Accounting is the skill to manage money effectively, to provide a record of transactions which can be audited and to achieve a balanced budget over time.

It is about the efficient administration of systems to ensure this

e.g Payroll

Stock control

Payments and receipts

Capital programmes

Asset Inventory

Planned programme maintenance

Economics is the science of resources, planning their use and measuring the impact of use in financial terms. Economics is about predicting resource use and costs, on the basis of past activity and modelling in various assumptions.