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Bookkeeping is more-or-less the mechanics of Accounting. Accounting would include the development of accounting policies and procedures, the design of reports, compliance with tax laws. Bookkeeping would be the daily recording of business transactions in financial records in accordance with company policies and procedures.

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12y ago
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13y ago

Book keeping involves the methodical documentation of transactions following an orderly and presentable manner. A properly kept book of accounts is required before a reliable set of financial statements can be prepared.

Accounting on the other involves the process of identifying, measuring, recording and communicating financial transactions. The aim of bookkeeping is to be able to account for a set of transactions, an enterprise or organization. The process of accounting culminates in been able to communicate a set of transactions in a prescribed and identifiable manner.

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bookkeeping is the systematic way of recording financial transaction while accounting is the process of classifying,summaring of financial information.

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Q: Differences between book keeping and accounting?
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