| The job of a bookkeeper entails the recording of | | | | transactions. This has to be done in a systematic |
| those financial transactions resulting in the transfer | | | | manner and has to adhere to a set of financial |
| of cash or products or items. On the other hand, | | | | principles. |
| the job of an accountant is comprehensive when | | | | By careful classification and analysis of the |
| viewed in all perspectives. The work comprises | | | | recorded information, the reports presented in a |
| classifying, summarizing and presenting accounting | | | | very clear manner will help businesses ascertain |
| related data. This is apart from the analysis of | | | | the end results as well as the existing financial |
| various accounting information. In order to meet | | | | position the company enjoys at a particular time |
| the ever increasing demands in the field of | | | | of the year. The benefits and uses of accounting |
| accounting, new branches and specialisations have | | | | are many and varied. It has an important and |
| also come into existence boosting a demand for | | | | useful role which includes developing the whole lot |
| these experts. The main aim of financial | | | | of information in a lucid way in order to provide |
| accounting is to determine the profit and loss of | | | | answers to the questions faced by the end users |
| business operations during a particular period in | | | | of these kinds of accounting information. One will |
| time. It will also endeavour to state the financial | | | | get answers related to the financial condition of |
| position of the company as on a date at the end | | | | the company and the business. One will get to |
| of a certain period. | | | | know if some particular business activity has |
| Cost accounting relates to finding out the cost of | | | | resulted in a loss, and how well the various parts |
| goods manufactured or produced. It also takes | | | | of the business have performed during the |
| care of the services rendered by a firm or | | | | relevant time period. |
| company doing business. It lends a helping hand to | | | | With the help of carefully drawn-out reports, the |
| all kinds of businesses in a way by controlling the | | | | manager will be able to determine whether |
| unnecessary costs. Their statements will be a | | | | production of some of the existing products in |
| good indicator that has the potential to steer clear | | | | the line has to be discontinued or decreased. With |
| of losses and unnecessary wastes. Making | | | | the kind of information one has, one will have a |
| available relevant information at the most needed | | | | clear idea regarding the impact of the existing |
| time for use by the management is made | | | | policies on the different aspects like sales and |
| possible with the help of Management accounting. | | | | profitability of the business. Accordingly, the |
| These reports will help managers to take vital | | | | Company may plan for future to ensure getting |
| decisions and can prove effective in all sorts of | | | | the desired profits and results. All the doubts will |
| financial control. The objectives and targets of | | | | be satisfactorily answered by providing suitable |
| financial accounting can be achieved only if these | | | | and necessary accounting information. |
| bookkeepers keep accurate records the financial | | | | |