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[Video] Difference Between Bookkeeping And Accounting

Difference between Bookkeeping and Accounting.mp4     Accounting Bookkeeping Accounting is the process of recording, summarising, reporting, analysing and interpretation of financial information. Book-keeping is part of the accounting process. It involves the process of recording accounting data according to set rules.  Role of accounting is to communicate financial information for decision-making purposes.  Role of …

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4 Notable Quotes On the Value of Accounting Knowledge from the World’s Richest and Influential People

                    Image by Mark Hirschey (Work of Mark Hirschey) [CC-BY-SA-2.0], via Wikimedia Commons   “You have to understand accounting and you have to understand the nuances of accounting. It’s the language of business and it’s an imperfect language, but unless you are willing to put in …

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Dump the Monetary Concept – Measure What Makes Life Worthwhile!

“Not everything that can be counted counts, and not everything that counts can be counted.” Albert Einstein, physicist (1879 – 1955) The principle of monetary concept states that anything which cannot be measured in monetary terms will not be considered as a part of the accounting data. While accounting captures the numerical performance of a …

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