The Difference between Accounting and Finance

[@MF-bi8ke]

Accounting is about recording financial transactions, finance is about managing money and financial flows on the basis of accounting data

[@mubasharali5481]

Moulay El Mehdi Falloul perfect

[@donelion6459]

@Teringventje no we don't .

[@rahulsingh8230]

@@mubasharali5481 oaa

[@makiyashoukat8807]

amazing bro.

[@JohnKim-vr3xc]

Hi may be one day you will run for office good luck 😅

[@christianrockr08]

Who knew Hawkeye was a business professional/cpa in his spare time? Kidding, thanks for the video! It was really helpful, I wish that I'd had one of my accounting professors explain things this easily and clearly before!

[@WolvesAndFinance]

Ha! People have used that comparison before... I am glad you found the video helpful. Keep watching!

[@georgerogen3884]

Accounting is backward looking. Finance is forward looking. Thats it.

[@kevinbarajas8798]

George Rogen losdarajs

[@jimwin2011]

Isn't management accounting "forward looking"?

[@ericakelly123]

Thank you! Took forever!

[@abdiyare742]

+TWS - Huey Whar r u on to?

[@abdiyare742]

+TWS - Huey 😂😂Oh i was thinking totally different. Obviously plan the future.

[@Mackandal1758]

I have been looking for many videos to explain me the difference so I can share it with my daughter who is planning to go to Business and don't know if she should take Accounting or Finance. You nailed it and explain it in such a simple way that a 2 year old can understand the difference. Thank you for sharing your knowledge with us!!!

[@WolvesAndFinance]

Thank you for watching!

[@rushdHBTS]

In some countries and organizations both Finance and Accounting tied in the same department. 1) General Accounting 2) Financial Accounting The General Accounting deals with mostly Static matters like inventory, Property and Equipments etc. The Financial Accounting is subject of Dynamic things like Cash Flow , Stocks, Foreign Currency etc . Risk in General Accounting are like Theft , Fire , Damage due natural Calamity etc . Risk in Financial Accounting like Liquidity Crisis, Credit crunch, Fluctuations of Stock price and also Currency fluctuations and Devaluation.

[@WolvesAndFinance]

This is a good breakdown. Thank you for watching!

[@fet1612]

01:44 Accounting is HISTORICAL. Finance is FUTURISTIC. Brilliant, Zach. I like all your videos. But this one. Immaculate. What a perspective of differentiating between the two. God bless you!

[@WolvesAndFinance]

Thanks for watching!

[@jiujitsuconcepts]

very well stated explanation. I enjoyed how you explained the difference relative to time perspective (past vs future) and risk definitions.

[@WolvesAndFinance]

Thank you! It's good to hear people enjoy it

[@yehiaabed3315]

thanks a lot, i totally understand that you were talking slowly, because you did not want to miss out any detail.

[@orangzebmalik7548]

Great video.. Today I know what's the main difference between accounting and finance. You nailed it.

[@WolvesAndFinance]

Thank you! I'm glad you found it helpful!!

[@davidrobertson1756]

Good intel for small and growing businesses. The differences between Accountant, Bookkeeper, CFO, Controller and CPA roles and when to enlist each in your business. Article (The A-B-Cs of accounting and finance): www.ingeniosolutions.com/jeans-tips/abc/

[@utubejunkie21]

Zach! We had a class together at UNM. Glad to see you are doing so well. Congratulations on the CPA and the book. Kate

[@WolvesAndFinance]

Thank you! Glad you saw my video!

[@vincesolstice1342]

+WolvesAndFinance reuniting 😍

[@Lazymath007_]

You guys should totally get married.

[@Zuli55]

Watch on 1.25 speed

[@gaming2top759]

Finishing before the summer my finance degree... I wish I found this channel when I started. It took me a while listening to teachers to get to proper difference between accounting and finance....

[@WolvesAndFinance]

Thanks for watching!

[@johnbenjamin9937]

Gaming2TOP then look at MBA in Accountancy or MS CPA exam jb

[@loucaviotto4193]

speed it up to 1.25! its now a perfect video lol

[@derekhirose5540]

John Reese hahaha thank you so much!

[@abz4852]

lol he is still talking pretty slow but the videos great

[@dezzylush3331]

Thanks!!!

[@htdiah9587]

Most people dont process information quickly, some are also dealing with english.

[@user-mc8cj3ls6m]

i use 2x speed,

[@larahporter8123]

Hey Zack I still go back to your videos!! This is a great explanation!!!

