Finance vs Accounting
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- เผยแพร่เมื่อ 6 มิ.ย. 2024
- What is the difference between finance and accounting? Are finance and accounting different and separate fields, or are there overlaps? Let me provide my Finance Storyteller perspective on finance versus accounting, I look forward to engaging in further discussion with you in the comment section below!
A very generalized view of the difference between finance and accounting is the following: finance is managing the company’s financial resources, accounting is recording and reporting the (financial) transactions of a company. Finance is viewed as forward looking, planning future transactions. Accounting is viewed as backward looking, recording past transactions. This distinction of finance versus accounting sounds good, but might be an oversimplification versus how things work in the real world.
So let me propose (in this video) a more granular and gradual view of finance and accounting, as a continuum.
Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business and #accounting vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better stock market investment decisions. Philip delivers #financetraining in various formats: TH-cam videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
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Thank you ♥️
thank you for this, would it be possible to do an mba in finance after completing bba in accounting (or vice versa)? would the concepts be completely alien or be reletively easy to cope?
I think it should be doable, if you are willing to work hard for it. And remember, having a good understanding of how to T-account your way out of any difficult situation is priceless!!!
I'm pretty good at mathematics and I can't decide which will be better for me as a career. Finance or Accounting?
I can't decide it for you, but would like to advise you that an education is a means to an end, and that many people at some point in their life will work in a very different sector or industry from where they started out....
Love from Bangladesh 🇧🇩❤
Greetings back from the Netherlands!
Do you make videos on hardcore accounting and finance ?
Of course! About 200 in total. Start here: th-cam.com/video/lBvnSgIGVnU/w-d-xo.html or here th-cam.com/video/PI9X5Ybek_E/w-d-xo.html
@@TheFinanceStoryteller do you also have a video that discusses how accounting could be different for tax and bank/investor purposes ?
@@sirl1364 Yes, two videos that immediately jump to mind are deferred tax assets th-cam.com/video/MvXAljQD4II/w-d-xo.html and deferred tax liabilities th-cam.com/video/wom7IBNnXM8/w-d-xo.html
Hi thank u I like this video know I want to ask you a question what is similarities of account and finance tell me plz teacher immediate
Hello Suzy. My initial thought on your question would be: they both require a structured problem-solving approach, and attention to detail.
@@TheFinanceStoryteller ok how can I get the answer
@@TheFinanceStoryteller the similarities of account and finance
@@lovelysisters9919 Hi Suzy. I find your style of communicating very aggressive, like I owe you something. I think I am doing you a favor by sharing my thoughts in response to your initial question. I hope you appreciate that.
MSc. Accounting Vs Finance: Which Should You Study?
Hello Eva! Either one can be a start of a great career. In my view, the decision depends on a combination of what you are most passionate about and what you are good at.
thank you for the informative information. i have gained so much on watching your youtube channel. Sir can you please help me with this "The merits and pitfalls of having a financial manager perform a dual role as management accountant and financial manager" thank you in advance.
Hello Sbusiso! To me, that revolves all around segregation of duties, having a voice of reason and objectivity, etc.
@@TheFinanceStoryteller thank you sir
great videos, are you geting any ad revenue from your channel, if yes how much ?
Thank you, Rohit! Yes, about $8 per day in ad revenue. Still growing views, subscribers, and ad revenue, interested how far I can take this.
@@TheFinanceStoryteller amazing videos, learnt so much! Wish you success!!
@@10gokhrustali Thank you, Tengiz! Wishing you success in applying what you have learned. :-)
Hello
Hello
@@TheFinanceStoryteller Iam from Bangladesh and iam a bit confused about something. Can u help me?
@@hamzakhanshuvo7872 Feel free to post questions.
@@TheFinanceStoryteller
Actually i dont speak english well😅
recently i have completed my hsc/12th in Bangladesh. And now iam planning to study BBA But the problem is Major. I have plan to Complete my MBA or PG diploma in Canada. So a bit confused which sub should i choose as major for my future carrier, Account or finance. I dont have any idea about Canada job market. I dont know which job are popular and easy to manage.
Thank you 😊
Both accounting and finance have good prospects. If you make a choice for now, it's never too late to learn more and develop additional skills. Make sure there is a good balance between challenges and skills.