Finance and accounting are closely related but focus on different aspects of money management.
Accounting is about recording, summarizing, and reporting financial transactions. It keeps track of where money is coming from and how it's being spent.
Finance, on the other hand, is about planning and managing money for the future. It focuses on how to invest, grow, and protect money.
Example: Imagine a business. The accounting team records all sales and expenses, creating reports to show profits or losses. The finance team uses this information to decide whether the business should save, invest, or borrow money to grow.
Accounting looks at the past, while finance focuses on the future.
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
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )
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.
U Should understand the Basic Finance & Accounting, Bcz in our life indirectly we are using finance and accounts, if we are not know the basic thing of finance and accounting means how we analyse the thing are right or wrong,
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.
what is the relationships between statistics and accounting
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
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )
I do not believe there is a relationship between chemistry (the science) and 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.
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
Whats the relationship between Finance, people and marketing?
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.
DISTNGUISH between finance, management accountant and financial accounting
Yes, computer applications are used greatly in the field of finance and accounting.
U Should understand the Basic Finance & Accounting, Bcz in our life indirectly we are using finance and accounts, if we are not know the basic thing of finance and accounting means how we analyse the thing are right or wrong,
a lateral relationship is where every one involved is equal, for example the finance manager and the HR manager. A line relationship would exist between the finance director and the finance manager. Hope this helps, I know there are int2 business prelims next week.