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Accounting
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Finance
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1.Accounting is the process or way of the preparation of accounting
records.
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1. Finance is the process of selection, collection, management,
proper utilization of fund.
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2.Main purpose is to collect and present financial information.
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2.Main purpose is managing and controlling cash flow.
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3.It’s goal is to see how the company is performing to monitor day to
day accounting operation.
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3.It’s goal is to forecast the future performance of the business.
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4.Tools are: balance sheet, ledger, cash flow statements
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4.Tools are: performance reports, ratio analysis, risk analysis
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5.Revenue is acknowledged at the point of sale and expenses are
acknowledged when they incurred.
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5.Revenue is acknowledged as the receipt of cash as cash inflow and
expenses are acknowledged when payment is made as cash outflow
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Tuesday, September 20, 2016
Accounting VS Finance
