages. The budgets of responsibility centers should contain only those financial and economic indicators that these centers can influence - this is one of the principles for constructing their budgets. If the head of the center has the authority to make decisions that affect the values ​​of certain indicators, all of these indicators should be in the budget of the responsibility center, and the head is responsible for their implementation.

Let's consider a responsibility center that acts as a cost center, which includes the budgets of the logistics department, warehouse and transport section.

When drawing up the budget, the logistics department should be motivated to save on the amount of purchases when purchasing the required amount of quality resources.

The budget of the logistics department should contain twelve main indicators: the total amount of costs for the purchase of raw materials; execution of the procurement budget by amount (price factor); execution of the procurement budget in physical terms; department costs; the share of prepayment contracts in the total volume of purchases; accounts receivable turnover; accounts payable turnover; number of hours of downtime (disruption of production schedules) due to the fault of the department; number of early/late deliveries.

With the effective operation of the logistics department, significant savings can be achieved, in particular, the amount of inventory can be optimized, which will significantly increase the profit of the construction organization.

The budget of the responsibility center of the logistics department includes not only procurement costs, although this is the most significant item, but also transport, wages, etc. These costs are much less than procurement costs, but they also must be controlled.

Among the budget items of the logistics department there are indicators that characterize the accuracy of the delivery schedule. Premature deliveries, as well as shortages of raw materials and materials, lead to losses. In the first case, funds are frozen and storage costs increase, and in the second, the organization loses part of its profit due to the lack of finished construction products. Responsibility for such situations lies with the logistics department.

The efficiency of a construction organization depends on the operation of the warehouse; it is here that there are significant reserves for improving financial results. The budget of a warehouse as a center of financial responsibility must contain the total amount of warehouse costs; its cargo turnover and cargo handling; work intensity factor; warehouse space utilization ratio; the amount of excess losses during storage; labor productivity; cost of processing one place; percentage of orders not completed by the specified deadline; material incentive fund.

It is recommended to include the total amount of costs for the section in the budget of the center of the transport section; ratio of own and borrowed transport; coefficient of transport on the line; number of machine days of transport downtime; execution of department requests; saving/excessive consumption of fuels and lubricants; savings/overconsumption of materials for transport maintenance; material incentive fund.

Please note that the article transport costs exists both in the budget of the transport section and in the budgets of the Central Federal District that use the transport provided by the transport department. This is due to the fact that transportation costs are influenced by both the transportation department itself and the responsibility centers that use the transportation. The transport section affects the cost of transport services, since the costs of wages, spare parts, fuels and lubricants, etc. depend on it. Thus, the transport section affects the price factor of transport costs, and the centers of economic responsibility using transport influence the volume factor , since it depends on them what kind of transport, how many hours will be needed and how many kilometers will need to be traveled. When forming a flexible plan for a transport section, it is recommended to fix the volumetric components of transport costs, and when forming a flexible plan for responsibility centers using transport, the price component. After calculating a flexible transportation cost plan, you can analyze the deviation of actual costs from planned ones. To effectively control costs for fuels, lubricants and spare parts, it is recommended to create a system of fuel and lubricants standards.

Functional budgets provide information on the main financial and economic performance indicators of a construction organization. In large organizations, it is recommended to develop budgets for administrative expenses, taxes and salaries.

Budget administrative expenses necessary to manage these costs. Data for this budget in the PEO are provided by all departments. It is recommended to draw up this budget by department - this will significantly simplify its analysis during planning, internal control and summing up the results of budget execution.

The administrative expenses budget contains four groups of indicators that characterize the management efficiency of a construction organization: total administrative expenses, the share of these expenses in revenue, administrative expenses by division and general company administrative expenses. The most difficult thing is to link administrative expenses directly to the construction project or the type of activity of the organization.

Tax budget, necessary for managing tax costs, is the accounting department. Tax budget analysis shows managers how effectively the organization performs tax optimization functions. This budget must contain the total costs of taxes, the share of taxes in sales revenue, tax benefits and taxes taking into account benefits.

