Diffrence between accounting and finance
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Accounting focuses on recording and reporting financial transactions and the day-to-day flow of money in and out of a company, as well as preparing financial statements. Finance is a broader term that involves managing assets and liabilities, planning for future growth, analyzing financial statements, and activities like capital budgeting, ratio analysis, and risk analysis to provide insights and grow financial resources over time. While accounting is part of finance, finance encompasses more areas beyond accounting and financial reporting of past transactions.
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Diffrence between accounting and finance
- 1. Accounting vs. Finance Prepared by : Aisha Jamshed
- 2. Accounting Finance Accounting focuses on the day-to- day flow of money in and out of a company Finance is a broader term for the management of assets and liabilities and the planning of future growth. Accounting is about reporting of what has already happened Finance is about looking forward and growing a pot of money Responsible for preparing Financial Statements Responsible for analyzing Financial Statements Its Focus is on Accuracy and Reliability It Focus is on Insights and Analysis Financial Accounting, Management accounting, Cost accounting, Tax Accounting etc. Private Finance, Public Finance, Corporate Finance etc. Accounting is a part of finance. Finance is not a part of accounting. Income Statement, Balance Sheet, Cash flow Statement etc. Risk Analysis, Capital Budgeting, Ratio Analysis, Leverage, Working Capital Management etc.