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Financial Management and Accounting
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What is the Difference Between Financial Management and Accounting?
Very simply, accounting is about recording how money is spent and financial management is about controlling how money is spent. Financial management requires an understanding of accounting records in order to exert better control.
You will learn some basics of accounting records and then you will learn how to analyse these records and make decisions accordingly.
A lot of managers find ‘numbers’ daunting simply because they do not have the accounting background in order to understand how the numbers got there in the first place.
This section will take you through the basics of how accountants actually create the financial reports, which include things like a Balance Sheet, Income Statement, and Cash Flow Statement.
Click here to view and download the glossary of Accounting terms.