BOOK KEEPING AND ACCOUNTING
CONTENT
- Meaning of Book Keeping
- Meaning of Accounting
- History of Accounting in Nigeria
- Definition of Accountant
- Roles of an Accountant
- Types of Accountants
- Accounting as a Profession
Meaning of Book Keeping
Book-keeping from time immemorial has been defined as a science of recording business transactions in a systematic manner so as to exact financial position of the business that can be easily ascertained at any time.
Book-keeping may be defined as the art of recording business transactions in a systematic manner so that the books of account will reveal at any time the financial position of the business to the owner and other stakeholders in the business.
Meaning of Accounting
Accounting is the process of obtaining, recording, classifying, summarizing, reporting, interpreting and presenting financial information in a manner that will facilitate informed decision by the users of accounting information.
Boateng, (1884) defines accounting as ”the process of identifying, measuring, and communicating economic and financial information to permit informed judgment and decision by the users of the information”.
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