Importance of Accounting and Finance Functions, Duties and Roles

Project

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Importance of Accounting and Finance functions, duties and roles............................................3
TASK 2............................................................................................................................................6
Ratios, their calculations, and their appropriate interpretation....................................................6
Conclusion.......................................................................................................................................9
References........................................................................................................................................1

INTRODUCTION
I was asked to produce a report for the management of SKANSKA PLC, as per the
company's request (Smith, 2015). As a member of the financial department, I will assess the
significance of accounting and finance functions, responsibilities, and roles in this article. This
study will assess the core positions of SKANSKA's accounting and finance departments.
Depending on the structure of the corporation, the report will first determine the general duties
and position of the accounting and finance department, and then apply the roles and functions to
the SKANSKA PLC as a whole. Accounting and finance are essential components of every
company's operations. Profits and money are ultimately what companies aim for, and if the
revenue is misused, the organisation as a whole is poorly managed. Money flow can be
controlled and calculated by efficiently controlling the accounts and finances of the company's
expenses and earnings, thus directing the business course. An effective finance manager or
director must understand and comprehend every aspect of every business domain in order to
develop an effective financial plan that meets the company's goals.
Accounting communicates a large amount of financial information to key stakeholders like
clients, managers, and investors. Stakeholders use this information to evaluate the company's
financial performance and status. Until investing, investors, in particular, examine the
company's financial statements. Accounting's role in a business is to use numerical data to help
stakeholders make decisions. More importantly, it is the audit manager's or finance director's
responsibility to ensure that the information shared by the accounting manager or finance
director is understood by the stakeholders. As a result, it's very crucial to present the data in a
way that experts would understand. It's not difficult to collect only the numbers. However,
analysing, assessing, and interpreting data can be difficult at times. A qualified accountant
establishes a transparent presentation of financial information that efficiently communicates
with stakeholders (Armstrong et al., 2010).
TASK 1
Importance of Accounting and Finance functions, duties and roles
Skanska worked on a variety of tasks, and the personnel management hierarchy had basic
roles that project managers had to carry out. The importance of construction projects in
contractor organisations like Skanska is critical to project success. The first job was to manage
the building projects and works, which required a simple delivery and labour division for the
rest of the team. Second, project managers at Skanska were in charge of more cost-effective
work, such as ensuring that proper time limits were set and met by different staff. When new
tasks emerged, the project managers were still in charge of staffing. This was accomplished in a
cost-effective manner, with financial commitments met successfully while losses were