Two similar departments within a company’s organizational structure have significant functions and roles, but some people often misunderstand their duties. These are the Finance and Accounting departments.
Only a few professional workers understand the differences between their duties and roles. Ironically, these workers have had professional careers in various industries, both private and state-owned companies. So, let’s dive into the differences between the two.
The Finance department is responsible for financial analysis and decision-making in a company. This involves creating budgets, determining interest rates, and deciding how to allocate financial resources, covering operational costs, profit allocation for business development, reserve funds, investments, etc.
On the other hand, accounting is responsible for recording, classifying, and analyzing financial transactions. Its primary task is to provide accurate and reliable financial information to stakeholders, such as the board of directors, shareholders, and creditors.
Such financial information includes transaction recording, financial statement preparation, and auditing. The purpose is to determine how to maximize the company’s value for shareholders.
Clear-cut differentiations of both roles are as follows. Individuals working in finance often serve as financial analysts, investment managers, and risk managers. Meanwhile, accounting professionals often function as accountants, financial analysts, or auditors.
The finance department’s job has a longer-term focus as it projects the company’s future. In contrast, accounting focuses on the company’s current or recent financial conditions.
However, the roles and functions of both departments escalate following the company size. The larger the company, the more complex and intricate the tasks of each field become.
A need is thus raised for individuals possessing not only intellectual and physical capacities but also a resilient mindset. They must be detail-oriented, cautious, resolute, and have strong endurance.
Complex and demanding tasks certainly come with satisfying compensation and rewards, comprising not only the basic salary and allowances but also bonuses and other rewards.
However, it all depends on the company’s sole discretion. Only reputable companies with established systems implement such a system.
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PT Serasi Autoraya, also known as SERA, is a company that has a well-established system and culture. The company is part of Astra International, the largest transportation company in Indonesia.
SERA has a widespread business network that covers many major cities in Indonesia. It offers various services, from vehicle rental services under TRAC, used car dealership by mobil88, IBID auction house for motorcycles and other vehicles, to transportation and logistics services by SERA Logistic or SELOG.
Currently, SERA offers job opportunities for the most promising professionals in Indonesia to take on various positions and roles within its business units. For more details about careers and job opportunities at SERA, visit its official website at https://career.sera.astra.co.id/