Bookkeeping is recording of day to day business transactions and all the financial information relating to business. Bookkeeping also provide all the information of individual financial transaction which are recorded in a accurate, up to date and summarize way. Bookkeeping also helps in accounting as it provides complete information about accounts.

Systems of Accounting

Systems of Accounting: Learning Objectives: Define and explain cash system and accrual system of accounting. There are basically two systems of accounting: Cash System of Accounting. Accrual System of Accounting. Cash system of accounting: Definition and Explanation: It is a system in which accounting

Important Bookkeeping Terms

Important Bookkeeping Terms: Before attempting to learn the art or science of bookkeeping it will be better to clarify some of the terms that will have to be used again and again. Transaction: Any dealing between two persons or things in a transaction. It

Bookkeeping Versus Accounting

Bookkeeping Versus Accounting: Learning Objectives: What is the difference between bookkeeping and accounting? There is some confusion over the difference between bookkeeping and accounting. This is due to the fact that two are related and there is no universal accepted line of demarcation between


Bookkeeping: After studying this chapter you should be able to: Introduction: The need for a system by which man might keep a record of his business transactions with his fellowmen was felt early in the history of civilization. Many and varied methods were used