Accounting vs. Finance: What's the difference?

ROLE TYPES
📚 Accounting: Compliance-focused, detail-oriented, process-driven
📊 Finance: Strategic, forward-looking, decision-making-focused

KNOWLEDGE
📚 Accounting: GAAP, IFRS, tax laws, financial statements, audit procedures
📊 Finance: Capital markets, financial modeling, strategic planning, risk management

SKILLS
📚 Accounting: Financial reporting, auditing, tax compliance, bookkeeping, financial controls
📊 Finance: Financial analysis, investment analysis, forecasting, budgeting, planning

DESIGNATIONS
📚 Accounting: CPA, CMA, CIA, CGMA
📊 Finance: CFA, FRM, CAIA, CPA

CAREER PROGRESSION
📚 Accounting:
Staff Accountant → Senior Accountant → Accounting Manager → Controller → CFO
📊 Finance:
Financial Analyst → Senior Financial Analyst → Finance Manager → CFO

TYPE OF WORK EXPECTED
📚 Accounting: Audit, tax, consulting, forensic accounting, risk management
📊 Finance: Investment banking, private equity, venture capital, corporate strategy, treasury

ALTERNATIVE CAREER PATHS
📚 Accounting: Partner in a firm, transition to consulting or forensic accounting
📊 Finance: Transition to investment banking, private equity, venture capital

Here's an easy way to remember the difference:

Accounting is BACKWARD looking.
Finance is FORWARD looking.