ESSENCE OF THE DEPARTMENT
The purpose of the department is to provide a full-scale analytical support to the company management.
The department is established mainly to provide all necessary information with regard to obtained results to the company management, as well as to execute planning and analytical work.
This information is necessary to make corresponding managerial decisions, to eliminate negative effects and to achieve the best performance indicators.
The similar departments in other companies around the world are engaged in preparation of information about facts, trends, performance indicators, omissions and goals specified in business development maps.
However, these are not the only tasks of the department!
- Efficient preparation of financial information;
- Skills to manage complex issues;
- Timely execution of assigned tasks;
- Continuous optimization and introduction of innovations to work;
- Work plan elaboration and adherence;
- Clear allocation of responsibilities and maintenance of the interoperability;
- Continuous commitment and studiousness,
- Respect and observation of laws, policies, etiquette and procedures;
- Active participation in company teamwork;
EXAMPLES OF KEY WORKS
- 1.Company balance sheet over the certain reporting periods (Summary and detailed);
- 2.Profit and loss statement;
- 3.Comparative balance sheet;
- 4.Annual reports (containing analysis of table values and explanatory text);
- 5.Periodic reports including monthly and quarterly sales reports and results of advertising campaigns;
- 6.Financial performance analysis with trends, schemes, comparison data, etc.
- 7.Analysis of product line efficiency and calculation of financial ratios including “Break-even point”, “ROS”, “ROE”, “ROA”, “CIR”, “Work load”, “Structure and staff efficiency”, etc.
- 8.Report on complex analysis of targeted projects;
- 9.Annual company budget;
- 10.Report on annual company budget execution (on a monthly basis);
- 11.Information about the implementation of business projects;
- 12.Prompt information provision as required by management;
- 13.Information about administrative costs;
- 14.Responses on requests of concerned parties (partners, offices, etc.).
- Lack of corresponding software programs necessary for automatic preparation of reports, analysis and budgeting may require manual work execution.
- Limited experience and knowledge of the personnel with regard to efficient and timely task execution may require additional training.
- As the department should inform the management about the mistakes made by other divisions, there could arise conflicts, passive and other negative attitude to work. This requires persistence and skills to resolve the conflicts.