Accounting and Bookkeeping

Accounting and bookkeeping are complementary functions essential to effective financial management, regardless of a company’s size.

Bookkeeping involves recording transactions, while accounting interprets and analyzes this data to support decision-making. Together, they ensure the preparation of well-analyzed and accurate financial documents, such as balance sheets, trial balances, and profit and loss statements, by systematically recording and classifying all financial data from transactions.

These functions help company management understand and monitor the movement of money, providing crucial insights before making any financial decisions.