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can anybody describe about the accounts and financ ? what
is difference between that , thanks in advance gurus
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Answer Posted / 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.
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