Author Topic: Bookkeeping and Accounting  (Read 543 times)

Offline 9992free

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Bookkeeping and Accounting
« on: October 29, 2013, 09:18:53 PM »
How is bookkeeping different from accounting? Isn’t it the same thing? As far as I know, bookkeeping is part of accounting. So do I need a bookkeeper and an accountant? Or will an accountant do for both tasks?
« Last Edit: October 29, 2013, 09:18:53 PM by Guest »
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Offline MatrixBall

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Re: Bookkeeping and Accounting
« Reply #1 on: November 04, 2013, 02:58:24 AM »
The difference between the two is that, bookkeeping represents a process of recording actual transactions of a business. Bookkeeping does not involve any analysis of the accounting data while in accounting it includes identifying, measuring, recording and reporting and analyzing economic events and transactions. It involves interpreting information, and designing information systems.
« Last Edit: November 04, 2013, 02:58:24 AM by Guest »
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