The activities expected from a finance department cover a wide range from basic bookkeeping to providing information to assisting managers in making strategic decisions. At the base level, the finance department will be responsible for all the day to day transnational accounting for the business. This will include the tracking of all transactions and the management of reporting. The Finance department’s also extends right through to preparing the financial statements with an external auditor engaged for assurance purposes.The finance department is also responsible for management of the organization’s cash flow and ensuring there are enough funds available to meet the day to day payments. This department is headed by the Head of Finance.