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Difference Between Bookkeeping and Accounting

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Difference Between Bookkeeping and Accounting

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  1. Difference Between Bookkeeping and Accounting

  2. Bookkeeping VS Accounting We mention here 9 point of view. 2

  3. 1. Definition Bookkeeping Bookkeeping is the process of recording economic events. Accounting But accounting is an information system that identifies records and communicates the economic events. 3

  4. 2. Part Bookkeeping Bookkeeping is just a part of the accounting process. Accounting Whereas, Accounting is the entire part of the accounting process. 4

  5. 3. Title Bookkeeping Person concerned with bookkeeping is called bookkeeper. Accounting On the other hand, a person concerned with the final stage of accounting is called the accountant. 5

  6. 4. Stage Bookkeeping Bookkeeping is the primary stage of the whole accounting process. Accounting Conversely, Accounting is the second or final stage of the whole accounting process. 6

  7. 5. Nature Bookkeeping Bookkeeping is a clerical natured. Accounting But Accounting is an analytical natured. 7

  8. 6. Standards Bookkeeping Bookkeeping follows only own organizational standards. Accounting Reversely, Accounting follows internationally recognized standards. 8

  9. 7. Development Bookkeeping Bookkeeping has no remarkable development. Accounting But Accounting is always developed by experts. 9

  10. 8. Function Bookkeeping In the bookkeeping, the recording is its one function. Accounting Whereas, Identifying, recording, and communicating are accounting major functions. 10

  11. 9. Users Bookkeeping Only internal users (owners, managers, and employees) use bookkeeping. Accounting On the other hand, Accounting has both internal and external users. 11

  12. Thanks! Any questions? You can find me at: ▪ Bankofinfo.com ▪ bankofinfo3@gmail.com 12

  13. Credits Special thanks to Bankofinfo.com who made this topic very clear to us: ▪ To know more click here 13

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