Register now or log in to join your professional community.
Book Keeping and accounting itself says, that Book Keeping is keeping of records of books, and accounting is keeping the record of all kinds of accounts.
I dont agree. bookkeeping is the name of keeping the financial records only. while Accounting is the art of recording, Classifying, analyzing, summarizing in significant manner and interpreting the result of financial event of the business.
Not Agreed. The bookkeeping is the subset of Accounting and involves the recording of the economic/business transactions. While the Accounting is a complete cycle of a transaction starting from identifying the transaction to the reporting in the desired pattern.
Not same.......................
Bookkeeping is only a part of Accounting wherein it involves recording and monitoring of transactions in a company.
The accounting process involves recording, interpreting, classifying, analyzing, reporting and summarizing financial data. Bookkeeping is the process of recording financial transactions. Recording financial transactions is the first part of and the foundation of the accounting process.
