Accounting, Finance and Economics: Razak Kojo Opoku writes
Finance, Economics and Accounting are tripartite elements of the management of every economy and resource of the State.
1. Accountant tracks the flow of money and resources.
2. Economist tracks the larger trends that drive the money and resources.
3. Finance is about raising and managing the capital or funds for any expenditure.
Economics, Finance and Accounting are closely related since they are concerned with the same subject matter of goods, services, businesses and individuals.
Fiscal Policy and Monetary Policy can never be successful without the combined efforts of Economics, Finance and Accounting.
Therefore, a person with a Finance or Accounting background has the right expertise to comment on the management of the National Economy because the issues go beyond an Economics Degree.
Agriculture/Farming, Technology, Digitalization, Energy/Petroleum, Tourism, Marketing, Lands & Natural Resources, Entrepreneurship, Security, Education, Real Estate, Engineering, Medicine/Pharmacy, Media, Judiciary, Procurement/Supply Chain etc are all connected to the management and sustainability of an Economy.
Ideally, the Ministry of Finance, Bank of Ghana, Ghana Revenue Authority, Ghana Audit Service and Ghana Statistical Services will require the services of persons with Finance, Accounting, Economics, Statistics, Financial Mathematics and Technology etc. backgrounds working together to achieve the common goal of economic transformation.
Source: Razak Kojo Opoku
Trending News
CSOs eyes civil action against government over alleged destruction of protected forests
14:49Kasoa-Weija road floods: We didn’t have money to fix it– Asenso-Boakye
07:02EC corrects voter roll errors
12:20My brothers and sisters are Christians, I cannot say that I’ll not get close to them – Bawumia as he fosters interfaith harmony
07:25Franklin Cudjo’s allegations that we disenfranchised SALL ‘false’ – EC
07:03Cecilia Dapaah case: EOCO’s corrupt conduct must be probed – Adam Bonaa
12:00Ghanaian man told he is not British after 42 years in UK
13:32C/R: We demand immediate action on Kasoa-Winneba road traffic – NDC tells Akufo-Addo
07:03Lawyers in shock, disbelief as Chief Justice reconstitutes, chairs Opuni case panel
10:59NHIA CEO introduces free medical screening for Ghanaians on their birthdays
13:10