# FinanceMath: Knowledge-Intensive Math Reasoning in Finance Domains

arXiv: https://arxiv.org/abs/2311.09797 · HTML: https://mlsanity.com/paper/2311.09797/

## Key facts

- Cited by 40 papers in the map (data through 14 Oct 2026).
- Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning.
- Builds on 13 of its 74 references that are in the map.
- First posted on arXiv 16 Nov 2023.

## Placed in

- LLM reasoning / [Reasoning for agents, planning and code](https://mlsanity.com/lr/reasoning-for-agents-planning-and-code/)

## Builds on (most cited first, 13 of 13)

- [Llama 2: Open Foundation and Fine-Tuned Chat Models](https://mlsanity.com/paper/2307.09288/) (2023)
- [Training Verifiers to Solve Math Word Problems](https://mlsanity.com/paper/2110.14168/) (2021)
- [Efficient Memory Management for Large Language Model Serving with PagedAttention](https://mlsanity.com/paper/2309.06180/) (2023)
- [Program Synthesis with Large Language Models](https://mlsanity.com/paper/2108.07732/) (2021)
- [Qwen Technical Report](https://mlsanity.com/paper/2309.16609/) (2023)
- [Mistral 7B](https://mlsanity.com/paper/2310.06825/) (2023)
- [Solving Quantitative Reasoning Problems with Language Models](https://mlsanity.com/paper/2206.14858/) (2022)
- [WizardLM: Empowering large pre-trained language models to follow complex instructions](https://mlsanity.com/paper/2304.12244/) (2023)
- [WizardCoder: Empowering Code Large Language Models with Evol-Instruct](https://mlsanity.com/paper/2306.08568/) (2023)
- [WizardMath: Empowering Mathematical Reasoning for Large Language Models via Reinforced Evol-Instruct](https://mlsanity.com/paper/2308.09583/) (2023)
- [Check Your Facts and Try Again: Improving Large Language Models with External Knowledge and Automated Feedback](https://mlsanity.com/paper/2302.12813/) (2023)
- [FinGPT: Open-Source Financial Large Language Models](https://mlsanity.com/paper/2306.06031/) (2023)
- [PP-OCR: A Practical Ultra Lightweight OCR System](https://mlsanity.com/paper/2009.09941/) (2020)

