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

Which of the following is the primary purpose of the finance function within an organisation?

The finance function's primary purpose is to provide financial information and manage financial resources so that managers and external stakeholders can make decisions and control the business. Staff recruitment is a human resources task, and promoting products is a marketing task, not finance.

  1. ATo manage the recruitment and training of all staff
  2. BTo provide financial information and manage financial resources to support decision-making and controlCorrect
  3. CTo design and promote the organisation's products to customers

Explanation

The finance function exists to record, report and analyse financial information and to manage funds so that managers and external parties can make decisions and exercise control. Recruitment and training belong to human resources, and product design and promotion belong to marketing.

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