Accounting and Finance are part of the broad subject of economics, accounting itself is a part of finance, since the practice of accounting is going on since the century, only the methods have been kept changing. It refers to all financial transactions to be recorded in a manner which is a scientist and enables any reader to know about the company and its financial health with the help of records made through accounting. As previously mentioned, the finance is huge and involves the study of capital markets and wealth, management of wealth and management of the firm.
Finance
It is a study of various methods and methods in which different
organizations raise funds and then use them for profit keeping in mind all those risk factors in all the money matters, especially for the management of scientific principles and techniques. Use is included. The organization's investment and management of risk factors also fall under the purview of finance. Today, finance has become a special topic and has entered into many categories such as personal finance, corporate finance and public finance. Study of capital market is an essential part of finance. I am a part of all investment finance. There is then managerial finance, which is necessary to analyze the past performance and use it to predict future performance.
Accounting
Accounting is an integral part of finance, it would be right to call a subset of finance. Accounting is in fact a precise way to record, analyze and disclose all financial transactions of a business. The part of the end product or disclosure in the account reflects products such as P & L accounts, balance sheets, financial statements and announcement of financial position of the company, which specify the available funds with the company and, finally, with the use of funds. All data presented through accounting helps analyze the company's past and future performance.
Talking about equality, accounting uses all the principles of finance to be part of finance. Accounting is a tool that provides information about important information for financing any company. All figures required for making financial decisions are end product of accounting. In this sense, finance and account related to proximity, but similarities end here because there are so many differences between the two.
Accounting is basically bookkeeping, which means recording all the transactions and giving meaningful statements and helping in managerial finance. Is much bigger than the finance accounting and it oversees all the financial operations in any business, including income and expenditure. Keeping in view the risk factors, it also looks at the investment
The basic difference between the two is that the finance starts where the account ends. Uses the final product of accounting for financial decision making, accounting facts and data collections, whereas finance is based on the entrepreneurial capabilities, where the finance palace has to take risks based on the financial health of the company.
In conclusion, it can be said that both accounting and finance are important parts of economics, which have no steps with finance, which can not move without accounting. Financing uses final products of finance accounting because they form the basis of all decisions taken in finance. In this sense, finance is heavily dependent on accounting because it uses the data generated through accounting to generate analysis of past and future predictions. Although accounting and finance are both necessary, and no business can do any of the two.