Monday, 6 April 2015

Difference between an accountant and an economist in terms of calculating monetary value

In terms of calculating the monetary value account conceot is so far different from an economist. Where an economist considers the inflation of the money there an accountant necer consider the inflationary value if money. Not only that when an accountant accounts the total earning of your business organisation there an economist consider the money if you were do job in other organisation instead of spending time in your organisation. In this case an economist consider the the value of your labour as the capital of the organisation that is added with all other capital. The value of the money of today is not equal with the value of the money of ten years past.

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