Whats in the Accounting?
One part of Accounting focuses
on presenting the financial information in the form of general-purpose
financial statements (balance sheet, income statement, etc.)
These are the recording of
financial transactions along with storing, sorting, retrieving, summarizing,
and presenting the results in various reports and analyses. Accounting is also
a field of study and profession dedicated to carrying out those tasks.
Whats in the Bookkeeping?
Bookkeeping provides the
information from which accounts are prepared. It is distinct process that
occurs within the broader scope of accounting.
These performs wide variety of functions in a daily,
weekly, monthly or even quarterly basis and resolving balances at the end of
the year for businesses so that their accounts are correctly reconciled.
In other respects, this is essential for businesses, and
also useful for individuals and other non-organization.
Discover Accounting, Debitor Dictionary
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