[Haskell-beginners] What is the functional way of implementing a function that takes a long time to execute?

Hi Folks, Suppose a function takes a long time to do its work. Perhaps it takes minutes or even hours to complete. While it is crunching along, it would be nice to have some insight into its status such as (1) how close is it to completing? (2) what part of the task is it currently working on? It might even be nice to be notified when it is finished. What is the functional way of implementing the function? /Roger