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Financial Affairs Department Report

Financial Affairs Department Report

This report contains the most important tasks carried out by the Financial Affairs Department in TryFold Company.
The capital required to establish TryFold Company is 504.000 RO. The number of stock to be sold is equal to 252 shares (value of each share = 2.000 RO) . Stock were distributed as the following: (40% of the company's shares to employees and managers which is equivalent to 101 shares of stock, 60% of the company's shares to outside shareholders which is equivalent to 151 shares stock).
The total costs required for the disbursement of the salaries of all managers and employees were calculated as the following: (the salary of TryFold's Executive Manager is 0.100 Bz, the salary of each department director is 0.050 Bz the salary of each employee is 0.025 Bz).
Note: the salaries will be disbursed in each meeting through the 12 major meetings under the umbrella of the completion of Oman.
Sections of Financial Affairs Department
Budget Section:
Budget Department is the main focus of the company's capital exchange plan in all areas where it has a table contain of all necessary expenses and it has five main items(basic salaries, allowances, marketing, production, other entitlements). The department works to commitment any additional amount to be cashed in any of the items listed provided that the balance between all the items without adding any amount out of the amounts specified because of the fixed budget.
Expenditure Section:
Department works on any exchange expenses is the amount of commitment by the department of the budget according to the following conditions:
The funds will be disbursed by the department only in the areas mentioned:
1. All about the tools and manufacture of the product
2. All about marketing department only after the approval of the Director of Marketing
3. Exchange the money for fuel expenses only in the case of movement outside the boundaries of Muscat
4. Pay the salaries of managers and staff

Will not bear any exchange responsibility to the following authorities:
1. Food during business trips and other
2. Fuel within the limits of Muscat
3. chargers mobile phone ( except the Director of Public Relations)
Accordingly, when the exchange any amount in any of the areas mentioned, will be given a deadline for the exchange period of 3 days to deliver a bill of exchange expenses and sign section p receipt of payment and registration of the remaining, if any.



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