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Bookkeeping vs accounting salary11/21/2023 ![]() All financials are entered in bookkeeping accounts on an accrual basis and presented in annual financial statements. The ultimate goal of bookkeeping is the formation of reliable records about the transactions, asset accounts, cash, earnings, debts to counterparties, etc. For instance, a holistic picture of the financial and economic activities of an entity is drawn up the expenditure side of economic activity is minimized to increase the profitability search for reserves that allow improving the results without attracting additional funds and compliance with applicable tax and other legislation is monitored. In addition, it helps to solve several tasks at once.
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