| Book Keeping
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Accounting
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| Bookkeeping means to identify, measuring, recording and classifying all business financial transactions in the books of accounts.
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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.
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| 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.
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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.
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| For bookkeeping no higher and special knowledge is required about the core of the accounting process.
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For accounting as compare to bookkeeping an accountant must have higher and special knowledge about the core of the accounting process.
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| Bookkeeping is the first step of the accounting process so it is not dependent on accounting.
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Accounting is the second step of the accounting process so it is not dependent on bookkeeping.
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| The financial statement is not part of bookkeeping.
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The financial statement is part of the accounting process.
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| Bookkeeping has the following tools to perform duty: Journal, Subsidiaries books, Ledger
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Accounting has the following tools to perform duty: Trial balance, Financial Statement
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| Bookkeeping has no branch, but it can be divided into two methods, single entry system and a double-entry system.
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Accounting has the following branches: Financial Accounting, Cost Accounting, Management Accounting, Human Resource Accounting, Social Responsibility Accounting
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