Managers cannot make good decisions without the availability of adequate and timely financial information. Although accounting and information systems specialists provide this information, all managers need to understand which data are needed and the problems specialists face in gathering those data from around the world. The accounting and finance functions are very closely related. Each relies on the other in fulfilling its own responsibilities. The financial manager of any company, whether domestic or international, is responsible for procuring and managing the company's financial resources. That manager relies on the accountant to provide the information necessary to manage financial resources.

The actual and potential flow of assets across national boundaries complicates the finance and accounting functions. The multinational corporation (MNC) must learn to cope with differing inflation rates, exchange rate changes, currency controls, expropriation risks, customs duties, levels of sophistication and local requirements.

A company's accounting or controllership function is responsible for collecting and analysing data for internal and external users. Foreign managers and subsidiaries are usually evaluated based on data provided by the controller's office. Reports must be generated for internal consideration, local governmental needs, creditors, employees, shareholders and prospective investors. The controller must be concerned about the impact of many different currencies and inflation rates on the statements as well as being familiar with different countries' accounting systems.