Question 21 of 26
Q.State the differences between book-keeping and accounting (any 3).
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2024Subjective· 3mImportance★★★★★
81% · 21/26 Questions
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Start your 14-day free trial to unlock the full solution →Book-keeping = recording (first, clerical stage); Accounting = the wider process of classifying, summarising, analysing and interpreting that records lead to (a later, analytical stage).
| Basis | Book-keeping | Accounting |
|---|---|---|
| Scope | Concerned only with identifying, recording and posting transactions | Wider — includes classifying, summarising, analysing and interpreting in addition to recording |
| Stage | Primary/first stage of the accounting process | Secondary stage; it begins where book-keeping ends |
| Objective | To maintain systematic and complete records of transactions | To ascertain the net result (profit/loss) and the financial position of the business |
| Nature of work | Routine and clerical | Analytical and requires judgement |
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