Accounting vs Book-Keeping.

Accounting: Accounting is a process of recording, summarizing, interpreting and communicating financial information in the form of financial statements and management reports. It is a broad term which encompasses many activities. Making accounting estimates, establishing methods of recording financial data, producing financial reports, analysis of financial reports and communication of financial results are all examples … Continue reading Accounting vs Book-Keeping.

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History of Book-Keeping and Accountancy – Timeline.

Accounting is an off-shoot of counting.┬áIt dates back to ancient civilizations. With the passage of time, introduction of currency and expansion in trade, accounting developed as a stand-alone profession. Timeline of Book-Keeping and Accountancy from ancient times to 19th Century is presented below: Circa 4000 B.C. The income of temples is recorded in lower Mesopotamia. … Continue reading History of Book-Keeping and Accountancy – Timeline.