What is difference between audit and business finance Why there is debt in a profit making company

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Accepted Answer

Audit focuses on examining financial records for accuracy and compliance, while business finance involves managing financial resources to achieve business goals.

Audit involves reviewing financial records and processes to ensure accuracy and compliance with regulations, while business finance involves managing financial resources to achieve business goals.
Audit is more focused on historical financial data and ensuring accuracy, while business finance is more forward-looking and involves making financial decisions to drive business growth.
Examples of audit activities include examining financial statements, conducting internal control reviews, and identifying financial risks, while business finance activities include budgeting, forecasting, and investment decision-making.
Debt in a profit-making company may be used to fund growth opportunities, finance operations, or take advantage of tax benefits. It allows companies to leverage their assets and potentially increase returns for shareholders.