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GCSE Business · key term
The business activity responsible for managing financial tasks and providing financial information to support planning and decision making.
Used by OCR
Paper 2
Revise: Purpose of the Finance FunctionThe finance function manages financial tasks and provides the information needed to answer these questions.
The area of a business that manages financial matters and provides financial information to support planning and decision-making.
When explaining the purpose of the finance function, link providing financial information to business planning or decision making. Simply saying ‘it deals with money’ is too vague.
Distinguish the finance function from sources of finance: the function manages financial information and tasks; sources of finance are ways of obtaining funds.
Do not confuse the finance function with sources of finance: the function manages financial information and supports decisions; sources of finance are ways of obtaining money.
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