Payment budget labor is needed to manage the efficiency of labor costs and evaluate the effectiveness of the motivation system in a construction organization. It is necessary to distinguish between variable and constant parts of remuneration. The wage budget contains thirteen groups of indicators: the total wage fund (payroll), total variable and constant payroll, labor productivity, staff turnover rate, vacation pay and compensation, the ratio of the average salary to the industry average for the city, payroll by division, by construction site and types of work, accounts receivable for wages, cash payments.

The wage budget must represent the entire salary of the construction organization. In the system of restrictions, it is recommended to set an upper limit on the permanent salary. If total labor costs increase due to the variable part, this is acceptable, since it depends on the results of work. An increase in the constant part of wages should occur only when the scale of economic activity changes.

All operating budgets (including functional budgets) serve as the basis for the development of financial budgets, and all three main budgets must be prepared. If the organization has formed a complete system of main budgets, not a single operation will go unnoticed by managers, since it will definitely be reflected in at least one of the three main budgets, and if a sufficiently long period is considered, then in all three main budgets. The first, as a rule, is the budget of income and expenses, developed by the PEO on the basis of operating budgets.

Development goals budget of income and expenses construction organization are:

· ensuring a positive financial result (profit);

· increasing work efficiency;

· monitoring the dynamics of work efficiency (profitability indicators).

After preparing the first version of the budget for income and expenses, a cash flow budget is drawn up. The fundamental feasibility of plans should be checked at the stage of drawing up a budget for income and expenses.

Development goals cash flow budget are:

· ensuring its shortage;

· effective use of available funds;

· determining the relationship between financial flows, results and changes in the financial position of the organization.

After calculating the budget of income and expenses and the cash flow budget, a settlement balance is drawn up. The income and expense budget can be profitable, the cash flow budget can be deficit-free. However, it may turn out that the planned financial position of the construction organization (balance sheet) is unrealizable. In addition, based on the analysis of the balance sheet, managers can draw conclusions about the reasons for the cash flow budget deficit.

Development goals settlement balance in a construction organization are:

· ensuring a balance of assets and sources of financing (assessing the feasibility of income and expense budgets, as well as cash flow);

· increasing the efficiency of use and financing of assets;

· control of the integrity (closedness) of the constructed financial model;

· comprehensive financial analysis.

The planning and economic department should also be involved in the formation of the settlement balance.

Having a clear organization of the budget management system allows you to effectively manage a construction organization through effective planning and internal control:

· liquidity and solvency (cash flow budget, balance sheet);

· profitability (budget of income and expenses);

· business activity (budget of income and expenses, balance sheet);

· financial stability (budget of income and expenses, balance sheet).

Creating a budget management system involves:

· appointment of a budget director responsible for the preparatory process, standardization of project forms, collection and collation of data, verification of information, presentation of reports and development of budget guidelines (in the form of a set of instructions reflecting the policy, organizational structure of the enterprise, division of rights, duties and responsibilities) ;

· attracting external consultants to survey, diagnose and develop a budget management system;

· selection of a software product to support the budgeting process;

· allocation of responsibility centers and appointment of managers bearing personal responsibility for each center;

· organizing training for managers related to the budgeting process;

· development of a system of operational accounting and control, as well as reporting forms;

· Formation of document flow schedules for budgeting;

· creation of a budget committee (budget committee) of senior managers and external consultants, whose tasks include checking strategic and financial plans, developing recommendations and resolving conflict situations, promptly adjusting financial plans.

Budget development is carried out by a group consisting of an accountant, financial manager, sales and purchasing managers. Data received by the group from different services of the organization is verified and corrected. After the budget is drawn up and approved, copies are distributed to all responsible employees. Periodic budget performance reports should also be distributed to employees.

Budget management also involves organizing a system for collecting and accumulating information, its subsequent processing and analysis.

6.2. Algorithm for building a cost management system by responsibility centers

The algorithm for building a cost management system for economic responsibility centers includes 12 steps. Let's look at them in more detail.

Step 1. Preliminary allocation of responsibility centers.

Tasks: formation of an ideology of allocation, construction of a preliminary organizational structure of a construction organization.

Information materials: results of pre-project survey.

