ue:6
Define book-keeping and accounting ?
Answers
Explanation:
Book-keeping:-
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.
Accounting:-
Accounting is the art of recording, classifying, summarizing in a significant manner, transactions and events which are of financial character, and interpreting the results thereof.
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Answer:
Book Keeping-A lot of people think the two roles are the same, however, the term bookkeeping refers to recording financial transactions and activities on a daily basis. It's a subset of accounting which requires the following jobs to be done in order to build a financially stable business: Recording financial transactions.
Accounting-Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions
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