Magnetorheological Abrasive Honing (MRAH) is a recently developed process to finish engineering surfaces. The process makes use of a magnetically stiffened abrasive-mixed magnetorheological fluid as the flexible tool and rotation-cum-reciprocation movements between the finishing medium and the work piece surface for providing finishing action. In the present work, a finite element analysis with Mechanical/Emag module of ANSYS is performed to understand the nature of magnetic field developed in the process and verification is done with actual measurements. Considering the simulated magnetic field, a model to predict final roughness value (Ra) is developed. The model, when applied for different work materials and various process parameters, such as magnetic flux density, process duration and work piece rotation, yields results that are in good agreement with experimental results.