Finance is a part of the accounts which i strongly feel
Bcos as per the accounts equation assets = libalities +
owners equity. if we look at assets it consists of current
assets, fixed assets and the investment. the investmets is
nothing but the financing of the company that mean finance.
Accounting: Accountantís (sometimes called: Controller)
primary function is to develop and provide data measuring
the performance of the firm, assessing its financial
position, and paying taxes. The accountant is responsible
for preparing financial statements such as the income
statement, balance sheets, and cash flows. It is normally
passive work, in the sense that, the work has a very
independent nature to it such as preparing forms and
financial statements. It is a good job for people who want
to work independently and are very organized (this is only
a very brief description, if you are interested in
accounting, consult your accounting instructor for more
Finance: The financial manager or consultant places primary
emphasis on decision making. It uses the financial
statements prepared by accountants to make decisions about
the firmís financial condition and to advise others about
possible losses and profits. In some cases, finance is more
a type of leadership position. A financial manager has to
deal not only with finance, but also with economics,
accounting, statistics, math, and management. For example,
people working with stocks and bonds have to understand and
analyze how the underlying companies are performing. How a
given company is going to perform during recession? Should
they sell or buy stocks or bonds. How a decrease in the
interest rate in England may affect the projects a company
has in that country. Finance also deals a lot with risk.
Derivative securities (options, futures, swaps, etc) are
used to hedge against possible increase in risk. Risk
managers are in great demand everywhere. Most finance
majors find jobs in banks and other financial institutions,
government, real estate, consultant companies, insurance,
investment companies, stock market exchanges, fundraising,
and any firm that needs someone to make financial decisions.
Accounts have to do with the daily records of financial
activites of an organisation. while Finance is the
maagement of funds ranging from the sourcing for fund to
the usage of fund and also control of cash outflows.
Accounting is identifying,analazing, recording the day to
day transactions and ends with communicating the financial
information to the management.
Where as finance deals with sourcing of funds, effective
utilisation of funds, borrowing, investiments,analazing the
financial data to help the management in financial decision
making.Infact, the output of accounting is the input of
finance.The output of finance is the input of best
financial desicion making.Best financial decision making
always cause for financial soundness of the entity.
The job of finance starts with the end of job of Accounting.
Finance activity is based on analization and application of
the current activity to the business concern.it involves
calculation, quantification and valuing the financial risk
in different situations in different sectors.