Page 57 - E1 Integrated Workbook STUDENT 2018
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The purpose of the finance function
Activities fundamental to the role of
the finance function
1.1 Introduction
The finance function is responsible for the control of physical and financial resources
within the organisation.
1.2 Activities
Five key activities are fundamental to the role of the finance function:
Accounting operations For example, the preparation of statutory
reports or management accounts.
Analysis For example, provision of analysis to support a
pricing or investment decision.
Planning For example, the preparation of budgets or
forecasts.
Decision making For example, choosing the optimum source of
finance to fund an investment decision.
Control For example, comparison of actual results to
budgeted results together with any necessary
actions.
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