Question

What is book keeping? Explain its objectives.

Answer 1

Book-keeping: Book-keeping is considered with the recording of business transactions in a systematic manner. It includes recording transactions in Journal, preparing subsidiary books, posting them into ledger and balancing of accounts. These are initial steps in accounting and the work is done by clerks.
The objective of Book keeping–Book keeping is concerned with the proper maintenance of the books of accounts. Its objective is to record the transactions systematically in the proper books of accounts. It is not concerned with disclosing or interpreting the results of the business.