[@markatingi8645]

Accounting historical looking while Finance is Future looking. thanks for the tip

[@warriorlink8612]

Understanding both is a recipe for success

[@FaheemProductions]

Thank you very much for all the help and information about Finance. I will be taking Major in Finance in both BBA and MBA. What type of job would I need to take in the field of Finance? 😊

[@hannanguyen7123]

Thank you, Zach. I really appreciate your careful explanation . The pace and structure of your presentation helps me understand the overall characteristic and responsibility of each role, which I have struggled for a while to grasp as a non-business major.

[@WolvesAndFinance]

Thank you for watching!

[@mariagallegos99]

This made the differences so much clearer, thank you!

[@anatitan5546]

Hi Wolves of Finance , I deeply admire what Wolves & Finance are. Your low viewers ship maybe because of the field of accounting is a special talent that is underappreciated. A.I. needs certified experts to run the finance technologies. Many young American do not understand how these protocols work. Maybe,you can introduce & explain the rancor & political science of this field. By the way,your wonderfully entertaining. If you see the titles of City of Reno Council Meetings. We are dead smack in the middle with a battle in court with California. It is an old court bankruptcy battle between NV.& Calif. Landmark cases affect other cases around the country. We need to know. Transmission sent from Mount Rose, Lake Tahoe-RenoNV. 10.11am 4.5.22

[@maureenoconnell8181]

Very well explained the two concepts. Good Finance decisions can be taken only based on the data provided by the accounts team. Therefore, the accounts team must be as reliable as the finance team.

[@WolvesAndFinance]

Thank you Maureen! By the way, I really liked your article "Re-envisioning the CFO as a Chief Future Officer." maureeneoconnell.com/re-envisioning-the-cfo-as-a-chief-future-officer/

[@maureenoconnell8181]

WolvesAndFinance Thanks for the appreciation.

[@fallyhag]

Many thanks for taking the time to create and share this informative video. I came away a little wiser and realised you were right; not many people do know the difference.

[@andraiancu3017]

Great video ! Thoroughly enjoyed it !

[@WolvesAndFinance]

Thank you!

[@ladykeiaj]

Great video! Thank you ✨🎉

[@abdiwelimohamed1632]

This is amazing video ...even google can't answer this question!!!!! ..brilliant man

[@WolvesAndFinance]

Thank you!

[@dankierson]

Here in EU many colleges have courses called "Accounting & Finance". Sure, strictly speaking, accounting is about the past and finance about the future based on the past revenue. But in actuality *most* projections and plans are prepared and presented by accountants when applying for a loan or making a proposal to another organization. Those finance decisions not involving an existing enterprise nor referencing specific past revenues, e.g. the financing of oil/gas exploration projects, will not be in the hands of working accountants as projections here are based on general industry data. Such financing is more about risk/reward analysis and management. But even here you still have ex-accountants doing such work.

[@abduljaleel7357]

Very useful video

[@md.mehedhiislamneloy9002]

Best Explanation Ever! Thanks

[@paulimboden5589]

True for financial accounting only. Ever heard of managerial accounting?

[@hammerhead19able]

I would like, want to be a Finance person. Love it.

[@WolvesAndFinance]

Thank you for watching!

[@donelion6459]

Go for it , your outlook will be different . Good luck .

[@Ryan-xb1ry]

Great video! thank you for speaking so clearly and patiently. Good for non-native English speaker like me!

[@catherinematthew3364]

You are amazing!!!!

[@keatongroom]

Excellent explanation! Industry and students need to understand the distinction. Up till now I’ve been wondering where I will add value. Question: can an accountant do a financiers job, but not the other way around?

[@shyamasen]

very much informative. as a fresher pick some short of knowledge, it's really important to distinguished between these two.

[@WolvesAndFinance]

Thank you for watching!

[@nkaujhnub86]

You talk so clear!! Thank you so much!!

[@WolvesAndFinance]

you are welcome! thanks for watching!

[@crisarouca6932]

Wonderful video ! Thank you

[@KewhoMin]

Great video. You seem to have simplified the two sectors quite well.

[@WolvesAndFinance]

Thank you for watching!

[@DrLakeciaReddrick]

Great video!!! Thanks for uploading it. I was looking for information like this to make my decision for my doctoral program concentration.

[@WolvesAndFinance]

Thank you. Good luck on your doctoral work!

[@markatingi8645]

bookkeeping helps with making better decisions.

[@sirprozzychannel9157]

I like your style of videos man. Keep it up ✊✊✊

[@neilhamirkeshvala]

In that case it might be beneficial for future CEOs who declared Accounting as their major to double major in Accounting and Finance to meet the 150-credit requirement for the CPA exam rather than earning a Master's in Accountancy?

