List of Accredited Online Degrees
The concept of monetary funds has evolved over many centuries into the current financial system the world is familiar with today. The ancient ways of owing (debtors) and lending (creditors) money has led to the basic double entry method of accounting used in almost all aspects of business. The practice of accounting is dependent on a strong and practical financial system. The two degree concentrations are varied in how the courses of study are applied in individual business settings.
Accounting is defined as the theory and system of setting up, maintaining, and auditing the financial records (bookkeeping) of an organization. Accountants evaluate numbers from financial records and respectively communicate to the appropriate persons the cause and effect of the learned financial findings. The topic of financial mis-management has come into light in recent years because of the early practices of accounting having an ease of monetary gain with the minimal chance of being discovered. The revised practices of accounting now incorporate multiple sources of bookkeeping and outside auditing, and with the consequence of severe punishment have led to the decline in fraudulent activity.
Finance is the management of revenue and the delegation of wealth and profits amongst government institutions, company obligations, organizational subsidiaries, or individual accounts. The purpose of finance is how to best advise and allocate monetary funds and assets into profitable investments. The delicate balance of risk and certainty play into the factors deciding what avenues to fund in order to gain maximized profits. The well trained and intuitive financial planner will have a keen perception of the time value of money, and the appropriate risk taking skills to best suit the investing firms objectives. The areas of finance can be broken into several sectors; public finance, corporate finance and personal finance. Each sector follows General Accepted Accounting Principles (GAAP) guidelines for ethical practice and liability.