ACCOUNTING VS. BOOKEEPING  500W

Accounting is the art of recording financial or business transactions in a methodical manner. So as to show their relation to each transaction and the state of the business in which they occur; summarizing, analyzing, verifying, and reporting the results. Accounting is the art of keeping accounts. It is a ridged definition, but it is exactly what accounting is, it is more than just memorizing terms and procedures; it's a whole new way of thinking about finances, "The person who knows HOW will always have a job. The person who knows WHY will always be his boss." A bookkeeper knows "how," but an accountant or sophisticated user of financial statements knows "why."

Now, as we delve deeper into the differences between accounting and bookkeeping, we must keep in mind that to be a successful accountant you must be a successful bookkeeper. Bookkeeping