Difference between finance function and accounts function

Difference between finance function and accounts function

Finance and accounts functions may be integrated in an organisation. This means that one department handles both. In most of the small and medium size units in India, the functions will be integrated. A business enterprise will require a full-fledged finance department only when the functions listed above are predominant functions impacting business in a big way. If the finance functions are not predominant functions, Accounts department looks after Finance also. Constant requirement of funds, surplus for investment etc, could be some of the factors influencing the need for a full-fledged Finance department.