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in simple terms consider financial position as what is your balance sheet i.e your assets and liabilities
financial performance your profit and loss account i.e all you income derived and expenses incurred in a given time.
the above are not exact definitions, they are just explanations
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What is the difference between What is the difference between financial accounting and management accounting?
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
What is the difference between TTM (trailing twelve months) and YTD (year-to-date) financial performance metrics?
The difference between TTM (trailing twelve months) and YTD (year-to-date) financial performance metrics is that TTM looks at the past 12 months of financial data, while YTD focuses on the financial performance from the beginning of the current year up to the present date.
What is the difference between IPSAS format and other formats of presentation of financial reports?
The IPSAS formats are the required schedules under the International Public Sector Accounting Standards. These include: Statement of Financial Position Statement of Financial Performance Cash Flow Statement Statement of Changes in Equity
What is the difference between financial budget and a financial budget?
There is no difference between them.. Their difference only is how you understood about financial budget.. :)
What is a difference between technical proposal and financial proposal?
what is the difference between technical and financial proposal
Explain relationship between financial and non-financial performance indicators in achieving corporate governance compliance?
relationship between financial and non-financial performance indicators in achieving corporate governance compliance.
What are the difference between cost accounting and financial accounting?
Prime role of cost accounting is to calculate the cost per unit of product produce while financial accounting deals with financial reporting of company's performance.
What is the difference between financial adviser and financial consultant?
There is no difference. For instance, I am technically both
What is the difference between financial intermediaries and non financial intermediaries?
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What is the difference between final account and financial statement?
Financial Statement: Financial statement is a instrument used to present a companies financial position. Financial statement complies with balance sheet, cash flow and funds flow statements. Final accounts is the final stage of preparation of financial statement
What is the difference between the perspective of financial management and accounting?
Financial management focuses on the strategic planning, organizing, directing, and controlling of financial activities, aiming to maximize shareholder value and ensure the efficient use of company resources. In contrast, accounting primarily deals with the systematic recording, reporting, and analysis of financial transactions, providing a historical view of a company's financial performance and position. While financial management is forward-looking and concerned with future financial strategies, accounting is retrospective and emphasizes compliance and accurate financial reporting.
What is the similarity and difference between the cash budget and long term financial planning?
what is the difference and similarity between cash budget and long term financial planning
