Bpp learning Media is an acca approved Content Provider

payables ledger section 
relies on the purchasing department to send copies of purchase 
orders and confirm the validity of invoices received from suppliers, and also to inform the 
payables ledger staff about any despatches concerning goods received, or purchases returns. The 
section also relies on the cashier to inform it of all payments of invoices. 
(b) The 
receivables ledger section
relies on 
sales staff 
to send copies of sales order or confirmations 
of goods delivered to customers, and on the cashier to pass on information about payments 
received. 
(c) 
The receivables ledger section must also co-operate with 
debt collection staff
, by helping to 
prepare monthly statements and lists of aged receivables. 
Credit control
work and the work of the 
debt collection staff are also closely interdependent, relying on the free exchange of information 
between them. 
(d) The 
financial accounting 
staff responsible for the preparation of the annual accounts might rely 
on the management accounting staff for data about inventory records, so as to place a value on 
closing inventory in the accounts. 
As 
information providers
to other managers in other departments in the organisation, accountants 
cannot be fully effective unless they work in co-operation with these other managers. 
1.7.8 The finance department and strategic planning 
The role of finance is threefold. 
(a) 
Finance is a 
resource
,
which can be deployed so that objectives are met.
(b) 
A firm's objectives are often 
expressed in financial or semi-financial terms
.
(c) 
Financial controls 
are often used to plan and control the implementation of strategies. Financial 
indicators are often used for detailed performance assessment.
As a planning medium and tool for monitoring, financial management makes a variety of strategic 
contributions. 
(a)