Stages: 1) identifying the general characteristics of a construction organization and its external environment (main goal, objectives and strategy, type of production, types of construction products, number and size of divisions (subsidiaries), financial system, personnel, planning and forecasting, marketing management, buyers, suppliers etc.); 2) study of the organizational structure of the organization and its divisions (trends in the development of organizational structures are analyzed and assessed, including from the point of view of their transformation based on centers of responsibility). In some cases, to build an organizational structure based on responsibility centers, it is necessary to first construct diagrams of technological processes and material flows, determine and evaluate the motivation system in departments.

As a result of studying production activities, the technology used, the technological process, the state of the regulatory framework, operational and technical planning, quality management, production capacity, material flows, etc. are described.

When studying the current system of motivation for workers in a construction organization, it is advisable to take into account data on information flows passing through managers of divisions of main and auxiliary production and departments. Information can be supplemented through interviews and questionnaires.

Step 2. Identification of technological responsibility centers (preliminary for step 4).

The center of technological responsibility includes a person or group of persons responsible for compliance with technological parameters in a certain area of ​​a structural unit. At this stage, the responsibility centers of production departments are first identified. This step is directly related to the functional units involved in managing the quality of construction products.

Main task– take into account the responsibility of workers for compliance with technological parameters and the quality of construction products.

Information materials: regulatory documents (SNiPs, GOSTs, VSN TU and other technological instructions), materials on the system of monitoring and supervision of construction in the interpretation of the requirements of the Common European Standards (Eurocodes), diagrams of the technological process and material flows, results of questionnaires and interviews.

Stages: 1) identification of points of technological responsibility (technological operation or group of operations); 2) determination of officials (employees of structural units), as well as the content of technological responsibility and its personification.

Step 3. Analysis of the controllability of costs, revenue, profits, investments by possible centers of responsibility and analysis of the functions of managers.

Main task– when allocating centers of responsibility, take into account the possibility of controlling costs, revenue (volume indicators in value and/or physical terms), profit (operating or marginal), investments and return on them; determine the scope of authority and responsibilities of the relevant managers.

Information materials: in-production reporting.

To reasonably determine the type of responsibility centers (costs, income, profits, investments), it is necessary:

· divide costs into controllable and uncontrollable. This includes linking direct costs to a responsibility center; determining the feasibility of linking general production indirect costs to the center of responsibility as controlled ones if the center is smaller than the division; development of a methodology for distributing these costs between centers (determining the cost distribution base, etc.); identifying the feasibility of linking general business indirect costs to the center of responsibility as controllable ones; development of a methodology for distributing these costs between centers (the cost distribution base is determined, etc.);

· determine the range of finished products transferred to other departments and the warehouse, the natural meter for each item and calculate transfer prices;

· determine the feasibility of calculating marginal or operating profit.

A description of the functions of managers of the main responsibility centers can be carried out on the basis of interviews and questionnaires of managers and specialists of departments of structural divisions according to the following grouping criteria: production preparation, production process, accounting and reporting.

Step 4. Identify a center of responsibility and define its type.

Main task– determine the type of responsibility centers and form an organizational structure for managing a construction organization based on responsibility centers.

Information materials: results of steps 1, 2, 3.

Stages: 1) preliminary analysis of the organizational structure based on responsibility centers for compliance with the centers of technological responsibility, the ability to control costs and income for them and for compliance with the functions performed; 2) final selection of types of responsibility centers; 3) construction of the final version of the organizational management structure diagram based on responsibility centers.

If centers of economic responsibility are allocated for budgeting purposes, the financial and organizational structure of the organization is formed on their basis (Fig. 6.3).

Rice. 6.3. Formation of the financial structure of a construction organization

There are three options:

· the financial structure of the construction organization is identical to the organizational management structure;

· in the financial structure, some organizational units are combined (for example, accounting, planning and financial departments);

· some parts of the basic organizational management structure (for example, the sales department) are divided into components.

Step 5. Construction of diagrams of interrelations between responsibility centers as an object, a subject of management and a partner (preliminary for steps 6 and 12).