[@WolvesAndFinance]

I would encourage you to check the CPA requirements for your state. Most states will not accept credit from Finance classes to count towards the CPA exam. There are also some states with stricter requirements than others. I have heard difficult stories of people moving to a new state, but their credits don't meet the other state's CPA requirement. However, your question was specifically on future CEOs. If you study CEO's they come from a wide array of backgrounds, and many actually from sales and marketing. If CEO is your career goal, you have a wide range of degree options to choose from, but you should consider selecting based on your personal strengths.

[@johnbenjamin9937]

Neil Keshvala. thats why I got a MBA in Corporate Finance and MBA Accountancy unheard of but did it cause complex world we live in...jb

[@sakshikothari7689]

Very beautifully explained. Thank you sir :-)

[@vidanost1710]

Thank you. Why do you look broke And unhappy? Are you broke and unhappy? Be happy. Life is too short to be sad.

[@pashereef2713]

Beautiful explanation Thank you 😊 so much

[@orlandolazardi9818]

Thanks for the video, i am a finance/accounting double major. Initially planning on being just finance but everyone tells me the CPA makes the difference between being a cfo vs just having a finance degree. I would like to know what do you think about this... is the CPA necessary. Thanks

[@WolvesAndFinance]

If your goal is to become a CFO, you need to get a CPA certification. That usually requires a Masters of Accounting. I have both an MBA in Finance and a Masters of Accounting, which I have found helpful as a CFO. But most people will tell you that you do not need that many degrees. It just depends on your goals. Thank you for watching!

[@yasser.eltayeb]

Good video. Thanks. 😊

[@WolvesAndFinance]

Thank you!

[@cristiecang5521]

Thank you for the video. Great lessons.

[@WolvesAndFinance]

Thank you for watching!

[@millionsformillennials4834]

Thank you for the distinction in this video. You should keep these up

[@WolvesAndFinance]

Thank you for watching!

[@mahmoudel-emam1883]

very good video to explain this issue

[@WolvesAndFinance]

Thank you for watching!

[@fordmustanggen5]

I'm stuck deciding on whether I should major in finance or accounting..

[@WolvesAndFinance]

If you are in undergrad, try taking a class in both. Also look at the type of jobs that students are getting hired for out of both those programs at your university. That will help you decide which you are most interested in.

[@johnbenjamin9937]

JUSTnMOTO. hope this help you undergrad acctg. MBA Corp Finance or Intl Finance if undergrad finance MBA or MS Accountancy sit for CPA exam jb

[@paulhan7770]

Great video bro

[@nisan6937]

Accounting You can find job much more easier and finance job rare . One of my friend finished with master of finance but difficult to find job so now he's studying again online course for Accounting . Most importance is " where is yr situation?"

[@syedfurqan9982]

I want to be an accountant in future, So I want to ask what is the best degree to make perfect accountant??

[@nisan6937]

@@syedfurqan9982 the higher you get the better

[@syedfurqan9982]

@@nisan6937 thankYou so much for having a advice for me. i will definitely work hard.

[@syedfurqan9982]

@@nisan6937 are you an accountant ??

[@ibrahimalrumaih3869]

Thank you for this inform, Much appreciated

[@WolvesAndFinance]

Thank you for watching!

[@TheAngelinan]

Thank you for making this video. It's so helpful.

[@WolvesAndFinance]

You're welcome. Thank you for watching!

[@samis8098]

WolvesAndFinance Finance is fun, in fact the only thing I enjoy.

[@shymkent]

Excellent video, thnx for posting it

[@WolvesAndFinance]

You are welcome!

[@haqsetatti7717]

I have done my graduation... Now I am going to pursue my PGDM and I going to choose finance and marketing as my specialisation. I have two questions 1st is will accounting knowledge gonna help me in finance? 2nd one is should I go for finance with marketing or finance with international business? Thanks for the video. You are doing great. All the best ahead.

[@WolvesAndFinance]

I will try and answer your questions... Accounting will definitely help you in finance. Both marketing and international business are great programs. Go after the one you find the most interesting. Good luck with your studies! Thanks for watching.

[@haqsetatti7717]

So should I go with finance and IB or finance and marketing???

[@thuydang7432]

video is useful. thanks for sharing

[@WolvesAndFinance]

Thank you for watching!

[@TheJordon125]

Great video. But just speed up a little. Too much time is being spent looking at ur smile

[@carlitoshyd5102]

Nice smile!

[@elizabethc7696]

Thanks for sharing this helps a lot.

