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Accounting / Finance

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Accounting/Finance

Accounting is the process of gathering financial information and financial reports concerning cash flows and financial position of a business.

When a company is willing to invest or manage a specific business, this company looks into those reports to take final decision.

Accounts records is where these reports are accumulated and recorded as customer invoices, supplier invoice or in a more specialized transaction named  Journal entries.

The accounts records is compiled into financial statements which contains income statement, balance sheets, statement of cash flows, statement of retained earnings and disclosures that accompany the financial statements.

To become an accountant, it is necessary a bachelor’s degree which takes about four years to be acquired.

Finance

Finance is the department which manage the company’s money. It is responsible for investments, savings, lending, borrowing, forecasting and budgeting.

Finance has three main types: personal, corporate and public/government.

To get a financial degree can take from 4 to 6 years, 4 years to acquire a Bachelor’s degree and one to two years to complete a Master’s degree.