Main tasks: taking into account the relationships of the center of responsibility as an object of management for the formation of packages of planned and estimated indicators (business indicators), as a partner for the formation of a package of self-supporting indicators, if the construction organization operates a system of intra-company entrepreneurship; identification of its internal relationships as a management subject for maximum combination in internal production reporting of indicators necessary for external (in relation to this center) users and center managers to provide information support for their decisions.

Information materials: internal regulations of divisions (subsidiaries), on the basis of which responsibility centers are formed; job descriptions, results of questionnaires and interviews of center managers, results of step 3.

Stages: 1) study of regulations on departments and services of a construction organization, job descriptions to determine the flow of intra-company responsibility and authority; 2) development of draft diagrams of interrelations of the center of responsibility as an object of management, partner, subject of management; 3) clarification of interconnection schemes based on interviews and questionnaires of managers of the responsibility center. In the absence of internal regulations on departments and services, as well as job descriptions, this procedure will be the initial one. During the survey process, managers of selected responsibility centers must, in particular, answer the question with which departments they have connections. After analyzing the questionnaire, divisions are selected for further study, and based on the results of the questionnaire, conversations are held with managers and counterparties in intra-company cooperation and management to determine relationships and rank them as an object, a subject of management and a partner; 4) constructing diagrams of relationships between the center of responsibility as an object of management, a partner and a subject of management; 5) analysis of the use of relationships by counterparties and optimization of relationship schemes (the needs of managers of corresponding responsibility centers are examined, the range of management decisions, for example, made by the center manager based on the information received, is described); 6) use for testing in steps 6 and 10.

Next, a logical analysis of the significance and appropriateness of the relationships, the reasons for mutual claims, the possibilities of taking them into account and using them in motivation is carried out. Recommendations for optimizing relationships are formulated. The final interconnection diagrams are the information basis of the test for the next step of the technique.

Step 6. Formation of packages of performance indicators for the responsibility center.

Main task– formation of packages of planned, estimated and self-accounting indicators of the responsibility center. Different users require their own package of information. The composition and content of the indicators depend on the operational, tactical and strategic tasks of the center and its intra-company relationships. Indicators are used in the regulations on material incentives and are the basis of internal company plans and reports.

Information materials: forms of internal plans and reports of divisions of a construction organization, on the basis of which responsibility centers are formed; results of steps 3...5, questionnaires and interviews.

Stages: 1) grouping performance indicators of responsibility centers in accordance with step 4; 2) analysis of the composition, quantity and content of indicators from the point of view of sufficiency (redundancy) to support the tasks solved by the manager of the responsibility center; 3) analysis of packages of indicators from the point of view of reflecting the interrelations of the center; 4) final formation of packages of indicators.

In accordance with the goals, three main groups of indicators can be distinguished that characterize the results of construction production (volume and quality of construction products), the amount of material and labor resources, and the costs of producing construction products.

Step 7 Studying the structure of document flow (preliminary for steps 10 and 11).

Main task– study of the existing document flow system to assess the possibility of its application to the organizational structure of the management of a construction organization based on the center of responsibility, as well as to optimize document flow.

Information materials: diagrams of the organizational structure of management of a construction organization and its divisions, technological processes, material flows, interrelations of divisions; forms of primary documents, plans, summaries, reports; results of surveys and interviews of company employees.

Stages: 1) construction of schemes of accounting points of the main production, auxiliary production, functional services; 2) constructing diagrams of their relationships, collecting completed forms of documents and reports on accounting points, their systematization; 3) description of the deadlines for submission, direction of movement of documents and reporting forms; 4) construction of thematic and consolidated document flow diagrams; 5) logical and requisite analysis of documents, the paths of their passage in the process of creation, coordination and approval;

Step 8 Studying the state of norms and standards, their improvement (preliminary for steps 10 and 12).

Main task– analysis of the state of the information base for accounting for responsibility for costs and performance results; accounting for deviations.

Information materials: regulatory federal departmental documents (GOSTs, SNiPs, VSN TU), technological instructions, requirements for general construction and special construction and installation works, quality of building materials, products and structures; results of questionnaires and interviews.

