Is there a possibility to program a kind of "state machine" via functions?

Is there a possibility to program a kind of "state machine" via functions?

Like variables also functions are handled internally as tables. A function thus has a name and a value. This value can be changed during runtime and hence decide which function will be called next.

Example code:

if myfunc then

  myfunc()

else

  -- defining all subfunctions

  function my_state_init_done()

    ..

    myfunc = my_state_1

  end

  function my_state_1()

    ..

    myfunc = my_state_2

  end

  function my_state_2()

    ..

    myfunc = my_state_init_done

  end

  myfunc = my_state_init_done

end