can anybody describe about the accounts and financ ? what
is difference between that , thanks in advance gurus
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Answer / amit
there is a very thin line between accounts & finance.
finance relates to procurement & effective utilization of
funds whereas accounts relates to recording of the
transaction & the preparation of the books
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / vspgs
Finance:It is the branch of economics that studies the
management of money and other assets.In simpler terms it
can be defined as the commercial activity of providing
funds and capital.It addresses questions like -- what funds
are required by the org? How they can be raised? How they
have to be allocated etc
Accounts: It is the occupation of maintaining and auditing
records and preparing financial reports for a business.
Accounts provides quantitative information about finances.
It addresses issues like what amount of funds have been
allocated to various activities, how the book-keeping is
being done etc
Both functions are distinct but complimentary to each other.
Finance and accounts are highly specilized and distinct
areas and hence most organizations have seperate sections
of finance and accounts.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / ganesh
THERE IS A VERY THIN DIFFERENCE BETWEEN ACCOUNTS AND
FINANCE.ACCOUNTS RELATES TO RECORDING OF BUSINESS
TRANSACTIONS AND PREPERATION OF BOOKS OF ACCOUNTS WHICH
HELPS IN THE MANAGEMENT OF THE FIRM. FINANCE RELATES TO THE
FUNDS WITH WHICH THE BUSINESS CAN BE SUCCESSFULLY MANAGED
AND ENLARGING THE BUSINESS.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / indrajeet
Finance is the analysis, summarisation, evaluation,
interpretation and management of accounts for the
management purpose.For eg, Risk management, Portfolio
analysis etc are done with the help of accounts maintained.
But account is only posting of various transactions
prevailing in any organization. It helps in decision making.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vspgs
Finance:It is the branch of economics that studies the
management of money and other assets.In simpler terms it
can be defined as the commercial activity of providing
funds and capital.It addresses questions like -- what funds
are required by the org? How they can be raised? How they
have to be allocated etc
Accounts: It is the occupation of maintaining and auditing
records and preparing financial reports for a business.
Accounts provides quantitative information about finances.
It addresses issues like what amount of funds have been
allocated to various activities, how the book-keeping is
being done etc
Both functions are distinct but complimentary to each other.
Finance and accounts are highly specilized and distinct
areas and hence most organizations have seperate sections
of finance and accounts.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / md. rasheed
finance works with the information and accounts deals with
the data. simply we can say the process of preparing the
accounting reports is accounts which deals with the data
that is journals, ledgers, trail balance where as finance
deals with the reports prepared after accounts like income
statements and position statements, cash flow and funds
flow and so on.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / madhuri kola
Accounts involves more clearical participation internally,
it is a record of assets and liabilities, owners capital
etc.
Finalce involves extaranal work, based on accounts only
people can judge the financial status of the indistry or
concern.
| Is This Answer Correct ? | 0 Yes | 0 No |
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