
115
17
Financial Controls
e job of nance is to set up controls to measure and report deviations
from the business plan and to provide timely information on the state
of the business both inside the company and to the outside world. e
nance department must design nancial controls and reporting systems
to accomplish this goal.
It is important for nancial controls to organize the company into man-
ageable entities. From the standpoint of budgeting and nancial control,
the company should be organized into prot centers and these prot
centers should be divided into cost centers. Prot centers should be mar-
ket oriented. is becomes clear in la ...