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Accounting and Finance
accounting is the calculation process of financial transaction
similarities between equity n debt finance
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
They both do accounting and they both involve money
the private is here to absorve profit which the public secte is not.
The similarities between auditing and accounting is that both are concerned with keeping records of a business. The other similarity is that both ensure that the correct financial statement of a business are prepared.
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.
Raymond Brockington has written: 'Dictionary of accounting and finance' -- subject(s): Dictionaries, Accounting, Finance 'Financial Accounting (M & E Higher Business Education Series)' 'Accounting for Intangible Assets' -- subject(s): Accounting, Intangible property 'A concise dictionary of accounting and finance' -- subject(s): Dictionaries, Accounting, Finance
cost accounting provides the basic information for both management and financial accounting.The similarities between government accounting and financial accounting is that both involves the balance of accounts.
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.