Book Keeping
Book keeping is a subset of accounting and refers to the process of recording and organizing financial transactions of a business. It involves systematically recording the financial activities such as sales, purchases, receipts, and payments in appropriate books or electronic records.
Accounting, on the other hand, encompasses a broader set of activities beyond bookkeeping. It involves the analysis, interpretation, and summarization of financial data recorded in the books of accounts.
Accounting includes tasks such as preparing financial statements, analyzing financial performance, budgeting, tax planning, and providing financial insights to aid in decision-making.
For more information visit this site: https://www.mca.gov.in
In summary, bookkeeping is the process of recording and organizing financial transactions, while accounting involves a wider range of activities including analyzing, interpreting, and summarizing financial data to provide meaningful information for decision-making.
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