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Accounting focuses on recording, classifying, summarizing and reporting of day-to-day financial transactions of business where as finance is the management of funds of a business.
Accounting is the process of creating and managing financial statements which record the day to day transactions of the business.Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, ...
Accounting focused on day-to-day flow of money whereas finance is managment of asset and liabilities.
Accounting is the art of recording, classifying and summarizing of financial transactions while Finance includes fund, management of cash, investment and capital which evolve on company's statement of financial position or resources.
Please see my article on LinkedIn.
With work experience, we should be simpler in answering practical questions rather than theorizing, as theories have their scholars and we are the operational managers who make things happen.
This is not to minimize anyone's role or importance, but to have things move on, we need to learn how to screw and unscrew the bolt, demonstrating rather than theorizing.
Please share your experience after reading about mine.
Accounting is the identification and measurement of the economic activity and heritage of an economic entity. This census is done chronologically by registration in the said documents "Accounting"
In terms of finance, finance is the science of managing finances fonds.Les include saving money and often includes lending money. The finance field treats the concepts of time, money and risk and how they are interrelated........
Accounting is analysiing the amount of money in a project while finance is like investing money.
