July 6th, 2009
Accountancy . Book . Keeping . Meaning . What
Categorized under: Accounting Questions
What Is The Meaning Of Book Keeping & Accountancy?
Book keeping is just recording monetary transactions in a book chronologically. Or in whatever way it serves the purpose. Accountancy is more, it involves interpretation et all of the data provided in the books, drawing colclusions etc. Book keeping is just a part of Accountancy.
Comments
Every business runs on cash flow and credit … money coming in and money going out.
Bookkeeping is all about keeping track of the bank accounts, where the money goes, how much of it you have, how much is due you.
Accounts Receivable (invoices for services rendered, or products bought and sold), and Accounts Payable (payroll for employees, bills like phones, power, health insurance, taxes etc).
The reason it’s called Bookkeeping is because these kinds of records are usually kept in a ledger of some kind, which is usually shaped like a book.
shaan
July 6th, 2009
precisely ,book keeping means the method of recording the business transactions in an order for providing information that may be required to the business man in future.
accountancy is the art of classifying, analyzing, recording and summarizing at least part of the available financial info for the purpose of passing on the results of these exercises to the business managers and to the managers.
Myth_Und
July 7th, 2009
bookkeeping: “the work or skill of keeping account books or systematic records of money transactions”
accountancy: “the art or practice of an accountant”
accounting: “1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. (distinguished from bookkeeping ).
2. a detailed report of the financial state or transactions of a person or entity: an accounting of the estate.
3. the rendering or submission of such a report. ”
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Monica
July 7th, 2009
In simple words ” PERSNOL ACCOUNTANT” i hope answer your question.
Erika
July 7th, 2009