Article Summary ( Financial Planning and Accounting) Essay

Article Summary ( Financial Planning and Accounting) - Essay Example The accountant is the major channel through which quantitative information flows to management† (Lynch & Williamson, 1976, 6). The essay aims to address the following questions after a review of three articles on the subject of finance, accounting or ethical standards, to wit: (1) discuss the key differences in accounting and finance; (2) discuss the types of reports accounting and finance personnel generate and the purpose of the reports; and (3) compare and contrast the types of business decisions that can be made using accounting and finance information. Key Differences in Accounting and Finance Dr. Castro of LeTourneau University briefly presented the differences in accounting and finance by examining their primary functions. Accordingly, accounting is focused on the development and generation of data that measure the accurate quantitative performance of an organization, evaluating its financial status, and to compute for the taxes the firm has to pay.