Difference Between Book Keeping and Accounting

by Julia Lopez Student

The records of the financial transactions are important for any business. They prove the reliability of the organization and also increases the transparency of the money inflow and outflow. Book keeping and accounting are two terms that deal with the records of money being transactions in and around a company.

How Book Keeping and Accounting Differs

The Expertise

Book keeping needs a deep attention to detail. One should be meticulously careful not to miss any tiny detail about the company’s transactions. No specific qualification may be needed to become a book keeper. Often, employers employ trustworthy persons as book keepers, and hence book keepers work very close to the company
owners.

Now-a-days, companies are preferring personnel with basic knowledge on book keeping and accounting as book keepers.

Also Read: What Accounting Conservatism is All About

On the other hand, the person who does accounting tasks depends on the size of the company. For smaller businesses, the company owners take care of the accounting reports. However, for bigger companies with many employees continue reading.......