Question

distinguished between book keeping and accounting

Answer 1

Hi mate your answer is.... While bookkeeping and accounting are both essential business functions, there is an important distinction. Bookkeeping is responsible for the recording of financial transactions. Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data.
In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data...
I hope you will get your answer
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Answer 2

Definition
Bookkeeping
Bookkeeping is mainly related to identifying, measuring, and recording, financial transactions

Accounting
Accounting is the process of summarizing, interpreting, and communicating financial transactions which were classified in the ledger account

Decision Making
Bookkeeping
Management can't take a decision based on the data provided by bookkeeping
Accounting
Depending on the data provided by the accountants, the management can take critical business decisions
Objective
Bookkeeping
The objective of bookkeeping is to keep the records of all financial transactions proper and systematic

Accounting
The objective of accounting is to gauge the financial situation and further communicate the information to the relevant authorities

Preparation of Financial Statements
Bookkeeping
Financial statements are not prepared as a part of this process
Accounting
Financial statements are prepared during the accounting process
Skills Required
Bookkeeping
Bookkeeping doesn't require any special skill sets

Accounting
Accounting requires special skills due to its analytical and complex nature

Analysis
Bookkeeping
The process of bookkeeping does not require any analysis
Accounting
Accounting uses bookkeeping information to analyze and interpret the data and then compiles it into reports
Types
Bookkeeping
Basically there are two types of bookkeeping - Single entry and double entry bookkeeping

Accounting
The accounting department does preparations of a company's budgets and plans loan proposals

Bookkeepers and Accountants
Bookkeeping
Bookkeepers are required to be accurate in their work and knowledgeable about financial topics. Bookkeepers work is usually overseen by an accountant
Accounting
Accountants with sufficient experience and education can obtain the title of Certified Public Accountant (CPA)