Considering Accountancy and Bookkeeping individually will become a big picture although but to give the difference between the two is not so tough. To know the difference between the two is very important while working with large or small scale organizations. These organizations deal with large amount of data. To organize / manage these data in an efficient manner these two things should be known.
Catch the Difference:
Accountancy -
It keeps track of the data as well as records the day to day transactions. It also takes the information from the bookkeeping process. It then stores these details for future business reference. At any time these details can be retrieved for any financial calculation.
Bookkeeping –
Bookkeeping is concerned with the systems that enable the financial information to be extracted in the transactions that generate revenue and incur expense in the business. It is the most tedious part of finance.
Knowing the difference of these two solves half of the accounting problem. One can assume that in the world of accountancy, bookkeeping is an important part.
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