The objectives of the Department of Finance vary according to the type of institution and industry in which it operates. Here are some general goals that the Department of Finance may pursue:

 

1) Financial Resources Management: The Finance Department aims to manage the organization’s financial resources effectively. These include financial planning and forecasting, preparing budgets and financial reports, cash flow management, investments, taxes, and debt and credit management.

 

2) Achieving financial balance: The Finance Department seeks to achieve financial balance for the institution, by controlling costs and increasing revenues. It analyzes and evaluates financial performance and makes recommendations to improve efficiency and achieve specified financial goals.

 

3) Compliance with financial laws and regulations: The Department of Finance aims to ensure compliance with applicable financial laws and regulations. It works to verify the institution’s compliance with local and international financial legislation and ensure correct and appropriate disclosure of financial information.

 

4) Providing financial reports and analyses: The Finance Department seeks to analyze and evaluate the organization’s financial performance and provide accurate and reliable reports to management and concerned parties. It analyzes financial data and identifies future financial trends, opportunities and challenges.

 

5) Providing financial support and guidance: The Finance Department aims to provide financial support and guidance to the administration and the operational section. It provides financial advice and guidance regarding strategic financial decision making, investment planning and achieving set financial goals.