Accounting And Finance Case Study

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1.0 Introduction In this 21th century, there are many subjects available for University students to choose when they enter any University in the country. According to the research I had done, the subjects of accounting and finance can consider as the popular subjects that University students will choose. The reason of many students choose to take the subjects of accounting and finance is because they feel there is a big employment opportunities when they graduated from these two subjects. In the following paragraph, I will talk about the definition of accounting and finance, distinguish the differences between the subjects of accounting and finance, and lastly I will discuss which of the discipline I feel is the most sought in every countries …show more content…

But, they are perform in different way and different purpose. Accounting is define as the process of recording, reporting, creating and managing financial transaction of a business. Finance is slightly different with accounting because it has a broader scope compare to accounting, and it is responsible for begin a transactions that will aid in cash, investment and other working capital management of a business. However, many company want to group both of the finance and accounting together because both of them are involved in the administration of a business’s assets. (Differencebetween.info, …show more content…

The tools use in accounting included the reports such as Income statement, balance sheet, capital statement, profit and loss ledgers, positional declarations, cash flow statements and others. (Differencebetween.info, 2014) The most common reports are income statement and balance sheet. Income statement reports the profitability of a company during a specific period of time. The period of time can be any time decided by the company. For instance, most of the company will choose to prepare yearly income statement. In other hand, Balance sheet comprised three important parts which are assets, liabilities, and also stockholders’ equity at a specific period of time. Balance sheet is also known as the statement of financial position. (AccountingCoach.com,

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