The term Accounting refers to a way the companies and individuals involved in business record and measure their transactions. It is the art of recording, summarizing and reporting financial transactions. It can be a complete record of all the activities and their details with every aspect.
Accounting allows a company to analyze financial performance of the business and to look at statistics such as net profit. Recording transactions includes documenting revenues by invoices or sales receipts, and entering purchases and expenditures.
The term Finance is a branch of economics concerned with resource allocation as well as resource management, acquirement and investment. Simply, finance deals with matters related to money and the markets. It can be defined as the management of money or funds.
Financing is known as a means of getting the resources to purchase an item, then paying back the loan in a set time period for a set monthly or weekly fee. A financial manager is responsible for supervising and handling financial reports, investment portfolios, accounting, and all kinds of financial analysis for an organization. He manages the cash flow for an organization by supervising balance sheets, income statements, and the costs and revenue model.
Accounting and Finance are considered as the two most important sections in any organization. Accounting/Finance departments are not limited to banks only but the companies offers Accounting and Finance Jobs too. All the Business companies and corporations need accountants and financial managers. Book keepers, general accountant, Public accountant, chartered accountant, tax accountants, management accountants, controller, forensic accountant and Accounting auditor jobs are available in all Public and private sector departments also in banks and charities. Financial manager or corporate finance manager, Controller, finance officers, cash managers, insurance managers and branch managers.
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