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ACCA Applied Knowledge · Business and Technology · The relationship between accounting and other business functions

Which of the following best describes how the finance function supports the organisation's other functions such as marketing and operations?

The finance function supports other functions by providing financial information, budgets and analysis so they can plan and monitor their performance. It advises rather than replaces their decision-making, and it serves internal managers as well as external stakeholders.

  1. ABy taking over their decision-making responsibilities
  2. BBy providing financial information, budgets and analysis to help them plan and monitor performanceCorrect
  3. CBy ensuring they operate without any budget limits
  4. DBy dealing only with external stakeholders and not with internal managers

Explanation

Finance acts as a support function, supplying budgets, cost data, and performance analysis to other departments to inform their decisions. It does not take over their decisions, remove budget limits, or deal only with external parties.

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