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differentiate accounting from bookkeeping

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differentiate accounting from bookkeeping

Accounting and bookkeeping are both essential financial practices, but they differ in scope and function. Bookkeeping involves the systematic recording of financial transactions, such as sales, purchases, and payments, ensuring accuracy in financial data. Accounting, on the other hand, is a broader field that involves analyzing, interpreting, and summarizing financial information to prepare reports like income statements and balance sheets, helping businesses make informed financial decisions.
By: 360 Accounting Pro
03-Feb-2025 02:08 pm
Business & Services
User Website : https://www.360accountingpro.com/blog/the-difference-between-accounting-and-bookkeeping

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