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What is exact difference b/w Accounts and finance
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Answer / charu
Finance means the study of different ways in which
individuals, businesses and organisations raise and
allocate monetary resources and use the same for business
purposes keeping the risks involved in mind.
The activity of finance is the application of a set of
techniques that individuals and organisations use to manage
their financial affairs, particularly the differences
between income and expenditure and the risks of their
investments. There are different categories in which
finance could be distributed, like personal finance, public
finance and corporate finance.
Accounting on the other hand is the measurement, disclosure
or provision of assurance about financial information that
helps managers, investors, tax authorities and other
decision makers make resource allocation decisions.
Financial accounting is one branch of accounting and
historically has involved processes by which financial
information about a business is recorded, classified,
summarized, interpreted, and communicated. There are
different categories in which accounting can be
distributed, like cost accounting, financial accounting,
internal and external accounting, etc.
| Is This Answer Correct ? | 15 Yes | 0 No |
Answer / pawan kumar
ACCOUNTS IS TO RECORD ALL THE BUSINESS TRANSACTIONS WHICH
HAS ANY MONEY MOTIVE.
WHEREAS FINANCING IS MOBALISATION OF FUNDS TO RUN YOUR
BUSINESS PROPERELY
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / muthukumar
Accounting:
The primary function is to develope and provide data
measuring the performance of the firm, assuring it's
financial position,and paying taxs. the accountant
responsible for preparing financial statement such as
income statment and balance sheet and cash flow. it's
normally passive work.
Finance:
The decision making process. it uses the financila
statement prepared by accountant to make decision about the
firm financial condition and to advise other about possible
losses and profit. in same cases finance is more type of
leadership position. A finance manager to deal not only in
the finance but also economic, accounting, statistic, math
and management.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / suhasini modagi
Fin means is a cycle of raising funds, utililization of
funds and payments for the loan utilize i.e Interest to the
bank and divident to the shareholders
Accounts are nothing but in simple term it is maintaining
the day to day transactions took place in the cycle of the
fin mentioned above.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / jagadish
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 ? | 0 Yes | 1 No |
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