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What business owners should know about accounting and bookkeeping.
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[QUOTE="TOZZIBLINKZ, post: 242513, member: 37528"] Sometimes majority of business owners who own and control huge business organisations and other commercial Enterprises and outlets are actually mistaken of what it means to practice accounting and to practice bookkeeping in a business organisation . It is very important that every business owner understands how important the business activity of bookkeeping and accounting is important to his or her business and every business ownership and devil to practice this to business activities and practices because they're absolutely affect the successful and potential rate for a particular business to actually be successful and to grow and develop . As the name implies the accounting of a business organisation is actually carried out by an accountant but if the business is actually a self-employed kind it is actually carried out bye the business owner possibly the sole proprietor . By definition accounting simply means the recording , strategizing, processing , calculating , and the interpretation of the business books of account so as to make profiting and interesting business decisions thereof . On the other hand business bookkeeping is actually carried out by a business bookkeeper and it actually has to do with the keeping of business books of account in good and proper conditions so that information could actually be easily retrieved no matter how old the information is . Business bookkeeping simply have to do with the documentation and the filing of business books of account in good and proper condition not keeping them scattered all around making the business organisation environment unappealing possibility to individuals coming in and going out . Whatever the case may be , business books of account must be constantly analysed possibly by the business accountant or by the business owner himself or herself , and this can only be made possible if the business books of account are actually kept in good and proper condition by the bookkeeper so as to be handed over to the business accountants when the need arises , or when the analysation of business transactions of the particular business is dued to be analysed . In essence accounting and bookkeeping are totally interrelated to each other and one cannot do or exist without the other . [/QUOTE]
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What business owners should know about accounting and bookkeeping.
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