Differences between accounting and finance

Problem 1: What are differences between accounting and finance? What are the roles of financial managers? What are their fiduciary responsibilities of financial managers? What ethical standards should they abide by?

Problem 2: What are advantages and disadvantages of various business forms? What effect does the form of a business have on its profitability and the availability of funds? What is the relationship between a business form and its ability to raise capital?

Problem 3: What is the relationship between risk and return in an organization? Provide examples. How does your organization diversify and mitigate business risk? How do ethical issues influence financial decisions? What effect could this have on financial presentation?

Problem 4: How is the statement of cash flows interrelated with the income statement and balance sheet? If you were a credit analyst, which financial ratios would be important to decision-making? Why? What ratios would be important if you were a financial manager? Why?

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