[@WolvesAndFinance]

Thank you for watching!

[@sloome100]

Thank you for those helpful videos. Keep up your work

[@WolvesAndFinance]

+Sloom Thank you! More great Finance discussion to come...

[@evasutherland603]

MSc. Accounting Vs Finance: Which Should You Study?

[@HNguyen2393]

thanks so much for this clearly explanation

[@WolvesAndFinance]

+ManHong Nguyen You're welcome! Stay tuned for more videos...

[@chandanchadha8571]

Sir i want to become a finance professional....is experience of accounting equally important as finance in finance field?

[@cardcode8345]

chandan chadha Nope, you need certifications not degree in finance

[@StevenGregoryJayy]

thanks for the video

[@WolvesAndFinance]

+Steven Johnson Thank you! Glad you enjoyed it.

[@siphonkala5438]

So in other words, Finance person we can also call them as Management accountants, cause task is for future

[@mikehoncho1075]

Thank you for posting

[@WolvesAndFinance]

You are welcome. Thanks for watching!

[@gonzauruguay100]

Wow! Your videos are awesome.

[@WolvesAndFinance]

Thank you for watching!

[@davidbutterton2307]

Great Job Zach, thank you for taking the time to define and explain, very well done and very well explained, you should do more good Sir, thank you, David Butterton, Emirates Academy of Hospitality Management, Dubai, UAE

[@WolvesAndFinance]

Thank you for watching. I'm glad it was helpful!

[@davidbutterton2307]

Thanks Zach, nice to hear back from you. I am a business Prof at Emirates Academy of Hospitality Management in Dubai, UAE. The students really enjoyed your video, very insightful and useful of course. Accounting is such a great area to teach and I really enjoy breaking down all the bad perceptions of a really interesting and useful business subject area, videos like yours helps to frame and make sense and gives useful direction, thank you, great work, kind regards, David Butterton

[@takamine1992]

Thank you for the clear explanation. I was wondering. Are you as a professional more valuable if you did a bachelor and master in a combination of the two? It seems that it creates synergies. I'll be done with my masters in Finance in one year and since I did a very different bachelor thinking about doing some programme in accounting. What do you think?

[@WolvesAndFinance]

It entirely depends on what job you get, and what your company values. From a pure cost benefit analysis, in business, getting more than one master's degree will usually not increase your salary at all. However, in my opinion, I am always biased towards getting as much education as possible.

[@takamine1992]

Thank you for your answer. Assume I do not care about the possible increase in salary. I just want to be good at what I do and hope to improve my performance by combining finance and accounting. Because I do not have a job yet I can not say anything about the wishes of a possible employer. On the short term I would like to work in M&A and value companies. On the long term I would like to become a controller at an industrial firm. What do you think? Would having a finance and accounting background add value in the sense of performance of me as an individual in these professions? Thank you again in advance. Ps. I'm from continental Europe. Maybe the situation is a bit different here.

[@WolvesAndFinance]

Education always adds value. However, it is helpful to balance education with work experience. If you don't have work experience in M&A yet, get that first before getting another degree. I have found it useful to get work experience in between college degrees. Your studies will have much more meaning if you can relate them to actual work experience. And many employers will not hire you, if you have a long list of degrees and limited work experience.

[@takamine1992]

Thank you for thinking with me. Ill start working right away after my master and see how things will develop. All the best!

[@Bulkking]

Great video. That really cleared things up!

[@WolvesAndFinance]

Thank you!

[@mnash3]

Cool vid... Excellent statements. Thanks for sharing your perspective.

[@WolvesAndFinance]

Thank you for watching!

[@shabdullah2597]

thanks a lot for your effort...👍keep up

[@WolvesAndFinance]

Thank you for watching!

[@kldodo]

Thank you, this is extremely helpful

[@WolvesAndFinance]

Thank you for watching!

[@adamtadros1472]

I read a comment that said to speed it up.... If you are watching at 1x speed PLEASE! work up to 2x speed, get 2 times the information in the same time.

[@me-clickltd1440]

But what is accountability, and what is Cashflow Holding?

[@thejaggernaut822]

This is an excellent video, it helped me a lot.

[@WolvesAndFinance]

Thanks for watching!

[@Tortortoriz]

Hello sir I am willing to go to school for financing but I'd that a main major more need than accounting.

[@arnoldwillie1528]

management accountants are forward looking and financial accountants are backward looking

[@TheRecruitmentGuy]

Great video, nicely done. Graham martin, The Recruitment Guy

[@madawafernando2093]

great video thanks for the vital information and does the job depend on the university I attend to ? Will it be a key factor or if I graduate from finance or acoounting which field has the most no of opportunities ?

