In an organization different types department work in different style as work and task style are organized and designed by the top management or top authority. However it is true that all types of department in an organization must have to include in accounting department as every department money transactions need to records in accounting department and every department managers are liable to provide all types money transaction which has happened during the business time for this reasons we can say that every departments are directly or indirectly need to include with the accounting department. From that view we can say that accounting department is the conjunction point of every department in an organization.
Everyone get benefit from it:
In an organization if we set up an effective accounting department then it would help everyone at any time when need. The accounting department works for every department all the year round and records all types of transaction, on the other hand it helps us to find out previous record in an organization and that record also helps an organization to analyze the real economic condition of an economic year. An effective analysis helps a company to find out the weakness and strangeness of it. If a company analysis its one year records from accounting department then it can easily find out the real efficiency of that company. So we say that accounting department not only keep transactions records but also helps us to find out the economic condition of an organization.
Helps to make managerial decisions:
If an organization keep proper records by the helps of accounting department then managerial committee can analyze it by seen its records and terms as at present maximum company use different accounting software for their organizational records so it become very easy to see all types of transactions and money transaction record of an economic year . Managerial committee always tries to analyze the financial strength of an organization by analyzing its previous records of money transactions in internal sectors and external sectors. On the other hand managerial committee also calculates the amount of cash capita and the amount of loan and liability of an organization. So it is true that a proper accounting system can help every managerial committee through several ways not only provide the money transaction records. So it is necessary for every organization to keep strong administration in accounting department so that an organization can build its financial strength and can run its business.
Easily forecast near future:
For being accounting department records managerial committee can easily forecast the future financial condition of a company as they can easily find out the previous financial records of a company. So we can say that accounting department is a big arm to keep alive of a company and accounting department also helps an organization to run its business and also helps of an organization to compete in the running market. As every managerial committee take the data from accounting department of an organization to design it market domination strategy and for this reason we can easily that a good administrated accounting department can boost economic system of an organization.