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Differentiate between finance and accounting.
The major differences between finance and accounting are as follows −
Finance
It is the science of planning the distribution of assets within the company.
Its main objective is to study capital market and funds of business for making future strategies.
The tools for accounting are risk analysis, capital budgeting, ratio analysis, etc.
The branches of finance are private finance, public finance, corporate finance.
Finance is not a part of accounting.
Career for finance are investment banking, corporate finance, equity research, private equity, risk management, quantitative analysis, project finance, technical analysis.
In finance, success mainly depends on technical skills.
Work pressure is an intrinsic part of finance.
Accounting
It is an art of summarising reporting and recording the finance related transactions.
Its main objective is to provide information regarding the solvency status of the company to the financial statement.
The tools of accounting are income statement, cash flow statement, balance sheet etc.
The branches of accounting are financial accounting, management accounting, cost accounting etc.
Accounting is a part of finance.
The career options for accounting are forensic accounting, public accounting, financial accounting, auditing, government accounting etc.
There is work life balance when it comes to accounting.
It has very narrow domain.
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