Accountancy 11th Book PDF Free Download, Difference Between Book Keeping And Accountancy Class 11 PDF Free Download.
Accountancy 11th Book PDF Free Download
Ncert Books Play The Most Important Role In Class 9 To 12 Exam Preparation. Whether The Students Appear For Standard Unit Tests Or Final Board Exams, It Is Important To Follow Ncert Books According To The Cbse-prescribed Syllabus And Paper Pattern.
Given Below Are Direct Download Links To Ncert Books – Financial Accounting I And Accountancy Ii; Both Combined (Full Book) And Separate Chapter-wise Pdfs.
Bookkeeping And Accounting Are Almost Synonymous In Financial Jargon. These Ideas, Though, Are Distinct. Accounting Deals With The Interpretation, Analysis, Classification, Reporting, And Summarising Of Financial Data Of A Corporation, Whereas Bookkeeping Is All About Recording Financial Transactions.
The Systematic Recording And Classification Of A Company’s Financial Transactions Is Known As Bookkeeping.
The Notion That Bookkeeping Provides The Foundation For Accounting Is False Because Accounting Is A Subset Of Finance’s Larger Field.
The Basic Goal Of Bookkeeping Is To Keep An Accurate Account Of All Financial Transactions Made By A Company. Businesses Utilise This Data To Make Important Investment Decisions.
The Bookkeeper Keeps Track Of The Books. For A Business, Accurate Bookkeeping Is Essential Since It Provides Accurate Data On How Well A Firm Is Performing.
The Following Steps Make Up The Bookkeeping Process:
A Financial Transaction’s Identification
Recording A Monetary Exchange
Making A Ledger Account Ready
Setting Up The Trial Balance
Accounting Is The Methodical Process Of Documenting, Evaluating, And Disseminating Data Regarding Financial Transactions Occurring In A Firm. Accounting Assists In Determining A Company’s Financial Situation And Communicating It To Stakeholders.
It Aids A Firm In Both Short- And Long-term Decision-making And Also Communicates To The Market The Legitimacy Of A Company.
The Term “Business Language” Is Another Name For It.
Accounting’s Users, Which Include Investors, Creditors, Employees, And The Government, Should Have A Clear Understanding Of The Financial Statements.
Let’s Examine The Following Table’s Most Significant Accounting And Bookkeeping Distinctions:
| Bookkeeping | Accounting |
| Definition | |
| Bookkeeping deals with identifying and recording financial transactions only | Accounting refers to the process of summarising, interpreting and communicating the financial data of an organisation. |
| Decision making | |
| Data provided by bookkeeping is not sufficient for decision making | Management can take important decisions based on the data obtained from accounting |
| Preparation of Financial Statement | |
| Not done in the case of bookkeeping | Financial statements are a part of the accounting process |
| Analysis | |
| No analysis is required in the bookkeeping | Accounting analyses the data and creates insights for the business |
| Persons Involved | |
| The person concerned with bookkeeping is known as a bookkeeper | The person concerned with accounting is known as an accountant |
| Determining Financial Position | |
| Bookkeeping does not show the financial position of a business | Accounting helps in showing a clear picture of the financial position of a business |
| Level of Learning | |
| No high-level learning required | High-level learning required for understanding and analysing accounting concepts |
The Distinctions Between Bookkeeping And Accounting Will Be Clearer To Commerce Students After Reading This Article. Keep Checking Byju’s For More Intriguing Ideas Like This.
