what are the difference between bookkeeping and accounting ?
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Answer / shiak mohammed
Book keeping is only the recording of financial data that a
firm or organisation incurrs on a daily basis, it doesnt
give net financial position of a firm or organisation at a
particular point of time.
Whereas accounting is a system where organisation both
records and has the net result of the financial activities
during the accounting year.
|Is This Answer Correct ?||17 Yes||4 No|
Answer / firstname.lastname@example.org
it is the recording phase of business transactions in a
significant and orderly manner.
Accounting is the art of recording, classifying and
summarising in a significant manner and in terms of money,
transactions and events which are,in part atleast,of
afinancial character and interpreting the result there of
|Is This Answer Correct ?||7 Yes||1 No|
Answer / sirisha
Bookkeeping is procedural and is largely concerned with
development and maintenance of accounting records,it is
the "how" of accounting.
Accounting is conceptual.It is concerned with the "why",
reason or justification for any action adopted.
|Is This Answer Correct ?||7 Yes||3 No|
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