Define Accounting and Bookkeeping and compare and contrast the role of Professional Accountants and Bookkeepers. - Essay Example

Only on StudentShare

Extract of sample
Define Accounting and Bookkeeping and compare and contrast the role of Professional Accountants and Bookkeepers.

The book also described the use of journals and ledgers. Accountancy contained two parts bookkeeping and accounting. Both became useful to the merchants and the professional from time to time. It plays an important function in recording the financial transaction of an organization. It provides information to a whole range of users. The essay elaborates basics of accountancy and the use of accountancy in different areas of management by the accountants and the bookkeepers (Gazely and Lambert, 2006) Accounting and Bookkeeping Accountancy does the task of maintaining records and it also involves in preparation of financial reports for a particular business. It also involves in auditing those reports. It is concerned with the knowledge, practices and the principles of accounting for meeting the general needs of a running business. According to Kohler “Accountancy refers to the entire body of the theory and practices of accounting” (A. Goyal and M. Goyal, 2009). The term accountancy can be divided into two parts: Accounting and Bookkeeping. Accounting Accounting basically deals with the provision or measurement of assurance of the financial information that are used by a number of users such as the lenders, investors, managers and the decision makers of a particular organization (Fitzpatrick, 2010). ...Show more

Summary

Finance and Accounting Define Accounting and Bookkeeping and compare and contrast the role of Professional Accountants and Bookkeepers. Introduction One can track the birth of accountancy from the earlier days of human. The urge to maintain records came up when there was a need for maintaining the records of values of the agricultural products along with their quantities…
Author : brittany69
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Define Accounting and Bookkeeping and compare and contrast the role of Professional Accountants and Bookkeepers."
with a personal 20% discount.
Grab the best paper

Related Essays

Exploring Professional Ethics in Accounting
This study will attempt to answer the following questions: Is the inclusion of ethical instruction as part of the accounting curriculum seen to be effective and viable? How may incorporation of ethical instruction in the accounting curriculum be made more effective or viable, and what are the alternative ways by which ethical standards may be raised in the accounting profession?
38 pages (9500 words) Dissertation
Professional Accounting Skills For BusinessDecisions
Skill development; The skills that I have acquired in professional accounting skills in decision making module group works include cognitive skills, perceptual skills, motor and perceptual skills (Luden, 2001). 1. Cognitive skills; cognitive skill is the intellectual skills that involve thinking process.
12 pages (3000 words) Essay
Principles based accounting as an accounting method which is used as a conceptual basis by accountants
In other words, principle-based standards mean moving away from reliance on detailed, prescriptive rules and relying more on high-level, broadly stated rules or Principles to set the standards by which regulated firms must conduct business (Black et al, 2007).
10 pages (2500 words) Essay
Financial Accountants vs Managerial Accountants
Financial accounting can be stated as the reporting of the position of the financial position of the firm as well as the performance through financial statements across time. Management accounting can be defined as the provision as well as use of accounting information to the managers which will provide them a basis to take the appropriate decisions of business and allow them to get equipped with control functions.
3 pages (750 words) Coursework
Security analysis
The exponential growth of the Chinese economy in the recent past has made the region an attractive investment destination (Ahlstrom, Bruton, & Yeh, 2006). Although the era of double digit economic growth has ended in China, the rate of economic growth for the region is still high.
8 pages (2000 words) Essay
Compare and contrast the key features of public and private sector organisations and explain how these might impact on the role
Accounting is not only a way to portray the financial performance of a company, but it entails guiding any decision making involving every single aspect in the company. There are two main types of organisations in the market today. These are the public and private sectors.
8 pages (2000 words) Essay
Accountants and Management Accountants
Accountants and Management Accountants. Accounting is a continuous process in all business entities. It is applied in every operation within an entity or organisation so as to determine its progress in relation to its making profit. This should be done at the end of each period as determined by the entity.
8 pages (2000 words) Essay
Compare and cotrast the accounting conceptual framework and the accounting regulatory framework in the Uk?
Accounting conceptual framework exists to for an objective approach to evaluation and resolution of the concerns and is developed by an established body. Regulatory framework defines rules and regulations that concerns accounting practices. Such rules and regulations vary across countries and this paper discusses accounting conceptual framework and accounting regulatory framework in the United Kingdom.
6 pages (1500 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT