Accounting and Bookkeeping
What is the Accounting and Bookkeeping? Accounting and bookkeeping are essential functions for any business operation. Accounting refers to the systematic recording, analyzing, and interpretation of financial data to provide useful information to business owners and stakeholders. Bookkeeping, on the other hand, involves the daily recording and organization of financial transactions to ensure accuracy and compliance with accounting principles. The objectives of Accounting and Bookkeeping. The primary objective of accounting and bookkeeping is to help businesses keep track of their finances, maintain records, and make informed decisions. Proper financial management provides insight into the profitability, financial health, and growth potential of a business. Process of Accounting and Bookkeeping The process of accounting and bookkeeping involves several steps, including recording financial transactions, posting entries into various accounts, reco