Are accounting and bookkeeping the same? How are these two profiles different from one another? I am working as a SEO executive at an accounting firm and need to know this difference asap
The main difference may be the people who are doing it. An accountant usually has a degree where a bookkeeper may be anyone. For simple businesses, the mom and pops, bookkeeping is all that's required. If you have a corporation however you need an accountant. Keep in mind that financial auditors have degrees. So a bookkeeper would take their books to an accounting firm for auditing.
bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data.
