Month: September 2020

Top 9 Users of accounting information

By Hemant Sharma / Leave a Comment / Accounting

Accounting is said as the language of business. It is useful for communicating the financial results of the entity to various stakeholders by way of financial statements. As you are aware that one of the main objectives of accounting is to provide information to Users of financial information for rational decision making. Generally, users of …

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Difference between Accounting and Bookkeeping

By Hemant Sharma / Leave a Comment / Accounting

The terms bookkeeping and accounting are considered as synonyms. However, there are lots of differences between these two terms. Bookkeeping is concerned only with the recording of financial transactions, while accounting is concerned with recording, classifying, summarizing, and communicating results thereof to the users of financial statements. Transactions recorded during bookkeeping are base for carrying …

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