Coordination in any work place or institutions is of great help and vital in terms of relationship. With the different levels of management an organisation is not complete without proper and swift flow of responsibilities.
It starts by defining a road map of tasks individual departments have and their leaders are advocated in maintaining a swift flow, cordial and healthy relationship between person to person, from the seniors to the low level management.
Facility managers are important system in any given institution as they break the bulk of tasks and mandate other persons to act on them. Their contribution is the driving force and failure of their responsibilities is felt across from top to the bottom management. Facility managers are the face of the organisation and their healthy, hard work and determination is key to the success of the organisation.
The importance of accountability in a given organisation cannot go unnoticed. This is the benchmark that credits whether the targets set have been accomplished financially and if the resources available will be enough to run a given project. These accounting sections has different interpretation regarding the resource use.
Income Statement
Business is run by the resources and the source of these resources is important. The income statement describes how the income has been sourced, the layouts of the various uses of the income. It needs to balance for accountability and eliminating the mischievous act and demise of corruption.
Balance Sheet
This is a document the describes the balancing of the credit and the debits. The resources have a source and the end result they are to achieve. This therefore makes the balance sheet which is important in an organisation to help determine the worth in terms of assets, capital and the liabilities. All these indicates the position of an organisation compared to others. Either market leaders, followers or small businesses.
Cash Flow Statement
The various section and the structure of the organisation requires resources to run. The key department are the financial and accounting departments which deal with cash. For efficiency and effectiveness cash must flow from one department to another and thus cash flow statements indicate how various departments are faring in terms of finance. It also helps in identifying the key sections that require financing in a given financial year.
Finance is the driving force though the facilities dictate the amount of cash needed to run. The relationship between the two superior department need to be cooperative in terms of allocation and resources. They represent the face to the outside forces and how well they are coordinated the results are the tester.
Business incorporate risk of using their finance to facilitate their businesses. Proper and sufficient management flow widens opportunities and the responsible department emerge as winners.
To detect the weight of finances in management, failure to allocate it in the useful way may result to conflicts within department that leads to under-performing.
Conclusion
The cordial relationship between finance and management is important in terms of flow of accountability from one to another. The good relationship are the business track records and indicates the future levels in terms of asset and capital.
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