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Funding a business
Is There Any Difference Between Financial Administration And Financial Accounting?
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[QUOTE="King bell, post: 263825, member: 75687"] Yes, a financial administrator's work handled the day-to-day tasks involved in running a business or organization, while financial accounting deals with the processes, rules and regulations for companies that operate on different levels of government. However, it is important to note that these two fields have many overlapping responsibilities and do entail many similar issues. Financial administrators often take on traditional duties of financial accounting as well as those involved with process and data management. Additionally, their duties often include general business administration and HR management. Financial accountants are primarily responsible for the pre-closing process (i.e. preparing financial statements), managing the post-closing process (i.e. audit and closing), and ensuring that the closing process is conducted correctly. They are also responsible for the pre-closing of all accounts, the following of company policies, preparing agendas and minutes of meetings, attending to minor tasks assigned by upper management, providing reports on various activities, and handling inquiries from external parties. Financial administrators work with a variety of employers covering many different industries. In fact, since financial accountants are directly involved in all phases of a business' operations--from beginning to end--they can be found in almost any industry. [/QUOTE]
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Is There Any Difference Between Financial Administration And Financial Accounting?
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