Hlt-313 Week 4 Discussion Question 1

HLT-313 Week 4 DQ 1Overlapping in the accounts function and the finance function in an organizationThe accounting and finance functions in an organization are very important and sensitive in an organization as they are both responsible for the circulation of cash in the organization. The two departments must, at all cost, work well with each other because the decisions made by one department will automatically effect the others even thou their functions are different.The accounts function The main functions of the accounting department are making payments and keeping the bills paid for all purchases, receiving money coming in to the organization, ensuring that all workers are paid, filling returns of taxes, preparing and ensuring books of account are well kept, coming up with ways to eliminate errors, frauds, and theft in the department and presenting books for auditing.The finance functionBasically, the finance department plans for the future of the organization using past information about the company to make predictions (Caltworthy & Lee, 2018). The functions of the finance department include strategic planning and financial planning analysis, treasury and working capital management, capital budgeting, risk management, and corporate development and strategy.OverlappingDespite the difference in the functions of