Final answer:
The functions that typically report directly to the vice president of finance are the credit department and controller, as well as the treasurer and controller. The correct answer is d. treasurer and controller, as they are responsible for managing the organization's financial strategy and reporting.
Step-by-step explanation:
The question pertains to the organizational structure of a finance department within a company and which functions would typically report to the vice president of finance. Within a corporate finance department, there are several key functions that handle different financial aspects of the business. The two functions that would be expected to report directly to the vice president of finance are the credit department and the controller, as well as the treasurer and controller.
Typically, the credit department is responsible for assessing credit risk, managing credit policies, and ensuring that the company extends credit to customers in a manner that maximizes revenue while minimizing bad debt. The controller, on the other hand, is generally in charge of the accounting operations, preparing internal financial reports, overseeing compliance with finance and accounting regulations, and often plays a critical role in budget preparation and financial forecasting. These roles are closely tied to the core responsibilities of the finance department and are thus likely to report directly to the vice president of finance.
In contrast, the shipping department is often part of the operations or logistics side of the business and does not typically have a direct reporting line to the vice president of finance. The accounts receivable department might report to the treasurer, who in turn would report to the vice president of finance. The treasurer usually handles cash and debt management, investments, and the financial aspects of strategic planning, making it another pivotal function that would directly report to the vice president of finance.
Considering the strategic importance and financial responsibilities handled by the treasurer and the controller, the most likely answer is d. treasurer and controller. They work closely with the VP of finance to manage the organization's financial strategy and reporting.