Difference between Bookkeeping and Accounting Tasks

Nov 30 -0001

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.