Financial Decision Making: Functions, Roles, and Duties in Accounting and Finance

Financial decision
making

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Detailed identification and evaluation of the functions, roles, and duties that carriers a lot of
importance regarding accounting and financial part of the business...........................................1
TASK2.............................................................................................................................................3
Identification, analysis, and evaluations of the facts and figures of the company with its
interpretation................................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Decision making and that if its related with the finances then it is very crucial as well as it
becomes very crucial for the enterprise since it is linked to the financial portion of the firm,
which is one of the most essential aspects of a company, financial decision making is both
fascinating and crucial (Arsen and DeLuca, 2016). As a consequence, in order to establish long-
term value for an organisation, it is important to analyse and interpret all of the variables that are
relevant to it in a very accurate, precise, systematic, and consistent manner. Any corporation that
exists in today's market, which is both competitive and dynamic, maintains a close eye on its
finance department to ensure that it is assisting in making reasonable and important decisions
that will help the company in the long run. SKANSKA PLC is the corporation under
investigation in this report. It has been operating in the United Kingdom for a long time and has
therefore amassed a large market share. This report examines all of the duties, roles, and
obligations that an accountant and employees in the finance department undertake for the
business. Aside from that, the research looks at and measures different types of ratios that are
currently in use and applicable from a market perspective, as well as offering an accurate and
efficient understanding of them.
TASK 1
Detailed identification and evaluation of the functions, roles, and duties that carriers a lot of
importance regarding accounting and financial part of the business
A business firm's activities are critical because they help to improve the process as a whole,
helping it to better sustain and withstand the current market environment, which is highly
competitive and complex. It also helps the company remain ahead of its rivals in a similar market
by evaluating all aspects of the industry in a way that contributes to the firm's long-term value
(Bastani and Bayati, 2020). Accounting and finance are two concepts that are extremely
important to a corporation because one aids in the management and keeping of records, while the
other aids in the making of appropriate decisions that will help the company grow and prosper in
its market. While the other makes financial decisions for the company and assists in the
allocation of available resources, all in a limited amount of time and with total accuracy and
effectiveness. As a result, both factors play a critical role in the business's activities, and their

roles, duties, and positions are addressed in depth below with regard to the company SKANSKA
PLC.
Accounting- It is one of the most critical practises that a company must undertake in order to
stay competitive in the market for a long time. It is mainly thought of as a method of finding,
recording, summarising, analysing, evaluating, studying, and making pertinent decisions to help
a business increase its profitability in the industry. SKANSKA PLC has a team of experts in this
area who are sufficiently trained to assist in effectively and efficiently tracking the company's
transactions in order to contribute to the long-term success of the organisation. The roles, duties,
and responsibilities of the organisation are listed below-
 Functions- An accountant's primary goal is to maintain reliable and detailed records of
all activities that occur in an organisation so that it can grow and succeed in the market.
In this field, SKANSKA PLC has hired highly qualified and intelligent staff so that their
experience and expertise can be put to use in the business to help achieve the specified
goals and objectives (Firouzjah, 2018).
 Duties- The most important job of an accountant is to study the books of accounts and
thoroughly cross-check and verify all sources in order to reduce the possibility of errors
and fraud while maximising the use of funds. SKANSKA PLC's accountant also
performs the aforementioned tasks in a responsible manner in order to contribute to the
company's long-term success.
 Roles- The primary responsibility of an accountant is to make necessary and fair
decisions that favour the company, and the accountants at SKANSKA PLC excel at both
of these tasks. Thus it can be said that it is very important for every company to have the
best of the accountants that are available in the market so that they can perform their roles
and responsibilities in an impactful manner which can help the firm to grow and prosper
in the long term scenario.
Finance- Tax structures, government spending, budget procedures, stabilisation strategy and
tools, debt issues, and other government considerations are traditionally divided into three
different categories by "finance." Corporate finance is the management of a company's assets,
liabilities, sales, and debts. Personal finance refers to any of an individual's or household's
financial choices and practises, such as budgeting, insurance, mortgage planning, investments,
and retirement planning. Since it is related to the organization's funds, it is a vital function that