Finance and accounting are both areas of specialization within the field of commerce. They are both extremely important to the business world, but they should not be confused or thought of as the same thing. Finance is the process of managing the monetary and financial resources of a company, both for current and its future. An accounting department handles the financial reporting and financial transactions of a business, including keeping track of the money it spends, balancing its accounts, and preparing financial statements. While finance deals primarily with numbers, accounting deals with the practicalities of how to make sure the numbers add up correctly.