Stages: 1) analysis of the availability of norms and standards for technological process operations and production factors; 2) selective assessment of the state of standards, analysis of the technology for their calculation (technically sound, experimental and statistical), taking into account production conditions when calculating them; checking for the “application of outdated standards” test when using industry standards, random checking of the correct application of standards; 3) assessment of the relationship and consistency of norms and standards at all stages of the production process and all levels of management; 4) analysis of the regulatory management system (the presence of a center of responsibility, centralization of the processes of development, adjustment and control of norms and standards on the scale of a construction organization, documents regulating procedures and calculations of norms; coordination of changes in norms with department heads; ensuring an optimal balance between the dynamism and stability of norms and standards); 5) analysis of classifiers of norms and regulations for the construction organization as a whole and for each designed responsibility center.

Step 9 Providing other conditions for the functioning of accounting across responsibility centers.

Main task– creating conditions for the effective functioning of the accounting system by responsibility centers.

Information materials: results of previous steps, information on market prices, working chart of accounts, etc.

Stages: development of transfer prices, working chart of accounts to account for activities and responsibilities for allocated centers, codifiers of deviations and those responsible for them, etc.

Step 10 Formation of internal reporting forms for responsibility centers (preliminary for step 12).

Main task– creation or improvement of forms of internal reporting of responsibility centers.

Information materials: forms of internal plans and reports of divisions of a construction organization, on the basis of which responsibility centers are formed, and the results of steps 6...8.

Stages: 1) grouping of reporting forms by designated centers; 2) analysis of the relevance of existing forms; 3) analysis of the sufficiency of forms to perform the functions of the center; 4) construction of reporting forms for centers.

Step 11 Optimization of the document flow scheme and internal reporting of reporting centers - bringing it into line with management needs while simultaneously reducing the costs of their maintenance.

Information materials: results from step 7.

Stages: 1) pre-design survey or description of the construction organization; 2) a detailed description of the existing document flow; 3) analysis of the qualitative content of information; 4) optimization of document flow; 5) creation of standards (instructions).

Step 12 Development of a regulation for accounting by responsibility centers - a document in which, based on the results of steps 2...6, 8...10, the tasks and functions of the unit, relationships in intra-production cooperation, etc. are determined. The regulation should include a description of the procedures for technological or management operations, diagrams material and information flows.

In addition, examples of changes in the controlling system could be the refusal to prepare actual cost estimates, the introduction of a transfer pricing system, the refusal to use markups based on the calculation of machine hours, and reducing the number of cost centers by building a process-oriented structure.

When building a cost management system for centers of economic responsibility, first of all, it is necessary to ensure transparency of market conditions and requirements for control rolling.

Added to the site:

1. General provisions

1.1. The financial department, being an independent structural unit 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. The head of the financial department has [fill in the required] deputy(s).

The duties of the deputy(s) are determined by the head of the financial department.

1.5. The deputy(s) and heads of structural divisions (bureaus, sectors, etc.) within 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:

Charter of the enterprise;

This provision;

Legislation of the Russian Federation;

1.7. [Enter as appropriate].

2. Structure

2.1. The structure and staffing levels of the department are approved by [name of the position of the head of the enterprise], based on the specific conditions and characteristics of the enterprise’s activities, upon the proposal of the head of the financial department and in agreement with the [HR department, organization and remuneration department].

2.2. The financial department may include structural units (services, bureaus, groups, sectors, etc.).

For example: bureau (sector, group) of financial and credit activities, bureau (sector, group) of financial and investment activities, bureau (sector, group) of accounting for fixed assets and intangible assets, bureau (sector, group) of securities, bureau (sector, group) methodology and taxation, bureau (sector, group) of operating expenses, bureau (sector, group) of analysis of financial and economic activities, bureau (sector, group) of financial planning.

2.3. Regulations on the divisions of the financial department (bureaus, sectors, groups, etc.) are approved by the head of the financial department, and the distribution of responsibilities between employees of the divisions is carried out by [heads of bureaus, sectors, groups; deputy heads of the financial department].

2.4. [Enter as appropriate].

3. Objectives

The finance department provides the following tasks:

3.1. Organization of the financial activities of an enterprise with the aim of making the most efficient use of all types of resources in the process of production and sales of products (works, services) and obtaining maximum profit.

