Accounting and bookkeeping are not the same. Bookkeeping involves those mechanical and repetitive recording and classifying procedures related to the business activities of a natural or artificial person, until the voluminous information is summarized and reported in a form of financial statements.
Bookkeeping is only a part of the wider field of accounting. A person might become a reasonably proficient bookkeeper after completing a course in fundamentals of accounting. However, several years of study, experience, and maturity are needed to become an accountant.
Among others, accounting includes: the analysis and interpretation of financial statements, the income tax work, the design and installation of an accounting system, audits, and the preparation of forecasts, budgets, and feasibility studies.
Bookkeeping is only a part of the wider field of accounting. A person might become a reasonably proficient bookkeeper after completing a course in fundamentals of accounting. However, several years of study, experience, and maturity are needed to become an accountant.
Among others, accounting includes: the analysis and interpretation of financial statements, the income tax work, the design and installation of an accounting system, audits, and the preparation of forecasts, budgets, and feasibility studies.
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