What is the Difference between Bookkeeping and Accounting?

[Timmy]

What is the Difference between Bookkeeping and Accounting?

[Ref]

If you want to become a bookkeeper then be sure not to get it confused with an accountant. My mum has been a bookkeeper for a building firm for years. Everyone always says, “Oh, you might know this, your mum is an accountant”. It’s so annoying! You don’t need any specific qualifications to become a bookkeeper, you just need to be very precise and organised. I guess basic maths is a requirement nowadays, but in the olden days every transaction was written in a book rather than a computer, so most people had to do bookkeeping as part of their everyday job. So there you go, that is a bookkeeper for you, not very exciting huh?

[Payday]

Originally Posted by Timmy

What is the Difference between Bookkeeping and Accounting?

Accounting is a four stage process of recording, classifying, summarizing and the interpretation of the financial statements while Bookkeeping is a part of Accounting. It is merely a mechanical aspect of recording, classifying and summarizing transaction.