Bookkeeping is the process of recording financial transactions. Accounting interpret, classify, analyse, report and summarise financial data of business establishments. Both processes are vital for any organisation. Accounting and Bookkeeping may sound same if you are not familiar with finance. There are fundamental differences. Decisions are taken based on the data provided by accountants. Business decisions can’t be taken based on the Bookkeeping data. Only accountants can evaluate the financial position of the company. It may involve analysis of complex data. Special skills are not required for Bookkeeping. Accountant analyses and interpret the data prepared. Company’s budget is planned based on this analysis. The features of Accounting and Book Keeping are well presented in the following presentation.

John U

46 resources

1

1

2

Like