The diff between book keeping and accounting Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

What is book keeping

A

book keeping involves keeping records of all financial transactions of a business and the process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is Accounting

A

Accounting includes book keeping but also involves other activities. It’s the process of recording all financial transactions, producing financial statements (accounting period summarizing the business performance, including income statements), and analyzing financial performance of a business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q
A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly