ACCOUNTANCY PROJECT ON THE TOPIC CONTENTS: MEANING OF BOOK KEEPING BOOK KEEPING IS A PART OF ACCOUNTING THAT IS CONCERNED WITH RECORDING OF FINANCIAL TRANSACTIONS IN THE BOOKS OF ACCOUNTS. NOTE : EVENTS RELATED TO BUSINESS THAT CAN BE EXPRESSED IN TERMS OF MONEY ONLY ARE RECORDED. STEPS INVOLVED IN BOOK KEEPING AIMS OF BOOK KEEPING RELATIONSHIP BETWEEN BOOK KEEPING, ACCOUNTING AND ACCOUNTANCY. DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTING. THANK YOU

1. ON THE TOPIC
“INTRODUCTION
TO
ACCOUNTING”
BY:
AATRA ALI

2.  MEANING OF BOOK KEEPING
 STEPS INVOLVED IN BOOK KEEPING
AIMS OF BOOK KEEPING
RELATIONSHIP BETWEEN BOOK KEEPING,
ACCOUNTING AND ACCOUNTANCY
DIFFERENCE BETWEEN BOOK KEEPING
AND ACCOUTING

3.  BOOK KEEPING IS A
PART OF ACCOUNTING
THAT IS CONCERNED
WITH RECORDING OF
FINANCIAL
TRANSACTIONS IN THE
BOOKS OF ACCOUNTS.
NOTE : EVENTS RELATED TO
BUSINESS THAT CAN BE
EXPRESSED IN TERMS OF
MONEY ONLY ARE
RECORDED.

4. STEPS INVOLVED IN BOOK KEEPING
IDENTIFICATION
Identification
MEASURING
RECORDING
CLASSYFYING
POSTING

5.  TO KNOW THE POSITION OF
DEBTORS/CREDITORS.
TO KNOW THE POSITION OF PURCHASES/
SALES/ CLOSING STOCK.
TO KNOW THE POSITION OF CASH/ BANK
BALANCES.
 TO KNOW THE POSITION OF ITEM OF
INCOME/ EXPENDITURE.
 TO USE BOOK KEEPING AS A PROOF IN THE
COURT.

6. ACCOUNTA-NCY
ACCOUNTIN
G
BOOK
KEEPING
BOOK KEEPING + ACCOUNTING
+ COMMUNICATING
INFORMATIONS TO USERS
BOOK KEEPING +
SUMMARISING &
INTERPRETING THE RECORDS
MAINTAINING BOOKS
OF ACCOUNTS

7. BASIS BOOK KEEPING ACCOUNTING
1. MEANING
It is concerned with
identifying
transactions,
measuring in money
terms and classifying.
It is concerned with
summarizing the
recorded transactions,
interpreting and
communicating to the
users.
2. STAGE
It is the primary stage
and basis of
accounting.
It is the secondary
stage. It starts where
book keeping ends.
3. NATURE OF
THE JOB
This job is routine in
nature.
This job is dynamic
and analytical in
nature.

8. BASIS BOOK KEEPING ACCOUNTING
4. INCLUSION OF
It excludes the
It includes the
ADJUSTMENTS &
adjustments and
adjustments and
RECTIFICATION
rectification of
rectification of
errors.
errors.
OF ERRORS
5. RESULT OF
THE BUSINESS
Book keeping never
discloses the result.
Accounting shows
net result of the
business.
6. BRANCHES It has no branch. It has several
branches. E.g. : cost
accounting, mgmt
accounting etc
7.
PERFORMANCE
Junior staff
performs this
function.
Senior staff
performs this
function.