How to Differentiate Between Bookkeeping and accounting, both words are mainly used for business accounting purposes. Bookkeeping is basically recording financial transactions and events. And bookkeeping is the stepping stone of accounting. It is only a part of accounting and bookkeeping is work on two methods first is a single-entry system and the second is a double-entry system. On the other side, it is a process of including records, classifying and interpreting financial information. And accounting is work on three methods first is financial accounting, second is cost accounting and the last is management accounting.
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