Accounting is the process of summarizing, interpreting, and communicating financial transactions which were classified in the ledger account.

Depending on the data provided by the accountants, the management can take critical business decisions.

The objective of accounting is to gauge the financial situation and further communicate the information to the relevant authorities.

Financial statements are prepared during the accounting process.

Accounting requires special skills due to its analytical and complex nature.

Accounting uses bookkeeping information to analyse and interpret the data and then compiles it into reports.

The accounting department does preparations of a company's budgets and plans loan proposals.

Accountants with sufficient experience and education can obtain the title of Certified Public Accountant (CPA).

Bookkeeping is mainly related to identifying, measuring, and recording, financial transactions.

Management can't take a decision based on the data provided by bookkeeping.

The objective of bookkeeping is to keep the records of all financial transactions proper and systematic.

Financial statements are not prepared as a part of bookkeeping.

Bookkeeping doesn't require any special skill sets.

The process of bookkeeping does not require any analysis.

Basically there are two types of bookkeeping - Single entry and double entry bookkeeping.

Bookkeepers are required to be accurate in their work and knowledgeable about financial topics. Bookkeepers work is usually overseen by an accountant.