day to day recording of transactions are done.Īccounting is a specialised language of business, which helps to understand the economic activities of the entity. To reveal the fact, that to which extent financial statement of an organization gives true and fair view.Īccounting starts where bookkeeping ends.Īccounting is a continuous process, i.e. To show the performance, profitability and financial position of an organization.
Content: Accounting Vs AuditingĪccounting means systematically keeping the records of the accounts of an organization and preparation of financial statements at the end of the financial year.Īuditing means inspection of the books of account and financial statements of an organization. Go through with the article presented to you, to understand the difference between accounting and auditing. Thus, it determines the validity and reliability of accounting information. It aims at checking and comfirming the authenticity of financial books prepared by the accounting staff of the enterprise.
#Bookkeeping and accounting means verification
Conversely, Auditing is an activity of verification and evaluation of financial statement.
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