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What are the differences between accounting finance and bookkeeping?

Answer:

Accounting is a broad term that refers to accumulating, organizing, analyzing and reporting data on financial events. Accounting is usually focused on the past. There are several different fields within accounting such as public accounting, managerial accounting, tax accounting, etc.

Finance generally looks toward the future and deals with managing current and future cash flows. Investing and treasury management are two common tasks for which the finance function is often responsible.

Bookkeeping is a function within accounting that is charged with recording financial transactions and sometimes organizing the transactions into financial statements. Bookkeepers are typically entry level employees that may have no or little formal education in accounting.

First answer by Redchick77. Last edit by Redchick77. Contributor trust: 5 [recommend contributor ]. Question popularity: 2 [recommend question].

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