## Built on by (most cited first, 30 of 40)

- [MMVU: Measuring Expert-Level Multi-Discipline Video Understanding](https://mlsanity.com/paper/2501.12380/) (2025)
- [AgentRxiv: Towards Collaborative Autonomous Research](https://mlsanity.com/paper/2503.18102/) (2025)
- [Are LLMs Capable of Data-based Statistical and Causal Reasoning? Benchmarking Advanced Quantitative Reasoning with Data](https://mlsanity.com/paper/2402.17644/) (2024)
- [Open-FinLLMs: Open Multimodal Large Language Models for Financial Applications](https://mlsanity.com/paper/2408.11878/) (2024)
- [PRBench: Large-Scale Expert Rubrics for Evaluating High-Stakes Professional Reasoning](https://mlsanity.com/paper/2511.11562/) (2025)
- [FinDVer: Explainable Claim Verification over Long and Hybrid-Content Financial Documents](https://mlsanity.com/paper/2411.05764/) (2024)
- [IFIR: A Comprehensive Benchmark for Evaluating Instruction-Following in Expert-Domain Information Retrieval](https://mlsanity.com/paper/2503.04644/) (2025)
- [Language Models are Symbolic Learners in Arithmetic](https://mlsanity.com/paper/2410.15580/) (2024)
- [SCITAT: A Question Answering Benchmark for Scientific Tables and Text Covering Diverse Reasoning Types](https://mlsanity.com/paper/2412.11757/) (2024)
- [FinTrust: A Comprehensive Benchmark of Trustworthiness Evaluation in Finance Domain](https://mlsanity.com/paper/2510.15232/) (2025)
- [TableMoE: Neuro-Symbolic Routing for Structured Expert Reasoning in Multimodal Table Understanding](https://mlsanity.com/paper/2506.21393/) (2025)
- [FinMMR: Make Financial Numerical Reasoning More Multimodal, Comprehensive, and Challenging](https://mlsanity.com/paper/2508.04625/) (2025)
- [BigFinanceBench: A Workflow-Grounded Benchmark for Financial-Research Agents](https://mlsanity.com/paper/2606.03829/) (2026)
- [EDINET-Bench: Evaluating LLMs on Complex Financial Tasks using Japanese Financial Statements](https://mlsanity.com/paper/2506.08762/) (2025)
- [AECBench: A Hierarchical Benchmark for Knowledge Evaluation of Large Language Models in the AEC Field](https://mlsanity.com/paper/2509.18776/) (2025)
- [ASDA: Automated Skill Distillation and Adaptation for Financial Reasoning](https://mlsanity.com/paper/2603.16112/) (2026)
- [Domain Specific Benchmarks for Evaluating Multimodal Large Language Models](https://mlsanity.com/paper/2506.12958/) (2025)
- [FrontierFinance: A Long-Horizon Computer-Use Benchmark of Real-World Financial Tasks](https://mlsanity.com/paper/2604.05912/) (2026)
- [FinBalance: A Multi-Document Accounting Reconciliation Benchmark](https://mlsanity.com/paper/2606.15949/) (2026)
- [MULTITAT: Benchmarking Multilingual Table-and-Text Question Answering](https://mlsanity.com/paper/2502.17253/) (2025)
- [SUCEA: Reasoning-Intensive Retrieval for Adversarial Fact-checking through Claim Decomposition and Editing](https://mlsanity.com/paper/2506.04583/) (2025)
- [The CLEF-2026 FinMMEval Lab: Multilingual and Multimodal Evaluation of Financial AI Systems](https://mlsanity.com/paper/2602.10886/) (2026)
- [AuditAgent: Expert-Guided Multi-Agent Reasoning for Cross-Document Fraudulent Evidence Discovery](https://mlsanity.com/paper/2510.00156/) (2025)
- [Correct Prediction, Wrong Steps? Consensus Reasoning Knowledge Graph for Robust Chain-of-Thought Synthesis](https://mlsanity.com/paper/2604.14121/) (2026)
- [Learning to Solve Domain-Specific Calculation Problems with Knowledge-Intensive Programs Generator](https://mlsanity.com/paper/2412.09280/) (2024)
- [Benchmarking Table Comprehension In The Wild](https://mlsanity.com/paper/2412.09884/) (2024)
- [Towards Competent AI for Fundamental Analysis in Finance: A Benchmark Dataset and Evaluation](https://mlsanity.com/paper/2506.07315/) (2025)
- [BizFinBench.v2: Towards Reliable LLMs in Finance via Real-User Data and Offline/Online Bilingual Evaluation](https://mlsanity.com/paper/2601.06401/) (2026)
- [Formula-One Prompting: A Composable Equation-First Prefix for Applied Mathematics](https://mlsanity.com/paper/2601.19302/) (2026)
- [UniFinEval: Towards Unified Evaluation of Financial Multimodal Models across Text, Images and Videos](https://mlsanity.com/paper/2601.22162/) (2026)

## Abstract (arXiv)

We introduce FinanceMath, a novel benchmark designed to evaluate LLMs' capabilities in solving knowledge-intensive math reasoning problems. Compared to prior works, this study features three core advancements. First, FinanceMath includes 1,200 problems with a hybrid of textual and tabular content. These problems require college-level knowledge in the finance domain for effective resolution. Second, we provide expert-annotated, detailed solution references in Python program format, ensuring a high-quality benchmark for LLM assessment. We also construct a finance-domain knowledge bank and investigate various knowledge integration strategies. Finally, we evaluate a wide spectrum of 44 LLMs with both Chain-of-Thought and Program-of-Thought prompting methods. Our experimental results reveal that the current best-performing system (i.e., GPT-4o) achieves only 60.9% accuracy using CoT prompting, leaving substantial room for improvement. Moreover, while augmenting LLMs with external knowledge can improve model performance (e.g., from 47.5% to 54.5% for Gemini-1.5-Pro), their accuracy remains significantly lower than the estimated human expert performance of 92%. We believe that FinanceMath can advance future research in the area of domain-specific knowledge retrieval and integration, particularly within the context of solving reasoning-intensive tasks.