Tell me the difference between Accounting and Finance

Question

Accepted Answer

Accounting focuses on recording and reporting financial transactions, while Finance deals with managing assets and liabilities.

Accounting involves recording, classifying, and summarizing financial transactions.
Finance focuses on managing assets, liabilities, and investments to achieve financial goals.
Accounting provides historical financial information, while Finance uses this information to make future financial decisions.
Accounting is more about compliance and accuracy, while Finance is about analysis and decision-making.
Examples: Accounting prepares financial statements like balance sheet and income statement, while Finance analyzes financial data to make investment decisions.

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