DISTINCTION BETWEEN BOOK-KEEPING AND ACCOUNTING
Book-keeping is a part of accounting and is concerned with the recording of transactions which is often routine and clerical in nature, whereas accounting performs other functions as well, viz., measurement and communication, besides recording. An accountant is required to have a much higher level of knowledge, conceptual understanding and analytical skill that is required of the book-keeper.
An accountant designs the accounting system supervises and checks the work of the book-keeper, prepare the reports based on the recorded data and interprets the reports. Nowadays, he is required to take part in matters of management, control, and planning of economic resources.
Book-keeping is a part of accounting and is concerned with the recording of transactions which is often routine and clerical in nature, whereas accounting performs other functions as well, viz., measurement and communication, besides recording. An accountant is required to have a much higher level of knowledge, conceptual understanding and analytical skill that is required of the book-keeper.
An accountant designs the accounting system supervises and checks the work of the book-keeper, prepare the reports based on the recorded data and interprets the reports. Nowadays, he is required to take part in matters of management, control, and planning of economic resources.