Difference between Bookkeeping and Accounting Tasks




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

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