what is the difference between accounts and finance ?
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Answer / surendra
Accounts Deals with day to day activities of an organization
where as Finance deals with procurement of funds and
utilization of such funds in a fruitful manner.
| Is This Answer Correct ? | 17 Yes | 0 No |
Answer / mohammed
ACCOUNT is the detailed record of a particular asset,
liability, owners' equity, revenue or expense.
FINANCIAL ACCOUNTING is the area of accounting concerned
with reporting financial information to interested external
parties
| Is This Answer Correct ? | 15 Yes | 0 No |
Answer / r.s.senthilkumar
account is deal with all day to day business activites like
business in inter level.
but finance also deal with inter and external level and
account is one of the part of finance. accounts propertly
maintenan it will taken perfect financial report.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / r.mukesh
accounts is deals with money.
finance is deals with capital.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / pratyush-anand
Account refers to statements in which we records day to day transaction relating to the business.it has two sides one is debit and other side is credit.but in the other hand finance refers to management of money and valuables in the business. finance are two types
1. public Finance
2. private finance.
Accounts deals only inside of an organisation where as finance deals both inside and outside of an organisation.
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Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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