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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.
What else can I help you with?
What is the major difference between finance 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
What relationship is there between the accounting equation and the balance sheet?
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )
What is the difference in perspective between finance and accounting?
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.
Why should you understand finance or 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,
What is the difference between finance and financial accounting?
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 relationship between financial accounting and Statistics?
what is the relationships between statistics and accounting
What is the major difference between finance 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
What relationship is there between the accounting equation and the balance sheet?
The relationship between the accounting equation and the balance sheet is the NET PROFIT. ( I THINK :/ )
Importance of chemistry in accounting?
I do not believe there is a relationship between chemistry (the science) and accounting
What is the difference between corporate finance and managerial finance?
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.
What has the author Raymond Brockington written?
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
What is the Relationship between HR and marketing Function of MNE?
Whats the relationship between Finance, people and marketing?
What is the difference in perspective between finance and accounting?
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 cost accountant and financial accountant?
DISTNGUISH between finance, management accountant and financial accounting
Computer application in finance and accounting?
Yes, computer applications are used greatly in the field of finance and accounting.
Why should you understand finance or 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,
What the difference between the lateral relationship and a line relationship?
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.
