Wondering about the differences between bookkeeping and accounting
Category : Blog
Anyway, if you are interested in accounting, you should know that the profession is flooded with professionals who can do the work for you. There are different types of accounting practices. One is simple accounting where transactions are recorded to reflect the balance of a company’s finances. Then there is auditing which verifies the accuracy of the numbers in a financial report. And let’s not forget bookkeeping where daily transactions are recorded.
In the movie industry, there is a complicated accounting system at work that calculates royalties and other things that make the wheels of the industry’s finances turn. You will find more information on move accounting online.
If you are like most people, you are probably wondering about the differences between bookkeeping and accounting. As we said, the former keeps a daily record. On the other hand, the latter (accounting) makes sense of the daily recorded by compiling them into a report that anyone can follow. Financial reports are generally issued on a quarterly and annual basis.