Difference Between Bookkeeping and Accounting

Bookkeeping and accounting are both relevant tool in communicating the financial activity, performance and condition of a business entity.The important role of bookkeeping and accounting in every business has increased the demand for bookkeeping and accounting job or services worldwide. Because of the high demand, it made bookkeeping and accounting as two of the most … [Read more...]

Business Transaction

In accounting, you record, classify, summarize and report financial information, of an individual, business or organization, to interested users. The reported financial information comes from what is referred to as business transactions.In understanding the accounting basic, you need to learn and get familiar to the starting point and core of the accounting process, which … [Read more...]

Types of Bookkeeping Systems

Learning the types of bookkeeping systems is essential in identifying which one to adopt and use in keeping the records of business transactions. By studying the different types of bookkeeping systems, you will be able to determine the most appropriate to the business or client that you serve.In this article, you will be introduced to single-entry bookkeeping, double-entry … [Read more...]

What is Business?

Accounting is defined as the language of business. It is the means by which business information is communicated to the stakeholders.Here are some examples on how accounting communicates business financial information to stakeholders:Accounting report helps business management to decide whether to continue or discontinue the sale of their products or services. … [Read more...]

What is Bookkeeping?

Learning bookkeeping is essential in understanding the accounting process that which communicates the financial condition and performance of a business.By studying the fundamentals of accounting and bookkeeping, you will have a deeper appreciation of how the financial statements are generated, what conclusion can be formed, and why financial data resulted that way.In … [Read more...]