Start a bookkeeping business
Get all the information you need to start your own work from home bookkeeping business.
Begin today!

What is Accounting?

Accounting and bookkeeping are often confused but basically, accounting goes a few steps further than basic bookkeeping.

Accounting is the business of tracking income and expenses and using those numbers to evaluate its financial status.

One of the most basic accounting services is bookkeeping, which involves keeping a record of all financial transactions and then preparing financial statements such as balance sheets and income statements. Accountants can then take this information and roll it into tax services, another basic accounting service.

But the business of accountants goes beyond just basic number-crunching. Accountants include a number of other services in their repertoire: auditing services, tax planning, business consulting, business valuation, and financial planning, just to name a few. Also, a good accountant acts like an advisor, helping you direct your business in the right direction.