The Relation between the Business Accounting and Finance
Accounting is one of the oldest professions in the world. Ever since man realized the importance of trading and doing business, accounting has been there in one form or the other. In the present times with the advancement in technology as well as sciences the world of business accounting and finance has also changed and taken a new face altogether. The businesses that we see around us are completely different than what we saw even some decades back. Also the main motive behind doing a business and carrying out various operations associated with it have changed. Now the major focus of the businesses is to earn as much profit as possible. Although many corporate houses as well as small businesses do commit a part of their earnings to various social works. Yet the businesses are not what they used to be some years back now.
In the present times finances play a major role in the financial standing of a company in the market. Accounting is the set of operations that are done in order to keep a check on the finances and make sure that they are always in the good state. All the investors as well as banks and other lending institutions invest their money in companies that have a good financial standing. Even various deals between businesses depend a lot on the financial status. Business accounting and finance would always go hand in hand. It is an essential fact.
To get a correct picture of the relation between the business accounting and finance we can take the example of many of the big corporates that were not taking their business accounting seriously or were involved in unhealthy business practices. As a result they are now facing bankruptcy as well as legal prosecution. People handling the business accounting and finance need to make sure that they are doing their jobs efficiently as well as within the ethics.