Accounting & Book Keeping
- Bookkeeping includes identifying, measuring & recording all the financial transaction of an individual or of any businesses.
- Book keeping will help in decision making of any financial aspects based on data provided in it.
- The objective of bookkeeping is to keep all the records of any individual or business’s financial transactions proper & systematic.
- There are two different types of bookkeeping – single entry bookkeeping & double entry bookkeeping.
- Here in bookkeeping, the bookkeepers are required to be accurate & knowledgeable about all financial topics.
- Accounting includes process of summarizing, interpreting & communication of financial transaction.
- In Accounting, with the help of data provided by accountant further financial decision can be made by companies’ management authorities.
- The major objective of accounting is to gauge the financial situation and further communicate the information the relevant authorities. In accounting, the department does preparation of company’s budgets & plan loan proposals.