Accounting and bookkeeping

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Life and experiences tagged with: Accounting and bookkeeping

What is Accounting?

  • Accounting is the big picture of a company's finances. It analyzes financial transactions to create reports that tell the story of the company's health and performance.

What is Bookkeeping?

  • Bookkeeping is the detailed record-keeping underlying accounting. It involves meticulously tracking all the company's financial transactions, like income and expenses, to provide the raw data for accounting analysis.
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