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what is the basic difference between accounting and
financing?
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Answer / babulu180605
Accounting relates to booking of the historical
transactions of an organisation and it leads to preparation
of Financial Status of the company stating what assets and
what liabilities are held by the entity as on the day when
relevant period (say a year) ends, i.e Balance Sheet. The
profitability is also worked out for that period.
The transactions are entered on routine basis during any
year and thus there is a need to arrange for the Finance
for concluding those transactions. Financial status is
concluded from the Balance sheet, Profit & Loss A/c. Since
business has to rely upon outside financial resources,
these outside agencies depend upon the B/S and P&L of the
organization to draw their conclusions for deciding whether
it is viable to lend or not. The person engaged by the
organization for liaison with the lenders is supposed to
have complete knowledge about B/S and P&L and helps in
making it draw favorable conclusions regarding financial
status of the organization before outsiders. Thus, this way
he arranges finance and thus known as a person looking
after finance of the company. Cost saving is another
function which is looked after by this person. Small saving
in per unit cost of the Raw material may lead to saving of
millions.
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / jagdish sherla
Accounting means to maintain accounts only and finance
means to create funds for run the business.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ketan deepak
Accounting: Accounting means who recorded transaction which
going on business it helps to know the profit or loss of
the company.
Financing: Financing means who moblises the income for
running the business.Because finance is required for every
business
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / fahd karali
Finance is concerned with the cash flows where Accounting is
concerned with the accounting profit
for example.. At the end of the fiscal year accountants come
with Net Income in the Income Statement which has elements
such as depreciation expenses, Dep. Exp is not a cash flow
yet it's deducted from the net income.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / sonali
Basic difference:
If finance is a Tree, account is one branch of the tree.
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / aileen.lee
Explain why profit maximization fails as a goal for the
financial manager.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / santosh
BASICALY ACCOUNTING SHOWS THAT WHAT YOU ARE DONE IN THE
PAST & FINANCING SHOWING YOU WHAT WILL DO IN THE FUTURE IN
THE ACCOUNTING YOU HAVE RECORD YOUR TRANSACTION & IN THE
FINANCING YOU HAVE DECIDE IN WHICH DIRECTION YOU SHOULD GO
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sruthi
Accounting deals with the recording,summarising and
analysing of various busines transactions . its main aim is
profits.
financing is the main goal is profit maximisation&wealth
maximisation.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sumansharma
accounting means to maintain all account transaction records, and finance
means to create funds for running business. for example if finance is a
tree, account is one branch of tree.
| Is This Answer Correct ? | 0 Yes | 0 No |
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