MANAGEMENT

Detailed explanation-1: -Firstly, the finance function can simply be taken as the task of providing funds needed by an enterprise on favourable terms, keeping in view the objectives of the firm. This means that the finance function is solely concerned with the acquisition (or procurement) of short-term and long-term funds.

Detailed explanation-2: -The finance function in business refers to the functions intended to acquire and manage financial resources to generate profit. It produces relevant financial resources and information contributing to the productivity of other business functions, planning, and decision-making activities.

Detailed explanation-3: -Finance is responsible for setting the budgets and creating spend and revenue reports, and procurement is responsible for sticking to those budgets, as well as making sure the items purchased have been received and paid for by finance. The two should align on KPIs to make the most of their collaboration.

Detailed explanation-4: -Finance Functions-Investment Decision, Financial Decision, Dividend Decision and Liquidity Decision.

Detailed explanation-5: -There are two main purposes of the finance function: to provide the financial information that other business functions require to operate effectively and efficiently. to support business planning and decision-making.