There is certainly a difference between bookkeeping and accounting as the bookkeeping is the subset of accounting. Bookkeeping refers to recording all the transactions that are made within a business. The transactions that are recorded by bookkeeping are issued and received invoices to customers
Accounting is an art of recording, classifying, summarizing and inter prediction of economical information to the decision maker is called Accounting.
Maintaining the record of financial transactions and financial day to day business activities is called bookkeeping. The basic purpose of bookkeeping is to maintain the financial records of a business clean, transparent and up to date. Bookkeeping provides the basic financial information which later
Accounting For Depreciation Learning Objectives: Define and explain the term “depreciation”. Why does depreciation calculated and charged? What are the different methods for providing depreciation? Definition and Explanation of Depreciation: The value of assets gradually reduces on account of use. Such reduction in value
Bookkeeping Versus Accounting: Learning Objectives: 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