Distinguish, differentiate, compare and explain what is the difference between Bookkeeping and Accounting Tasks. Comparison and Differences.
Differences between Bookkeeping and Accounting Tasks
| S.No. | Bookkeeping | Accounting Tasks |
| 1 | Bookkeeping is a process by which financial transactions are identified, measured, recorded and classified. | Accounting is a system of recording, classifying, summarizing and interpreting financial information. This information is recorded and classified through the book-keeping process. |
| 2 | Bookkeeping is the first and primary stage of accounting. It is the base for accounting. | Accounting is the secondary stage that begins where bookkeeping ends. |
| 3 | Bookkeeping helps to keep a systematic record of financial transactions. | Accounting has a objective to ascertain the financial position. |
| 4 | Financial statements are prepared after bookkeeping process. | Financial statements of any entity are prepared on the basis of financial records obtained through bookkeeping. |
| 5 | It is routine and clerical in nature. | It is analytical in nature. |
| 6 | It doesnt require any special skills. | Accounting, on the other hand, requires special skills due to its analytical and its complex nature. |
| 7 | Prepares the books for the accountant. | Performs audits. |
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Difference between Accounting Tasks vs Bookkeeping
Bookkeeping vs Accounting Tasks
Differences between Accounting Tasks vs Bookkeeping
