· Choose one of the organizational departments of a business: accounting, finance, HR, or otherwise. What is the role of this department? What type(s) of information does the department need? How does the department use that information?
Accounting department of an organization keeps record of all financial transaction to determine the financial position of the business. To determine the financial position of the business, the company has to prepare financial statements. To create the department need all types of transaction by the whole company in which is money is involved. It includes buying of assets, investment by owner, no of employees and their salary, the quantity to be sold, expenses incurred to generate these revenues etc. Form these information the accounting department generate financial statements to determine the profit or loss earned by the business and to know what is owed and owned by the business.