|
|
Re-engineering the finance function.(finance function comparisons)
- Article from:
-
Management Accounting (British)
- Article date:
-
February 1, 1996
- Author:
-
|
Copyright informationCOPYRIGHT 1996 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Various aspects of the finance function are reviewed to provide enough information to re-engineer the role for the year 2000. The cost of finance functions activities varies enormously, and is reported to equate to 0.5% and over 7% of sales revenue. Greater value to the function has been achieved in some organisations, and this is reflected in the difference in its overall cost. The traditional finance function, which is known to focus on company financial results of the past, should be more forward-looking, and report output costs as well as department inputs.
It is often said that a frequent requirement for recruitment into the finance function is a lack of interest in ski-ing. This is ...