what is the difference between bookkeeping and accounting in easy word.
This query is : Resolved
07 October 2016
difference.
14 October 2016
Book keeping is maintenance of records of various transactions taking place in the business. It is maintenance of creditors books, debtors books, cash / bank books etc. Where as accounting means presentation of them in proper manner like P&L statement, Balance sheet, Income & Expenditure statement etc. For the purpose of accounting, accounting standards as prescribed by ICAI has to be followed.
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