Definition of bookkeeping and accounting
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The accounting process involves recording, interpreting, classifying, analyzing, reporting and summarizing financial data. Bookkeepingis the process of recording financial transactions. Recording financial transactions is the first part of and the foundation of theaccounting process.
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Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. ... Bookkeeping is usually performed by a bookkeeper.
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