Difference between Accounting and Book Keeping

Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • #3428
    Aarohi Patel
    Participant

      I’m an upcoming senior commerce student in India. Can someone explain the key differences between Accounting and Book Keeping? I have my boards next year and am quite confused about these two concepts.

      #3429
      Shruti
      Participant

        Accounting provides us financial information that helps in decision making while book keeping only maintains records of transactions. Accounting principles and concepts are followed in accounting while book keeping follows recording requirements only.

        #3430
        Priyanka
        Participant

          Accounting provides quantitative as well as qualitative information that helps in analyzing the financial performance of business. Book keeping just provides quantitative information about the business transactions.

          #3431
          Aditya Gupta
          Participant

            Accounting helps in preparing financial statements like income statement, balance sheet, cash flow statement etc. Book keeping can’t prepare such financial reports. So you can say accounting is more advanced and helps management while book keeping is just a routine job. Hope this helps!

          Viewing 4 posts - 1 through 4 (of 4 total)
          • You must be logged in to reply to this topic.

          Manage Push Notifications

          notification icon
          We would like to show you notifications for the latest news and updates.
          notification icon
          You are subscribed to notifications
          notification icon
          We would like to show you notifications for the latest news and updates.
          notification icon
          You are subscribed to notifications