What is the role of Finance in an organization?

Describe the finance function. Explain the role of finance and its importance within an organization. Finance has many functions within an organization, and there are many job titles to reflect the varied job responsibilities. The comptroller, or more commonly a controller, in a for-profit business relies heavily on a knowledge of accounting.

What is finance & why is it important?

Finance is a broad term that describes a variety of activities but they all boil down to the practice of managing money: getting, spending, and everything in between from borrowing to investing. Finance also refers to the tools and instruments people use in relation to money and the systems and institutions through which activities occur.

Why is financial planning important?

Financial planning is critical to any organization, large or small, private or public, for profit or not-for-profit. Financial planning allows a firm to understand the past, present, and future funding needs and distributions required to satisfy all interested parties. For-profit businesses work to maximize the wealth of the owners.