Accounts have to do with the daily records of financial activities of an organization. Accounts are managerial level it includes recording classifing summerising the results to the stake holders of the company.
Finance deals with the admisterial level it includes various decisions like procurement of funds invest them in proper manner and distributing of funds to interested parties.
Thus when compare the scope the scope of finance is greate than accounts.
Accounts is the parts of finance whereas finance means the analysis of cost and fund for future requirements.
Over the years of teaching Finance, entering students would often ask "What is the difference between Finance and Accounting?" Oftentimes they were worried that they didn't do well in accounting and so would not fare well in finance. So I would talk about how finance differed from accounting and economics and some of the other courses they had already encountered. Mostly what I tried to do was to let them know that Finance was mostly about common sense principles.
1. Finance does indeed rely on accounting statements and records. Managerial finance professionals and investors make great use of accounting statements.
2. There are a number of different types of finance, including Personal Finance, government finance, and Business Finance.
3. Business finance can include managerial finance, investor finance and small business finance. All these entities, however, have two common finance functions – the Financing Function and the Investing Function.
4. The Financing Function
Where to get funds - Companies can borrow money or obtain from owners.
When to get funds - this involves timing. Should a company obtain all its financing requirements for the next 5 years or just to cover its immediate needs? Much of the answer may depend on the prediction of interest rate changes.
How much to pay for funds? This is a critical question. Some of this involves the timing question, some involves other factors.
5. Investing - What to do with funds once raised. Companies have to figure out what to do with the money they have raised. Do they invest in capital assets, start another product line, give raises, pay dividends, etc?
Businesses have to answer these questions, but so do governments and households. So at the risk of oversimplification, the functions of finance are the financing and investing functions. Accounting supplies the records and accounting information to assist in these functions.
The major difference between finance and accounting is that, accounting is general, deals with all economic facts that occur throughout the financial year, financial is specific deals only with finances
Accounting is creating and managing financial statements which record transactions for businesses. Finance is initiating transactions to aid in cash, investment and other working capital management.
what is the difference between manual accounting and tally accounting?
Accounting and Finance
accounting is the calculation process of financial transaction
The major difference between finance and accounting is that, accounting is general, deals with all economic facts that occur throughout the financial year, financial is specific deals only with finances
DISTNGUISH between finance, management accountant and financial accounting
Corp. finance has to stick to strict accounting procedures and is used by people outside the company (such as the SEC) as well as inside the company. Managerial Finance is for managers and insiders of the company to use, and does not have standard accounting practices.
Accounting is creating and managing financial statements which record transactions for businesses. Finance is initiating transactions to aid in cash, investment and other working capital management.
The difference between accounting and auditing?"
what is the difference between manual accounting and tally accounting?
the difference between accounting nations and accounting commerce
Accounting and Finance
accounting is the calculation process of financial transaction
Finance means funds usually in the form of money. Giving or taking finance, Financing a project etc.,. Whereas Financial Accounting means maintaining a proper record of the money or finance or resources used and maintaining it in a proper order to be presented to the auditor for yearly evaluation.
commerce relates to the trade activities, exchange of commodities etc while finance deals with budgeting, accounting,bookkeeping etc finance is a subject in commerce. commerce is business,marketing,accounting,controlling these activities while finance is focussed function related to inflows n outflows
What is the difference between An Accountant and a Finance officer?