Finance function
The finance function supports stewardship and decisions by providing financial information, planning and controlling resources, and managing matters such as cash and funding. It works with other functions to understand activities and their financial consequences. Responsibilities can be organised internally, shared or outsourced, with clear accountability and suitable controls. The function is broader than recording transactions alone.
Worked example
Marketing proposes a promotion and operations estimates capacity needs. Finance helps evaluate the forecast margin, funding and cash timing, while the teams jointly assess feasibility and the appropriate decision maker approves the proposal.
Common mistake
Assuming finance makes every business decision or treating financial accounting as the only activity carried out by a finance function.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Direct | September 2026–June 2027 |
| ACCA | SBL | Supporting | September 2026–June 2027 |
| FIA | FBT | Direct | September 2026–June 2027 |