What's the difference between bookkeeping and accounting?
Hi, I'm getting a bit confused about the difference between bookkeeping and accounting. What are the main difference?
Interested because I want to find the correct type of course. I'm very mathematical and like statistics. Just not sure what's the better path to follow.
Not too sure yet, most likely distance learning or classroom based.
SAGE Line 50 Introduction / Intermediate
Successfully running a business can often seem like an uphill struggle for many small companies. Perhaps one of the biggest problems many b…
SAGE Instant Accounts Introduction / Intermediate
Overview: Sage Instant Accounts is easy-to-use accounting software designed to make managing your money, including VAT, end of year account…
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"Bookkeeping essentially stops at producing month end Profit and Loss Statements and Balance Sheets. Normally you will go into the bascis of accounts analysis and ratios but this only scratches the surface of properly analysing a set of accounts. In addition you are not likely to learn about tax other than VAT and Self-Employment income tax.
Accounting, on the other hand explores all aspects of accounts: all types of taxation, all types of financial, management, manufacturing, auditing and analysis of accounts. In addition, accounting also goes into business law, legislation and legal requirements.
In short, Bookkeeping stops at the point before the accountant takes over. For example: a bookkeeper cannot sign off a set of published accounts or audits - only a qualified accountant can do that." - 02-07-2014 13:24