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By: Lindsay McKay
Published On: January 31, 2022
The distinctions between accounting and bookkeeping are subtle yet essential when considering a career in either field. For some, starting as a bookkeeper can be great to gain experience for those starting out. Some companies will hire individuals with no formal education to do their bookkeeping if they have the experience to prove their skills, while others require the completion of an accounting program or QuickBooks training. Alternatively, to get into accounting you must complete a certificate in accounting to get started.
To start, bookkeepers record the day-to-day financial transactions, while accounts focus more on the big picture through interpreting, classifying, analyzing, reporting, and summarizing the financial data. Bookkeepers and accountants work well together and since they have different scopes there will always be a need for both.
Bookkeepers record the daily transactions in a proper and systemic way, and they are essential to identifying, measuring and recording the financial information needed to run a successful business.
Bookkeeping duties include:
Bookkeepers provide specialized accounting advice to their clients, often in partnership with an accountant, to present options and solutions to help Canadian businesses grow and succeed.
Accounting is a process that uses financial data to create models. For small businesses, this usually means only having an accountant during tax season. However, some businesses may have a full-time bookkeeper.
Accounting duties include:
In addition to overseeing the day-to-day finances of a business, accountants can specialize in specific areas such as auditing, investment accounting, forensic accounting, and government accounting. Meanwhile, bookkeepers generally stick to more routine tasks and don't have the opportunity to specialize.
Although both accountants and bookkeepers use similar skills, they each perform different roles.
Listed below are five skills that accounting and bookkeeping share:
Whether you decide to go into bookkeeping or accounting, your first step is to take an online accounting courses and learn about different accrediting bodies including Certified Professional Bookkeepers of Canada, the Canadian Bookkeepers Association, and CPA Canada.
The information contained in this post is considered true and accurate as of the publication date. However, the accuracy of this information may be impacted by changes in circumstances that occur after the time of publication. Ashton College assumes no liability for any error or omissions in the information contained in this post or any other post in our blog.
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