OneStopFAQs.com - World's Largest Collection of Frequently Asked Questions
Saturday, August 30, 2014 Home| Ask Questions| About Us| Feedback| Contact Us|
 Common FAQs  
 Our Services  
FAQs LAW AND LEGAL ISSUES BUSINESS/COMMERCIAL LAW DETAILS
A D V E R T I S E M E N T


Question :
What is the difference between accounting and bookkeeping?
Category Business/Commercial Law Interview Questions
Rating (0.4) By 6 users
Added on 2/29/2008
Views 227
Rate it!
Answers:

Bookkeepers perform a critical function for the firms and organizations they serve. Regularly challenged to maintain precise and accurate records, bookkeepers produce the vital reports that keep management up to date on the financial condition of their company.

Bookkeepers are responsible for maintaining the "business checkbook", much like a personal checkbook. They record routine money transactions like customer payments into a "cash receipts journal" and checks to vendors into a "cash disbursement journal." They also process payroll. At month end they transfer or "post" the "journal" totals to the "general ledger" in preparation for financial statements prepared by the accountant.

Accountants are responsible for the design and management of the financial systems that bookkeepers use. They prepare monthly financial statements and tax returns at year end. Accountants may also prepare budgets for management and loan proposals for bankers; and perform cost analysis for the company's products or services.

Trust, reliability and confidentiality head the list of qualities that employers look for when selecting and promoting Certified Bookkeepers. Strong organization and communication skills are also important. Not only are bookkeepers challenged to record routine money transactions, to reconcile accounts and to locate misguided transations, they also must be able to paint a picture--both verbally and on paper--of all the activities within their assigned area of responsibility.



If you have the better answer, then send it to us. We will display your answer after the approval.
Rules to Post Answers in OneStopFAQs.com:-

  • There should not be any Spelling Mistakes.
  • There should not be any Gramatical Errors.
  • Answers must not contain any bad words.
  • Answers should not be the repeat of same answer, already approved.
  • Answer should be complete in itself.
  • Name :*
    Email Id :*
    Answer :*
    Verification Code Code Image - Please contact webmaster if you have problems seeing this image code Not readable? Load New Code
    Process Verification  Enter the above shown code:*
    Inform me about updated answers to this question

       
    Related Questions
    View Answer
    What are the differences between taxes and audits?
    View Answer
    If you make enough money from dog walking how do you report this to the IRS?
    View Answer
    Is a business responsible for an employees behavior and is there a law that states this responsibility?
    View Answer
    The contrtact which was on P standard form specified that F will deliver to P at the end of the growing season in august all reddy tomatoes that P might require The contract prohibited F from selling?
    View Answer
    Clay orally promises trent to sell him five crops of potatoes to be grown on blackacre a farm in minnesota and trent promises to pay a stated price for them on delivery Is the contract enforceable?
    View Answer
    X agreed to supply certain goods to Y goods were to be procured from Algeria Due to riots and civil disturbances in that country goods could not be procured Can X be discharged on the ground of riots?
    View Answer
    Can an American citizen invest money in a small cafe without being a resident and what happens if the American citizens works at the cafe without a visa but doesn't get paid?
    View Answer
    Can an American citizen invest money in a small cafe without being a resident and what happens if the American citizens works at the cafe without a visa but doesn't get paid?
    View Answer
    A a tradesman sends some goods ordered by B A s servant delivers the goods by mistake at C s house C uses the goods Can A recover the price of the goods from i B or ii C?
    View Answer
    How do you access customer redressal mechanism for mobile phone customer in India?
    View Answer

    Please Note: We keep on updating better answers to this site. Subscribe to our newsletter to get notified when better answer is posted.

    Notify me when better answer is posted!
    Email:

    View ALL Business/Commercial Law Interview Questions


    Sponsors  

    Google Search

    Google
    Business FAQs, Internet FAQs, Accounts FAQs, Computer FAQs, Insurance FAQs, Frequently Asked Questions & Related Pages


    Arts and Entertainment Frequently Asked Questions | Business Frequently Asked Questions | Computers Frequently Asked Questions | Programming Languages Frequently Asked Questions | Education Frequently Asked Questions | Electronic gadgets Frequently Asked Questions | Health Frequently Asked Questions | People and Relationships Frequently Asked Questions | Food and Cooking Frequently Asked Questions | History Politics and Society Frequently Asked Questions | Home, Farm and Garden Frequently Asked Questions | Insurance Frequently Asked Questions | Jobs & Careers Frequently Asked Questions | Law and Legal Issues Frequently Asked Questions | Money and Credit Frequently Asked Questions | Science and Technology Frequently Asked Questions | Religion and Spirituality Frequently Asked Questions | Shopping Frequently Asked Questions | Sports Frequently Asked Questions | Travels Frequently Asked Questions | Animal Life Frequently Asked Questions | Literature and Language Frequently Asked Questions | Vehicles Frequently Asked Questions | Plants and Trees Frequently Asked Questions | Miscellaneous Frequently Asked Questions | Software Testing Frequently Asked Questions | Electronics Frequently Asked Questions | Certification Frequently Asked Questions | Web Hosting Frequently Asked Questions | SAP Module Frequently Asked Questions | Database Frequently Asked Questions | Operating System Frequently Asked Questions | Soft Skills Frequently Asked Questions | Hobbies and Collectibles Frequently Asked Questions | Humour and Amusement Corner Frequently Asked Questions | Community life and Leisure Frequently Asked Questions | Street Care and Cleaning Frequently Asked Questions | Technology Frequently Asked Questions | Celebrities Frequently Asked Questions | India Information Frequently Asked Questions | Microsoft Frequently Asked Questions | Multimedia Frequently Asked Questions |
    Copyright © 2005-2014. One Stop FAQs.com. All rights reserved Privacy Policy | Terms and Conditions | About Us
    Our Portals : Academic Tutorials | Best eBooksworld | Beyond Stats | City Details | Cool Interview | Discussions World | Excellent Mobiles | Free Bangalore | Give Me The Code | Gog Logo | Indian Free Ads | Freshers & Experienced Jobs | New Interview Questions | One Stop FAQs | One Stop GATE | One Stop GRE | One Stop IAS | One Stop MBA | One Stop SAP | One Stop Testing | Web Hosting in India | Free SMS | Quick Site Kit | Sirf Dosti | Source Codes World | Tasty Food | Tech Archive | Testing Interview Questions | Free Online Exam | The Galz | Fun & Entertainment | Vyom | Vyom eBooks | Vyom International | Vyom Links | Vyoms | Vyom World
    Page URL: http://www.onestopfaqs.com/faqs/2969/Default.asp
    Download Yahoo Messenger | Placement Papers| FREE SMS | ASP .Net Tutorial | Greetings