Difference Between Financial Analyst and Business Analyst

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Infographics

Financial analystsFinancial AnalystsA financial analyst analyses a project or a company with the primary objective to advise the management/clients about viable investment decisions. They do a thorough financial analysis and make suitable objective projections to arrive at their conclusions.read more and business analysts analyze the client’s financial data, and based on such an analysis; they help the clients make important business decisions. However, due to the difference in the kind of data they analyze, they differ. Here are the infographics detailing the differences –

Similarities Between Financial Analyst and Business Analyst

  • Examination of Data – Both the financial analyst and the business analyst are responsible for examining their client’s data and giving useful insight to the business owners based on their examination. While a financial analyst examines financial data, a business analyst examines the day-to-day business data.Help Businesses in Decision Making – Both professionals intend to arrive at meaningful conclusions or facts to help businesses make important decisions. A financial analyst helps businesses make financial decisions, and a business analyst helps businesses make business-related decisions.Can be Internal or External – Financial analysts and business analysts can either be internal to the business, i.e., an employee or an independent professional. If they are employees, they earn remuneration from the business entityBusiness EntityA business entity is one that conducts business in accordance with the laws of the country. It can be a private company, a public company, a limited or unlimited partnership, a statutory corporation, a holding company, a subsidiary company, and so on.read more, and if they are independent professionals, they earn professional fees from the business entity.Strong Analytical Skills are Needed – These professionals require strong analytical skills since they must interpret data and help businesses make important decisions by making useful conclusions. Thus, they need to pay attention to minute details and relate one fact to the other to represent the business situation in a better manner.

Key Differences Between Financial Analyst and Business Analyst

These were some points that differentiate financial analysts from business analysts. It would be best to choose a career that best suits your educational qualifications, interest, and work experience.

This has been a guide to financial analyst vs business analyst. Here we discuss the top similarities and differences between the two and infographics. You may also have a look at the following accounting articles –

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