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Explain the terms: Accounting, Accounts & Bookkeeping

November 20th, 2010 Comments off

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The following terms are commonly used in the Accountancy profession:Accounting:

which is the process of collecting, recording, summarizing and communicating financial information.

whereas

Accounts

are the records in which this information is recorded.

and

Bookkeeping is the keeping of the most basic records

{ click here to the Content Page on Introduction to Accounting }

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