Differentiate the following interchangeable accounting terms in the internet/books
a. finance vs accounting
b.Book keeping vs Accounting
c.Financial Accounting vs Financial Reporting
d.Financial Accounting vs Financial Management
e. Financial statements vs financial reports
f.Budgeting vs accounting
Answers
Answer:
finance vs accounting
Explanation:
Finance is the management of money and investments for individuals, corporations, and governments. Finance professionals work in careers such as investment banking, wealth management, and financial planning and analysis (FP&A). Whether these professionals work on behalf of individuals or businesses, they are responsible for ensuring that there is adequate funding (capital) for the needs of the situation and that the funds are allocated as optimally as possible. Their job is to create value by managing capital in a way that earns higher than expected risk-adjusted returns.
accounting
Accounting is the recording, maintaining, and reporting of a company’s financial records. Accounting professionals work for individuals, in-house at corporations, or on behalf of other businesses at a public accounting firm (such as the Big Four). These professionals are responsible for ensuring that all financial transactions are correctly entered into the general ledger, that account balances are correct, and that financial statements are accurate.
Answer:
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