To provide a measuring device and a multifunctional timepiece which exactly set a measuring indication scale part at a position appropriate for measuring conditions and thus enable accurate measurement of a speed, the number of steps, etc.

The timepiece includes a watch case 1 which includes hands 10 moving above a dial 6 and pointing at the time, a rotary scale plate 5 which is provided rotatably on the upper circumference of the watch case 1 and includes a speed indicating scale part 14 provided on the surface of the plate, a sub-scale part 15 which is provided in a part of an etching plate 7 on the inner circumference of the watch case 1, and setting marks 16 which are provided for setting an installation position of the speed indicating scale part 14 at a prescribed one by fine adjustment by rotating the rotary scale plate 5 so that it may correspond to some unit division of the sub-scale part 15. Accordingly, the speed indicating scale part 14 is correctly and simply set at the position appropriate for the measuring conditions to measure the speed accurately.