difference between book keeping and accounting
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Transcript of difference between book keeping and accounting
RAMA VILASOM TRAINING COLLEGEVALAKOM
SUBMITTED BYANIL KUMAR,REG: NO:OPTION: COMMERCE.SUBMITTED TOAMINA BEEVILECTURER OF COMMERCE
OBJECTIVES OF BOOK - KEEPINGRecording of
transactions in subsidiary books are the primary stage in
book - keeping
NATURE OF WORK IN BOOK - KEEPING
The work of book - keeping is clerical and repetitive in nature.
Hence it does not require any special skill and knowledge
NATURE OF WORK IN ACCOUNTINGThe work of
accounting is complex in
nature. Hence it requires
special knowledge and skill
RESPONSIBILITY OF BOOK KEEPING
Responsibility of book - keeping is limited as it is concerned with the recording of business
transactions
MUTUAL DEPENDS IN BOOK - KEEPING
It depends on accounting in order to make the
accounting records more meaningful
MUTUAL DEPENDS IN ACCOUNTING
It depends on book - keeping in order to get the
accounting records and make them
meaningful
BUISINESS RESULTS IN
BOOK - KEEPING
The work of book keeping extends only up
to the preparation of trial balance. Hence it does not show the net
result and financial position of a concern
BUISINESS RESULTS IN ACCOUNTING
It shows the profit earned or the loss sustained and the position of assets and liabilities of a
concern
RECTIFICATION OF ERRORS IN
ACCOUNTING
Errors are rectified as a preliminary to the preparation of fine accounts