Asked by Aracely Perez on May 29, 2024
Verified
What is the difference between Bookkeeping and Accounting?
Bookkeeping
The recording function of the accounting process.
Accounting
A system that measures the business’s activities in financial terms, provides written reports and financial statements about those activities, and communicates these reports to decision makers and others.
- Distinguish between bookkeeping and accounting.
Verified Answer
ME
marcella evansJun 01, 2024
Final Answer :
Bookkeeping is the recording function within the accounting process. A bookkeeper records the transactions into the company's books (more transactional), while an accountant reviews and analyzes the information including the transactions which are recorded. The accountant then takes the information and prepares the financial statements.
Learning Objectives
- Distinguish between bookkeeping and accounting.
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