What is the difference between Business and Finance? - ProProfs Discuss
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What is the difference between Business and Finance?

Asked by S. Barnes on May 21, 2019

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2 Answers

J. Harty

Have keen interest in writing, traveller by heart.

J. Harty
Writer, M.A, Chula Vista

Answered on Aug 28, 2019

Business and finance are two terms that are interrelated, but they are not totally the same. Because there is no way you will be talking the businesses and you will be jettisoning the important roles of the knowledge of finance. Most business people or organizations focus mostly on getting profits without having a basic understanding of the term ''finance''. Finance simply means the management of money and other assets. It basically has to do with time and money.

It deals with the study of how and how much incomes are made by individuals, businesses within a particular period of time. Business, on the other hand, has to do with the establishment of commercial enterprises and the management of those enterprises. The common knowledge about what business is the process of selling goods and services. The study of finance will help you to manage and control most expenses and incomes of your business.

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Daniel Frederic

Daniel Frederic

Answered on Jul 16, 2019

For every businessperson, aside from stressing up yourself doing lots of mathematics, you need to understand strictly business and Finance to earn more money, most notably in the current economic crises of both United Kingdom and the United States. Among the business terms, every businessperson should know by heart are business and Finance. Knowing the definition of each term would help a company more in media interviews and seminar. Also, having some basic knowledge on how to handle their business efficiently.

Business is a legally created organization that renders the service of selling goods. To start a business, you should have connections to a legal firm to gain a legal foundation (a working permit by the government). On the other hands, Finance deals basically with time and money. It is the first study of how individual or organization earn, save, and spend money within a specified period.

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