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by Yarnlady is happy every day on April 27th, 2008
Finance is the name given to all the transactions that have to do with the transfer of money for consideration.
Any money transactions can be included.
Accounting is the name given to the records that are kept of the transfer of money. Any financial transaction can be recorded, and the formal record of the transaction is accounting.
Cash flows would be shown by the accounting records, and the decisions made according to the information provided would be up to the business owners.
by puzzled on August 17th, 2009
YarnLady pretty well summed it up.
The cash flows are Finance, the measurement and reporting of those cash flows is accounting.
The decision making which affects the cash flow is Finance but the decisions as to how it will be measured and reported is accounting.
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