[@WolvesAndFinance]

It does depend a lot on the university. Many businesses like to recruit from certain universities. Try to research where your ideal employer hires from. Also, most universities have stats on how many students find employment. Although, statistics don't matter if you don't get the job you want. I like to recommend focusing on building your resume for the job you want.

[@a..a8907]

convincing and smooth

[@WolvesAndFinance]

Thank you for watching!

[@rutabish4407]

Great video! loved the content and how you explained it

[@WolvesAndFinance]

Thank you for watching!

[@oumoudiallo2360]

great video

[@WolvesAndFinance]

Thanks for watching!

[@almazabraha]

Thank you very informative!

[@WolvesAndFinance]

Thank you for watching!

[@sohaibahmed226]

Pretty well explained.

[@WolvesAndFinance]

Thanks for watching!

[@james.vitali]

Zach, can you still enter in the finance profession with only an accounting major? I still want to do CPA after graduating from my degree.

[@WolvesAndFinance]

Your career is only limited by what you can make happen. If you want to work for a Finance company, start trying to intern at the company of your choice. However, Finance companies will not care about you getting a CPA as much as an accounting firm does. An accounting firm will likely pay the cost of you taking the CPA exam while a Finance company probably won't.

[@teeahtate]

Most finance companies will value the CFA over the CPA. However, there are some finance jobs that ask for a CPA. Most vice presidents of finance are usually CPAs. I agree that it depends on how you market yourself, networking, and your job search skills.

[@shv7355]

we're is more vacancy ,in accounting or in finance ...which profile pay more ...for becoming a finance manager which course one have to pursue ..and for accounts manager which courses one have to do ...pls suggest me some more option in both field ...which are cost effective...

[@WolvesAndFinance]

the job vacancies and salaries vary greatly depending on what city you live in and what industry. I would recommend asking a mentor in your area in the type of work you are curious about.

[@pradipdhakal2665]

Awesome video!!

[@WolvesAndFinance]

Thanks for watching!

[@commitmenttoexcellence]

you put on a fake smile at the end lol

[@dee9238]

What to do if I’ve decided to narrow down my career options in the business field but I don’t know what major? I don’t know my talents and what talents are required for each field. What if I lack some skill? I’m an under average student but want to do business, can I make it or is it something that comes naturally

[@WolvesAndFinance]

Every field in business takes hard work. Go after the area you find most interesting and you can make it. Thank you for watching!

[@mamonurrashed9663]

start the video from 01:30 You are welcome

[@amitgaurav100]

Excellent

[@WolvesAndFinance]

Thanks for watching!

[@felixokatch4587]

Good and informative

[@WolvesAndFinance]

Thanks for watching!

[@clintongrandy7640]

God bless you thank you!

[@ansaransar1814]

Thanks.

[@jamshidmamarasulov5230]

Hello! I want to apply to university and choose accounting and finance field so for getting prepared for university level which book you would reccomend for me to learn this field more deeply?

[@WolvesAndFinance]

You can always read my book, available on Amazon here www.amazon.com/Wolves-Finance-Connection-Between-Business-ebook/dp/B00P48A4UO Good luck at university. Thank you for watching!

[@ripon729]

If love accounting, go for CPA. If you love finance, go for CFA. And if you love hard core finance, go for an MSc in physics or financial mathematics.

[@kynchan3332]

Finance is looking into a crystal ball to forecast the future based on the past and what ever changes are going on. If the forecast is wrong it is the crystal ball that is defective not the financial analyst. The answer is to get a new crystal ball or tape several ball together to get a better picture.

[@WolvesAndFinance]

Great analogy! :)

[@hotdogathlete]

greatly informative video but I had to watch it at 1.25x speed to get through it thanks for the info

[@WolvesAndFinance]

Thank you for watching!

[@raymeester7883]

Great video. But, why do look as if you were put in a awkward position?

[@dpodsful]

Do you have advice for a 38 year looking into switching careers into accounting?

[@WolvesAndFinance]

It depends on your strengths and weaknesses. It will be difficult competing with a younger applicant for an entry level position. But you also have experience which is valuable. Also consider getting specialized training for the job you want. It might take transitioning through multiple positions in a company to get closer to the job you want.

[@teeahtate]

I agree. Most companies look for experience in addition to education. However, networking and joining professional organizations will help your career. If you are interested and have a specialty in taxes, the barriers to entry are not as strict as it is for financial statement accounting.

[@stanlukash33]

good video. thanks

[@WolvesAndFinance]

You are welcome!