Asked by Thembani VUTUZA on Jun 10, 2024
Verified
Accounting and finance have consistent orientations about financial results.
Accounting
Accounting is the systematic practice, work, or process of communicating and recording financial information for a business or individual.
Finance
The management of large amounts of money, especially by governments or large companies, including the processes of investing, borrowing, lending, budgeting, saving, and forecasting.
- Understand the significance of cash flows and accounting results in financial decision-making.
Verified Answer
JE
Jheri ElliottJun 15, 2024
Final Answer :
False
Explanation :
Accounting focuses on the collection and analysis of financial information for reporting purposes, while finance uses this information to make decisions about investments, capital management, and forecasting. Their orientations differ as accounting looks at past and present financial activities, whereas finance is more concerned with the future implications of these activities.
Learning Objectives
- Understand the significance of cash flows and accounting results in financial decision-making.
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