Month: August 2020

Bookkeeping: Meaning, Objectives & Types of Bookkeeping systems

Meaning of Bookkeeping Bookkeeping is an activity concerned with recording & classification of financial transactions related to business operations regularly in a systematic manner. It covers procedural aspects of accounting works and embraces record-keeping function. The main focus of bookkeeping is to record all the business-related transactions accurately in primary books of accounts (i.e. Journal …

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Meaning of Accounting and its 4 Objectives

What is the meaning of Accounting? Accounting is a process of recording, classifying, summarizing, analyzing, Interpreting business transactions or events of a financial character, and communicating the results thereof to the Users of Financial Statements. Now, let’s analyze the above-mentioned meaning of accounting in detail: On reading above meaning the first thing you will notice …

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