difference between book keeping and accounting

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RAMA VILASOM TRAINING COLLEGEVALAKOM

SUBMITTED BYANIL KUMAR,REG: NO:OPTION: COMMERCE.SUBMITTED TOAMINA BEEVILECTURER OF COMMERCE

TOPICDIFFERENCE

BETWEEN BOOK – KEEPING AND

ACCOUNTING

OBJECTIVES OF BOOK - KEEPINGRecording of

transactions in subsidiary books are the primary stage in

book - keeping

OBJECTIVE IN ACCOUNTING

Examines the accuracy of recording

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

RESPONSIBILITY OF ACCOUNTING

Responsibility of accounting is very

wide.

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 ERRORES IN BOOK

KEEPING

Beyond the purview of book keeping

RECTIFICATION OF ERRORS IN

ACCOUNTING

Errors are rectified as a preliminary to the preparation of fine accounts