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Difference Between Finance and Accounting

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Finance and accounting are two different disciples of business but both play vital roles to keep a business afloat. Finance basically is the study and management of assets. On the hand, accounting deals with recording and reporting of every single financial transaction. These departments require paper trails and physical documents in huge numbers. Having a high volume business printer such as Konica Minolta Bizhub is an utmost necessity to keep up with the workflow.

Key differences:

Definition:

Accounting: Keeping and preparation of transaction/financial records

Finance: Management of assets and liabilities according to the current and future status of the business.

Function:

Accounting: Interpret and present financial statements and records.

Finance: Manage and control cash flow and decision making on financial strategies.

Goal:

Accounting: Monitor accounting operations on a daily basis. Tax preparation and filing.

Finance: Forecast the company’s future performance.

Paper trail and documents:

Accounting: Balance sheets, income ledgers, invoices and cash flow statements etc.

Finance: Performance reports, return of investments, analyses reports etc.

Printing Solutions:

Like many business papers, most financial and accounting documents are time-sensitive and often times comes in multiple pages. They should be printed quickly, accurately and securely. The Konica Minolta Bizhub is an award-winning business printer. Its line of products were developed and dedicated for heavy-printing requirements and flexible workflows. They have IC card authentication and even biometric authentication for secured printing.

Accounting and finance are two different functions that require different skill sets. However, both areas revolve around the company’s management of assets and therefore commonly work hand in hand.

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