The fields of accounting, finance, and banking are often called the "three pillars" of the financial world. While they are deeply interconnected, they serve distinct roles in the economy: records the past, finance plans the future, and banking provides the infrastructure to move and protect money. 1. Accounting: The Language of Business
Accounting is the systematic process of recording, classifying, and reporting financial transactions. It provides a "scorecard" of a business's health by looking backward at what has already occurred. accounting finance banking