Unleashing the power of finance

The finance and accounting processes tend to be mistakenly viewed only as necessary functions of month‐end closing and historical focus. When finance becomes recognized as a value‐adding process ‐ creating and focusing information to facilitate achieving the goals and objectives of the corporation, its impact on the bottom line will be fully realized. The key to revising this view of finance is to change the focus and processes of the finance and accounting functions. The author describes the changes in these functions that can be more supportive of meeting future business challenges.