The finance function is responsible forensuring that funds are available for theactivities of the company. In addition, thisfunction ensures that the company is meetingthe financial goals of the company. Thisfunction must interact closely with each of theother business functions for the function'sneeds and its funding, whether ongoingactivities or new activities, and for tracking thecompany's performance.For this assignment, discuss how the financefunction is interrelated and connected to theother business functions.

A company's finance department is in charge of overseeing the organization's finances and making…

Answered: For this assignment, discuss how the…

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Finance

For this assignment, discuss how the finance function is interrelated and connected to the other business functions.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 7Q: Use the internet to research one for-profit, one governmental, and one not-for-profit entity. For...

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Concept explainers

Flow of Funds

The flow of funds is the financial accounts of the nation, which monitor and control the cash flow among various sectors or industries, or markets. Central banks use these flow of funds statements to acquire macroeconomic data, to publish cash inflow and cash outflow statements of the nation. This flow of funds system is utilized to identify economic activity and changes in the economy. It is used by Federal Reserve to determine the Gross Domestic Product (GDP) of the nation and to implement monetary policy and fiscal policies.

Question

The finance function is responsible for
ensuring that funds are available for the
activities of the company. In addition, this
function ensures that the company is meeting
the financial goals of the company. This
function must interact closely with each of the
other business functions for the function's
needs and its funding, whether ongoing
activities or new activities, and for tracking the
company's performance.
For this assignment, discuss how the finance
function is interrelated and connected to the
other business functions.

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