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Under BOOK KEEPING:
Book keeping is responsible for the recording of financial transactions
(ii) Bookkeeping does not involve interpreting and analyzing data.
Bookkeeping is capable of handling the recording part of the accounting process
(i) Accounting is responsible for interpreting, classifying, reporting and summarizing financial data.
(ii) Accounting involves interpreting and analyzing data
(iii) Accountant handle all parts of the accounting process.
(i) Bookkeeping gives companies a reliable measure of their performance
(ii) It also provides information on general strategic decisions and a benchmark for its revenue and income goals
(iii) It helps in maintaining the spending extra time and money on records
(iv) It helps in keeping records of any penny spent
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