Finance dept. in Japanese companies (vol.1)
TweetFinance department in Japanese companies are not always same as the ‘finance’ department in other countries.
Finance functions are almost same such as book keeping, collecting money from customers, paying money to suppliers and reporting to the management.
Most of Japanese (especially domestic) companies pay attention on accuracy and tax-oriented accounting. Monthly closing sometimes require more than two weeks, that is because such accounting method does not allow accruals for tax reasons.
Another difference is FP&A function. Most of Japanese companies’ finance consist of financial accounting and treasury, but not FP&A.
Such business analysis and planning function is provided by a corporate planning section, or planning section even in sales section or other operational sections.
It is important how to establish the relationship between finance and such corporate planning sections in terms of analysis in financial point of view.
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