3.2. Implementation of a unified enterprise policy in the field of finance.

3.3. Control over the use of the company's working capital and loans.

3.4. Analysis of the financial and economic condition of the enterprise.

3.5. Development of the enterprise's credit policy.

3.6. Development of accounting and tax policies.

3.7. Management of working capital, accounts payable and receivable, as well as costs.

3.8. Ensuring timely tax payments to the budget, settlements with creditors and suppliers.

3.9. Creating conditions for the effective use of fixed assets, labor and financial resources of the enterprise.

3.10. [Enter as appropriate].

4. Functions

The financial department is assigned the following functions:

4.1. Development of a financial strategy for an enterprise and a basis for its financial stability.

4.2. Managing the movement of financial resources of an enterprise and regulating financial relations that arise between business entities in order to make the most efficient use of all types of resources.

4.3. Drawing up drafts of long-term and current financial plans with the attachment of all necessary calculations.

4.4. Preparation of materials for drawing up a business plan for an enterprise.

4.5. Participation in the preparation of draft plans for the sale of products (works, services), capital investments, scientific research and development.

4.6. Development of forecast balances and cash budgets.

4.7. Participation in planning product costs and profitability of production.

4.8. Developing forecasts for profit expectations, calculating income taxes, drawing up profit distribution plans for the year and quarters.

4.9. Determining the need for own working capital and calculating working capital standards, planning measures to accelerate their turnover.

4.10. Work on raising own funds and attracting borrowed funds.

4.11. Determination and implementation of investment policy, participation in the work of finding additional investment and financial resources.

4.12. Interaction with credit institutions regarding 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 concluding agreements on the provision of loans. Financial registration of received loans.

4.14. Work on timely repayment of loans and return of received loan funds within the established time frame.

4.15. Ensuring the implementation of credit plans, including payment of interest on the loan.

4.16. Development of a strategy for introducing the company's securities to the stock market with determination of the costs of using various stock instruments:

Determination of the type of securities (shares, bills, bonds);

Selecting a primary securities dealer or portfolio investor and agreeing with him on the terms of sale and trading platform for primary trading;

- [fill in what you need].

4.17. Work with securities (purchase of shares, bonds, etc.), control over the securities portfolio.

4.18. Determining the amount of costs for paying 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 capital investments. Development and approval of a capital investment plan.

4.21. Determination of the procedure and conditions for financing capital or current repairs of fixed assets, preparation of proposals for attributing expenses to the cost of production.

4.22. Ensuring timely receipt of income.

4.23. Registration of financial, settlement and banking transactions within the established time limits, including submission of payment requests, orders and other settlement documents to banks, receipt of documents for the shipment of products, account 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 established by the servicing bank in the cash registers of the enterprise in accordance with the expectation of establishing a cash balance limit for the enterprise and issuing permission to spend cash from the proceeds received at its cash desk.

4.26. Ensuring timely receipt of funds for shipped products (work performed, services rendered), as well as timely payment of invoices to suppliers and contractors for shipped material assets (work performed, services rendered) in accordance with concluded contracts.

4.27. Organization of work on the transfer of payments and contributions for taxes and fees to the federal budget, budgets of constituent entities of the Russian Federation, local budget.

4.28. Preparation of necessary materials for mutual offsets.

4.29. Development and implementation of measures to promote timely payments, selection of forms of settlements with counterparties and ensuring compliance with settlement rules.

4.30. Drawing up and submitting to the tax authorities the established documentation on the financial and economic activities of the enterprise.

4.31. Ensuring timely and complete payment of wages to employees of the enterprise.

4.32. Ensuring financing of costs provided for in financial plans and capital investment plans.

4.33. Participation in the development of proposals aimed at:

Ensuring solvency;

Prevention of the formation and liquidation of unused inventories and excess stocks;

Increasing production profitability;

Increased profits;

Reducing production and sales costs;

- [fill in what you need].

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 financial accounting and reporting standards.

4.36. Monitoring 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 them to the structural divisions of the enterprise.

4.39. Monitoring the implementation of financial plans by structural divisions.

4.40. Compilation and provision to the management of the enterprise:

Information about receipt of funds;

Reports on the progress of credit and financial plans;

Information about the financial condition of the enterprise;

- [fill in what you need].

