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Difference Between Book Keeping And Accounting (edit)
Revision as of 11:57, 10 April 2020
, 11:57, 10 April 2020Created page with "<tab sep=bar head=top class=diff> Book Keeping|Accounting Bookkeeping means to identify, measuring, recording and classifying all business financial tran..."
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Book Keeping|Accounting
Bookkeeping means to identify, measuring, recording and classifying all business financial transactions in the books of accounts.|Accounting means to summarise, analyzing, interpreting and communicating the result of all business financial transactions to the owner or related parties in the form of financial statements.
The main object of the bookkeeping is to recording all business financial transactions in a systematic manner and keeping all documentation related to these transactions.|The main aim of the accounting is to get know and communicate about the growth or decline rate of the business for a particular period.
For bookkeeping no higher and special knowledge is required about the core of the accounting process.|For accounting as compare to bookkeeping an accountant must have higher and special knowledge about the core of the accounting process.
Bookkeeping is the first step of the accounting process so it is not dependent on accounting.|Accounting is the second step of the accounting process so it is not dependent on bookkeeping.
The financial statement is not part of bookkeeping.|The financial statement is part of the accounting process.
Bookkeeping has the following tools to perform duty: Journal, Subsidiaries books, Ledger |Accounting has the following tools to perform duty: Trial balance, Financial Statement
Bookkeeping has no branch, but it can be divided into two methods, single entry system and a double-entry system.|Accounting has the following branches: Financial Accounting, Cost Accounting, Management Accounting, Human Resource Accounting, Social Responsibility Accounting
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Book Keeping|Accounting
Bookkeeping means to identify, measuring, recording and classifying all business financial transactions in the books of accounts.|Accounting means to summarise, analyzing, interpreting and communicating the result of all business financial transactions to the owner or related parties in the form of financial statements.
The main object of the bookkeeping is to recording all business financial transactions in a systematic manner and keeping all documentation related to these transactions.|The main aim of the accounting is to get know and communicate about the growth or decline rate of the business for a particular period.
For bookkeeping no higher and special knowledge is required about the core of the accounting process.|For accounting as compare to bookkeeping an accountant must have higher and special knowledge about the core of the accounting process.
Bookkeeping is the first step of the accounting process so it is not dependent on accounting.|Accounting is the second step of the accounting process so it is not dependent on bookkeeping.
The financial statement is not part of bookkeeping.|The financial statement is part of the accounting process.
Bookkeeping has the following tools to perform duty: Journal, Subsidiaries books, Ledger |Accounting has the following tools to perform duty: Trial balance, Financial Statement
Bookkeeping has no branch, but it can be divided into two methods, single entry system and a double-entry system.|Accounting has the following branches: Financial Accounting, Cost Accounting, Management Accounting, Human Resource Accounting, Social Responsibility Accounting
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