Difference between accounting and auditing
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accounting is the art of recording , classifying and summarising financial information transaction and preparation of reports there on
* accounting is prepared by management
*recording of transaction from voucher and preparing financial statements
auditing is an independent examination of financial information of any entity when such an examination is conducted with view to expressing an opinion there on
* auditing is conducted by chartered accountant
*auditing is to examine the financial statements and report on truth & fairness
* accounting is prepared by management
*recording of transaction from voucher and preparing financial statements
auditing is an independent examination of financial information of any entity when such an examination is conducted with view to expressing an opinion there on
* auditing is conducted by chartered accountant
*auditing is to examine the financial statements and report on truth & fairness
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