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 an enterprise's foreign exchange policy.

4.44. Development of proposals to reduce financial risks and insurance programs.

4.45. Determining the enterprise strategy in the field of leasing operations, implementing leasing financing.

4.46. Development of measures for the sale, lease and pledge of part of the assets, liquidation or mothballing of individual capacities and facilities (including unprofitable ones, mobilization ones).

4.47. Maintaining daily operational records of financial plan indicators, including recording:

Volumes of products sold;

Profits from sales;

- [fill in what you need].

4.48. Analysis of the financial and economic activities of the enterprise quarterly and for the year as a whole.

4.49. Participation in identifying types of products (works, services) that have no demand in 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 volume of funding for research, development and design and survey work in accordance with estimates and contracts agreed upon with the structural divisions of the enterprise.

4.52. Coordination of contracts for the implementation of research and development work in terms of the validity of the cost of work, as well as compliance with the terms of payment for work.

4.53. Determining the directions and volumes of financing by the enterprise of social programs (children's preschool institutions, educational institutions, charitable events, etc.).

4.54. Control over:

Implementation of financial plans and budgets, product sales plans, credit and cash plans, plans for profit and other financial indicators;

Cessation of production of products that are not marketed;

Proper and efficient use of funds;

Targeted use of own and borrowed working capital for structural divisions and for the enterprise as a whole;

Compliance with cash discipline;

Correct preparation, execution and approval of estimates, calculations of return on capital investments;

- [fill in what you need].

4.55. Participation in determining financial terms in concluded business agreements, examination of draft agreements 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 instructional materials related to the financial activities of the enterprise.

4.59. Development of guidelines on financing operating expenses, capital investments, and other types of activities.

4.60. Consideration of appeals and letters from 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 and 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 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 transparency of the financial condition of the enterprise (based on improving management accounting, transition to international accounting standards).

4.66. Development of draft instructional materials on financing, accounting, reporting and other financial and economic aspects within 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 appropriate].

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;

Request and receive from other structural divisions of the enterprise data on the analysis of the economic activities of the enterprise, necessary for the activities of the department;

Conduct correspondence on issues of financial accounting and reporting methodology, as well as on other issues that are within the competence of the department and do not require approval from the head of the enterprise;

Do not accept for execution and registration documents on transactions that contradict the law, violate contractual and financial discipline, without the corresponding order of 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 extra-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 enterprise’s employees to material and disciplinary liability based on the results of inspections;

Conduct meetings on issues of financial and economic activities of the enterprise;

In agreement with [name of the position of the head of the enterprise]

Or, as his deputy for commercial matters, engage 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 endorses 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 relocation of management employees, their encouragement for successful work, as well as proposals on the imposition of disciplinary sanctions on employees who violate labor discipline.

5.4. [Enter as appropriate].

6. Relationships (official connections)

Note. This section is given as indicative, since over time, official connections between structural and other divisions change (“polished”) and appropriate changes and additions are made to the regulations on divisions.

To perform the functions and exercise the rights provided for in these regulations, the financial department interacts:

6.1. With the department of the chief accountant on issues:

Receipts:

Lists of creditors and debtors;

Accounting information about the activities of the enterprise;

Balance sheet and operational summary reports on income and expenses of funds, on the use of the budget;

Reporting calculations of the cost of products (works, services);

Plans for conducting inventories of fixed assets, inventory and cash;

Payroll calculations;

- [fill in what you need].

Providing:

Financial, credit and cash plans;

Reports on loan repayments, interest payments on loans;

- [fill in what you need].

6.2. With the planning and economic department on issues:

Receipts:

Medium-term and long-term plans for the production activities of the enterprise;

Copies of planned economic targets of the enterprise divisions;

Planned technical and economic standards for material and labor costs;

Projects of wholesale and retail prices for the enterprise’s products, tariffs for work and services;

The results of economic analysis of all types of enterprise activities;

- [fill in what you need].

Providing:

Financial and credit plans;

Reports on the implementation of financial plans;

Results of financial analysis;

Methodological and instructional materials on the financial activities of the enterprise;

- [fill in what you need].

