Specific differences between financial management and accounting

The difference between financial management and accounting;

1. The concept is different. Finance is a decision-making system for asset purchase, investment, financing and management under a certain overall goal. Accounting, on the other hand, takes currency as the main unit of measurement, uses specific methods to continuously and systematically check and supervise the completion of economic activities of the unit, and provides information about the financial situation, operating results and cash flow of the unit through the confirmation, measurement, recording and reporting of transactions or events.

2. Different functions. The basic function of accounting is accounting and supervision. The basic functions of finance are forecasting, decision-making, planning and control, with emphasis on the organization, application and management of funds.

3. Accounting is the creator of information and financial management is the user of information.

4. From the perspective of university specialty setting, financial management is either a direction of accounting specialty, or independent of accounting specialty, or independent of financial specialty.

Extended data

Accounting is an applied subject that forms an information system to assist decision-making on the basis of studying the collection, classification, synthesis, analysis and interpretation of financial activities and cost data, so as to effectively manage the economy. It can be said that it is an integral part of social science and an important management discipline. The research object of accounting is the movement of funds.

Financial management is the management of asset purchase (investment), financing (financing), operating cash flow (working capital) and profit distribution under a certain overall goal.

Financial management is an integral part of enterprise management. It is an economic management work to organize enterprise financial activities and handle financial relations according to financial laws and regulations and financial management principles. To put it simply, financial management is an economic management work to organize enterprise financial activities and deal with financial relations.

reference data

Baidu encyclopedia-accounting

Baidu encyclopedia-financial management