The finance function involves acquiring and utilizing funds for a business. It is classified into long-term and short-term financial decisions. Long-term decisions include financing, investment, and dividend policy decisions. Financing decisions deal with acquiring and deploying funds. Investment decisions relate to selecting fixed and current assets. Dividend policy decisions determine how much profit to distribute versus retain. Short-term decisions include liquidity management to ensure sufficient current assets and avoid illiquidity. The finance function aims to provide funds favorably, manage all cash-related activities, and effectively procure and utilize funds for the business.