6.3. With the logistics department regarding:

Receipts:

Projects of long-term and current plans for material and technical support of the enterprise’s production activities;

Reporting data on the movement of material and technical resources, their balances at the end of the reporting period;

Copies of claims submitted by counterparties;

Draft claims against counterparties in case of violation of contractual obligations;

Reports on the implementation of logistics plans;

- [fill in what you need].

Providing:

Agreed draft claims;

Proposals to eliminate the reasons that served as the basis for filing claims and sanctions against the enterprise;

- [fill in what you need].

6.4. Contact the sales department regarding:

Receipts:

Draft contracts and agreements for the supply and sale of finished products;

Forecasts and product sales plans;

Data on the state of finished product inventories and their compliance with approved standards;

Plans and schedules for product shipment;

Data on product balances in warehouses;

Proposals for measures to reduce excess balances of finished products and speed up sales operations;

- [fill in what you need].

Providing:

Financial plans;

Information about unpaid invoices by counterparties;

Information from banks about letters of credit issued by buyers (customers);

Notices of the application of financial sanctions to buyers (customers) who have violated their obligations to transfer funds for purchased goods;

Approved calculations of working capital standards;

- [fill in what you need].

6.5. With the marketing department regarding:

Receipts:

Generalized data on demand for products manufactured by the enterprise (work performed, services provided);

Marketing plans;

Cost estimates for demand generation and sales promotion, advertising campaigns, participation in exhibitions, fairs, and sales exhibitions;

Information on the competitive environment regarding pricing policy, turnover volumes, competitiveness, speed of product sales;

- [fill in what you need].

Providing:

Agreed cost estimates for demand generation and sales promotion with financial justification attached;

Analysis of costs incurred per month (quarter, year);

- [fill in what you need].

6.6. With the economic department on questions:

Receipts:

Plans for current and major repairs of the enterprise's fixed assets (buildings, water supply systems, etc.);

Estimates of business expenses;

Office equipment, document forms and office supplies necessary for the work of the financial department;

Material assets necessary for servicing meetings, conferences, seminars;

- [fill in what you need].

Providing:

Agreed estimates of business expenses;

Calculation of the return on capital investments for the introduction of new equipment and mechanization;

Applications for necessary equipment and office supplies;

Reports on the use and safety of equipment and inventory;

- [fill in what you need].

6.7. With the legal department regarding:

Receipts:

Decisions on claims and lawsuits brought against the enterprise;

Generalized results of consideration of claims, court and arbitration cases;

Explanations of current legislation and the procedure for its application;

Legal assistance in claims work;

Agreed materials on the status of receivables and payables, proposals for forced collection of debts;

Analysis of changes and additions to financial, tax, civil legislation;

- [fill in what you need].

Providing:

Draft financial agreements for legal review;

Materials for filing claims, lawsuits in courts;

Conclusions on claims and lawsuits brought against the company;

Documents on the transfer of funds for payment of state duty to satisfy claims and claims brought against the enterprise;

Applications for clarification of current legislation;

- [fill in what you need].

6.8. From [name of structural unit] on issues:

Receipts:

- [enter as required];

- [fill in what you need].

Providing:

- [enter as required];

- [fill in what you need].

7. Responsibility

7.1. The head of the financial department is responsible for the proper and timely performance by the department of the functions provided for by these regulations.

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 presentation of reliable consolidated financial statements and compliance with the deadlines for their submission to the relevant divisions of the enterprise, to the head of the enterprise, to tax, financial and other authorities;

Providing company management with information on financial issues;

Timely and high-quality execution of documents and instructions from the management of the enterprise;

Preventing the use of information by department employees for non-official purposes;

Compliance with labor regulations by department employees.

7.3. The responsibilities of financial department employees are established by job descriptions.

7.4. [Enter as appropriate].

Head of structural unit

[initials, surname]

[signature]

[day, month, year]

Agreed:

[official with whom the position is agreed upon]

[initials, surname]

[signature]

[day, month, year]

Head of Legal Department

[initials, surname]

[signature]

[day, month, year]