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The accounting field has existed longer than the finance field. Accounting relates to preparation of accounting records, preparation, analysing and interpretation of financial statements. On the other hand, the study of finance consists of three interrelated areas (i) money and capital markets which deals with many of the topics covered in macro economics (ii) investments, which focuses on the decisions of individual and financial and other institutions as they choose securities for their investments portfolios, and (iii) managerial finance (business finance) which involves the actual management of the firm. In general the three areas are interrelated. http://cbdd.wsu.edu/kewlcontent/cdoutput/TR505r/page47.htm
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