Asked by Thembani VUTUZA on Jun 10, 2024

verifed

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.
verifed

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.