Bookkeeping Versus Accounting:
What is the difference between
bookkeeping and accounting?
There is some confusion over the
difference between bookkeeping and accounting. This is due to the
fact that two are related and there is no universal accepted line of
demarcation between them.
general bookkeeping is the recording of business data in the prescribed
manner, this is the first phase. Much of the work of bookkeeper is of the
clerical in nature. The sphere of accounting starts where the sphere of
bookkeeping ends. accounting is primarily concerned with the design of the
system of records, the preparation of reports and the interpretation of
reports. Accountants often direct and review the work of bookkeepers.