Finance and account dono ek saath ho sakta h kya
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Student Expert
18th Aug, 2019
Finance and Accounting are two separate disciples that often are lumped together (as we obviously have done). At a high level, Finance is the science of planning the distribution of a business assets. Accounting is the art of the recording and reporting financial transactions. People tend to group Finance and Accounting because both functions deal with the administration of a business assets.
Those who work in the financial department of a business are concerned with planning the distribution of the business assets. Those who work in the Accounting function of a business are concerned with tracking and reporting the financial transactions of a business. Finance revolves around planning future financial transactions while Accounting revolves around reporting past financial transactions. While these are two separate functions that require different skill sets, they do both revolve around the management of assets; therefore, they are grouped together more often than not.
Those who work in the financial department of a business are concerned with planning the distribution of the business assets. Those who work in the Accounting function of a business are concerned with tracking and reporting the financial transactions of a business. Finance revolves around planning future financial transactions while Accounting revolves around reporting past financial transactions. While these are two separate functions that require different skill sets, they do both revolve around the management of assets; therefore, they are grouped together more often than not.
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