how the book keeping differs from accounting
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Book keeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying analysing and summarizing the financial data.
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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. ... Read this article to understand the major differences between bookkeeping and accounting.
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