Accounting is essentially subset of finance, in terms of discipline. However if we see the career path and the kind of role played in both the disciplines, it differs considerably.
Accounting involves data measuring, filling and mainteanance of financial statements i.e income statement, balance sheet, cash flow statement, hence financial position of a firm can be assessed. People who specialize these activities are designated as accountants.
An accountant is expected to keep track of company’s transactions, tax paid records etc accurately. The analysis and communication of financial information of various companies, is also categorized as the role performed by accountants. Many accountants also do budget analysis, financial planning, IT consulting and some legal services like auditing. The auditer typically audits the financial reports of the firms, and give independent opinion on whether the information given in the statements is accurate and free from material errors.

The simmering Sino-US relationships, paroxysms in European bond market and the domestic budget of this fiscal around the corner are the contributors of high volatility in NIFTY.
The latest fuel to burn the superficial bonhomie between the two super powers is the America’s decision to sell Taiwan $6 billion-worth of weaponry. This is playing an active role in bringing the confidence indexes to their all time lows.
Late last month the yield on 10-year government bonds issued by Greece vaulted to 7.1%, which is the highest since the country became EU member. This yield is 400bps more than that on German bunds, which are considered to be the safest investment in EU. The panic abated on 3-Feb, when the European Commission endorsed the Greek government’s plan to cut the deficit to 3% of GDP by 2012. The storm in Greece has compelled many sleepers like Portugal and Spain to wake-up and start preparing for the similar crises in domestic bonds.
Latest updates from Central Statistical Organization (CSO) has although updated the growth estimate to 7.2%, many are skeptical about the numbers because of the negative growth in the agriculture, thanks to the monsoon this year.