The business's finance function

Question 1

4 main finance functions

Answer 1

Recording financial transactions

• financial reporting (external)
• management accounting (internal)
• treasury management (internal)

Question 2

What is business partnering?

Answer 2

Members of the finance function partnering within functional areas of the business e.g Marketing, IT, procurement or operations

Question 3

Common performance measures

Answer 3

• Profitability
• Activity
• Productivity

Question 4

Kaplan and Norton suggested that performance indicators should consider 4 perspectives

Answer 4

• Financial
• Innovation and learning
• Internal business
• Customer

Question 5

3 types of sustainability

Answer 5

• Social
• Environmental
• Economical