Accounting and Bookkeeping

Activities involved in accounting

✔Bookkeeping is the process of classifying, recording and summarizing business  

   transaction.

✔Accounting is the process of classifying, recording and summarizing business

   transactions in monetary  units and interpreting the financial data of a business in 

   order to assist stakeholders in making decisions.

✔Bookkeeping is the initial step in the accounting process,that is part of the accounting

   process.